26/09/18 09:46 UTC-4

Description of the Binance exchange platform, the algorithm for creating an account

Description of the Binance exchange platform
Description of the Binance exchange platform

Starting in 2016, cryptocurrency exchange exchangers are at the forefront of traders and miners who wish to sell profitably, or acquire crypto-coins. Together with the cryptocurrency fever, the number of exchanges increased many times. If according to the data for 2014 they existed no more than half a hundred, today the variety of exchange exchangers can be measured in thousands, and not all of them are reliable.

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Binance  is one of the most progressive, popular and large-scale cryptocurrency exchanges on the globe. In this article we will talk about: what is Binance, how to use it correctly, how to register and what are the features of this exchanger.


Binance: description of crypto-exchange

Binance is a big Chinese exchange cryptocurrency stock exchange, which is included in the TOP-5 most reliable and popular in the world. For official data, the main office of the company is in a small Swiss town, but at the same time, the owners of the stock exchange live in Shanghai, and initially the company was registered as a Chinese company.

Binance started active in the spring of 2017, although the project was planned from the end of 2015. The exchange was originally conceived with a personal cryptocurrency settlement coin – Binance Coin, which gives its owners a number of advantages while working on the stock exchange. According to the draft, Binance was planned from the very beginning as a stock exchange with its own currency. But today the Binance Coin is no longer considered an integral part of Binance, but went to "free float", it can be purchased and sold at other platforms.

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The main advantages of Binance are low commissions for all the transactions carried out – actually at this exchange and "untwisted" in due time. For users of their brand currency, the commission is lowered by half in the first year of registration and trading. It is also important to mention that the Binance Exchange website is considered one of the fastest and most convenient in the world. According to experts, the Binance  website can hold up to a thousand active orders simultaneously.

Among other positive differences of Binance can be distinguished:

  1. High confidence among users of the platform, since the exchange is well protected against hacker attacks. For all time of Binance existence , its users yet never robbed, money from accounts do not vanish, the website does not crack.
  2. A large amount of money trading. This is the main evidence of the reliability of the enterprise, because there is a huge number of traders who are not afraid to realize even large amounts. If you translate into the equivalent of a fiat dollar – the daily turnover of money exceeds the amount of five million dollars.
  3. Suitable for users from different countries and regions. The exchange has no restrictions on the regions of residence, the website supports many interface languages, among which there is a Russian.
  4. Huge selection of cryptocurrency. More than four hundred kinds of different coins, which are rarely found on other exchanges. At the same time, the exchange distributes some crypto-coins absolutely free of charge. So, for example, for storing Neo coins in the Binance wallet, the user automatically becomes the "miner" of the GAS cryptocurrency, which will be automatically charged to him.
  5. Ability to do without verification. This option is suitable for traders who have just started their "career" and do not want to enter personal data (by type of scanning their own passport) into the exchange register. Those who are not going to remove more than two Bitcoins per day from the platform – the verification process is not necessary.
  6. Low commission fees. This is the main trump card of Binance. Here the lowest commission is not only for transactions, but also free entry of money into the exchange wallet. Although, it must be said that only cryptocurrency can be used on Binance. The percentage for each transaction of any cryptocurrency pair is only 0.01%.
  7. Mobile application for trading. Well adapted and in no way inferior to work directly on the website of the exchange. The application is available for both the Android system and Apple technology.


Trader account, registration

Registration for Binance is very simple and does not take much time. On a larger account, to become a trader you need no more than 15 minutes.

Algorithm of registration for Binance:

  1. Visit the official website of the crypto-exchange. The website address is https://www.binance.com/ru. Be sure to pay attention to the exact address. After all, today there are a lot of websites of chameleons-scammers who disguise their domain name and interface to popular crypto-exchanges, and after the user registers and enters money into the exchange wallet, they steal it.
  2. In the upper right corner find the menu item about Registration and click on it. Before you will appear boxes of the registration field.
  3. Enter your personal information. Especially, pay due attention to e-mail – it should be working and current at the time of filling.
  4. Create a password key for your account in Binance. The system offers to enter the eight-digit – with a smaller number of characters registration is impossible. To ensure that the security key was more important to use, both letters and numbers.
  5. To continue the registration, collect the proposed puzzle-captcha, this is the mechanism for identifying you as a user. Such puzzles are used to prevent robots from registering on the exchange.
  6. Wait until an email with the activation code of your account comes to the e-mail box. If the mail is Gmail, then, as practice shows, the letter comes instantly. Therefore, it is better to acquire "Google mail" in advance – this will make life much easier while working with Binance.
  7. Click on the code, thereby you activate your personal account on Binance.
  8. Registration is complete. With this registration option, the user is able to enter and withdraw from the exchange the amount of not more than two Bitcoins in 24 hours. To expand the possibilities – there is a need to undergo additional verification.
  9. After the registration process, you can safely deposit money into the exchange wallet.
  10. For those who want the exchange wallet to be more protected from hacking – it is important to establish two-factor authentication.

Editor: Yuliya Soroka

#binance #cryptocurrencyexchange #exchange



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