Binance Exchange – Overview of Trading Conditions and

Binance Exchange - Overview of Trading Conditions and Opportunities

Exchange Binance (Binans) is a promising platform for trading cryptocurrency. The platform began to gain popularity in the blockchain community thanks to the impressive offers of trading tools and the insanely low commission. Despite the fact that the project was launched just a few months ago through ICO, the service has already shown itself as a good alternative to Bittrex. Our today’s article is devoted to a complete overview of the stock exchange from the replenishment of funds with rubles, to the analysis of transactions and profits.

Binance logo photo

Brief description and main features of the exchange

Type of siteCryptocurrency exchange
LocationShibuya-ku, Tokyo
Year of foundation2017
Replenishment methodcryptocurrency, Visa and MasterCard
Withdrawal methodcryptocurrency only
Available cryptocurrencies and tokensBitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Cardano, MIOTA, EOS, BitShares and others (about 170 currencies in total)
Security levelreliable
InterfaceBasic mode; 
Advanced mode (for advanced users)
Languagesthere is support for the Russian language, but it is recommended to use the English version
Evaluation of those.support4 out of 5
Commissions25% discount if you pay for your own cryptocurrency Binance Coin (BNB) platform
VerificationNot required, with withdrawal of less than 2 BTC per day
CoinTracking Transaction AnalysisCSV, API
Mobile appGoogle Play, App Store (beta)
Official siteBinance

Register on the Binance Exchange

To register on the exchange, you must go to Binance and fill in the standard registration data:

Register on the Binance Exchange

carefully assemble the puzzle (protection against robots)

Register on the Binance Exchange the process

verify email and follow instructions

email from Register on the Binance Exchange

By clicking on the Verify Email button, the system will notify you that your account has been activated and will ask you to login.

Immediately after registration is complete, we strongly recommend that you set up two-factor authentication (2FA) using Google Auth.

The exchange supports several languages, including Russian, but we recommend that you use the English interface.

Binance verification

The daily withdrawal limit depends on the level of verification. After registration, the first level is assigned automatically. It allows daily withdrawals in an amount equivalent to 2 BTC.

To obtain the second level, you need to activate two-factor authentication SMS Auth or Google Authenticator. Currently, SMS Auth Exchange supports not only Chinese numbers, but also Russian ones.

After installing 2FA, you must provide the following data:

  • name;
  • surname;
  • floor;
  • a country;
  • passport ID;
  • passport scan with a photo page;
  • your passport photo in hand.

This will increase the daily withdrawal of funds to 100 BTC.

Fees for deposits and withdrawals

On January 31, 2019, the opportunity to replenish your account through Visa and MasterCard cards appeared on the stock exchange (hereinafter we will discuss this method in more detail). In addition to depositing an account with bank cards, you can deposit funds with any cryptocurrency, and there is no commission for depositing funds.

Binans is a strictly cryptocurrency exchange, so there is no possibility of withdrawing funds in fiat money – only cryptocurrencies are available. Restriction – the daily limit in accordance with the level of account verification.

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In addition to low transaction fees, Binance retains quite democratic fees for withdrawing funds. Below is a table on commissions for withdrawal (as of the end of March 2019):

CurrencyMinimum withdrawal amountCommission
Bitcoin (BTC)0.0020.0005
Ethereum (ETH)0.020.01
Ripple (XRP)220.25
Litecoin (LTC)0.0020.001
Bitcoin Cash ABC (BCHABC)0.0020.001
Bitcoin Cash SV (BCHSV)0.020.01
Binance Coin (BNB)0.120.06
Stellar Lumens (XLM)210.01
TetherUS (USDT)6.63.3
Cardano (ADA)fourone
TRON (TRX)tenone
Monero (XMR)0.010.0001
IOTA (MIOTA)ten0.5
Ontology (ONT)2one
Ethereum Classic (ETC)0.020.01
NEM (XEM)eightfour
Zcash (ZEC)0.010.005

A full list of 175 tokens and commissions on them can be found on the website in the Fees section.

