My opinion on Binance
Binance stands as one of the world’s largest and most versatile crypto trading platforms, established in 2017 and serving over 170 million users globally.It offers a broad selection of cryptocurrencies, competitive fees that undercut many rivals, and a comprehensive suite of trading options, making it highly appealing for active traders and investors.Although Binance provides state-of-the-art trading tools, staking, and lending products, it does so with a regulatory status that’s evolving in Canada and globally; security features are robust, with strong track records for safeguarding assets.Pricing remains a core strength, with low spot trading fees and deep liquidity beating most primary competitors. On Trustpilot, Binance currently holds a score of 2.1/5 based on more than 26,000 reviews, reflecting mixed user experiences primarily tied to customer service and account access.In summary, Binance excels in cost-efficiency, crypto variety, and advanced features, though users in CA must consider limitations related to regulation and fiat options.Based on my experience, Binance is best suited for the following types of traders:
➡️ The active trader seeking low fees and advanced tools: this profile looks for competitive trading costs, deep liquidity, and access to a wide range of trading options including spot, futures, and margin. Binance is ideal for these traders thanks to its low fees, comprehensive suite of tools, and extensive market pairs.
➡️ The crypto investor focused on earning and lending products: this type of user wants to generate passive income through staking, savings, or crypto-backed lending. Binance caters well to this profile with its diverse earn products and flexible lending solutions, all within a single platform.
➡️ The user comfortable navigating a complex platform for maximum versatility: this profile values access to hundreds of crypto assets, various DeFi and NFT integrations, and powerful APIs for automation. Binance suits these users who are ready to leverage its advanced ecosystem, despite its steeper learning curve and evolving regulatory landscape.
- ✅Extremely competitive trading fees and tight spreads
- ✅Unmatched range of listed cryptocurrencies (300+ assets)
- ✅Access to staking, lending, earn, and DeFi products within one platform
- ✅Integrated and secure wallet infrastructure
- ✅Robust security measures (e.g., SAFU insurance fund, regular audits)
- ✅Advanced trading tools including TradingView integration and API access
- ✅Fast trade execution with high liquidity
- ✅Educational resources and responsive multilingual support
- ✅User-friendly interface for both desktop and mobile
- ✅Fiat on-ramp supporting select CAD options
- ✅Testnet/demonstration mode available for derivatives and futures trading
- ❌Changing and sometimes unclear regulatory standing within Canada
- ❌Some withdrawal and possible inactivity fees apply
- ❌Limited fiat deposit/withdrawal methods for Canadian Dollars
- ❌Overnight and funding fees for leveraged and derivative products
- ❌Customer support can be slow during high-volume periods
- ❌Not all DeFi integrations are fully transparent or accessible in-app
- ❌Trustpilot reviews point to issues with customer service and account access
- ❌Some geographic restrictions and feature limitations for users in CA
Score- ✅Extremely competitive trading fees and tight spreads
- ✅Unmatched range of listed cryptocurrencies (300+ assets)
- ✅Access to staking, lending, earn, and DeFi products within one platform
- ✅Integrated and secure wallet infrastructure
- ✅Robust security measures (e.g., SAFU insurance fund, regular audits)
- ✅Advanced trading tools including TradingView integration and API access
- ✅Fast trade execution with high liquidity
- ✅Educational resources and responsive multilingual support
- ✅User-friendly interface for both desktop and mobile
- ✅Fiat on-ramp supporting select CAD options
- ✅Testnet/demonstration mode available for derivatives and futures trading
My opinion on Binance
- ✅Extremely competitive trading fees and tight spreads
- ✅Unmatched range of listed cryptocurrencies (300+ assets)
- ✅Access to staking, lending, earn, and DeFi products within one platform
- ✅Integrated and secure wallet infrastructure
- ✅Robust security measures (e.g., SAFU insurance fund, regular audits)
- ✅Advanced trading tools including TradingView integration and API access
- ✅Fast trade execution with high liquidity
- ✅Educational resources and responsive multilingual support
- ✅User-friendly interface for both desktop and mobile
- ✅Fiat on-ramp supporting select CAD options
- ✅Testnet/demonstration mode available for derivatives and futures trading
- ❌Changing and sometimes unclear regulatory standing within Canada
- ❌Some withdrawal and possible inactivity fees apply
- ❌Limited fiat deposit/withdrawal methods for Canadian Dollars
- ❌Overnight and funding fees for leveraged and derivative products
- ❌Customer support can be slow during high-volume periods
- ❌Not all DeFi integrations are fully transparent or accessible in-app
- ❌Trustpilot reviews point to issues with customer service and account access
- ❌Some geographic restrictions and feature limitations for users in CA
Score- ✅Extremely competitive trading fees and tight spreads
- ✅Unmatched range of listed cryptocurrencies (300+ assets)
- ✅Access to staking, lending, earn, and DeFi products within one platform
- ✅Integrated and secure wallet infrastructure
- ✅Robust security measures (e.g., SAFU insurance fund, regular audits)
- ✅Advanced trading tools including TradingView integration and API access
- ✅Fast trade execution with high liquidity
- ✅Educational resources and responsive multilingual support
- ✅User-friendly interface for both desktop and mobile
- ✅Fiat on-ramp supporting select CAD options
- ✅Testnet/demonstration mode available for derivatives and futures trading
Why trust Hellosafe?
