As always, we recommend that you should never store assets on exchange wallets for security reasons, unless you’re actively trading. There are plenty more options for advanced users that go beyond the scope of this review, but it’s worth noting that Binance offers everything from liquidity pools, to futures, margins, loans and more.ĭepositing and withdrawing assets from your Binance wallet is a clear and simple process, and can be accessed via the ‘Wallet’ button at the top. The easiest way for crypto newcomers to kick things off with the ‘Buy Crypto’ button on the top left, letting you pick up assets with a variety of easy payment options, including bank transfer and using a Visa or Mastercard (though as of July 2021, these facilities are unavailable for some currencies and countries, of which more below). Ease of useĪs with any other exchange, Binance can be a little daunting for complete beginners who have never dabbled in any form of trading software before, but if you take a little time to familiarise yourself with trading, you’ll get the hang of it in no time, and it’s no harder to use than any other major exchange. This is something you’re only really going to need to worry about if you expect to be dealing with thousands of dollars’ worth of crypto transactions a day. Once you’ve verified your account you can start trading, though you also have the option to verify your address with additional documentation, if you want to raise your maximum daily transaction limits. Following that, you’ll then have to upload your ID verification document of choice, before uploading a clear headshot. Click the yellow ‘Verify’ button on the following page, and you’ll start off by providing information such as your name, address, and date of birth. To do this, click on the circular account button at the top of the page, then select ‘Identification’. To provide verification you’ll need to upload a clear headshot, and a photo of an official ID card/document, such as a driver’s licence or passport. Sometimes called KYC (Know Your Customer) verification, it’s an added security measure to ensure that you are who you say you are. This is always a strange and scary step for complete newcomers, but it’s a very common thing in the crypto world that almost all reputable exchanges require. Once you’re logged in with an account, you’ll need to verify your identity. Enter this to confirm your account, and double check it hasn’t ended up in your spam folder if you’re having trouble receiving it. Enter your email address or mobile number, choose an appropriate password, and you’ll be sent a verification code. Registering for Binance is a fairly simple process that unsurprisingly kicks off by clicking ‘Register Now’ on. Overall, it’s one of the slicker exchanges out there, which is exactly what you’d expect to see from the world’s number one. The website itself is responsive, with a clean layout and little wasted space, and the app reflects this polished design too. You can find what you’re looking for within seconds, and if you’re a beginner, you’ll mostly be sticking to the Trade, Wallet, and Account sections-all of which are easy to find. The optional dark mode earns it extra brownie points in our books, saving our eyes from the searing bright backgrounds that plague some rivals, and the top menu bar, while rammed with options, has everything laid out into dropdown categories that make sense. Binance has a (relatively) uncluttered interface. Any interface that has to provide that much information and tools to its users will necessarily look a little cluttered, but Binance’s design and UI is up there with some of the cleanest around. It’s pretty much impossible for any exchange to look uncluttered and minimal-it’s just in their nature. At the time of writing however, there have been some substantial speed bumps placed in its way, with regulators turning their gaze on the exchange. Not to be confused with Binance.US-a US-only version of the exchange with a more limited offering-Binance is seen by many to be one of the best, most reliable exchanges in the crypto world.
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