Binance

Binance is the world’s largest cryptocurrency exchange by turnover. The platform is available in 16 languages, including Polish. Support is available in multiple languages, including Polish.

Changpeng Zhao, CEO of the exchange, previously said that the concept of a headquarters is outdated and that his company doesn’t have a central office. However, the company is now undergoing transformation to comply with regulatory requirements. In Poland, we can use the full range of services offered by Binance.

The exchange has complied with industry-wide standards related to international anti-money laundering and countering the financing of terrorism laws. Those wishing to use the platform must complete KYC (Know Your Client) verification.

The exchange hasn’t experienced any major incidents in a while. The last and only hack in April 2019 cost the exchange 7,000 bitcoins, but it recovered quickly and covered client losses from its own emergency fund.

Binance Offer

On the Binance platform, you can trade all popular cryptocurrencies, engage in leveraged trading, earn money on DeFi projects, and even pay in stores using a card linked to your exchange account. It currently offers one of the widest selections in the crypto market. You can also find many tokens unavailable on other exchanges.

SPOT Market

The spot market (read more) is the most popular form of cryptocurrency trading (and not only that). It’s based on the direct exchange of goods, where we receive a “physical” commodity. This means that if you want to buy Bitcoin for pounds, a transaction on the spot market (GBP/BTC pair) will result in Bitcoin being credited to your account. You can then exchange them for other cryptocurrencies or fiat currencies, or simply withdraw them from the exchange to your external cryptocurrency wallet.

It is worth mentioning that the exchange offers several hundred different cryptocurrencies, which makes it one of the largest markets.

The standard commission on the Binance SPOT market is 0.1000% Maker / 0.1000% Taker (0.08%/0.08% with our discount available below). The Maker commission is the commission charged when placing pending orders (i.e. providing liquidity), while the Taker commission is the commission charged on instant transactions, executed immediately on the market.

It’s worth noting that commissions also decrease as trading volume increases. You can view the full commission table here .

Futures Market / Derivatives

The Futures market is also known as the cryptocurrency contracts and options market. Its main advantage, which distinguishes it from the SPOT market, is the possibility of using financial leverage. Therefore, it is very similar to the Forex/CFD market.

At Binance, the maximum leverage in the Futures market is x125. Of course, with higher volumes, the maximum leverage decreases. However, given the nature of cryptocurrency markets and their high volatility, lower leverage levels will certainly be sufficient as well.

If you want to learn more about the derivatives offered by Binance, it is worth checking out the guides prepared by the exchange team here .

Other markets and services on Binance

Although the two above-mentioned markets are probably the most popular ones offered by the exchange, it is also worth mentioning other offers that we can take advantage of on Binance.

When it comes to cryptocurrency exchange, it’s worth highlighting the P2P market, where you can buy and sell cryptocurrencies directly with other users. Interestingly, you can use a wide range of traditional payments, such as Blik, card payments, or standard bank transfers.

Below is a list of other markets:

• P2P;
• Margin;
• Currency converter;
• Swaps;

The second set of services is Binance Earn, which allows you to passively earn in several ways, such as Staking, Farming, or investing on Launchpad:

• Saving;
• Staking;
• Farming;
• Dual Investment;

You can find more about passive ways to earn on Binance here .

Commissions ( -20% discount )

Binance’s commissions are among the lowest in the market. The transaction fee is 0.1% of the transaction value, regardless of its size. You can reduce your Binance commission by 20% for life on the spot market, reducing it to 0.08%, by registering on the exchange through our link . You can also enter the code ” DGIQXW2Z” during registration.
Additionally, you will receive a 10% discount on futures contracts for the first 30 days after registration.

Binance also reduces the commission for customers who make a certain amount of trade per month (min. 50 BTC/BNB per month) and maintain a certain amount of BNB in their balance.

Withdrawal fees are also charged, but these fees are dynamic and dependent on market conditions. Detailed fees can be found here (link) .

Beware of scammers

• Binance doesn’t call its customers, especially those who haven’t registered an account on the platform. Its employees don’t call with offers or help with account setup. The exchange doesn’t handle phone calls.
• Binance support does not assist you with transactions and will never encourage you to install AnyDesk software, which allows remote access to your computer (a tool that scammers readily exploit).
• The cryptocurrency market is rife with fraudulent intermediaries, but even with trusted providers, you still face a very high risk of losing your funds. Cryptocurrencies are highly volatile assets, and their price depends on supply and demand.

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