Is Binance Wallet Safe – That’s a very important question that requires a good answer and based on research been made, this article will have answers to your question. Before we go deep let’s figure out what Binance is.
What is Binance?
Binance which can also be referred to as “Binary Finance” is the largest cryptocurrency exchange that was established around 2017 with a string aim of powering the futures of Cryptocurrency.
What’s unique about Binance is that they tend to identify the issues they’re facing and work towards getting solutions.
Some of the Issues identified and recognized are:
- There’s bad market liquidity.
- There’s loose internationalization and language support.
- Their customer services are really poor.
- The platform is insecure.
- There’s poor trading technical architecture.
With all the aforementioned problems, Binance worked towards getting Features that’ll help and stand as solutions to them . These features are:
- Matching Engine: with matching Engine, Binance is one of the fastest exchanges in the market today with no worries about the risks of being stuck or held down.
- Multilingual Support: there are plans of having more languages added as the recent ones like, Spanish, Japanese, and Korean alps with Chinese and English added.
- Device Coverage: cross-platforms have been provided for trading clients such as Web-Based trading, Android, IOS and Mobile IOS app, Mobile HTML5, and PC ( Windows).
Features and Benefits of Binance
Some features of Binance are:
- Binance Lending: They get to support various coins like Bitcoin, Stable, Binance, etc offering crypto lending features. With that, you’ll earn interest in your crypto holding.
- Binance gives crypto staking features that help you find out new and exciting projects offering staking features too.
- Binance sub-account features help in the management of Binance account of your friends, family, and clients.
- Binance Pay: the latest feature of Binance added in 2021 that can be used for P2P payments. To carry out those processes, your Binance account has to be verified.
All the benefits mentioned and more, are the features you stand to benefit from Binance Wallet.
Steps to Sign up to Binance
To sigh up to Binance, follow the guide below.
- Head to Binance secure website.
- Register making use of your email and password.
- Verify your account by typing in the 6 digits code that’ll be sent to your email.
- Once that’s done, you’ll get a “success” notification on your screen.
With that’s you’ve successfully registered and if you would like to add security to your account, head to your dashboard and enable 2FA.
How to Make a Deposit On Binance
Once the registration process is done, to make a deposit you’ll:
- Tap on deposit cash option.
- Choose the currency and payment method you wish to make use of.
- Type in your card details and click on the Verify Now option.
Follow the prompt that comes after that and Successfully deposit crypto from an external wallet or make use of your credit card.
How to Purchase Crypto through Binance Wallet
Making use of your Bianace account, once your wallet has been credit with fund( meaning your wallet has gotten some cash in it). You’ll:
- Search for the Buy Crypto page and choose the icon which you’ll like to use.
- Sum up the payment options then follow the steps provided.
Your Crypto should be purchased in no time. If you wish not to store the coins on Binance, you could send them to an offline wallet of your choice.
Advantages of Binance Wallet
Some advantages people stand to benefit are:
- Low trading fees.
- In-built wallet
- Safe and Secure.
- It’s available worldwide.
- Several Payment options
- It’s multi-device support (web, mobile, Windows, macOS).
Disadvantages of Binance Wallet
- Largely unregulated
- Centralized exchange
- High fees charged on Credit/Debit card payment.
Is Binance Wallet Safe?
The truth is there’s never a cryptocurrency exchange that’s got 100% assurance of stability. They all will fluctuate but Binance is making sure that all user funds are safe. Based on research carried out, Binance popped in quite early but regardless of that, its crypto platforms have tight security measures. Binance Wallet has a safe exchange wallet, secure with the latest technology and its SAFU initiative which provided a safety net.
It’s made sure all it’s users follow the security protocols such as fulfilling KYC requirements before trading in the platform. The fact remains Binance Wallet is one of the very best and should be considered and made use of just in case you’ll like to go into cryptocurrency exchange ( there’s this confidence it gives).
Binance Wallet has got a great professional team with mind-blowing security and genuine trading volume. Don’t miss out on it!