I’ve personally spent significant time on Binance, testing its trading platform as both a beginner and a more advanced user. I made real trades, examined the range of tools and features, and evaluated the clarity of the interface. To get a full picture, I analyzed Binance’s fee structure and put its customer support to the test, noting how responsive and useful the team was when I needed help.
My review wasn’t just about isolated use—I compared Binance directly to other regulated crypto and CFD brokers available in Canada. This hands-on approach gave me direct insight into how Binance’s trading conditions and overall user experience measure up, and where it might be stronger or weaker than competitors.
All my opinions are based on genuine trial and comparison rather than hearsay or marketing talk. My aim is to be transparent, so you have a trustworthy, experience-backed view of what Binance is really like for Canadian traders.
Binance at a glance
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| Fonctionnalité | Détail |
|---|---|
| 💰 Dépôt minimum | CA$ 0 (crypto); varies for fiat and payment method |
| 🛡️ Régulation | Not registered as a regulated exchange in Canada |
| 📜 Licence crypto | Limited; operational licenses in select global jurisdictions |
| 🏛️ Enregistrement FSMA | Not applicable |
| 🪙 Cryptos disponibles | 350+ cryptocurrencies |
| 📊 Plateformes de trading | Web platform, iOS & Android mobile apps, advanced desktop app (Binance Desktop) |
| 👛 Crypto wallet | Binance custodial wallet; Trust Wallet (non-custodial, recommended by Binance) |
| 🧪 Compte démo ou testnet | Testnet and demo environment available for futures/trading |
| 🏦 Staking / Lending | Staking, savings, and flexible lending options available |
| 💳 Carte crypto | Not available in Canada |
| ⏫ Effet de levier (si applicable) | Up to 125x leverage on futures (Futures & Margin not accessible for CA users) |
| 💸 Frais | Spot trading: 0.10% standard fee (discounts with BNB or higher volume) |
| 🔐 Sécurité | SAFU insurance fund, cold storage, 2FA, withdrawal whitelist, proof-of-reserves reports |
| 📞 Support client | 24/7 live chat, email, extensive help center |
| 🌟 Avis Trustpilot | 2.0/5 (as of 2024) – mixed global user reviews |
Security & Regulation
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Binance remains the world’s largest crypto exchange by trading volume, with a proven technical infrastructure and a layered security approach. I find its asset protection standards strong: assets are held primarily in cold storage, there is regular publication of proof-of-reserves, and Binance maintains one of the largest insurance funds (SAFU) in the industry. However, Binance faces significant regulatory limitations for Canadian users; it operates without direct Canadian oversight and has faced restrictions and legal scrutiny from local authorities.
