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Binance Crypto Exchange Review South Africa 2024

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The latest Binance Exchange review has raised a lot of eyebrows – and in a good way at that. This online broker has a myriad of fascinating features on offer.

Ranging from 24/7 support to facilitating close to one and half million transactions per second, it’s all on offer! You’ll be at the forefront of the leading cryptocurrency exchange that boasts extensive trading capabilities, resources, and Binance Futures. You’ll even have access to Trust Wallet – allowing you to safely store and manage your crypto assets on the Binance platform.

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Pros & Cons of Binance
  • Global online cryptocurrency exchange
  • Enticing Binance referral code
  • Unique community-driven blockchain software
  • Open-access educational resources for crypto learning
  • Mobile app has experienced issues
Payment Methods
Bank Transfer
ASIC - Australian Securities and Investments Commission
Accepts Customers from
Players from South Africa not accepted
Binance Deutschland GmbH & Co. KG
Available Languages
Customer Support
Email Support
Overall Rating
Rating follows
  • Usability, Look & Feel
  • Payment Methods
  • Customer Service
No review posted yet.
User Rating
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1 Star

Watch our in-depth review of Binance!

Alexander Foster
Alexander Foster
Last Updated on 29/06/2024

Security, Usability, Look & Feel - Our Binance review

Our first impression of the Binance official platform was pretty good. The layout of the site is easy to come to grips with and allows users to navigate with relative freedom. Using the main headings at the top, it’s easy to jump from one section to the next. In terms of our Binance South Africa review, we found the platform to be really responsive and highly-functional. There was no sign of any glitches or technical issues. Plus, the platform seems rather secure. Based on the measures put in place to protect the storage of crypto and personal data, it is safe to assume in our Binance crypto review that this site has what it takes to offer a streamlined and secure trading experience.

Our Binance review found that the website has a lot of innovative features and interactive maps and graphs. There are a variety of educational resources which is another positive sign. All in all, our Binance crypto review is happy to highlight the fact that this platform caters to all types of traders and is pretty seamless from an operational standpoint.

How to Trade With Binance Markets

When it comes to trading, our Binance crypto review will take you through a step-by-step guide of how to sign up and start trading. We’ll focus on trading Bitcoin in our Binance South Africa review, but fundamental points can be applied to all types of trading on Binance.

  1. You’ll need to create an account by visiting the official Binance website and click on “Register”.
  2. From here, you can create a free account rather quickly. Fill in your personal details such as your name, email address, and password.
  3. Enter the one-time pin sent to your email address or mobile number.
  4. Once you have a free account, you’ll need to verify your account before you can start trading. Verify your personal details, address, and withdrawal limits.
  5. You are now ready to start trading crypto on the Binance exchange.

You can buy crypto, Bitcoin is usually the preferred crypto, by using your bank card, bank deposit, P2P trading, or by utilising a third-party payment. Otherwise, you can head over to the OTC portal where it is possible to trade different cryptos within seconds.

If you wish to spot trade, you’ll need to visit your account and click on a crypto that you wish to buy or sell. You’ll find the order book section pop up. You’ll also find the market list for all supported trading pairs. From here, you can use the tools on hand to buy and sell different cryptos as well as limit your Binance price to buy and sell at a specific price. For more on how to trade crypto, Binance offers great tutorial videos and in-depth educational resources. You’ll be trading in no time!

Payments - Binance Deposit & Binance Withdrawal

Our payments section of our Binance review looks into the Binance minimum deposit limit, the Binance withdrawal limit, and the Binance withdrawal fee. Here, you’ll find out exactly which payment method is best suited to your trading needs.

When it comes to making deposits, you can fund your account by transferring a range of crypto to the Binance crypto exchange platform. Furthermore, there’s great news for South African customers, as it is possible to make deposits in ZAR! There’s no need to exchange into a foreign currency prior to funding your account. In order to make a deposit, it’s possible to use a payment method such as bank transfer, your bank card (credit, debit), or cash. All deposits on the Binance crypto exchange are free of charge. Withdrawals made in ZAR are also free. You do have the option of making deposits in all major currencies as well as dozens and dozens of different cryptos.

It is important to keep in mind that, if you withdraw a cryptocurrency, you will most likely incur a withdrawal fee. These fees change drastically and it’s best to consult the official website in addition to our Binance review for more information.

Customer Service - What About Binance Scams?

A good online operator, from any sphere, is committed to providing excellent customer service. The better the support system that is in place, the easier it is for customers to resolve issues and rectify any technical issues – or otherwise – that may occur.

