Binance’s Proof Of Reserves Raises Red Flags: Report

Everything we do, we do to provide quality service and great user experience. Our Customer Support team shoulders important responsibilities in helping improve general safety awareness among our users and promoting safety measures for protecting your assets. There are legal requirements in various countries Prime XBT which may restrict the products and services that Binance can lawfully provide. Binance reserves the right to change, modify or impose additional restrictions with respect to the access to and use of the Platform and/or the Binance Services from time to time in its sole discretion without notification.

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. So this may not be seen as a drawback for more experienced crypto traders. Most worrying, however, to crypto traders might be a 2019 hack that saw criminals steal more than $40 million in BTC off Binance. It should also be stressed that the hack occurred to the parent company, not Binance.US.

Opening A Binanceus Account

Best of all, Binance.US charges rock-bottom fees for spot trading and very competitive “instant buy” fees. Just be aware that this platform is not available to all U.S. residents. We train every support agent in-house, to ensure that everyone has the first-hand experience with all Binance products and services and maintains close communication with the rest of our teams. They regularly share your feedback with the product and risk control teams at Binance, so that we’re able to respond dynamically to requests and constantly be improving your user experience. Without your feedback and open communication, we wouldn’t be where we are today. This level of transparency brings up numerous concerns around data privacy and individual security that the crypto industry must address.

Binance service quality

Other ranking factors include platform availability, customer service, educational resources, security and storage, staking and rewards, to name a few. More experienced investors, though, will gravitate toward Binance.US’s Advanced Verification. However, they can also make wire deposits and withdrawals, and they have increased limits for bank transfers and credit cards. Although this isn’t as many cryptocurrencies as parent company Binance offers international users, it should cover most cryptos an individual may be looking to trade.


Customers can earn staking rewards on a handful of cryptocurrencies, 23 as of the last count. Binance runs a volume-based pricing scheme across what it calls three tiers. Each tier corresponds to certain cryptocurrencies, with more common coins in lower tiers.

This means that there are key pieces of information that can be used by the public or blockchain analytics providers to identify originators, beneficiaries, transaction patterns, and wallet balances. A compliance program may manage these areas of responsibility directly, or it may provide oversight, governance support, and quality assurance testing. The application level performance, SLA, latency, and throughput measures that arise from business activities.

Ensuring Reliability And Scalability At Binance: The Role Of Capacity Management And Automatic Load Testing

At the same time, we needed to overhaul our training program to ensure all users receive quality service. In addition, we closely reviewed our organisation hierarchy to ensure teams were logically distributed, with all managers set up for success. Even for crypto customer service teams that strive to meet customer demand, the supply of willing and able support reps is not plentiful. Developing a quality assurance program earlier in the day is a shortcut to avoiding these pitfalls. Only well-trained, educated customer support agents can educate customers.

  • Binance also supportsfiat currency trading through the USDT stablecoin.
  • Binance charges a 3.75 percent fee on those dollars, whereas bank transfers are free.
  • But the substance of the SEC claim here is that Coinbase broke the rules by creating a service that customers actually used, and then tried to make it better.
  • This stablecoin is a dollar-pegged cryptocurrency and it is also based on the Ethereum blockchain.

To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. It also allows the user to receive additional crypto rewards for their purchases, which is a nice perk and a great way to add wealth to an existing account. If you’re interested in investing in crypto, Binance.US’s platform should offer most, if not all, of what you’re looking for.

Analysis And Optimization

For one, different countries have materially different definitions of various crypto assets, which has enormous implications for compliance work. – a blog series exploring the state of compliance in the crypto industry and zooming in on various domains that Binance’s Compliance team is keeping tabs on. In this introductory piece, we take a bird’s eye view of what we mean by compliance generally and how compliance in crypto is different from traditional finance. Our capacity management is peak-driven and embedded in every service lifecycle stage, preventing overload with activities like measurement, setting up priority, alerting and capacity reports, etc. This ultimately is what makes Binance’s processes and needs unique compared to a typical capacity management situation.

EU’s report on anti money laundering proves their unwillingness to make exception for even small-time investors – a decision crypto companies are less enthused by. “As we continue to grow our business globally, we will also continue to grow our compliance competency by partnering with well-recognized market leaders for KYC solutions. Effective KYC tools are becoming a critical need for the cryptocurrency industry with the increasing demand for regulatory oversight. The solution will enable Binance to integrate the advanced functionalities of World-Check into their internal workflow, allowing them to streamline the screening process for onboarding, KYC and third-party risk due diligence.

