This overview of Binance and its ecosystem will give an overview of the Binance exchange, and the functions of the BNB token within the ecosystem. Why is Binance today synonymous with a reliable cryptocurrency exchange?
Since 2022, the exchange has launched a futures division, Binance Futures, for margin trading.
Go to the Russian version of Binance Futures
Go to the Russian version of Binance
Useful links to the exchange in the media space: Telegram, Twitter, Medium, Instagram, Reddit, Facebook
How the Binance card works
Issuing a debit bank card from the exchange makes it possible to use cryptocurrency 100%. Binance Card allows you to transfer crypto to fiat in real time in a matter of seconds. Moreover, users who have such plastic or a virtual analogue will not pay a commission to intermediaries for withdrawals from Binance. The card allows you to pay for purchases in supermarkets, restaurants, gas stations and all other places where credit cards are accepted.
How to top up?
After you become the owner of a Binance card in Russia or another country in the world, you can deposit money. The user just needs to go to the Card Wallet section and transfer (not convert to fiat) from the spot wallet to the Binance bank card account. Undoubtedly, daily limits will be introduced on the transfer of crypto from the exchange to the card. They will be discussed later. But still, this is a very convenient way to withdraw crypto into fiat. The release of cards in Russia will be a real breakthrough in this area. It is not for nothing that today the owners of Binance are actively working to resolve the issue.
Features of use
All potential owners are interested in some questions regarding the use of the Binance visa card in everyday life. We tried to find answers to them.
- Conversion. When paying for purchases, the cryptocurrency will be converted at the current rate to the fiat currency specified when the card was issued. For example, if you specified dollars in the settings, then the envelope will be at the exchange rate to USD.
- Sequence. Card Wallet implements coin order settings. that is, each user can independently set a priority which coin will be spent first when making purchases from the card.
- Cash. You can withdraw cash from any ATM in the world. All you need is a PIN code. It is issued with the presentation of plastic.
- Functionality. Binance Card can be added to Apple Pay and Google Pay. Easily pay for purchases from your phone.
How to order a Binance bank card in Russia?
I repeat that you can place a pre-order on the exchange website, but it is still impossible to receive a Binance visa card in 2022.
Not all exchange users can receive it. Access is open only to those who have passed two-level verification. While the plastic Binance card comes to Russia, the owner will be able to use the virtual one. It has all the same functionality as a regular one.
The list of countries where you can order a Binance exchange card is published on the website and in the application. I will say right away that today Russia, Ukraine, Belarus and Kazakhstan are not there. All that remains is to wait.
Register using referral ID: AHJUCEJW and receive a discount of up to 40% on Binance commissions for all transactions.
Registration with benefits
Instructions
- First, go to the official website www.binance.com and register
- Next, we go through verification - to receive a Binance Card, it is mandatory
- Go to the Finance section - Binance Card. If it is not there, follow the link: https://www.binance.com/en/cards/register-interest
- We choose to order. You can also explore more information about the product.
- We are filling the country. If you chose Russia, you will receive information that delivery is currently impossible; as soon as the issue is resolved, you will receive an invitation to the e-mail specified when registering your account.
After the steps have been taken, all that remains is to wait for news and an email from the exchange about the possibility of receiving a Binance card in Russia.
About the cost and delivery time
Previously, the issue of the first binance bank card cost $15. It became free in 2022. But for re-issuing plastic there will be a charge of 25 euros. Maintenance and all operations are free. Delivery to the Russian Federation and CIS countries – from 7 to 14 days. But at this time the virtual card will already be active.
Competitions from Binance (Competitions)
Among hundreds of other cryptocurrency exchanges, Binance stands out for its regular competitions and competitions, during which prizes are by no means the cheapest.
The competition is held in collaboration with various projects whose cryptocurrencies are listed on Binance.
Often the competition has one formula: The winner receives SOMETHING for the maximum traded volume of SOMETHING for SOME period.
An example would be competitions involving such cryptocurrency projects as BitTorrent, which was held on February 21, 2022.
$BTT Trading Competition, 200,000,000 $BTT To Give Away!https://t.co/BXBv8oRyBR pic.twitter.com/tjSoMv6a7k
— Binance (@binance) February 21, 2019
There is a possibility that such events are nothing more than a customized PR move. Since it is not uncommon for the organization of a competition to lead to a pump in the exchange rate. Thus, any information about listings or planned competitions is strictly classified.