How to replenish the wallet on the Binance Exchange

Before trading you need to replenish your account. To do this, go to the exchange in the Deposits and Withdrawals section (“Deposit and Withdrawal”) and click on the Fund tab (“Tools”). Now you can select a cryptocurrency, in which the account will be refilled, and click on Deposit (“Deposit”).

A public wallet will appear on the screen, to which funds should be transferred. It is best to replenish your account in bitcoins or ethereum, because these two coins form the majority of trading pairs on the stock exchange. This will provide more flexibility in trading.

Replenishment of the wallet with rubles and dollars

There are many ways to replenish a wallet from rubles / dollars / another currency – in Bitcoin / Ethereum / other cryptocurrencies. We will tell about the main three:

Via VISA / Mastercard at the stock exchange itself

  1. Go to Balances and select the cryptoactiv that you want to purchase, for example, Ethereum. Click the Deposit button.
  2. In the opened window you will see “Buy BTC & ETH with Credit Card”. Click “Buy now”.
  3. In the Order amount field, select ETH, set the number of tokens to buy, click “Buy now”.
  4. We agree with Disclaimer, click “Go to payment”.
  5. Next, you will need to enter personal data, pass the verification of the person and complete the payment. As soon as the purchase is completed, ETH tokens will appear in your wallet in the Balances section.

Through AdvCash payment system

  1. We replenish the Advanced Cash wallet  (any Fiat: RUB / USD / EUR).
  2. Go to the section “Transfer of Funds” tab “In email. currency. “
  3. We select a cryptocurrency in the drop-down list “Electronic currency of the recipient”, for example, Ethereum.
  4. Copy the address of the Ethereum wallet from Binance.
  5. Insert the address in the field “ETHEREUM ADDRESS” in AdvCash.

After the transfer is completed, ETH tokens will appear in your wallet in the Balances section.

Through electronic exchangers

There are several exchanger aggregators, such as and Let’s talk about buying ETH on the example of BestChange:

  1. We go to the site of the aggregator, click “List”, choose a source of money from the list (this could be, for example, a Tinkoff card, Alpha or another bank) and the currency that we want to purchase – in our case, this is Ethereum. Click the “Find the best rate” button.
  2. Sort the list by recall, choose an acceptable rate. Next, the system will transfer you to the site of the exchanger, where payment will be completed.
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Now let’s compare the voiced methods and see which one is the most profitable. The purchase condition will be the purchase of 1 ETH at the lowest price.

WayCost ofCommissionCourse $Total
Binance (VISA | Mastercard)$ 150.14$ 65.18$215.32
Advcash$ 140.31$ 3.58$ 65.18$208.89

So, it turns out that the best purchase will be made through the service AdvCash or exchanger (depending on which exchanger you choose).

How to trade on the Binance Exchange

As soon as the funds are credited, you can start trading. To do this, go back to the control panel by clicking “Basic” / “Advanced” on the “Exchange” tab in the upper left corner.

Binans has two options for trading platforms: Basic (main) and Advanced (advanced). They differ in the availability of tools for technical analysis in the advanced version. For most traders with little experience, especially for beginners, the first type of platform will do.

trade on the Binance Exchange

At first glance, even the main mode of the platform looks quite complicated and not entirely clear if we compare it with the same Exmo. This indicates that Binance was not created for ordinary investors and newcomers to the world of cryptocurrencies.

Basic mode

Basic mode Binance

If we understand a little, we will see that the trading interface of the basic mode is divided into 5 parts:

Selecting a currency pair allows you to find a currency that is traded in a pair of four major exchange currencies: bitcoin (BTC), ethereum (ETH), binance coin (BNB) and tether (USDT).

The order book is the place where purchase orders (ask) and sell orders (bid) meet, which users set in the buy and sell orders panel.

The order panel for buying and selling allows you to place an order at a set price (Limit), at a market price (Market), and also to set a pending order to reach a certain price in currency (Stop-limit).

Chart – Japanese candles, from the minute to weekly, as well as the schedule of trading volume and the MACD indicator (technical analysis).