6 Best Crypto Exchanges Of June 2023

Crypto exchanges can be centralized, meaning they are managed by one corporate authority, like a brokerage company that facilitates the security of trades, or decentralized. While you’re ideally picking an exchange with the lowest costs, dwelling too much on the ins and outs of maker and taker fees can be counterproductive. That’s because you can’t choose whether your order is processed as a maker or a taker. Instead, you’re better served considering overall fees and any discounts available for trading a certain amount each month or holding an exchange’s native cryptocurrency. provides a very good selection of tradable cryptocurrencies, with more than 250 available.

This vulnerability applies more to centralized exchanges because they keep their customers’ private keys. Threat actors can successfully predict other private keys when they can access two or more. Hence, exchanges must protect the private keys in a tamper-proof management system.

Top Crypto Exchanges And Crypto Apps

Think about what you plan to do with your cryptocurrencies before you buy them. If you are investing long term and want to buy and hold, you may be happy to entrust your crypto keys to the exchange or brokerage. But if you plan to trade regularly or want to spend your coins, a wallet may make sense. In which case, you’ll need to look for the best app to buy crypto that will connect easily to your wallet. Moreover, some platforms don’t give you the option to move your digital currencies.

Traders are also eligible for additional trading fee discounts by paying trading fees with’s native CRO tokens. If you’re trying to figure out whether a specific cryptocurrency app is safe, research the security features it offers and check if it has been hacked before. The most secure crypto apps use two-factor authentication , keep the majority of customer funds offline in cold storage, and have bug bounty programs. Coinbase is by far the most popular and one of the best cryptocurrency exchanges because you can invest directly with USD. You can currently purchase Bitcoin, Ethereum, and Litecoin and 30+ other coins and tokens on the platform. Furthermore, you can earn interest on your USDT, and you can earn token rewards by completing various activities.


The world of cryptocurrency is complicated enough in itself – it’s disappointing when crypto exchanges make it even more complex & hard to use with their confusing interfaces and clunky UX. Bad user experience can make you feel lost and frustrated, so you would want to stay away as far as possible from such unreasonable crypto exchange platforms. SoFi offers low fees and some 20 cryptocurrencies, but no crypto-to-crypto trades nor the ability to transfer crypto assets off their platform.

  • Select reviews Coinbase, the largest cryptocurrency exchange in the U.S. by trading volume.
  • In which case, you’ll need to look for the best app to buy crypto that will connect easily to your wallet.
  • Many state and federal governments are still figuring out how exactly they want to treat cryptocurrencies from a legal and tax standpoint.
  • The best Bitcoin trading app depends on your personal needs, and there are many good apps on the market.
  • This score accounts for 15% of each company’s total star rating.

Fees can be a headache for users, especially for active traders. We favored crypto exchanges that offered low service fees and ways of reducing transaction fees. We also valued transparency when it came to their fee structure. Traders can expect to pay a fee for converting one crypto to another, like when exchanging regular currencies at a bank . In exchange for digital currencies, exchanges may accept a wide variety of payments, including credit card payments, ACH transfers, Visa debit cards, money orders and even gift cards. Crypto wallets and exchanges are both essential tools used to manage cryptocurrencies.

Best Crypto Apps & Exchanges – Explained

CCData’s Exchange Benchmark ranks over 200 centralised and decentralised exchanges to bring transparency and accountability to the cryptoasset exchange landscape by providing a framework for assessing risk. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.

  • Most crypto trading platforms have daily deposit and withdrawal limits.
  • Your cryptocurrencies are held offline in cold storage by Ledger Vault.
  • Those that offered a higher number of supported assets scored higher on our 0-to-1 scale, while those that offered a limited number of assets scored lower.
  • You can find fee-free trading, but you’re more likely to have to pay between 0.1% and 0.5% per trade.
  • While this cryptocurrency phenomenon is taking the world by a storm, it’s easy to get lost among all the investing opportunities.

Prior to signing up, it’s worth checking that your preferred payment method is supported. Review the full details of your transaction, including the fees that will apply and the amount of BTC you are purchasing. You sell the broker your crypto in exchange for fiat and the fiat should instantly register in your account. Finally, be aware that some exchanges require you to complete additional verification tasks to unlock full account features and permit higher transaction limits.

How To Use A Cryptocurrency Exchange

Investing in cryptocurrencies may not be right for everyone, as they’re still a somewhat speculative investment. Whether or not they make money in the long term, investors can expect a roller coaster ride. For example, rewards platform Lolli offers Bitcoin back on online purchases.

