Binance Review: Features, Trading, Pros and Cons

Binance Review: Features, Trading, Pros and Cons

In general, I thought Binance was a good exchange that offered a variety of cryptocurrencies and services. While there was a small learning curve, I found it was easy to buy and sell cryptocurrency on Binance. However, because of the numerous features, I had difficulty navigating through the site; it was slightly overwhelming. I also had to read the tutorial articles to withdraw crypto from my account. I funded my account through the Deposit feature found on the Fiat and Spot menu.

Install Our Apps

You can swap crypto-to-crypto or trade fiat-to-crypto on the platform. There were other ways to buy crypto on Binance besides depositing money into your account. You bought cryptocurrency using CAD with a credit or debit card, through P2P Trading, or a third-party payment provider.

If you need to contact customer support, Binance has a 24/7 customer support system via live chat on their website. They also have an extensive help center with FAQs, tutorials and videos. Luckily, in my personal experience, I’ve been using Binance since 2017 and have never even needed to use their support team. All write-ups and articles do not constitute financial and legal advice in any way whatsoever but for information purposes only. When making financial and legal decisions and commitments, we strongly recommend you consult your professional financial and legal services provider. This ensures we understand your priorities and can recommend the best crypto exchange for your needs.

How to Buy BNB in Canada in 2025: My Complete Guide

• Customers can choose between daily, weekly, biweekly, and monthly purchases, and Binance will complete the purchase using a linked payment method.
• The charts in this mode have more analytical functionality to support more complex technical analysis.
• For example, if you want to deposit GBP, you can only use Visa or Mastercard.
• However, fiat currency transactions incur charges based on the currency and method used.
• There are other fees you will have to pay, but they are relatively low.

These challenges and others have raised concerns among investors and traders, leading them to consider other cryptocurrency exchanges. Since you are considering using Binance for crypto trading, it is only right that you know the ins and outs of the exchange. To sell an NFT on the marketplace, set a fixed price, start a timed auction, or accept offers from buyers.

• The amount of cashback rewards users can earn with the Binance VISA debit card depends on the amount of BNB coins locked in a Binance wallet.
• In this Binance Canada review, we’ll break down the platform’s fees, supported cryptocurrencies, account verification process, security measures, and more.
• He has been investing in Bitcoin and cryptocurrencies since 2017.
• It has much of the same features as the Verified account except you get a $200,000 daily limit for deposits and withdrawals plus a Binance card.
• That said, a VPN can access Binance from anywhere since it offers servers in multiple countries.

Subscribe for the latest crypto news in Canada

Seasoned traders will appreciate the crisp, streamlined, highly responsive charts on desktop and mobile. Binance.US offers a user-friendly platform with competitive fees and an binance canada review extensive range of cryptocurrencies for trading. Although its parent company faced security breaches in the past, Binance.US has maintained a strong reputation for safety among industry experts.

Binance Coin (BNB)

Plus, crypto trading is a delicate game, so make sure you never put more than you can afford to lose on the Binance exchange. Plus, Binance offers many different types of trading options, while Coinbase supports only basic crypto transactions. Coinbase supports only about 44 cryptocurrencies and charges 0.5% per trade, which is roughly five times what you’ll pay on Binance.

Best Crypto Exchanges For Day Trading in Canada in 2025

It’s no wonder, then, that Binance leads the pack regarding daily trading volume, keeping its standing as the most widely used crypto exchange worldwide. Several features make the Binance NFT marketplace a highly recommended NFT platform. These include the ability for users to create NFTs inside their accounts and the support for Ethereum NFTs, among others. The Binance NFT marketplace is simple to use as it integrates seamlessly with the rest of the Binance ecosystem. In addition, it saves users the time and effort of having to open and manage several accounts for all of their cryptocurrency-related requirements.

You can access this feature by selecting the wallet tab located on the top right of the screen, then scroll down and click Fiat and Spot. You have the option of selecting the cryptocurrency you want to deposit. After you select the network, a deposit address will be generated for you.

The way you can fund your account depends on the exact fiat currency you’re using. For instance, GBP can only be used to deposit funds into your account using Visa or Mastercard. On the other hand, you can deposit EUR using Visa, Mastercard, SEPA transfer, and P2P Express. Binance was one of the top crypto exchanges in the world, and many Canadians used it to trade their favourite crypto coins. However, Binance was not allowed to operate in Ontario due to the Ontario Securities Exchange’s demands to protect Ontario consumers. A summary of Canada’s major cryptocurrency exchanges and brokers.