Would you like to invest, buy or trade cryptocurrencies on the safest platform? I’m sure, if you have been involved in any Bitcoin you must have heard about Binance, but if not, you are welcome to read my Binance crypto exchange review!
Binance was founded in China, in July 2017 by Changpeng Zhao, know as CZ. It is the biggest crypto exchange in the whole world. The head office is placed on Cayman Islands as Chinese government banned cryptocurrencies. Due to the law regulations, Binance is very limited in UK. The most of features are not available. But anyway it’s the safest crypto platform in the world.
Binance is the most friendly crypto exchange for beginners. You’ll find there a good tutorials, so you can learn the basics of crypto market. The daily trade volume is counted in billions of dollars. New users have a chance to get the bonus if they will join through referral link. It’s not as big as on ByBit, but you can multiply it and earn more without investment!
Trading is obviously not the only one method of making money on Binance. There is more ways to earn. Very interesting is that you can apply for free for a Binance Debit Card, which you can use literally everywhere and get the cash back! Let’s have a look what this platform offers…
The most obvious function of Binance is trading. To start any action you need to verify yourself by providing your ID and proof of address. You can use for example your bank statement. Binance is a financial institution and the low regulations require to do that. The process takes usually up to few days and you’ll receive a message from Binance with the results.
Once the verification is complete you can start trading. On the bottom of your mobile app you’ll find five buttons. Press the Trade one if you want to buy or sell cryptocurrencies at the current exchange rate. If you have no crypto, you can simply deposit your money directly from your bank account or credit/debit card.
Just click the Fiat button on the top of your screen and you can choose your local currency and the method of payment. You have a choice to buy crypto directly by credit/debit card or deposit your Fiat currency and convert it into crypto later. All your assets will be shown in Spot wallet. When you are ready, click the Spot button on the top and choose your currencies.
Another interesting thing is P2P trading, that means you can trade with other people by choosing the best asset’s price or creating your own offer.
If you are too busy to open Binance every time you want to make a purchase, then Auto-Invest option is exactly for you! You’ll find it on the top in Trade section. Auto-Invest is great if you want to buy crypto automatically in specific periods of time.Just set all the parameters and choose the form of payment, Fiat money from your credit card or coins from your Binance wallet.
Future contracts trading brings the best profits and it’s obviously available on Binance. Click the Futures button on the bottom of main screen in your mobile app, set up all the parameters and it’s ready to go! You can buy (Long) or sell (Short). You can choose the leverage up to 125x, but remember that there is a risk of loss. High leverage – high risk!
I recommend to set leverage up to 5x, especially if you are beginner.
Similar option to Auto-Invest are trading bots, where you can trade automatically, but I have never used the bots before as I prefer to have a full control of my transactions. There are supporters and opponents of trading bots and I’m in the second group, but maybe one day I’ll test them and let you know which bot is the best.
Earn money on Binance
As Binance is the biggest and the most popular crypto exchange in the world, you can make money in different ways, not just trading. All these interesting options are available in Earn section in main screen. I’m going to describe few of them.
- Binance Earn – you can make money by staking your coins. It depends on what coin you want to use and for how long. The interest rate is much better than in your local bank, and worth mentioning, you earn money every single day automatically, just by holding them! If you choose flexible, the profits are obviously smaller but you can withdraw your money whenever you want! It’s great method of making money if you hold your Bitcoin, which is the best currency in the world. I highly recommend this form of earning.
- Launchpool – more advanced option, where you stake one currency, but earn another one. Your profit depends on the currencies rate, what makes it a little bit risky, but it’s faster then Binance Earn.
- Cloud mining – you can mine Bitcoin and earn money every single day!
- Dual Investment – buy low or sell high one crypto using another one. The profits can reach sometimes even 160% or even more!
- Range Bound – it’s new on Binance and looks very interesting. You can make money by setting the price range of the asset in specific period of time. If the assets price will stay in the range you have set up, you’ll get your profit. If you choose Bitcoin it’s even up to 932%!
There is more ways to make money on Binance, I tried to show you the most popular ones. If you’re a beginner you will be interested in Learn & Earn. It’s a good step forward if you haven’t been involved in any crypto before. You can learn the basics and earn crypto by answering questions in quizzes
Did you know that you can buy the products in your local store by paying with Bitcoin? Yes, you can! If you are a Binance user, you can apply for free to get a crypto debit card and you can use it wherever you are in the world! But that’s not everything. You can get up to 8% cashback by paying with this card!
For example, if you spend $100, you will get $8 back to your wallet on Binance. You won’t get that money if you pay with standard debit card provided by your local bank.
Unfortunately Binance Card is not available for everyone. If you live in UK, you have to forget about that due to the local law regulations.
There is no problem for the other countries in Europe. It is available in all the EU countries, Switzerland, Norway. In the beginning of March 2023, Binance has been banned in Ukraine and that’s probably related to the war in that country. They said that Russian citizens who live in Ukraine can use the exchange and it’s unofficially the reason.
But there is a special Binance Refugee Card for Ukrainians who left their country.
Cryptocurrencies exchanges provide a lot of bonuses for new customers, and Binance is one of them. The best Bonuses are on ByBit – even up to $30 000! Compare to that, Binance is really weak! Every new user has a chance to get $100 trading fee rebate voucher. To get it you have to be invited by someone who is Binance customer already.
After registration, you need to do a simple tasks, like verifying yourself, deposit money and make first transactions. You have 14 days to complete the tasks, and after that you have to activate your voucher.
Click the link below to get the Bonus now:
If you are interested to earn free crypto you can also open Learn & Earn section, where you’ll get paid real money for answering the questions.
Binance is an example of very well created crypto platform. I can recommend it to everyone, beginners and people who have an experience with Bitcoin. Binance takes care of its users, provides a tutorials and trainings, so even if you are just starting your journey with this kind of investment, you can learn the basics and even get paid for that.
Binance is the first crypto exchange, which offers a debit card. That’s a great thing, as you can make money by receiving cash back for every transaction. Just check details on the official website.
Trading is not only one function, every user can make money in many different ways, such as staking, dual investment, cloud mining and more.
Binance works in the most countries in the world, but unfortunately it’s banned in several countries, for example UK. If you live in Britain you cannot get your Binance debit card or use many other options. I think so, if you have a chance, maybe the best solution is to go to Ireland, open a bank account over there, get the proof of address and then start using Binance.
The platform has one great advantage. You can withdraw money directly to your bank account! Not many crypto exchanges offers that. Binance is one of them. It’s also the most safe place to trade and hold your coins. Definitely Number 1!
If you want to start investing in Bitcoin, and make money in many different ways, click the link below to join Binance right now and get your Bonus!
If you have any questions, please feel free to ask me or leave your comment below.