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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Binance is a leading global crypto exchange offering a vast range of cryptocurrencies and low fees, making it ideal for advanced users. Its extensive features include spot, margin, and derivatives trading, as well as staking and an NFT marketplace. However, the platform's complexity can be challenging for beginners, and ongoing regulatory issues may concern some users. Overall, Binance is a powerful tool for experienced traders who prioritize a comprehensive and cost-effective platform.
Overview
Quick Facts
Binance stands as the preeminent global cryptocurrency exchange, boasting the largest trading volume. Known for its extensive cryptocurrency offerings, competitive fees, and robust features for seasoned users and traders, it also provides a proprietary software wallet, Trust Wallet, for cryptocurrency self-custody.
Informations
Pro's & Con's
- Huge selection of coins
- Low fees
- Range of functions
- Might be complex for beginners
- No regulation
Binance
Features
Feature Overview
Unique Features
- Spot trading, futures trading, margin trading, P2P trading, staking
- Binance Visa Card
- Crypto interest through staking & lending
- Functions for professional traders
Tradable Assets
- Cryptocurrencies
- Derivatives
Trading Options
- Derivatives
- Margin trading (leverage)
- Short/Long
Our
Binance
Review
Test Result
Conclusion
Binance is a leading global crypto exchange offering a vast range of cryptocurrencies and low fees, making it ideal for advanced users. Its extensive features include spot, margin, and derivatives trading, as well as staking and an NFT marketplace. However, the platform's complexity can be challenging for beginners, and ongoing regulatory issues may concern some users. Overall, Binance is a powerful tool for experienced traders who prioritize a comprehensive and cost-effective platform.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
Binance
User Reviews
Despite being perceived as intimidating by many users because of its numerous functions and tools, Binance is appreciated by seasoned users for its wide array of features and extensive customization capabilities. Users appreciate the Binance app for its simplicity and ease of use.
Feedback from Binance users emphasizes the platform's broad selection of cryptocurrencies and advanced trading features, such as futures and margin trading. The availability of services like staking and lending is another area that users have responded positively to.
According to most Binance users, the platform has a steep learning curve due to a plethora of features and a complex design. However, the platform offers beginner-level with educational materials which help in grasping the basic concepts of trading cryptocurrencies.
Binance is often praised for its relatively low costs of trading and the discounts that come with using the platform's native BNB token. But the withdrawal fees are subject to change and can be expensive for some cryptocurrencies, which can put a damper on the positive aspects.
Despite historic incidents of security flaws, requiring Binance to offer compensation, it remains recognized by many sophisticated users as the best cryptocurrency exchange in operation.
Some people like Binance's support, but some have problems with it. People say some of them have bad experiences with their support, but every person is different.
Binance is recognized by experienced traders as a very good platform with a lot of different cryptocurrencies. It also does a good job offering a variety of features. People like the low fees and the BNB refund, but some people think the withdrawal fee is high. Although Binance has had some unfortunate news incidents, it is still a safe place to be. Although some people think customer service is slow, there are also people who say it is quick to respond.
About
Binance
Binance
Users?
Score
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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