Security tools on Binance are best-in-class, with compulsory two-factor authentication, withdrawal whitelist options, and advanced anti-phishing and account monitoring features. Market reputation is shaped by a global user base and high rankings on various review platforms, but recent regulatory headlines and ongoing legal actions create some uncertainty for users in regulated markets like Canada.
| Indicator | Description | Evaluation |
|---|---|---|
| Regulatory compliance | Not licensed by Canadian regulators; history of regulatory actions and restrictions in CA and globally | 2.5/5 |
| Fund security | Majority of user funds in cold wallets; regular proof-of-reserves; SAFU insurance fund | 4.5/5 |
| Risk management tools | Mandatory 2FA, withdrawal whitelist, anti-phishing code, real-time monitoring | 5/5 |
| Notoriety and coverage | Largest global exchange; broad user adoption; high Trustpilot ratings; reputational impact from regulatory controversies | 4/5 |
Fees, Spreads & Commissions
Binance stands out with some of the lowest spot trading commissions in the global crypto industry, with standard trading fees starting at 0.10% for both maker and taker orders; users can further reduce these rates by holding and paying with BNB, or by reaching higher 30-day trading volumes. These low structural fees, along with frequent fee promotions on major pairs (such as zero-fee trading for BTC/USDT), create significant cost benefits for regular and high-volume traders compared to almost all Canadian and global competitors.
Spreads on Binance are generally among the tightest in the market, owing to massive liquidity and deep order books across major cryptoassets. Even during periods of volatility, I find that spreads remain highly competitive, seldom exceeding 0.05%–0.10% on popular pairs like BTC/ETH. While the effective cost for retail trades is mostly the nominal commission, less-liquid tokens—or trading during off-peak hours—can produce wider spreads, something I monitor when executing large or niche trades.
For staking, Binance deducts a transparent service fee from rewards before distribution, varying by token (typically 2%–10% for popular networks). This is in line with or lower than the service charges on most centralized competitors, and users can often see net yields up front, making accurate comparisons straightforward. Lending products (Simple Earn, Flexible/Locked) operate with no explicit fees, but returns quoted are after Binance takes its share, consistent with top exchanges, and usually competitive.
Hidden fees are rare: there are no deposit or inactivity charges, and custody is included for free. Withdrawal fees vary by asset and blockchain, with rates often better than or matching the global crypto average; however, certain coins—particularly on congested networks—occasionally incur fees higher than fiat-focused brokers.
What are the account-related fees?
| Fee Type | Conditions at Binance | Market Average |
|---|---|---|
| Opening fee | $0 | $0 |
| Maintenance fee | $0 | $0–$10/month |
| Withdrawal fee | Crypto: network fee (e.g., ~$1 BTC, $0.2–$5 USDT); fiat: $1–$15 | Crypto: $1–$25; Fiat: $0–$50 |
| Inactivity fee | $0 | $0–$5/month |
| Currency conversion fee | 0.5%–1% | 1%–3% |
Tip
Use BNB to reduce spot trading fees, and always check current crypto withdrawal fees, as they vary by network congestion.
Integrating staking or lending within Binance can avoid third-party costs and simplify yield management.
What are the fees on cryptocurrencies?
Fee transparency is a core strength at Binance. Trading commissions start at 0.10% (maker/taker) and can drop as low as 0.02% for high-volume accounts or when paying with BNB. Spreads on major pairs are negligible thanks to liquidity depth, and there are no overnight or custody fees. Withdrawals are charged at dynamic network rates, often among the best in the industry.
| Fee Type | Conditions at Binance | Market Average |
|---|---|---|
| Buy/sell fees | 0.10% standard (lower with BNB/volume) | 0.1%–0.5% |
| Spread fees | ~0.02%–0.10% on major pairs | 0.1%–1% |
| Overnight fees | $0 (non-margin spot); applies to leverage | $0–$5/day (for margin/CFD) |
| Custody fees | $0 | $0–$50/year |
| Transfer fees | Dynamic; e.g., $1 for BTC, $0.2–$5 USDT | $1–$25 |
What are the fees on staking and lending?
