Binance charges no fee to deposit any cryptoasset. Binance offers trading pairs with BTC, ETH, and USDT, but not fiat. So you’ll first need to use an exchange like Coinbase or Kraken to swap your fiat for crypto. Then you can deposit your crypto on Binance for free. In essence, Binance's flat % fee means that you'll get charged 1 coin per 1,, 10 per 10,, per ,, and so on, regardless of which currency you buy or sell. Binance How to Deposit & Withdraw Bitcoins & Other Cryptocurrencies Binance Sell Your Stellar, Ripple. Jul 29, · Users of the Binance Basic trading set up will not have to compromise on any features when using the Binance app. Tap Funds and deposit any coins you desire into your account.
Binance bitcoin deposit feeBinance Review: Fees, Deposits/Withdrawals, Purchase Limits – Tokens24
With these coins, it's obviously not a good idea to withdraw the minimum amount, as the fee will eat up a significant chunk of your withdrawal.
The withdrawal fee of 0. Binance doesn't place any limits on making deposits or executing trades on its exchange, though it does have a daily limit on the amount of cryptocurrency you can withdraw. To increase your withdrawal limits even further, you'll need to contact Binance.
Though you can sign in, execute trades, and make deposits on Binance, you'll have to enable two-factor authentication 2FA on your account before making withdrawals. While users from China have the option of receiving SMS-based authentication to get into their accounts securely, US residents have to rely on Google Authenticator to stay safe from hacks. Linking your Binance account with Google Authenticator is a straightforward process — download the Google Authenticator app for iPhone or Android , enable it on Binance through your web browser and note the secret key that's provided, then add Binance to your Google Authenticator app.
If you'd like a more thorough guide on this topic, be sure to check out the following link. While transaction times are extremely fast when executing trades on Binance, transfer times for deposits and withdrawals between Binance and your personal wallets can wildly vary from coin to coin.
While lesser known alt-coins like XLM and EOS have snappy transaction times that take only seconds, seasoned coins such as BTC and ETH have been known to take up to five hours or more to transfer, due in large part to the sheer number of transactions being processed on their blockchain. Like Coinbase, Binance places sole responsibility on its users when it comes to keeping their account and other important personal information secure, as evidenced by Section 2 of their User Agreement.
This means you should use security measures such as strong passwords and two-factor authentication to keep cybercriminals out. Keeping your wallet as secure as possible can't be stressed enough, because once your bitcoins, bitcoin cash, litecoins, or ether are gone, your chances of getting them back are almost zero.
To back this up, Binance doesn't currently offer any form of insurance policy to help cover any losses due to hacks and security breaches. In addition to the current lack of insurance to help cover individual losses due to hacks, Binance makes no mention of safeguards and security measures that it may have in place to guard against potential breaches that can result in monetary loss or identity theft.
The closest mention of any security protocols comes to us courtesy of Reddit , which is still pretty vague:. Regarding security, Binance platform is engineered from the ground up with security, efficiency, speed and scalability taken into utmost consideration.
The team has decades of combined experience building and maintaining a world class financial systems. Unfortunately, not everyone in the US can technically use Binance to buy and sell digital currencies. Both New York and Washington states have laws that tightly regulate cryptocurrency exchanges.
As a result, several popular exchanges such as Poloniex and Kraken have placed a ban on users with IP addresses that originate from these states. Despite these prohibitions, however, several users from New York and Washington state report being able to trade cryptocurrencies just fine using Binance. This means the popular exhcange has yet to impose an IP address ban for these two states, and as long as residents stay under the radar by not verifying their residences, they should be able to continue to do so.
That said, we highly recommend that you transfer all your cryptocurrency holdings to a secure, personal wallet as soon as possible if you live in either NY or WA. Because cryptocurrency trading on a non-compliant exchange is illegal in those states, Binance might ban your IP Address at any time, which could result in losing all or part of your funds.
Back in March , the IRS declared cryptocurrency as property rather than currency. This clear definition — one that made cryptocurrency akin to stocks and real estate — made bitcoins and alt-coins subject to capital gains taxes. These taxes vary in rates, and primarily depend on how long you hold a virtual currency.