Crypto exchange evaluation

We believe everyone should be able to make financial decisions with confidence. When you visit websites, they may store or retrieve data in your browser. This storage is often necessary for the basic functionality of the website. The storage may be used primexbt reviews for marketing, analytics, and personalization of the site, such as storing your preferences. Privacy is important to us, so you have the option of disabling certain types of storage that may not be necessary for the basic functioning of the website.

Read 130 Genuine Customer Reviews Binance Com

Start making moves toward your money goals and compare your debt management options. Binance facilitates these trades, but takes no responsibility for anything, meaning you’re on your own to ensure you’re not getting scammed. As of now, there’s no indication of when Binance will be able to directly manage sales again. It’s too early to say exactly what long-term impact the Coinbase and Binance lawsuits will have, but it could be profound.

These banks and brands are not responsible for ensuring that comments are answered or accurate. After all that is processed, you’re ready to trade on Binance. Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. In 2020, Binance built on its success and launched the Binance Smart Chain . BSC operates as a blockchain network that enables the running of smart contract applications.

Submit Your Review

This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions. PrimeXBT If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. You probably think of exchanges like Binance.US as a way to convert cash into cryptocurrency — and vice versa. If you need this capability, you’ll probably want to look elsewhere.

  • This Binance review navigates different aspects of the platform.
  • They are calculated on price of the currency at the close of the day.
  • Binance is a centralized cryptocurrency exchange established in undefined and registered in Cayman Islands.
  • On June 12 — a day before the end of trading in dollars — the company continued to list information about how to deposit cash.
  • To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available.

Binance’s other transaction fees are charged at multiple levels of the process. It is important to note that every trade executed between the user and Binance is recorded in the order book, and brokerage fees are charged on those trades. Binance covers several cryptocurrencies, including its own BNB coins, and is designed to help users with every aspect of crypto trading. In addition to Bitcoin and Ethereum , Binance has over a hundred cryptocurrencies. These digital currency tokens are a part of its exchange and are displayed in the Binance Cryptocurrency Exchange List.

Binance Customer Support

Users can freely transfer these tokens between the two blockchains. Sortter TeamSortter bases all its content on professionalism and expertise. Some of our articles have been written in collaboration with Sortter’s versatile and skilled experts in the financial sector. The verification process of Binance is straightforward and simple. It usually takes 15 minutes to submit all of the required information and document, and then it takes Binance 10 days to review those documents. On their homepage, you will see the option to "Register Now." Select this option to begin registering an account with Binance.

  • If you are depositing cryptocurrency into Binance, there are zero fees.
  • The precise withdrawal fee you have to pay when withdrawing coins will depend on the currency you are withdrawing.
  • Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.
  • In 2019, Binance suffered a large-scale security breach, where 7,000 Bitcoins ($40 million) were reported stolen.
  • To contact Binance directly, you can visit their contact page.

For experienced traders, it also offers crypto derivative trading products, including futures contracts for certain assets. These are high-risk products and should not be used by beginners. But there are some other fees that traders should be aware of. Binance also offers a way to instantly purchase crypto, but the fees are 0.5 percent. So if you’re looking to buy crypto straight from a debit card and want to do it right now, rather than waiting for money to transfer to your Binance account, you can make it happen.

Binance Staking

Neither Binance P2P platform nor merchants shall be responsible for your loss in a completed payment. I got tired of trying myself so I decided to bring in Stellar-trace. Com a company that was introduced to me by a friend and they were able to help me get my money back. You can google them to check them out, If you find yourself in situation you couldn’t withdraw your funds or wallet issues. Binance offers lower fees than Coinbase, but Coinbase provides a native digital wallet.

User rating Binance

It is also ranked high for being a trusted exchange in the crypto world. Over the years, the trade of financial instruments and digital assets has evolved tremendously. Besides company stocks, people trade precious metals, commodities, and indices. Trading with various instruments has enabled people to earn profits from many investment accounts. We’ve written in-depth reviews for all the platforms featured there. Try it not and see which other crypto exchanges we’ve reviewed.

Binanceus Faqs

It has the widest range of cryptocurrencies to offer in the market and a comprehensive range of cryptocurrency pairings available for trading. KYC compliance may be positive for some, but it can be an issue for traders seeking anonymity. It also supports the users in technical assistance via its support center. Advanced trading platforms by Binance are quite complicated for new traders as they are designed only for professional, advanced users. Binance blockchain technologies protect the transactional data at every endpoint of the transactions.