Binance charges a staking service fee deducted from rewards, typically 2%–10% depending on the blockchain, which is transparent at the time of subscription. Lending service fees are included in the quoted yields, and there are no additional early exit charges on most Flexible Earn products, though early withdrawal on locked staking/earn may forfeit accrued rewards. Validator (on-chain) fees are passed through directly and matched with network norms.
| Fee Type | Conditions at Binance | Market Average |
|---|---|---|
| Staking service fee | 2%–10% (deducted from rewards) | 5%–15% |
| Lending service fee | Included in quoted yield | 0%–5% margin |
| Early withdrawal fee | Forfeit of rewards (locked products only) | $0–$10 or % reward |
| Network validator fee | Passed through (on-chain, if any) | Passed through |
Available crypto currencies
Binance sets itself apart with unrivaled crypto diversity, offering several hundred spot cryptocurrencies spanning all major blockchain ecosystems. I appreciate the depth in both large-cap tokens and emerging projects, making it straightforward to access new trends or diversify positions.
The platform supports a wide selection of stablecoins, including USDT, USDC, and BUSD, which is ideal for risk management, yield generation, and efficient trading. Binance’s staking and “Earn” suite covers flexible and locked programs with dozens of supported assets, giving users access to passive income options—though yields and availability can fluctuate based on market conditions.
For advanced users, Binance offers one of the broadest sets of derivatives, including perpetual futures, standard futures, and options on numerous cryptocurrencies. I find the trading tools and leverage options well suited for both institutional and retail participants with robust risk controls.
While the NFT marketplace is available, selection can be more limited in comparison to specialized NFT-only platforms. Another limitation: Canadian residents may face regional restrictions or lower availability for certain derivatives and earning products due to compliance requirements.
Overall, Binance is extremely well suited for active traders and portfolio managers interested in deep asset coverage, sophisticated products, and flexible yield options.
| Asset Class | Type | Number at Binance | Market Average | Example Assets |
|---|---|---|---|---|
| Cryptocurrencies (spot) | Broad (major, altcoins, DeFi, etc.) | 350+ | 60–150 | BTC, ETH, DOGE, SOL, APT |
| Cryptocurrencies (CFD) | Futures, options, margin | 200+ | 10–100 | BTC/USD Perp, ETH Options |
| Stablecoins | Fiat-backed, algorithmic | 10+ | 3–8 | USDT, USDC, BUSD, TUSD |
| NFTs | Multi-chain marketplace | 100,000+ | 20,000+ (on platforms) | Top Shot, native Binance NFTs |
| Other derivatives | Leveraged tokens, options, futures | 100+ | 5–30 | BTCUP, BTCDOWN, ETH Futures |
Staking, DeFi Staking and Lending
Staking, DeFi staking, and lending are essential services for crypto investors aiming to earn passive income and make the most out of idle assets within a diversified digital portfolio.
Staking
I consider Binance's staking options among the most diverse and accessible, supporting a wide range of coins including both fixed and flexible terms to fit different risk appetites. Yields on major assets are generally competitive, and the platform’s interface provides transparency about lock-up periods, payout intervals, and any applicable fees. Compared to other major exchanges, I find Binance frequently offers higher reward rates due to its global scale, though users should always consider the risks of centralized custodianship.
| Crypto | Rate or Fee at Binance | Market Average | Key Conditions |
|---|---|---|---|
| ETH | Up to 4.1% APY (variable) | 3.5%–4.0% | Locked or flexible, platform fee |
| BNB | Up to 2.7% APY | 2.0%–3.0% | Flexible staking available |
| USDT | Up to 5.3% APY (flexible) | 4.0%–7.0% | No lockup with flexible savings |
| ADA | Up to 3.2% APY (variable) | 2.5%–3.5% | Locked for 30 to 120 days |
| BTC | Up to 1.1% APY (variable) | 0.5%–1.5% | Product availability limited |
Staking DeFi
Binance offers integrated DeFi staking products that let me access DeFi yields without interacting with decentralized protocols directly. This service is helpful for users who want higher returns than conventional staking, but with the convenience and support of a centralized platform. The trade-off is that Binance assumes custody of the assets, which can reduce the risk of technical mistakes but creates reliance on their operational security.
