Binance Test 2019
If you have ever thought about investing directly in Bitcoin and other crypto currencies, you should take a closer look at the most popular Crypto Börse Binance and our test report.
In our Binance Test 2019 you will find the most important features Crypto Börse has to offer. These include the Binance Coin (NBB), which represents the native crypto currency of Binance itself and offers additional functions. Further information about fees, security and user-friendliness of the platform.
Why Binance is one of the best Crypto exchanges
Binance is now one of the best-known international crypto exchanges and enjoys the trust of millions of traders worldwide. Binance now serves over 200 countries. Binance also provides the entire site in French.
In view of the daily trading volume of approximately USD 1.3 billion, Crypto Börse offers the highest liquidity of all Crypto exchanges for most trading pairs. Binance is almost unrivalled, especially when it comes to the daily trading volume of old coins. The liquidity of a Crypto exchange is primarily one of the most important factors for traders. This gives traders the opportunity to buy/sell larger volumes at market prices at any time.
Binance is a classic peer-to-peer (P2P) exchange. This means that the price is determined exclusively by supply and demand. No hidden fees or surcharges. In the order books, you can see exactly at what price buyers and sellers placed their orders. All this without delay and completely transparent.
Trading on Binance Bitcoin and other crypto currencies
Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), IOTA, Cardano (ADA), Tron (TRX) and many other crypto currencies can be traded directly on Binance. Binance now offers 517 different trading pairs and regularly adds further crypto currencies to this list.
Meanwhile, Binance supports four different stablecoins (USDT, PAX, USDC, TUSD). In the event of a foreseeable fall in prices, for example, the crypto currencies can be exchanged for a stable coin in a matter of seconds in order to counter the fall in prices.
Binance does not currently offer a direct FIAT exchange pair (e.g. EUR, USD, etc.). But this is set to change in the future. In the meantime, the stable coins mentioned above can be used with peace of mind.
Fees on Binance
The fees on Binance are estimated at 0.1% based on the size of the trading position. This means that for a trade of 1000$, a fee of 1$ goes to Binance. With the Binance Coin (BNB), this fee can currently be reduced by a further 25% by keeping the BNB in the wallet. The fee is then automatically deducted from the BNB token. This discount is halved each year. In 3 years there will be no additional discount with the BNB.
SAFU, the Secure Asset Fund for Users, is an emergency insurance policy. On 3 July 2018, Binance announced the Secure Asset Fund for Users.
Since 14 July 2018, 10% of all fees have also flowed into the Secure Asset Fund for Users (SAFU). The SAFU was created by Binance to protect its users in extreme cases such as hacking attacks or software errors. In such cases, affected users are fully compensated by the SAFU.
Deposits and withdrawals on Binance
A direct deposit with Euro only works with the credit card and costs 3.5% in fees. Otherwise, all supported crypto currencies can be deposited directly into an integrated wallet on Binance at no additional charge. However, there is an additional fee when paying out to another wallet.
This differs between the different crypto currencies and also depends on the respective load on the network. The payout fee is displayed in full to the user before confirmation of the payout. In addition, a payout must also be confirmed with an email or SMS in order to protect the crypto currencies as well as possible from hackers. Transparency and security are top priorities here.
Binance Coin and IEO (Initial Exchange Offering)
The Binance Coin (NBB) is the native crypto currency of Binance. In July 2017, Binance carried out a successful ICO and collected USD 15 million. The starting price of the BNB token was USD 0.1.
The Binance Coin not only serves to reduce trading fees, it also enables participation in so-called IEOs (Initial Exchange Offering). IEOs are the further development of the well-known ICOs (Initial Coin Offering), with the difference that the money for the respective project is collected directly on the exchange and then also listed. This offers the respective projects an enormous advantage over conventional ICOs due to the direct liquidity. Binance has carried out 7 successful IEOs to date. More are to follow.
In order to participate in an IEO, a certain number of NBBs must be held. In this way you automatically take part in a lottery and can win one or more tickets to invest in the IEO.
Binance Coin Course and Burning Process
In addition, a certain proportion of Binance Coins (NBBs) is regularly destroyed by Binance forever. This is intended to reduce the number of BNB tokens and artificially increase the price. To date, Binance has destroyed 829,888 NBBs worth approximately $15,600,000. Binance will continue to do this until only half of all tokens remain.
In 2019, the BNB rate could almost increase tenfold and reach a new all-time high of $36. Through the Binance Chain, the Binance DEX and the Lauchpad, Binance is always able to find new use cases for the BNB token in its own ecosystem. Many analysts expect that this was only the beginning and that the share price could continue to develop positively over the next few years.
Binance is relatively simple and self-explanatory. At first glance, it looks rather confusing, but you quickly get used to it and find your way around quickly. Compared to a broker, the user interface seems a bit more complicated, but also offers much more freedom for the user.
Place your order on Binance
An order can be executed in 3 different ways:
- Market Order = Buys / Sells at the current best price in the order book.
- Limit Order = Buy / Sell at a preset price.
- Stop-Limit Order = Sets a preset buy/sell order as soon as a certain price has been reached.
This allows any trader to hedge without having to constantly track the price. A stop limit order can protect you from nasty surprises and minimize losses. Many Crypto exchanges do not yet offer this.
Future trading on Binance
Binance has announced that it will soon support Future Trading. This will make it possible to leverage its commitment and also bet on falling prices. This offers additional scope for traders and makes many other exchanges and brokers obsolete.
Binance thus offers an all-in-one crypto exchange that basically covers every area and always attracts attention with new ideas and features in the crypto market. This is why Binance receives the highest rating from us in the Crypto Exchange category. We can warmly recommend Binance to you without further ado. There you will find everything you need as a Crypto investor or trader.
In 2017 the demand for Binance was so high that Binance did not accept any new users for a short time. In theory, this could happen again at the next bull run. We therefore recommend that you create an account on Binance today and start trading.
Keep Bitcoin and other crypto currencies in a safe place
Although Binance is one of the most secure crypto exchanges in the world, we recommend that you never leave your crypto currencies too long on the exchange. This also applies to all other Crypto exchanges. In order to store your crypto currencies safely and easily, while maintaining control, we recommend a hardware wallet from Ledger or Trezor. This will put you back in control of your digital money. Because it applies: Not Your Keys – Not Your Coins.
But if you don’t want to worry about the security of your crypto currencies and are only interested in the Bitcoin course development, we recommend using the world’s leading broker eToro. There you are not only legally protected, but you can also copy other professional traders and benefit from the experience of the experts. Create your demo account today and test all the features the award-winning broker has to offer.
Just try it out and join in instead of just reading about it!