Hello Friends, If you think about investing money in cryptocurrency, then you come to the right place because here we will share the Binance app review in detail, which is the best app to invest money in cryptocurrency, and we will share How to create an account in Binance.
Read the complete article carefully to get the answer to your every question.
Through this article, we will discuss some essential points about Binance, such as how to use the Binance app and how to open an account in Binance to buy cryptocurrency with ease.
Binance is the best cryptocurrency exchange in India that started in 2017. Its explosive growth is due to the combination of low trade and fast transactions.
Let’s start with the Binance App review.
Binance App Review
Binance is the largest crypto-to-crypto trading platform, it has now become the largest cryptocurrency platform in the world, providing fiat-to-crypto services along with other trading options.
The exchange’s low fees and a large number of trading pairs, as well as strong security features, make it one of the best platforms that most people recommend for new users and experienced traders alike. Binance is the best app to buy bitcoin in India.
Beginners and Professionals both can use it easily
For Beginners, the Binance interface is a simple and easy-to-use dashboard. You can easily navigate the pages to buy, sell or trade any of the top cryptocurrencies. Here their order book is very simple, just select the coin you want to buy or sell and click a few buttons to complete the process.
The platform offers an advanced interface for those who are an old hand at trading and want something a little more advanced. You can access all tools in terms of charts and technical analysis, as well as stop-loss and stop-limit orders. Margin trading, leverage, and other complex trades are easily made available.
Why choose Binance?
It is the largest crypto exchange in the world, trusted by millions of users around the world. It makes crypto shopping fast, easy and secure. It also facilitates 24/7 customer support who is always ready to help.
Features of Binance App:
- Trade and store crypto securely with competitive fees.
- If you have Binance savings accounts then you can earn interest in crypto.
- Participate in trading pairs, futures, and advanced options such as trading on margin.
- Easily spend crypto with the available Binance Credit Card.
- Take a loan in crypto.
- Get access to a secure platform and wallet on one of the largest and most trusted exchanges.
Some Advantages of Binance
- It is fast and smooth.
- Low Fees in Binance.
- Getting Liquidity in Binance.
- Provide Excellent Customer Service.
- Binance is also well-known for its focus on user security and constant innovation.
Some Disadvantages of Binance
- It can be difficult for new people in crypto or trading.
- Many of its functionality is hampered by distributed options such as Uniswap.
- The platform does not support many traditional payment methods.
- Binance does not provide a complete daily market analysis.
Supported Cryptocurrencies in Binance
The platform supports over 500 digital currencies, with trading pairs available for the top two coins BTC, and ETH as well as BNB and USDT.
Some identifying documents required in Binance for KYC processes
- Driver’s License / Government-issued photo ID
- PAN card
- Voter ID Card
How to create an account in Binance?
The crypto market is booming right now and this would be a great opportunity to make the most of it. You are just one step away from it, open a Binance account and you are ready to invest money in various cryptocurriencies.
NOTE: Binance will never ask you to send money at the time of registration.
- Firstly you need to register on Binance and by clicking the given link below you will redirect to the Binance account opening page or you can download the Binance app from the google play store. (Once you are redirected you will see that the referral ID is automatically filled.)
- Next, You need to enter your email id and password or you can sign up with mobile number.
- Next, Binance will send you a 6-digit email verification code. Then, Open your mailbox and complete the verification process, You will get a “Success” notification on the screen.
- Now your account is activated, quick and easy.
- Go to the Binance homepage and log in with your credentials.
Note: If you want to add security to your account then, go to your Dashboard and enable 2FA.
Use Binance Referral ID Code – XUAFF70R and get some special discounts.
How long does Binance verification take?
- Once your application is verified, they will send you an email notification.
- Then, Please enter your basic information and complete the photo verification within 15 minutes.
- During the process, do not refresh your browser.
- You can try to complete the identity verification process up to 10 times per day.
- If your application is rejected 10 times within 24 hours, please wait 24 hours to try again.
Binance Fees and Charges
Now we discuss about the fees of Binance.
For all platforms that provide cryptocurrency exchange services, merchants have to pay fees. These include deposit, trading, and withdrawal fees.
Binance has no deposit or withdrawal fees as their principal is on trading. This makes it stand above the rest. As a trader, you need to look for a platform where you can use minimum cost to earn maximum profit.
Additionally, their exchange fees are surprisingly low. Binance has one of the lowest trading fees in the industry and charges 0.1% on any trade. Thereafter, they proceed to offer you a 50% discount on trades with Binance Coin (BNB).
When it comes to limits, Binance has no limits on how much you can deposit.
How to buy bitcoin in Binance?
In Binance, there are two main ways to buy bitcoin using INR:
- You can link your debit, credit card or bank account to buy cryptocurrency.
- You can buy crypto directly from other users on Binance P2P.
1. Steps to buy bitcoin or cryptocurrencies in Binance :
You can buy Bitcoin with a credit card or debit card on Binance. It offers the best route to buy Bitcoin using a debit card or credit card (Visa or MasterCard).
- Once your account has been verified, click the Buy button or icon on the bottom menu.
- Now, Select the crypto which you want to purchase and the amount you wish to purchase. An example would be buying Bitcoin (BTC) using USD. Also, you can search the cryptocurrencies.
- Next, Enter the amount how much cryptocurrency you want to buy and click on the Buy button.
- Now You can see some different crypto purchase options – banking, credit cards, P2P trading, currency balance, and UPI payments. As we focus on the easy way to trade, click on the “UPI Payments” option and Click on the Confirm button, at this point in the purchase, you will be notified to confirm your Press “Verify Now“.
- As you are redirected to the verification page, you will see that you need to verify your identity with Binance to make your first trade. This includes entering your legal name and surname, date of birth, residential address, in addition to entering your photo ID and photographing yourself.
- Once all of that has been done, and you have both decided on the amount of Binance BTC you want to buy, and verify your account, all you have to do is check the order summary, and complete it.
2. Buy bitcoin locally with Peer2Peer trading
You can buy bitcoin directly from other Binance users with your local fiat currency via Binance P2P Mode. Browse a variety of bitcoin listings to buy the best offers on bitcoin from other users. With thousands of merchants and hundreds of payment methods, Binance P2P works in many regions of the world right now.
DO YOU KNOW? It was hacked in 2019, the prompt action and installation of SAFU to cover all the losses gave a big assurance to the large user base of the platform.
Binance has the most secure platform compared to other competitor companies and it is also a large exchange platform. The company has also ensured that its users adhere to security protocols, including fulfilling KYC requirements, before transacting on the platform.
If you are looking for a cryptocurrency exchange that you can use with a lot of confidence, then Binance should be on that list. Binance stands out as one of the best cryptocurrency exchanges despite these few drawbacks due to its diversity of trades and fees.
If you have any queries related to Binance, you can comment on us!
Frequently Asked Questions
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