Binance: A Complete Guide and Its Top 5 Features

What Is Binance?

Binance is one of the most well-known cryptocurrency wallets and trading platforms globally.

Binance allows users to generate passive income, send or receive payments, trade NFTs, and much more.

Having used Binance for a long time, I’m excited to share some great news—I’ve been appointed as a Brand Ambassador!

That’s why I wanted to create this guide to explain Binance’s most common uses and, at the end, share a special bonus with you.

Stay tuned to learn how to maximize Binance’s potential without fearing financial loss.

Understanding Binance

Binance Holdings Ltd., commonly known as "Binance," is a financial technology company recognized as the largest cryptocurrency exchange worldwide.

Founded in 2017 by Changpeng Zhao, Binance initially set up offices in Japan before relocating to Taiwan in 2018. Its current headquarters are in the Cayman Islands.

Binance operates its own cryptocurrency, called Binance Coin (BNB), with a value fluctuating between $208 and $213.47.

Binance also offers:

• Binance Academy
• Binance Earn
• Binance NFT
• Binance Card
• LaunchPad

What Can You Do on Binance?

Binance serves as a digital marketplace where users trade over 100 crypto assets, enabling them to:

• Buy and sell cryptocurrencies
• Monitor real-time crypto market trends
• Save in cryptocurrencies
• Convert crypto to fiat currencies
• Exchange between different cryptocurrencies
• Transfer funds to other wallets with low or zero fees
• Access its NFT marketplace

👉 Discover Binance’s top features

How to Register on Binance

To register on Binance:

1. Sign up with your email and password
2. Click "Register"
3. Verify your email via the confirmation link
4. Set up two-factor authentication (2FA) via SMS or Google Authenticator
5. Complete identity verification with legal documents (passport, national ID, etc.)

Once registered, you’ll receive:

• A unique Binance ID for receiving payments
• Access to buy, sell, and exchange fiat or cryptocurrencies

Security Measures on Binance

Protecting your Binance account is crucial. Recommended steps include:

• A strong password
• Biometric authentication (fingerprint or face ID)
• Google Authenticator

Binance enhances security by sending SMS and email notifications for transactions, logins from new IPs, or unfamiliar Wi-Fi networks.

Note: Binance doesn’t allow profile pictures—only avatar selection.

Advantages of Binance

• Higher exchange rates than official rates in most countries
• Supports 75+ fiat currencies, including USD, EUR, and more
• Multiple deposit methods, including credit/debit cards
• Operates in 100+ countries, including Argentina, Brazil, Mexico, and Colombia
• Low fees (0.4%–1.8%)

👉 Explore Binance’s supported countries

Disadvantages of Binance

• Steep learning curve for beginners
• Platform slowdowns during high-traffic periods
• Delayed customer support responses
• Supports only five cards, all must be under your name

Top Binance Exchange Options

1. Converting USDT to Fiat Currency

To exchange USDT (Tether) to a local fiat currency (e.g., COP):

• Go to Wallet > P2P Trading
• Select "Sell" and choose your fiat currency
• Pick a verified merchant with a 98%+ reputation
• Confirm the transaction after receiving payment

2. Buying USDT via Bank Transfer

• Navigate to Buy Crypto > Bank Transfer
• Select your fiat currency and card
• Enter the deposit amount (1.8% fee applies)
• Confirm the transaction

3. Sending Crypto to Other Binance Users

• Tap "Pay" in the app
• Enter the recipient’s email, phone, or Binance ID
• Specify the amount and send

4. Converting Cryptocurrencies

• Go to Trade > Convert
• Select market or limit order
• Preview and confirm the conversion

5. Depositing Fiat Currency

• Choose Buy Crypto > Bank Deposit
• Select your card and deposit amount
• Note the 1.8% fee

FAQs

Is Binance safe?

Yes, Binance employs 2FA, biometric security, and transaction alerts to protect users.

Which countries support Binance?

Binance operates in 100+ countries, including major Latin American markets.

What fees does Binance charge?

Fees range from 0.4% to 1.8%, depending on the transaction type.

Can I use Binance for passive income?

Yes, through Binance Earn, staking, and LaunchPad investments.

How do I contact Binance support?

Access support via the help center in the app or website.

Binance is a powerful tool for crypto enthusiasts, freelancers, and investors.

Ready to start? Take advantage of its features today!

👉 Begin your crypto journey

Have questions? Drop them in the comments!

— Ale, Your Crypto Guide 🌍