Advantages and disadvantages
- Huge selection of trading pairs
- High liquidity
- Low commissions of 0.1% for trading operations
- Developed security system
- The interface is complicated for novice traders
- Strict requirements for account verification
I have long dreamed of getting on the legendary Binance exchange and trading among the cryptocurrency whales. Here are my impressions of using this site.
Registration
Registration was not easy. First, I filled out all the fields on the site, and I got the error “A user with this IP is already registered.” I had to turn on the VPN, change the IP and register again.
As it turned out, many people had already registered using my IP earlier. Probably half of Binance users are bots and fakes!
Verification
To start trading, you need to pass verification. I sent them a passport, a selfie with a passport and even a dance video. But my account was still not verified!
I had to write to support and threaten to file a complaint with the regulators. Only after that my account was finally activated. I hope they enjoyed the dancing!
Interface
The Binance interface looks modern, but is not very user-friendly. The menu is overloaded with different buttons, graphics flash like in a kaleidoscope. I almost broke my eyes trying to figure it out!
I had to watch a bunch of tutorials on YouTube to understand how to open orders, analyze charts and all that. For beginners it will definitely be difficult.
Trade
Well, when I finally figured out the interface, the scope for trading opened up! There are hundreds of cryptocurrencies represented here, the liquidity is huge.
I started betting on BTC fluctuations. Sometimes I successfully guessed the trend and earned $50-100 per trade. And sometimes he lost money on unsuccessful forecasts.
Overall, trading on Binance is like an adrenaline rollercoaster! I recommend it to experienced traders.
Withdrawal of funds
When I decided to withdraw my profits, Binance prepared new “surprises” for me. My withdrawal request was stuck for almost a week!
I had to write to support again, send screenshots of invoices and threaten with complaints. In the end, I received the money, but my nerves were pretty frayed.
So be prepared.
