Binance reviews

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When talking about crypto exchanges, Binance should of course not be missing. If I'm not mistaken, this is the largest platform for trading cryptos, but definitely for altcoins.

How did I find out about the provider?
A funny story. I was looking for a platform where I can buy Tron because you don't get it on so many exchanges or I didn't know them. So I went looking for Tron and found Binance.

What expectations did I have of the provider and were they met?

My goal was buying Tron and other Altcoines that are difficult to get. The whole thing as simple as possible. But it is not that easy, because due to a jumping IP address, I had to constantly verify myself with email, which was extremely annoying. Using the Google Authenticator solved the problem.

What did I particularly like?

The amount of altcoines. Furthermore, it is extremely great to have a website where you don't need a KYC. If you exchange crypto for crypto, this is currently not required.
In addition, the fee model is very fair. I paid 10 TRX fee for a purchase of 1000 TRX. That's really OK.

What do I not like?

The app is too confusing for me personally. You are overwhelmed by information and you have to really get into it. I still have problems finding my way.
I also always have a bad feeling about Binance. The size of Binance means they can theoretically do anything they want. That could become problematic at some point. However, this reduces the risk of an exit scam.

Would I recommend the provider to a friend? If yes / no, why?

Despite everything, I would recommend Binance. The huge amount of Altcoines, the large trading volumes simply ensure that you can shop comfortably.

Conclusion: would I use the provider again? If yes / no, why?

Yes, definitely. However, I will continue to handle it in such a way that I do not leave any coins with Binance.

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Binance is one of the largest exchanges for cryptocurrencies. The platform is clearly structured and offers many options for beginners, but also for professional traders

positive:

- an enormous number of tradable tokens
- quick and easy registration (KYC required)
- high trading volume
- Platform-owned Coin BNB with its own blockchain and Binance DEX based on it
- 2FA authentication for better protection
- very high investments in various projects around the world to advance the crypto space
- simple and fast options for deposits and withdrawals

negative:

- partly inadequate or completely missing German translation of the website
- There are simpler platforms for beginners in terms of the range of functions and operation
- high fees when buying cryptocurrencies with credit cards
- It has often been criticized that Binance deliberately circumvents regulations in some states.

Overall, very good and recommendable platform. Thanks to the wide range of options, you can trade an extremely large number of coins on the platform quickly and easily. The platform also offers sufficient opportunities for traders.
The Binance Coin (BNB) also gives users a variety of options, such as participation in initial exchange offerings, reduced trading fees, etc. ...
In addition, it can also be viewed as a long-term growth coin should the platform gain increasing popularity in the next few years.

You can certainly have confidence when it comes to security.
In your own account you can see the individual logins with the location and used device.


In general, however, you should always be aware of the risks of leaving your coins on a centralized exchange. It is therefore recommended that only a small part of the coin holdings be kept on exchanges, for example for active trading.
It should also be mentioned that you should definitely have experience before you start trading cryptocurrencies. But Binance also provides some information material on this and explains possible risks.

I've been using Binance for 3 years and I'm a satisfied customer.

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How did I find out about the provider?
Binance is one of the first crypto exchanges where I created an account.
Binance is also one of the few exchanges that I still use.

I became aware of it in 2017 when I wanted to buy IOTA and they were offered by Binance.

What expectations did I have of the provider and were they met?

I wanted to buy IOTA or the MIOTA token and I just expected that it would work via Binance. Since I hadn't gained that much crypto experience before, it was new to me that I couldn't deposit euros directly into Binance, but had to buy BTC or ETH on another exchange beforehand. I could then send this to Binance to exchange it for, for example, MIOTA. I hoped and expected that this would not turn out to be any more difficult than it sounds. And my expectations were met.

What did I particularly like?

At first, I really liked the sheer endless selection of coins and was also pleasantly surprised by how easy the trades were. As an inexperienced newbie, I thought it would be more difficult.

I now like that Binance has evolved over time and adapted to the growing market. I can now also buy crypto currencies with Fiat via credit card (albeit at absurdly expensive fees) and the introduction of the Binance Card has made crypto buying and paying with crypto currencies much easier.

Staking and leding have also been introduced.
From the beginning, I also liked the fact that Binance forwards many airdrops to users who meet the necessary conditions (e.g. the Ontology Airdrop for NEO holders).
The GAS tokens are also paid out to NEO holders and I have already received some ETH Airdrops as an ETH holder.

