Binance Canada Review 2023: Pros, Cons, Fees, & Alternatives

binance canada review

It is a priority for CBC to create products that are accessible to all in Canada including people with visual, hearing, motor and cognitive challenges. First, start by downloading the app or using the desktop version on your computer. The first thing that the app will ask you to do is choose your Shakepay username, enter your email and password, and press sign up. Transferring your crypto from Shakepay to Binance is super easy.

Fees are reduced even further if you use the network’s native coin, Binance Coin, to pay for gas. When gas fees are paid using the BNB token, both the makers and the takers receive a 25% reduction on their trading expenses. Binance operates digitally, with real money deposited and withdrawn but saved in a digital wallet. The Binance Futures user interface is nearly identical to the Binance spot trading interface, with the exception of a few additional options for adjusting leverage and displaying open positions. So, Binance users who have the Brave browser installed can easily use the widget to see and manage their cryptocurrency portfolios as well as buy and sell cryptocurrency on Binance.

Binance Reviews

The Binance Exchange promoters recently partnered with Simplex to offer a brokerage service that allows the acceptance of credit and debit cards. Users can choose between two major interfaces for spot trading. The “Convert” interface is the most user-friendly option since it disables all sophisticated elements like charts and order kinds. For now, Binance does promote Trust Wallet, because, for now, it doesn’t have its own cryptocurrency wallet. In general, a crypto wallet is a safe location to save your funds.

  • Binance is available to users in all Canadian provinces except Ontario.
  • Margin trading is provided for some trading pairs, letting users trade with up to 10x leverage on particular currencies.
  • The Binance exchange “Visa Card” allows traders to sell or spend their cryptocurrency earnings in establishments that only take credit or debit cards in exchange for real money.
  • That said, the fee is not set and will vary based on various factors, including your trading volume.
  • You can swap crypto-to-crypto or trade fiat-to-crypto on the platform.
  • There should be an algorithm or something that shows you transferred in from your bank account 100x and each time it went through.

Trading fees are some of the lowest in the market, with the highest fee being 0.1% for both maker and taker trades. The last way that you can purchase crypto on Binance using Canadian dollars is via a third party. The two options supported by Binance are Simplex, which allows you to pay with Visa and MasterCard, and BANXA, which will enable you to pay with Visa, MasterCard or Bank Transfer. Once you click continue, you will leave Binance and complete your transaction with your chosen third party. Binance will then show you how much of your selected currency you’ll receive. After you click continue, you will need to entire all your card details to link your card to your account.

Best exchange platform

Simply click on the Chat icon to begin chatting with a Binance representative. While we are independent, we may receive compensation from our partners for featured placement of their products or services. The deposit fees are low or non-existent for fiat, with none for crypto. Withdrawal fees are low for fiat, and crypto withdrawal fees vary by network congestion and asset.

This service allows you to use a credit or debit card to purchase a range of different cryptocurrencies, as well as to deposit fiat dollars into your account. Binance provides traders with a peer-to-peer trading service that links buyers and sellers of bitcoin directly. This helps with fiat payments by giving users a wide range of ways to pay based on their preferences. The Binance exchange “Visa Card” allows traders to sell or spend their cryptocurrency earnings in establishments that only take credit or debit cards in exchange for real money. Binance packs all the features you would want into its platform, eliminating the need to have several wallets and accounts on different platforms.

The Trustpilot Experience

The centralised exchange makes buying and selling crypto easier than ever before and you don’t need to go through any other questionable sites to get to buying. All the main cryptocurrencies are available on here and new ones area added all the time for when you want to expand your portfolio. It is the maximum used cryptocurrency alternate withinside the international this means that all markets are noticeably liquid and provide low slippage. Binance has been one of the high-quality in relation to innovation. Binance hosts certainly considered one among the biggest choices of cryptocurrencies throughout any alternate.

2 Products with instant approval have a provisional decision within 60 seconds. The credit provider’s final decision is made at their discretion, subject to decisioning criteria. It goes against our guidelines to offer incentives for reviews. Lost lot’s of money with the recent hacking on Binance please fix your security issues!

Our take on Binance

For first-timers, the platform can be quite overwhelming as there are rather way too many features. You can really tell Binance app takes security very seriously. Love the real-time charts, navigation and layout is well thought out. Set where you live, what language you speak and the currency you use. 1 The use of “featured”, “popular”, “best” and “top” on Finty do not constitute a product rating or recommendation and are subject to our general disclaimer.

binance canada review

Plus, crypto trading is a delicate game, so make sure you never put more than you can afford to lose on the Binance exchange. The Binance Visa card doesn’t charge any administrative or transaction fees. But before you jump, you need to choose the right crypto exchange where you can trade, store, or stake virtual assets.

One of the main attractions of Binance is that it has some of the lowest fees among cryptocurrency exchanges. What I loved most about this software is that it eliminated the stress of constantly looking for who will buy my assets. Binance has provided a feature for easy sales and buying of crypto, safe and secure. They connect you with a number of available and reliable merchants. They also provide tons of payment options and currencies, which has been helpful. Binance is also a very easy-to-use platform compared to other platforms, they also leave help notes on every page so you know how to use each feature and that is very helpful.

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In addition to Binance, you can use several other crypto trading platforms in Canada, including CoinSmart, NDAX, Newton, Coinberry, and Shakepay. Yes, Binance appears to be a legit company that supports many cryptocurrencies and offers different types of crypto transactions to its users. Binance supports anything crypto, and it’s like a hub for all your cryptocurrency needs. Users can trade over 600+ crypto tokens on the platform at extremely low fees of 0.1% and below.

Best Crypto Exchange

We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms.

  • The platform is best suited for existing Wealthsimple clients to hold crypto without moving to another crypto trading platform.
  • No users’ funds were stolen because Binance used its emergency insurance fund to cover the loss.
  • Maintaining independent cryptocurrency trading and investing
    records off-exchange is vital any cryptocurrency trader or
  • The cost typically ranges from 0-2.5 percent, with set values for specific currencies.

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