| Crypto | Rate or Fee at Binance | Market Average | Key Conditions |
|---|---|---|---|
| ETH | Up to 6% APY (variable) | 4%–8% | Yields change by pool, platform fee |
| USDT | Up to 8% APY | 6%–10% | Associated DeFi protocol fees apply |
| BNB | Up to 5% APY | 3%–7% | Protocols aggregated by Binance |
| BUSD | Up to 7% APY | 5%–8% | Flexible or locked |
Lending
Binance’s lending platform provides a broad selection of coins for both flexible and fixed-term lending, making it easy for me to earn interest on idle crypto. Rates are generally attractive, especially during periods of high market demand, and funds can be redeemed quickly in most flexible products. However, rates can fluctuate frequently, and some high yields are only available for short promotional periods or capped allocations, so it’s important to review terms closely.
| Crypto | Rate or Fee at Binance | Market Average | Key Conditions |
|---|---|---|---|
| USDT | Up to 7% APY (flexible) | 4%–8% | No lockup, subject to availability |
| BUSD | Up to 6% APY (flexible) | 4%–7% | Interest paid daily, flexible terms |
| BTC | Up to 1.2% APY (variable) | 0.5%–2.0% | Flexible and fixed options available |
| ETH | Up to 0.9% APY (variable) | 0.5%–1.5% | Terms depend on lending product |
| ADA | Up to 1.5% APY | 1.0%–2.0% | Capped quota, early redemption possible |
Other Services
Additional services beyond the basics of trading, staking, or lending are essential for giving users greater control, flexibility, and choice within the crypto ecosystem.
| Service | Available at Binance |
|---|---|
| Carte crypto | Yes |
| Crypto wallet | Yes |
| ETFs crypto | Yes |
| CFD crypto | Yes |
| Copy trading | Yes |
| API trading | Yes |
| NFT marketplace | Yes |
| Fiat on-ramp | Yes |
| Insurance on funds | Yes |
Crypto card
Binance offers a crypto card that allows me to spend digital assets at merchants worldwide, with direct conversion from selected cryptocurrencies to fiat at checkout. The card provides cash-back incentives depending on my BNB holdings and spending tiers, which is attractive for regular users. However, certain features or card access may be limited based on local regulations in Canada, so checking current availability is important.
Crypto wallet
Binance’s built-in custodial wallet supports a vast range of assets and is tightly integrated with the exchange’s features. I benefit from seamless compatibility across spot, margin, and futures accounts, plus easy transfers between wallet types. For non-custodial solutions, Binance does offer Trust Wallet, giving me additional flexibility compared to exchanges that only support internal wallets.
ETFs crypto
Binance provides access to leveraged crypto ETFs, allowing me to gain magnified exposure to price movements of major cryptocurrencies. While convenient for directional trading and portfolio hedging, these products carry higher risk and require close risk management. Unlike traditional ETFs, Binance’s offering is tailored for short- to medium-term traders seeking to capitalize on market volatility.
CFD crypto
CFD trading on Binance enables me to speculate on the price direction of various cryptocurrencies without ownership of the underlying assets. The platform offers a range of perpetual and quarterly contracts, with adjustable leverage. Compared to some global brokers, liquidity and variety on Binance are standout features, but margin calls and risk of liquidation need to be carefully considered.
Copy trading
Binance’s copy trading feature allows me to follow experienced traders and automatically mirror their strategies. This can be a good entry point for beginners or those seeking exposure to algorithmic trading approaches. Transparency into trader performance and risk scoring helps me make informed decisions, offering an edge compared to more basic platforms.
API trading
For advanced traders, Binance supports powerful API connectivity—enabling me to automate strategies, analyze market data, and execute trades at scale. The API is well-documented and benefits from real-time feeds and robust reliability. While high-frequency trading is possible, care should be taken with rate limits and security, especially compared to more institutional platforms.
NFT marketplace
Binance’s NFT marketplace extends the platform’s reach to digital collectibles and Web3 assets. I can mint, buy, or sell NFTs spanning multiple blockchains, with access for both established and independent creators. Fees are usually lower than on specialist NFT platforms, and there’s the added security of Binance KYC and customer protection.
Fiat on-ramp
Binance offers a user-friendly fiat on-ramp, letting me purchase crypto directly using bank cards, e-transfer, or supported payment providers. Deposit options and fees vary by region, with rapid execution and high reliability. Having quick access to fiat-to-crypto conversion makes Binance convenient for both new and seasoned investors in Canada.
