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Crypto exchange Binance rating, benefits and registration

binance
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  • Official sources
  • Rating:AAA
Launch date: 2017
Commission (spot): 0,1%
Commission discounts: up to 50%
VIP programme: discounts of up to 50% for trading activity and BNB staking.
Registration bonuses: A promo code for a discount on trading fees of up to $100 (limited time).

Binance: registration and verification (KYC)

  1. Register by entering your email and phone number, which will be used as your login.
  2. Confirm your account with a code from SMS and email.
  3. Go to the verification section, upload documents through the Diia app or manually.
  4. Confirm your identity and wait for verification (1-24 hours).

Ratings and justifications

Overview of registration bonuses, referral programme
  • Up to $100 in bonuses is available to new users after verification. This money can be spent to write off trading fees, but the promo code has a limited period of validity for activation and use. There are also promo codes that can be activated during registration.

Referral program

At Binance, the referral program provides a reward of up to 40% of the referral's commission costs on spot or futures trading. The specific percentage depends on the number of BNB coins held by the referrer:

  • 20% fee if the BNB balance is up to 500 BNB.
  • 40% fee if the balance exceeds 500 BNB.

In addition, the referrer can share a portion of their reward (for example, 5% or 10%) with invited users, which encourages active participation of referrals in trading.

Analysis of the loyalty programme

The VIP program has 10 levels, the achievement of which depends on the trading volume over the past 30 days and the holding of BNB exchange coins. Discounts:

  • Up to 25% discount on fees when paying at BNB.
  • Higher VIP levels receive lower commissions (for example, 0.02% maker for VIP9).
  • Other bonuses include access to exclusive features, participation in the Binance Launchpad and training programs.
Analysis of basic commissions: trading, deposit and withdrawal

Spot trading:

    • The basic commission is 0.1% for takers and makers.
    • When paying in BNB - 0.075% (with a 25% discount).

Withdrawals: the fee depends on the cryptocurrency and the network; for example, for USDT on the TRC-20 network, the fee is 1 USDT, regardless of the transaction size.

Deposit and withdrawal

  • Deposit methods:
    • Bank cards (Visa/MasterCard).
    • P2P platform (no commission).
    • SWIFT, AdvCash.
  • Commissions:
    • Cryptocurrency replenishment - 0%.
    • Fiat via GeoPay - 1.5%.
  • Withdrawal of funds: The cost depends on the cryptocurrency. For USDT via TRC-20 - 1 USDT.

Commissions for spot trading are on the average level. To achieve discounts, you need to make large trading volumes or steak a large number of BNBs.

  • Rating:

Bonuses for registration

A

Loyalty program

А

The amount of commissions

А

Strengths

  • Large selection of cryptocurrencies: one of the largest exchanges in terms of the number of available cryptocurrencies.

Weaknesses

  • Regulatory risks: subject to regulation in different countries, which may affect the availability of services.

Interesting numbers

  • Registration bonuses: the amount of starting bonuses in dollars: up to 100 USDT
  • Referral program: the amount as a % of the commission: 20%
  • Annual profit for staking an exchange token for 100,000 USDT: 0,1%
  • Savings on commission for the first 100,000 USDT of spot volume, subject to a hold of 10,000 USDT: 25 USDT*
*Calculation of savings
When staking 400 BNB for 10,000 USDT (the exchange rate of 1 BNB is approximately 730 USDT), the system discount on the maker's commission on the spot is not provided at 30%. However, according to the terms of crypto exchanges, when paying the commission with an exchange token, all users receive a basic 25% discount. So, with a standard commission of 0.1%, the cost will be 100 USDT, and the discount will be 25%.
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