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About Binance

The Binance cryptocurrency platform was established in 2017 by software developer Changpeng Zhao and is a decentralized exchange based in China. Currently, it is the largest cryptocurrency exchange in the world by trading volume.

Features of Binance

Trading Platforms Web, Mobile

Licenses FCA

Local Offices China, Bahrain, UAE

Deposit Options Wire, Visa, Mastercard

Withdrawal Options Wire, Visa, Mastercard

Available Trading Assets Crypto, CFD

Demo Account Yes

Withdrawal Fee Yes

Minimum Deposit Amount $10

Islamic Account Yes

Year Established 2017

Pros

More than 65 cryptocurrencies available for trading for U.S. customers

Low fees

A wide range of trading options and order types are available

Licensed by strong regulatory authorities

Reliable and secure trading platform

A large number of trading options

Trade cryptocurrencies and many financial assets

Fast withdrawals and deposits

Support for many deposit and withdrawal methods

Cons

U.S. features are very limited.

The platform is complex and can be confusing for beginners.

No digital wallet available in the account.

Binance has faced regulatory issues in many countries.

Very slow identity verification process

No customer service available via phone.