In addition to this, the GOP tax reform bill has closed a loophole that previously let you freely exchange cryptocurrencies — such as buying ETH with BTC — without the fear of being taxed. This is a significant development if you trade cryptocurrencies, as all digital currency transactions can now be taxed by the government.
How individual trades will be taxed, however, remain unclear. As such, we'll update this section as a clearer picture emerges regarding this matter. With the addition of an astounding , new users in a single day , it comes as no surprise that Binance has struggled to keep pace with demand.
As new users were flooding in, Binance temporarily suspended new user registration to help with server demand. While Binance has since reopened at the time of this writing, it's only on a limited basis.
So if you have trouble registering a new account, we recommend trying once a day, as the site will only let an undisclosed amount of new users in on a day to day basis until it's back to running at peak efficiency.
We'll be sure to keep you posted as congestion eases, so check back regularly to stay up to date. Bear in mind, however, that some users have reported running into some issues on Binance regarding their referral commissions, so make sure to stay on top of your earnings.
Don't hesitate to contact Binance if you encounter some discrepancies with regards to your commissions — you did earn them, after all. Get a lifetime subscription to VPN Unlimited for all your devices with a one-time purchase from the new Gadget Hacks Shop , and watch Hulu or Netflix without regional restrictions, increase security when browsing on public networks, and more. Install Binance: Android iOS. Our Best Phone Hacks Delivered daily to your inbox. Get The Newsletter.
Good article but 0. Share Your Thoughts Click to share your thoughts. Hot Latest. Once you have sent Ethereum or Bitcoin and confirmation is achieved, your account is funded in minutes. You can now click on the Ethereum-based cryptocurrency pairs of your choice to either purchase tokens using the Basic trade function, or buy the CFDs to trade on Binance actively. To withdraw any tokens you have purchased, follow the instructions set out on the Withdraw tab on Binance to send the tokens to your wallet.
Please ensure that you acquire the correct wallet for whatever token you have bought. Once you send tokens to a wrong wallet, you cannot retrieve them! Deposits and withdrawals require the use of 2-factor authentication. Download the Google Authenticator app from the Play Store if you use an Android phone to generate the necessary tokens for your transactions.
Given the spate of hackings of exchanges that have occurred in the last one year, and the proximity of Hong Kong to North Korea, a country which has been fingered in some major heists of cryptocurrency exchanges, the Binance exchange has invested heavily into state-of-the-art security protocols to protect users and traders on its platform.
The following security features are in place:. There are two levels of limits on Binance, regarding how much cryptocurrency funds can be withdrawn from an account. Accounts that are at level 1 can only withdraw a maximum of 2 BTC in 24 hours. Verified accounts are at Level 2 and can withdraw as much as BTC in 24 hours. Binance is available to all countries of the world except those on a sanctions list Russia, Sudan, Iran, Syria and North Korea or under regulatory prohibitions United States, China, Indonesia.
The customer support desk on Binance is led by the CEO of the company himself, who has ensured that Binance has a very active Twitter handle. The Binance exchange website recently experienced a hour downtime, which rattled its investors and traders and fueled speculations about a hack. However, the CEO was able to communicate with periodic updates about the situation, which he said was merely an upgrade of some components of the exchange.
The site was eventually restored, and trading has since resumed. This incident and the professional manner in which it was handled has served to increase the rating and standing of Binance in the cryptocurrency exchange community. The Binance exchange is continuing to witness strong growth in the number of traders and revenues and looks set to take over as the top destination for those who want to participate in cryptocurrency exchange trading.
Skip to content Tokens Tags Binance exchanges review trading. The Binance Platform Two versions of the trading platform are available. Assets Traded The asset list on Binance. The most popular assets listed for trading are shown below. Fees The fee structure on Binance is as follows: There is a fee charged for trading activities on Binance.
The flat rate for trading operations is 0. Deposit transactions attract no cost. Withdrawals are charged a fee, depending on the token being withdrawn and the amount.
The table below shows the withdrawal charges for some of the listed token on the Binance exchange.