Insurance on funds
Binance provides insurance coverage on its custodial funds through the Secure Asset Fund for Users (SAFU). This acts as a reserve to compensate users in the event of a security breach on the platform. While insurance is industry standard for leading exchanges, Binance’s SAFU fund size and transparency offer noticeable reassurance, especially for larger account balances.
Account Opening & Deposits
Account opening
To open an account on Binance, begin by completing the registration form with your email address and setting a strong password. You will then receive a verification email to confirm your address.
Identity verification (KYC) is required for most services, where you upload a government-issued ID and a recent proof of address, such as a utility bill.
Some users may need to respond to a regulatory questionnaire regarding the source of funds and trading experience.
The document review and validation process typically takes from a few minutes to several hours, especially outside peak periods.
Once approved, you will receive a confirmation email and can access your account for deposits, withdrawals, and trading.
Good to know
Enable two-factor authentication (2FA) during your initial setup to significantly improve your account’s security and protect your digital assets.
| Item | Details |
|---|---|
| Opening procedure | Registration form, email verification, KYC with ID and proof of address, questionnaire (if needed) |
| Validation time | Minutes to several hours; longer during peak demand |
| Accepted deposit methods | Credit/debit card, bank transfer, stablecoins, cryptocurrencies |
| Minimum required deposit | No minimum for crypto; varies for fiat (often $50–$100 CAD) |
| Required documents | Government-issued ID, proof of address, potentially additional regulatory info |
| Practical tip | Keep digital copies of your documents ready for a fast and smooth verification process |
Deposits and withdrawals on Binance
Binance supports deposits and withdrawals via various payment methods, including credit/debit cards, bank transfers, e-wallets, and direct crypto or stablecoin transactions.
Canadian users can deposit and withdraw supported fiat currencies such as CAD and USD, or use a wide selection of digital assets.
Deposit processing times range from near-instant (crypto, cards) to several hours or business days (bank transfers). Withdrawals to crypto wallets are usually immediate after processing, while fiat withdrawals may take longer.
Binance provides an integrated wallet for all supported assets, with an option to seamlessly convert between fiat and crypto.
Fees depend on the payment channel used and current network activity—always check the latest on Binance before confirming any operation.
Good to know
Double-check all details before confirming a withdrawal, especially crypto wallet addresses, as transactions are irreversible and network fees can vary significantly.
| Payment method | Accepted currencies | Minimum amount | Processing time | Possible fees |
|---|---|---|---|---|
| Credit card | CAD, USD, EUR, major cryptos | $50–$100 CAD | Instant to minutes | 1–4% depending on card/type |
| Bank transfer | CAD, USD, EUR | Usually $50–$100 | 1–3 business days | Low (varies by method) |
| E-wallets | Select supported options | Varies | Minutes to hours | Platform/provider fee |
| Cryptos/stablecoins | BTC, ETH, USDT, etc. | Network minimum | Minutes (after confirmations) | Network fee only |
| Other local options | Not widely available | – | – | – |
Customer reviews
Binance has an overall Trustpilot rating of 2.0 out of 5, based on over 25,000 user reviews.
Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :
- Extensive selection of cryptocurrencies and trading pairs
- Competitive trading fees
- Robust trading features and advanced order types
- Staking and earning programs with a range of options
- User-friendly mobile application with frequent updates
- Quick account registration and verification process
En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :
- Difficulty resolving issues with customer support
- Periodic delays or restrictions with withdrawals
- Platform complexity for beginners
- Occasional technical outages during high market volatility
- Account freezes or security checks causing temporary access loss
Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :
_N.D. – 08/05/2024: “Binance’s trading tools are top-notch and the fees are lower than most competitors, but I struggled to get quick help when I needed support.”_
_R.L. – 03/03/2024: “Lots of coins available and the app is easy to navigate. I did have an account hold once when verifying my ID, but it was resolved after a few days.”_
_S.F. – 21/01/2024: “I appreciate the variety of staking options, but as a newcomer, the number of features and settings felt overwhelming at first.”_
FAQ
Is Binance regulated or certified in CA?