Of course, you shouldn't leave so many coins on the exchange, but rather pay them out to a wallet. I still think that Binance is reasonably safe due to the size of the exchange. When the exchange was last hacked, they simply replaced users' stolen funds. Smaller exchanges might not have been able to manage this.

What could the provider do better?

I am currently very satisfied with Binance. I would like to see a more orderly listing of the exchange instead of many smaller offices around the world. If there is a permanent company headquarters, the stock market can be regulated better, which makes it more serious for the users.

Would I recommend the provider to a friend?

Yes I would. I have been using Binance for a long time and continue to do so.

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Binance is the largest and most well-known crypto exchange in space and everything is represented here between hype and scam allegations.

I created a Binance account because I wanted to buy some Altcoins in 2017 and they were offered through Binance.

At that time you still had to send Ethereum or Bitcoin to Binance in order to exchange them for other currencies in different trading pairs. That worked without any problems and at low fees.
You can now buy crypto currencies directly with FIAT, but with a credit card, which is associated with high fees.

I don't know whether you can now also make SEPA transfers. However, Binance is currently launching its own Binance Card (VISA), which will certainly further simplify FIAT purchases.

It will also make it possible to pay with crypto currencies worldwide.

Basically, Binance is by far the most ambitious crypto exchange, if not the most ambitious crypto company in the space. Since I set up the account 3 years ago, I have not seen so many innovations and further developments on any other platform. The Binance Chain was also created during this time and the ERC20 token became the native token of this blockchain. In addition, Binance has the "decentralized" Binance DEX run via the Binance Chain. I cannot say how decentralized a DEX developed by a single company is, but it is decentralized enough to be able to trade without a KYC.

Binance also invests a lot in developing countries and works with states and financial institutions to improve the crypto infrastructure worldwide.

As good as it all sounds, this market power is just as dangerous, because Binance could manipulate the entire market and many innovations are also based on the fact that users increasingly leave their coins on the exchange. This means that users lose part of their security and anonymity and Binance gains more power in the market.

As long as this company is run seriously and hopefully adapts to regulations better in the future, everything may go well.

Nevertheless, there is always a danger from such centralized dominance.
In my opinion, Crypto.com is currently the only company with similarly ambitious goals and without hesitation to reinvest the majority of the income immediately.

I can currently unreservedly recommend Binance. It remains to be seen whether this will change in the medium or long term.

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How did I find out about the provider?

Binance is one of the first crypto exchanges that I signed up for. The reason was simple then. Binance had the largest range of different crypto currencies and with the increasing popularity of Bitcoin and Co., new projects were hyped again and again. As a newbie, I naturally fell for it and wanted to buy a lot of new crypto currencies. For this purpose I have created a Binance account.

What expectations did I have of the provider and were they met?

I was mainly interested in buying new cryptocurrencies. Of course, I expected that I would be able to do this as easily as possible at Binance. These expectations were met.

What did I particularly like?

At first I liked the seemingly endless range of different coins and tokens and the easy handling when buying and selling. Of course, you couldn't invest directly with Fiat, but initially had to transfer Bitcoin or Ethereum to Binance in order to then exchange them there. That was pretty easy though.

In the meantime, you can also exchange BNB for all the crypto currencies on offer and credit card payments are also possible. With the Binance Card, worldwide payments with crypto currencies will be made easier in the future. A big step in my eyes.

I also like the fact that Binance is always developing and not treading on the spot. Both the platform itself and the company are always introducing new features. Binance invests in a wide variety of areas. While the competing companies usually step on the spot and only act when the market demands it, Binance introduces innovations and creates the market that demands these innovations. Anyway, that's my feeling.

What could the provider do better?

The main criticism of many users is the sheer largest of Binance and the power it brings. If Binance wanted to, you could manipulate the market almost at will. The problem here is the ambiguous company headquarters. Binance has small offices all over the world and is therefore difficult to regulate. More transparency and a more serious regulatory behavior could create security for users here.

Would I recommend the provider to a friend? Conclusion?

Due to the size, the gigantic COin selection and the comparatively normal to good fees, I can only recommend Binance. Only Crypto.com could be a good choice for one or the other user. Crypto.com is more transparent from a regulatory perspective, but is still quite young and therefore not a 100% safe recommendation. The user is spoiled for choice here, but certainly can't go wrong with Binance.

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Binance is currently the largest and most versatile platform when it comes to buying or trading cryptocurrencies.

How did I find out about the provider?

