binance cryptocurrency exchange
UPDATE 1 December 2021: Binance JEX has closed down due to regulatory pressure from Chinese authorities.
All users were encouraged to empty their accounts no later than on 1 December 2021. The platform released the following message on its website:
As per the latest regulatory requirements, the JEX platform has stopped registration and KYC verification for athbhreithniú binance glassdoor all new users in mainland China on September 30, 2021. To ensure the safety of user assets, all existing JEX users will have sufficient time to clear their accounts and leave the platform before it officially ceases operations on December 1, 2021. For more information on clearing your account, please refer to the full rules and details below:
1.From the date of this announcement, stopped registration and KYC verification for all new users, BTC/ETH/LTC/USDT deposits and the spot trading buy function will be closed. Starting November 21, 2021, all spot trading functions will be closed.
2.From November 21, 2021, all futures trading functions will be closed and any open positions will be automatically closed and settled at the market price by the system.
3.The platform will officially cease operations on December 1, 2021. Users will still be able to login and withdraw assets. Keep in mind, all assets that aren’t withdrawn by December 1 will be stored in paid custody. The system will automatically deduct a 0.5% custody fee from your total holdings each day. Please withdraw your assets in time to avoid custody fees.
Accordingly, we have marked this exchange as "dead". We have also moved it into our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
Binance JEX Review.
What is Binance JEX?
Binance JEX is the part of Binance's exchange empire which focuses on futures trading.
General Information on Futures Trading.
Trading in futures means that you can receive a higher exposure towards a certain crypto’s price increase or decrease, without having the assets necessary. You can do this by "leveraging" your trade, which in simple terms means that you borrow from the exchange to bet more. You can get as much as 100x leverage on this platform.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., going up in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an extra 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC goes down in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
This platform is not only available from your desktop, you can now also access it via your mobile. Most traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smart phone as well. If you’re one of those people, then this platform can still be for you.
An exchange's trading volume is very important for any user of such an exchange. A large trading volume often (but not always) correlates with deep liquidity. When the liquidity at a platform is deep, it means that it will be less difficult for you to find a buyer to your sell order or a seller to your purchase order.
On the date of first writing this review (17 April 2020), kako dolgo traja pregled binance
JEX had a 24 hour trading volume of USD 292 million. According to Coinmarketcap, this trading volume had significantly changed to USD 828 million on the date of last updating this review (2 December 2021). This indicates a highly liquid trading platform. Very impressive.
Binance JEX Trading View.
Different exchanges have different trading views. And there is no "this overview is the best"-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. There are two different trading views at Binance JEX. One is an easier version, that is easier to comprehend but might lack a few of the tools more sophisticated traders require. The easier version looks like this:
The more advanced version of the trading view at Binance JEX looks slightly different, as follows:
Binance JEX Fees.
Binance JEX Trading fees.
This exchange doesn’t treat takers (persons taking orders off the order book), and makers (persons placing the orders that the first group of persons take off the order book) differently. Instead, they charge something that we call a "flat fee". This means that they charge both takers and makers the same fee. The fee they charge is 0.10%.
0.10% is a quite competitive trading fee. Global industry average has historically been around 0.25%, and binance cryptocurrency exchange
JEX's fees are accordingly a fair bit lower than the historic global industry average. Today, however, we are today seeing more and more exchanges moving towards lower trading fees, and new industry averages are starting to form around 0.10%. So in comparison with the new emerging trading fee averages, Binance JEX is in line with industry average.
Binance JEX Withdrawal fees.
Binance JEX does not charge any withdrawal fees for withdrawing cryptos, except for the network fee. The network fee is not charged by the exchange per se, so the platform is not enriched by this fee. It should be noted though that there are exchanges that – as a favour to its customers – themselves assume the network fee so that the withdrawal for the customers in fact is 0.
To conclude, the withdrawal fees here are competitive.
Deposit Methods and US-investors.
Binance JEX does not accept any other deposit method than cryptos, so new investors are restricted from trading here. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange.
To find an exchange where you can deposit fiat currency, just use our Exchange Filters and we’ll help you through it.
Binance JEX does not allow US-investors on its exchange. But if you’re from the US and you’re looking for an exchange that is just right for بائننس پی 2 پی جائزہ you, don’t worry.
Use our Exchange Finder to find the right trading platform for you.