Frequently asked questions about Binance

General questions about Binance

• ❓ What is the minimum age to trade on Binance?

  Binance only allows individuals to sign up on the platform if they are at least 18 years old. [Edit]

• ❓ What jobs does Binance offer?

  Binance offers a variety of jobs, including business development managers and financial derivatives business development managers. You can check the careers section of their website to see the available jobs. [Edit]

Questions about Accounts & Settings

• ❓ Why is my Binance account restricted from sending currencies?

  The platform may restrict you from sending currencies if you have not completed the verification process. Also, you should note that Binance is restricted from operating in several countries, including the USA and the United Kingdom. [Edit]

• ❓ How long does it take until my Binance account will be approved?

  Before you can start using your Binance account, you will have to submit verification documents. You should be able to send all the required documents within 15 minutes, and the website will complete the verification process within ten days. [Edit]

• ❓ Is Binance allowed to lock my account?

  Yes, this service can lock your account whenever they find you in violation of their terms and conditions. [Edit]

• ❓ How can I delete my Binance account?

  You should first go to the security settings of your account, where you can click the button labelled ‘Disable Account’. Next, you should select the delete option and add your email or phone number. After confirming the details, your account will be permanently deleted. [Edit]

• ❓ How can I change my address on Binance?

  To do this, you will have to send a video request to the customer service team asking them to verify your request. You can then change your address. [Edit]

Questions about Buying, Selling & Trading

• ❓ Can I do margin trading on Binance?

  Yes, you can do margin trading on Binance, and this simply involves using third-party funds to conduct asset transactions. [Edit]

Questions about Currencies & Coins

• ❓ How do I buy Bitcoins on Binance?

  To buy Bitcoins on Binance, you should first log into your Binance account and click the button labelled ‘Buy Now’ on the homepage banner. You can then choose the preferred payment method and follow the instruction and add your credit card information. Finally, you should confirm the information and complete the transaction. [Edit]

• ❓ What is BNB?

  BNB is the native cryptocurrency of Binance, and it can be used to trade and pay fees on the platform. When using the coin, you will be able to enjoy lower rates on the Binance exchange. It was created in 2017 and initially worked on the Ethereum blockchain. [Edit]

• ❓ Can you buy Ethereum on Binance?

  Yes, you can buy lots of cryptocurrencies on Binance, including Ethereum. [Edit]

Questions about Service & Support

• ❓ How can I contact the Binance customer support?

  You can contact the website using live chat support. You can also submit queries on social media sites such as Facebook, Twitter, Telegram, and Instagram. [Edit]

Questions about Deposits & Withdrawals

• ❓ How do you transfer money to Binance?

  In order to deposit money into your Binance account, you will have to log into your Binance account and click the button labelled ‘Deposit’. You can then click the fiat option and choose the payment method. You can then add the required details and complete the transaction. [Edit]

• ❓ How do I add my bank account to Binance?

  In order to add a bank account to Binance, you have to click on the option labelled ‘Add a new payment method’. You can then select bank transfer and add your bank details. [Edit]

• ❓ Can you withdraw money from my Binance account?

  When withdrawing money from your Binance account, you will first have to click the ‘Withdraw’ button and go to the fiat tab. You should then pick the fiat currency you want to convert to and select your payment method. Finally, you should add the verification details and add your verification code. [Edit]

• ❓ How do I move BTC from Binance to a wallet?

  You should first open your P2P wallet and click the option labelled ‘Transfer between accounts'. You can then add the email address of the recipient and choose the amount and cryptocurrency you wish to send. [Edit]

• ❓ Why is my Binance deposit still pending?

  Binance deposits may take long because of network congestion. You can consult the support team if you think the payment is taking too long. [Edit]

• ❓ How long does it take to add my deposit?

  Binance deposits take at least one business day, but they may take longer depending on the network congestion. [Edit]

• ❓ Can you transfer funds from Binance to Paypal?

  You should first generate a Bitcoin address on PayPal. You can then go to your Binance wallet, where you can click ‘Withdraw’. Here, you should paste the address you generated on PayPal and add the amount of money you want to transfer from Binance. [Edit]

• ❓ Can I send coins from Binance to a hardware wallet?

  Yes, you should go to the withdrawal section of your account, where you can select the coin that you want to send using the model T. You should then paste the address from Trezor in the withdrawal section and select the amount. [Edit]

• ❓ Is there a minimum amount you have to transfer to your account?

  The minimum deposit on Binance will vary depending on the payment method you choose. The minimum deposit ranges from €1 to €15. [Edit]

Questions about Fees & Pricing

• ❓ Does Binance charge fees for sending or receiving crypto?

  Binance charges a flat fee of 0.1% for spot trading. For withdrawals, the platform takes the equivalent of between $1 and $15. When transacting using BNB, you will be able to pay lower fees. [Edit]

• ❓ Does Binance has any hidden fees?

  The fees you will have to pay on Binance will depend on the amount of money you will be trading, so there are no hidden fees. [Edit]

Getting started with Binance

• ❓ How does the KYC process on Binance work?

  In the KYC process, you will be required to submit certain verification documents, and these include your driver’s license, passport, ID card, social security number, PAN card, and voter ID card. You must also pass facial verification, and this involves the submission of a selfie. [Edit]

Questions about NFTs

• ❓ Can I buy NFTs on Binance?

  Yes, Binance supports the purchase of NFTs. [Edit]

Questions about other Topics

• ❓ Is Binance available in the US?

  Binance was restricted from operating in the USA in 2019, and this was done on regulatory grounds. In the USA, traders can use Binance US, which is a separate and independent exchange. However, Binance still works as the parent company of Binance US. [Edit]

Questions about Security

• ❓ Is Binance.com safe?

  Binance is considered one of the safest crypto exchanges available, and it allows users to protect their accounts with 2-factor authentication. Although the site was hacked in 2019, it has since beefed up its security and is now extremely safe. Also, it has stated that all losses resulting from the hack will be covered by its emergency insurance fund. [Edit]

• ❓ Can I trust Binance with my personal data?

  Yes, this website is secured with SSL encryption technology and will keep your personal data secure. On the privacy policy page of the website, Binance states that it does not sell customer information to marketers and other parties. [Edit]

• ❓ Has Binance ever been hacked?

  Yes, Binance was hacked in 2019, and this resulted in the loss of a lot of customer funds. However, Binance has stated that it will cover all losses, and it has also added extra security features to prevent hacking. [Edit]

• ❓ Is Binance regulated by the SEC?

  No, Binance is not regulated by the SEC and does not operate in the USA. However, it has proven to be a secure crypto exchange. [Edit]

Questions about Taxes

• ❓ Will Binance transfer data to the IRS?

  No, Binance does not transfer any data to the IRS since it does not accept citizens from the USA. As a trader, you will have to check your local laws to determine how you should pay taxes on your trading profits on Binance. [Edit]

Questions about Technology

• ❓ Is Binance based on the Ethereum blockchain?

  Binance Coin or BNB was initially based on the Ethereum blockchain, but it is now the native cryptocurrency of Binance. [Edit]

The unofficial FAQ - Binace

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