History of trades – reflects the transactions in a given currency pair.

As you can see, everything is extremely simple and clear. Let’s now look at the Advanced mode.

Advanced mode

Advanced mode Binance

The composition of the presentation is practically no different from basic. All the elements are the same, except that in the advanced mode there are more tools for technical analysis on the graph under the INDICATOR button. Black background and extended panel make trading more focused and rich.

Only limit, market and stop-limit orders are available on Binance. At the same time for each trading pair at any given time no more than two stop-limit orders are allowed.

Trade commission

Binans currently charges a fixed trade transaction fee of 0.1% for each transaction. This is one of the lowest tariffs among most trading platforms.

When paying with BNB tokens, you can get a 25% discount on commission fees. This will reduce them to 0.075%. With this proposal, Binance can rightly be called the exchange with the lowest commission.

Available cryptocurrencies

Binance offers a huge selection of coins that are traded in tandem with Bitcoin, Ethereum, Binans Coin and Tezer.

Below are some of the cryptocurrencies available on Binance:

  • Bitcoin;
  • Binance Coin;
  • EOS;
  • Ethereum;
  • Celer Network;
  • Cardano;
  • Fetch;
  • XRP;
  • Litecoin;
  • Bitcoin Cash;
  • Iost;
  • BitTorrent;
  • TRON;
  • Stellar;
  • Ontology;
  • TrueUSD;
  • NEO;
  • Paxos Standart Token;
  • ICON;
  • Nuls;
  • and more than 400 coins.

Many investors like Binans because it offers coins for trading, which often ignore other trading services, including Bitcoin Gold, Walton Coin and IOTA. It is worth noting that Binance is one of the two main exchanges where IOTA is traded.

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Accounting and analysis of transactions in CoinTracking

Finance is one of the exchanges supported by the CoinTracking service. CoinTracking analyzes your transactions, counts the profit/loss for each currency. Data can be downloaded from the report on deposits, withdrawals and transactions in the sections of the exchange Deposits History, Withdrawals History, Trade History.

After uploading data from the Binance Exchange, upload from the Binance Import section to CoinTracking.

Now in the “Unrealized Profit / Loss” section you can track the effectiveness of your decisions.

Cointracking tracking progress

The main convenience of the service is the ability to track the status of your portfolio on a mobile device. The application is available on Google Play and in the App Store.

Paid features of the CoinTracking service allow pulling up transaction data in an atomic mode via the API.

Trust level

Binance is one of the newest exchanges in the industry. The company collected about $ 15 million during the ICO in July 2017. In the first days after launch, the number of registered users reached more than 20,000 people.

CEO Changpeng Zhao

Its CEO Changpeng Zhao has an impressive resume with many years of experience in cryptocurrency technology. He led the Blockchain development department and was a co-founder and technical director of OKCoin, as well as the founder and CEO of BijieTech before he started working at Binance.

Security funds

Information about the safety of funds is not yet available on the website of the exchange, as in many forums. This is not a good sign, so the best advice would be to exercise caution in storing coins on the purses of the exchange.


There is no separate customer support section on the Binance website, unlike other similar services. There is a short list of frequently asked questions, among which it is not always possible to find the necessary information.

Since the site was originally written in Chinese and then translated into English, there are grammatical errors (especially in the support section). This can be explained by the fact that the exchange is still very young, but from the first days seeks to provide support for the service in several languages ​​at once.

You can communicate with the support service through the online form and get an answer to your question by email. On the official Binance page in Reddit, it’s stated that the company’s questions are answered by company employees who are well aware of the features of the service system, and not by people hired from outside.


First of all, Binance impresses with a large number of available currency pairs on the stock exchange and a good depth of the stock exchange. In addition, after news about the problems of Bittrex and Bitfinex exchanges, for many Binance has become an excellent alternative for trading.

On the other hand, there is still no centralized exchange that would not be cracked by intruders. Hence the simple rule that you need to follow both in relation to the largest stock exchanges and in relation to Binance: you should not keep all your eggs in one basket.

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