However, the market for cryptocurrencies is also highly volatile. Some crypto assets fall drastically, and people lose money to a great extent. Therefore, crypto traders adopt three trading platforms to tackle such challenges and use their services for accurate and profitable crypto investments. Despite their regulatory challenges, their low fees, diverse offerings, and advanced trading platform ensure that the Binance exchange remains a top contender for most cryptocurrency traders.

Binance Reviews Read Customer Service Reviews Of Binance Com

Beta consists of a phase where the software already has all the major features and functions working, but its efficiency, usability, and security still needs further testing. Usually, the beta stage makes the software accessible to testers that are not part of the development team or company. For instance, crypto exchange security review site CER ranked Binance.US as one of the most secure exchanges as of October 2022, ahead of big names like Coinbase and Gemini. Despite these limitations, Binance.US remains one of the top 10 crypto exchanges in the world, according to crypto industry ranker Probably the best thing about Binance is that each screen gives you lots of information.

Binance software feedback

The biggest issue is that you can’t currently use bank transfers on Binance, meaning the only way to actually get your money out of the exchange is to conduct an unregulated trade with a third party. The original Binance website has been banned in the United States, but U.S.-based users can instead use Binance.US, which you can access from most states. may earn a small commission from some purchases made through our site.

Binance: Overall Rating

Afterward, the payment will instantly have crypto funds added to their Binance wallet. Additionally, Binance utilizes account-level security measures that customers can activate for increased protection. For example, Binance offers Two-Factor Authentication , session monitoring, device management, and an anti-phishing code for users to ensure communications with Binance are legitimate.

  • Binance offers various ways to earn passive income, with varying degrees of risk.
  • In other words, you can use these pairs to compare each asset’s value and determine if makes sense to trade one for the other.
  • While there are some positives about the platform, its compliance issues are a cause for concern.
  • The platform doesn’t offer as many assets as Binance , but it gives US customers access to more than 150 cryptocurrencies.

Given that the costs on some crypto platforms to first deposit money and then buy crypto can total over 5%, the low fees are appealing. Binance has restricted US customers from trading on its primary exchange due to regulatory policies. Unfortunately, the US version of Binance doesn’t offer margin trading, and the selection of coins for staking is limited. For more information, read our full Binance.US review exploring its features, fees, pros, and cons. Binance caters to beginners with its Binance Convert feature, which provides newer traders with a simple tool to swap cryptocurrencies for fiat or other coins.

Binance: Buy Bitcoin & Crypto

As far as Binance.US is concerned, sure – you could look at it, and compare it with, and say “hey – the latter platform is far more superior, in every single way! However, the main Binance exchange also has much more regulatory freedom, when it comes to offering its users a wider selection of crypto assets for trading, and a bigger pool of features, in general. When looking into the most-notable features of the Binance US exchange, it’s important to stress the fact that the platform does, for a fact, offer its users advanced trading tools and functions, as well. Binance is a cryptocurrency exchange that allows you to buy, sell, and trade digital currencies and supports hundreds of cryptocurrencies to trade.

Binance software feedback

But such manipulations seem quite strange and unlikely, but users complain about it and many support them, because Binance is really not careful with clients‘ funds. In March, the Binance exchange delisted FTX credit tokens , officially, because users didn’t understand them-Zhao explained . Indeed, customers lost a total of a million dollars on them in liquidations on credit tokens.

Supported Countries

Overall, the Binance broker review has shown us that the platform is very responsive, consistent, and quick to load – facilitating the platform learning process. If the answer on the FAQ page is not found, you can start a conversation in the chat or on the advice page. Binance recommends that you put your question in as much detail as possible, supporting it with documents and screenshots. There is no need to wait for the answer after sending the question; when the question is solved, the support will send a notification. To continue communicating with the support, you must reply to the message within 24 hours, so that the queue does not pass.

Overall, Binance is easy to use, and we like how transparent it is with its fees — though they can rise a little high compared to other cryptocurrency exchanges. That said, the company has had some issues in the past with regulators, and we recommend that you don’t keep cash in the exchange unless you’re actively trading it. Binance is one of the largest cryptocurrency platforms in the world. It gives users access to almost 375 tokens and thousands of trading pairs.


The investment platform currently supports bitcoin, dogecoin, ether, and more than 150 other popular cryptocurrencies. To rank the best crypto exchanges overall and the best exchanges for beginners, we assessed all of the features and options offered by these 25 platforms. The editorial team then developed a standardized methodology, analyzing 10 key primexbt reviews 2023 benchmark features and variables to assess quality across the platforms. Many of the world’s largest crypto exchanges offer credit cards or debit cards. Built from the original Changelly cryptocurrency exchange app, Changelly Pro is a crypto exchange software product that takes your crypto portfolio management workflow and trading to a higher level.