Activation
After successfully ordering a Binance card, you will need to activate it. This can be done almost immediately. While the card in the application is displayed in a darkened gray color, its activation is impossible. As soon as the yellow “Activate” button appears, you can begin the process. For this:
- Go to the “Maps” section at the office. website or app
- Enter the three-digit CVV code. It is indicated on the back side (like all credit cards) or in a letter from Binance
- Remember or write down the PIN code that appears on the screen. If you forgot it, you can restore it using the 2FA verification code.
Errors on Binance and their solutions
Below are all the errors found related to registration, authorization, and trading on the Binance platform. The list is updated periodically.
Error during authorization via 2FA
2FA Error
The solution to this error in most cases is the incorrectly set time on the device from which the request is made. Set the time to automatically update according to your time zone. After that, start authorization from the very beginning. Also check that VPN and other services that impede the Internet connection are turned off
Two-factor authentication binding failed
Binding failure
Here, as in the previous case, the solution is to correct your time and date. In addition, the error may occur due to an incorrectly selected application on your smartphone for binding.
Binance bug when changing language
Go to the Russian version of Binance
There is a small bug in the exchange interface: when changing the language, the necessary window for selecting the desired language disappears when the cursor is hovered over it. It looks like this:
Binance bug. Can't select language
Solution to the problem: You can simply change any language in the address bar to, for example, Russian:
Change language like a hacker
After this procedure, the Binance exchange will again be in Russian.
Pros and cons of the Binance card
The Binance Card simply does not have any significant disadvantages. But there are plenty of advantages:
- Possibility of real-time cryptocurrency settlements
- No fees for converting crypto to fiat
- No service fees, transfers or withdrawals
- Functionality and modernity
- Support for all Binance tokens
- Currently only available in Europe
- Mandatory verification
- Limits
As a conclusion, I would like to note that bank cards are issued not only by Binance, but also by other cryptocurrency exchanges. The idea is very user-friendly. Today it is still in the development and testing stage. I think that once orders are opened for Russia, there will be limited quantities. But still, the entire world economy is waiting for this moment. It will be interesting to observe such innovation in the cash flow of companies and countries.
How to get verified by Binance
How to pass three-level verification for users
Verification for Binance is a procedure for confirming your identity. On Binance, users are divided into 3 levels:
- First level - verified clients (Limit 2 BTC within 24 hours)
- The second level is users who have passed verification and provided all the required proof of identity. (Limit 100 BTC for 24 hours)
- Third level - Businesses and funds registered on Binance with an individual limit for withdrawals. (Up to 200 BTC within 24 hours). To obtain it, you must personally contact Binance technical support, and the project team will conduct a full check, during which you will need documents confirming the existence of the business, for example, constituent documents.
In order to pass verification for Binance and get at least the second level, you must provide some data about you to the exchange, among the data and documents that must be provided:
- Full name of the account owner for verification
- A country
- Floor
- Passport photos (Home page + registration)
- Selfie with passport
Despite the laboriousness of the process, all users who have passed verification once and for all increase their withdrawal limit. It is worth noting that when withdrawing any cryptocurrency, the payment will be made in bitcoins.
FAQ
The great interest in the Binance card is due to the large number of questions on the topic. Below we have collected the most frequently asked questions and tried to answer them.
What cards does Binance issue?
Electronic, debit plastic and gift
Who is the issuer of the bank and what payment system?
Only VISA cards are issued, the issuer is Swipe.
When will it be possible to order a Binance card to Russia?
There is no news on this yet. I advise you to pre-order now and keep an eye on the mail. Wait for letters and news on the stock exchange. work in this direction is underway.
Who will deliver the card and how much does it cost to send it?
The courier will deliver the card. It is difficult to say which service yet, since there is no official statement about cooperation and delivery of cards. You don’t have to pay for the registration and delivery of the Binance Card - everything is free.
What are the limits when transferring crypto to a card?
Today it is known that for the virtual analogue it is 870 euros per day. for real banking – 8700 Euro.
How to top up?
Only through the section on the exchange - Pay Wallet.
How to trade on Binance exchange
The entire trading process on the Binance exchange comes down to buying and selling cryptocurrency. To trade on the Binance exchange, you must understand all the risks that come with trading cryptocurrencies. And have at least the basic basics. Our series of articles on trading will help you with this:
- TOP 15 Mistakes Beginner Traders Make
- How to trade cryptocurrencies for a beginner: useful links and cases
- Where to trade cryptocurrency? Choosing a cryptocurrency exchange
- We simplify the trading process. List of verified services
