To complete the KYC process, you’ll need to upload a copy of your government issued ID. This needs to either be a driver’s license, passport, or national ID card. If you’re looking to use a traditional credit card to purchase coins, binance review you can now do this directly from the Binance website. Binance was initially situated in China; however, it was later moved from there because of China’s strict cryptocurrency laws and currently has its headquarters in Malta.

The latter spun out of its parent in 2019 as U.S. regulators began investigating the platform for potential violations. The original Binance platform is no longer available to U.S.-based users. Instead, users in the United States must use the Binance.US platform. Of course, not all of Binance.US’s competitors offer phone support either.

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The only fees you may pay for deposits and withdrawals are some minimal network fees which can vary. In layman’s language, options are contracts that allow investors to trade assets on an exchange. In Binance’s case, assets are the cryptocurrencies listed on the platform.

For U.S. residents, another disadvantage of Binance is the limited functionality of the U.S. platform and the decreased selection of tokens available. When you complete your trade, your newly purchased coin will now be available in your Binance account. You can either keep it in your Binance account, or withdraw it to an external wallet. If a fiat currency deposit is something you want to explore, you’ll need head over to the ‘Funds’ section of your account and follow on the on-screen instructions (if available).

How Long Does It Take For Binance To Review Documents?

While there are some positives about the platform, its compliance issues are a cause for concern. Binance has more than 350 cryptocurrencies available for trade on its exchange, but only about 150 are available in the U.S. For international users, it also supports a variety of fiat currencies, including USD, EUR, AUD, GBP, and INR. Depending on your location, Binance has a wide variety of cryptocurrency pairs depending on your location. This is particularly the case if you are trading crypto to crypto through the exchange.

The wide selection of features, the advanced trading platform, and the vast number of transactions supported on the platform make Binance one of the best cryptocurrency exchanges in operation. In summary, it’s easy to see why Binance is now one of the largest cryptocurrency exchanges in the industry. Binance https://www.tokenexus.com/ takes a 0.1% cut of every trade that takes place on its trading platform, making it one of the cheaper crypto exchanges on the web. As such, 0.1% trading fees apply to both spot trading and margin trading For example, Coinbase Pro charges 0.5% for any trade, while Bittrex charges 0.2% fee per trade.

Customer Satisfaction

Binance’s Q&A section in the Support Centre provides detailed guidance on how to deposit and withdraw revenue, including to a UK bank account and the transfer times involved. The Binance mobile app allows users to trade anytime, anywhere, giving investors increased accessibility and flexibility. The app is available to download for iPhone and Android either from the website or by scanning the QR code listed on the website. The desktop app is available for various systems, including Windows, macOS, and Linux, downloadable from the Binance website.

• While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process.
• Binance is a global cryptocurrency exchange that has traditionally accepted users from all nation states.
• The latter spun out of its parent in 2019 as U.S. regulators began investigating the platform for potential violations.
• These contracts have expiry dates ranging from 24 hours to just under a year, meaning traders have plenty of options despite the limited range of supported cryptocurrencies.