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. So this may not be seen as a drawback for more experienced crypto traders. However, another problem Binance.US might face as more and more cryptocurrency regulations are filed on the state and national levels. Most worrying, however, to crypto traders might be a 2019 hack that saw criminals steal more than $40 million in BTC off Binance.

Forex Broker Comparison Compare Forex Broker Features

MetaTrader 5 is usually seen as acceptable and eay to use too. Fees – The most important fees charged by brokers are spreads and commissionsapplied to every trade you make, but there are other, more hidden fees as well, such as swaps inactivity fees, and withdrawal fees. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions.

With approval from the Cyprus Securities and Exchange Commission, they have earned the trust of numerous traders and partners. In our comparison, we looked through the fees to see if they reflected the way traders regard IC Markets, and they break down like this. Because of the range of forex pairs and the opportunity to trade equity indices, commodities, and futures. Some of FxPro’s unique features include an algorithmic trading center that works well with MT4/MT5. With this, you’ll create your trading strategies and custom indicators.

Internal Withdrawal Fees

The leverage, the position and Stop Loss or Take Profit are set quickly and of course the latter can always be adjusted. VertexFX Trader is an Award-Winning total solution for Global Markets Online Trading especially designed to fulfill all of the brokers, Market Makers, Clearing houses, Banks, Central primexbt reviews 2023 Banks, and financial institutes. With its low bandwidth consumption, it can work fairly with good performance with low internet speed through VertexFX streaming messages communication technology. To choose the best broker for you, you need to know what aspects you consider most important.

  • As well as trading FX, you can also invest in the currency markets through a range of ProShares and Invesco ETFs.
  • Switch between timeframes, you can compare the last 24 hours, past 7 days, and past month or enter a custom date range to compare.
  • For this ranking of the best forex trading platforms to trade USDJPY we have ranked by which forex broker has the cheapest trading costs.
  • Of course, you will need to open a spread betting account to spread bet, rather than a trading account.
  • While regulation remains the baseline, the rest will depend on your personal preferences, trading ideas, trading conditions and leveraged products that are available.

Finding the best platform and FX trading account will reward you in the long run. CTrader is a complete trading platform solution for Forex and CFD brokers to offer their traders. The platform is packed with a full range of features to cater to each and every investment preference imaginable. CTrader is a leading multi-asset Forex and CFD trading platform, offering rich charting tools, advanced order types, level II pricing, and fast entry and execution. With a stunning user interface, it’s connected to the most sophisticated backend technology, and made available on multiple devices. CTrader Copy enables anyone to become a Strategy Provider, and to broadcast their trading strategy for a commission or fee.

What Are Forex Trading Platforms?

Other traders can search and copy the strategies available, and enjoy a commitment-free investing. Additionally, traders can use their own risk management settings. CTrader Automate is a powerful and intuitive solution, giving traders the opportunity to develop algorithmic trading robots to automate their trading strategies.

It is important to understand the main platform tools and find the most convenient algorithm of actions. Of the terminals considered in this review, only the LiteFinance platform has a full-fledged mobile version that does not differ from the desktop version. To get started, you can install the application or use it through a browser. The mobile version is fully responsive and runs on any device.


With cTrader, you will be required to have a minimum of $200. IC Markets webtrader allows you to trade without downloading the app, on a browser. You can start with the IC Markets demo account to test things out. However, when you look at the rates for IC Markets, you find that they are higher than most of the competitors.

Forex trading platforms are a form of online software designed to facilitate the buying and selling of foreign currencies. These platforms are used by traders, investors, and brokers all over the world in order to make profitable trades across multiple currency pairs. Forex trading platforms and forex brokers enable users to trade currencies on the forex market.


You can use a demo account to test your trading prowess, understand where the market is going and how to best make money that day. You can speculate in currencies, but you can also trade stocks, commodities, and digital assets. The offer is exceptional with 105 forex pairs through spot rates of contract-for-differences .

Forex platform comparison

The live phone network works well with a toll-free number within the U.K., France, UAE, Germany, and Russia. Options trading allows a trader to speculate on a potential outcome over a fixed time with a small stake. Options contracts are traded in series, for example, on a monthly rotation, and options are offered over a range of levels above and below the current price, which are known as strike prices. Forex options are exchange-traded and listed currency options on the CME, which offers 24 different contracts. The best times of the day to trade in FX are the points where the main sessions overlap and business moves from one region to another. The handover from the US to Asian FX centres later in the day is probably the least liquid of the three overlaps.