When I got into the crypto space, there were already many exchanges and brokers, but where you could deposit with FIAT (euros) there were usually only 3-5 different coins to buy. That's why I set up an account with Binance for my first Altcoins. Almost all relevant cryptocurrencies were available there at that time. I found Binance simply by searching for the respective crypto currencies.

What expectations did I have of the provider and were they met?

At that time, I had little experience with cryptocurrencies and therefore had no expectations.

What did I particularly like?
At first I was skeptical because I first had to buy ETH or BTC and send it to Binance to be able to exchange the crypto currency of my choice there. At that time, Binance did not have a deposit function for FIAT money. However, I was surprised how easy the exchange was. The fees were absolutely reasonable and the transaction times via the exchange were very fast.

The best thing, however, is that Binance basically offered and still offers all known and also many unknown cryptocurrencies for sale. So you don't need to open many accounts on different platforms.

In the meantime, additional features such as lending, fiat deposits via credit card and, more recently, a SEPA deposit function have been added. In addition, Binance is, in principle, the founding platform of IEOs (Initial Exchange Offerings). This enables interested users a very easy entry into new projects directly via the Binance platform.

What could the provider do better?

The biggest criticism is probably Binance's poor regulation. Since the company does not seem to have a unique headquarters, it is also not very easy to regulate. Competitors like crypto.com could seize the reins and overtake Binance if the company does not decide to take a more transparent and regulated path soon.

Would I recommend the provider to a friend? If yes / no, why?
People who want to invest primarily in altcoins can hardly ignore Binance at the moment. Even if there are many emerging competitors on the market: Binance is currently still the largest provider of altcoins and a very clear and easy-to-use platform. I would recommend this to friends, albeit with a raised index finger.

Conclusion: would I use the provider again? If yes / no, why?

I still use Binance for Altcoin purchases and also hold the company's own coin BNB, as I believe in the company's long-term growth. Nevertheless, there are points of criticism that should not be belittled and the competition is already ready. I also try out competing platforms and then decide where to invest in cryptocurrencies in the future.

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Today its really hard to find a good trustable Exchange in the Crypto Space. If you start your Search you will automaticly land on Binance. Youtuber, Investors and Farmers, they all use Binance. Its one of the biggest Crypto Players with one of the most Stacks of Cryptos in there Wallets.

My Expectations where not that High, i want a Exchange with a good Volume of Popular Coins and also smaller and exotic ones. In the beginning the offer was ok, not the Best but also not worse. The Underdogs like MXC one of the Binance Opponents had more Coins to offer, but not the Trading Volume. Binance recognize this and added more and more Coins on the Exchange. I still stay on the Plattform.

The Team is really good. Since i started to use Binance, the Plattform and there Products get so much Reworks and added new ones. Its starts with the BNB Coin (Binance Coin), there own Stablecoin. Then they implemented Yield farming, also one of there best Updates. You can use your Hodl Coins to get a Dividend like on the Stock Market. Borrow, Loan, Yield its all on Binance.

For Sure i really would Binance recommend to a Friend. Because since my start in Crypto Space you see so much Projects Exit Scamming or they left, its really hard to find a Trustable and Stayable Project who Leads the Market. Binance is for sure one of that. They are innovated a have one of the best Teams. So 5 from 5 Stars

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How did I find out about the provider?
If you are looking for a reputable exchange in relevant forums or YouTube channels, you will inevitably come across binance. It is one of biggest player in the crypto space.

What expectations did I have of the provider and were they met?
I was looking for an exchange with large trading volumes and a wide range of trading pairs. So I know that I will get the best offer for my coins. Furthermore the easy deposit and withdrawal is an important criterion, because I like to store my coins on a hardware wallet.

What did I particularly like?
I like the great leaps in innovation, such as the release of our own utility token BNB (Binance Coin), which many other Exchanges have adapted in their ecosystems. After the last successful hack at the Exchange, the company replaced the funds of the damaged customers without any problems. This shows that you therefore also contain a security fund.

What could the provider do better?
The availability and performance leaves a lot to be desired from time to time. This has nothing to do with my line, because I have noticed this already through different ISP (Internet Service Provider).

Would I recommend the provider to a friend?
If one of my friends wants to start trading, Binance would be one of the first recommendations, as it is among the top exchanges in the crypto scene.

Conclusion: Would I use the provider again?
With its trading volume and years of success, Binance is rightly one of the top dogs in the cryptospace industry. Therefore, I have more confidence in such exchanges than in the smaller niche portals, as a scam exit or hack is more likely in my eyes.

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