Binance is not registered or specifically regulated as a crypto trading platform in Canada. In fact, as of mid-2023, Binance has ceased offering trading services to Canadian residents following changes in local regulatory requirements.
What is the minimum deposit to start trading on Binance?
Binance does not set a fixed minimum deposit across the platform. However, the minimum amount needed depends on your chosen funding method and the smallest tradable amounts for individual cryptocurrencies.
Does Binance offer welcome bonuses or rewards?
Binance may occasionally provide welcome bonuses, deposit rewards, or promotional campaigns, but these offers are not always available and may be restricted in certain jurisdictions, including Canada.
How does staking or earn work on Binance?
Binance has a dedicated “Earn” section where users can participate in staking, savings, and other yield-generating programs using various cryptocurrencies. Access to these features may be restricted for Canadian users due to local compliance rules.
How does Binance earn money (trading fees, spreads, commissions)?
Binance generates revenue mainly from trading fees on spot, futures, and other products, as well as from withdrawal fees, spreads, and some premium services. The fee schedule varies by product type and trading volume.
Who is the team or company behind Binance?
Binance was founded by Changpeng Zhao, also known as “CZ”. The company is led by an international team, operating globally without a single corporate headquarters, and is recognized as one of the largest crypto exchanges worldwide.
When was Binance launched?
Binance was officially launched in 2017 and quickly grew to become a major player in the crypto industry, offering extensive trading features and a large asset selection.
Does Binance provide insurance or proof-of-reserve for customer funds?
Binance maintains emergency asset reserves and reports a Secure Asset Fund for Users (SAFU) to help protect clients in cases of hacking. As of now, Binance does not provide a public, third-party proof-of-reserve audit for all customer assets.
How can I contact Binance’s customer service?
Support is available via the online help center and chat within the Binance app or website. Direct email or phone support is less common, and response times may vary depending on the issue and user location.
Does Binance offer a referral or cashback program?
Binance operates a referral program where users earn commissions when inviting new clients, and may run cashback promotions or special campaigns from time to time. Eligibility for these programs can vary by country and period.
Is Binance regulated or certified in CA?
Binance is not registered or specifically regulated as a crypto trading platform in Canada. In fact, as of mid-2023, Binance has ceased offering trading services to Canadian residents following changes in local regulatory requirements.
What is the minimum deposit to start trading on Binance?
Binance does not set a fixed minimum deposit across the platform. However, the minimum amount needed depends on your chosen funding method and the smallest tradable amounts for individual cryptocurrencies.
Does Binance offer welcome bonuses or rewards?
Binance may occasionally provide welcome bonuses, deposit rewards, or promotional campaigns, but these offers are not always available and may be restricted in certain jurisdictions, including Canada.
How does staking or earn work on Binance?
Binance has a dedicated “Earn” section where users can participate in staking, savings, and other yield-generating programs using various cryptocurrencies. Access to these features may be restricted for Canadian users due to local compliance rules.
How does Binance earn money (trading fees, spreads, commissions)?
Binance generates revenue mainly from trading fees on spot, futures, and other products, as well as from withdrawal fees, spreads, and some premium services. The fee schedule varies by product type and trading volume.
Who is the team or company behind Binance?
Binance was founded by Changpeng Zhao, also known as “CZ”. The company is led by an international team, operating globally without a single corporate headquarters, and is recognized as one of the largest crypto exchanges worldwide.
When was Binance launched?
Binance was officially launched in 2017 and quickly grew to become a major player in the crypto industry, offering extensive trading features and a large asset selection.
Does Binance provide insurance or proof-of-reserve for customer funds?
Binance maintains emergency asset reserves and reports a Secure Asset Fund for Users (SAFU) to help protect clients in cases of hacking. As of now, Binance does not provide a public, third-party proof-of-reserve audit for all customer assets.
How can I contact Binance’s customer service?
Support is available via the online help center and chat within the Binance app or website. Direct email or phone support is less common, and response times may vary depending on the issue and user location.
Does Binance offer a referral or cashback program?
Binance operates a referral program where users earn commissions when inviting new clients, and may run cashback promotions or special campaigns from time to time. Eligibility for these programs can vary by country and period.