It is possible to get in touch with a representative of the Binance crypto exchange via their responsive live chat function. As is the case in our Coinbase review, you’ll find that the function is located at the bottom-right of your screen. A text box will pop up where you can type a message or click on a list of FAQs that may answer your question immediately. The live chat function allows you to add attachments if needed.

You can also submit a request by choosing the reason for issuing a ticket. However, this method is far less practical as it takes a long time to receive a response. We suggest using the FAQ section or live chat function first.

License & Security - Is Binance Safe?

Our Binance exchange review took a look at the licensing and security of the platform. Here, each Binance South Africa customer should take note of the strength of the security protocols that are in place. It’s imperative to make use of an online broker or online trading exchange that has the necessary licenses and security which ensures safe and transparent practices and subsequent trading.

First off, our Binance review South Africa did not find a valid trading license for the Binance crypto exchange. This means that there is no real regulatory oversight when it comes to the Binance crypto exchange. However, as Binance looks to the future, they are set on retaining loyal traders. That’s why the platform has strong security and privacy policies in place to protect the end customer.

In terms of security on the Binance cryptocurrency platform, there is strong emphasis given to employing the latest SSL technology which encrypts all data and securely monitors financial funds. You’ll find that all your trades and funds are well looked after.

Reputation and Customer Feedback – Opinions on Binance

When it comes to customer feedback, we found that there are mixed Binance reviews. This is common as not all customers may experience the same level of attentiveness as others. Plus, it has been noted that the Binance cryptocurrency platform has a large backlog of requests from their wide customer base. This has also led to certain complaints.

With a strong reputation, our Binance crypto review has found many enduring qualities within the Binance crypto exchange. You’ll have access to a multitude of cryptocurrency options as a Binance South Africa customer. Due to the mixed feedback, we advise you to try the site out for yourself. Before you deposit funds, test the overall functionality and customer support. If you are happy, then you’ll have the opportunity to jump into a diverse platform with Binance how to trade tutorials and a collection of resources that will surely increase your trading acumen.

Cryptocurrencies - What’s available at the Binance crypto exchange?

A number of online brokers will provide trading opportunities in trading cryptocurrency CFDs (speculating on price movements as opposed to buying or selling the primary asset outright). This isn’t the case with Binance crypto. In our latest Binance crypto review, we’ve highlighted the fact that this platform allows you to engage in peer-to-peer exchanges of cryptocurrency. Spot trading is popular and allows you to trade in a variety of currencies all the while cutting out a third-party entity. OTC trading in crypto continues to enjoy lots of activity and our Binance South Africa review found that this platform is great for this.

When it comes to the actual cryptos on hand, you’ll find that there are a fair share of coins as well as unlisted pairs. Binance provides crypto to crypto exchanges on almost all the coins on the platform. Our Binance review found that there is a deep liquidity pool, especially for altcoin markets.

For a complete breakdown of the available cryptos, our Binance review recommends you visit the official platform and scroll through the myriad of coins on offer. It’s an exciting prospect to think you’ll have access to so many different crypto options when using Binance.

Fees - Binance Trading Costs

How do the fees compare to our latest Kraken review? Our team of experts tested the waters and found that the Binance crypto exchange has a complex fee structure as there are so many different cryptos available. However, the actual fees, regardless of what you are trading with, are pretty low.

There is a basic trading fee that you will incur for spot trades and the nominal amount depends on your status (VIP level) and how much you actually trade. In a 30 day period, if you trade anything between 0 BTC and 50 BTC, you’ll find yourself as being part of the lowest VIP level. Maker/Taker fees are set at 0.1% and 0.1% respectively. With a flat fee for both parties, you’ll find this to be well below industry averages.

Jurisdictions and Limits To Binance Trading

As is the case with all cryptocurrency exchanges, there are certain limitations surrounding each platform. From a geographical perspective, Binance has quite a far reach. For South Africans, there are no issues accessing the full Binance platform and subsequent trading services.

Binance is known for offering a wide number of crypto trading options with over 70 coins available to be bought and sold. Plus, with such a high number of crypto trading pairs, there are few limitations in light of this.

The biggest limit that has raised its ugly head in our Binance South Africa review is the fact that Binance does not possess a comprehensive trading license. As such, they are not regulated to the extent that other online platforms are. Beyond this, Binance seems to be expanding on a monthly basis and has incorporated an entire network of communities and initiatives within the Binance online sphere.

Other Trading - Alternative options at Binance

In our latest Binance South Africa review, we checked the official platform for any other trading products. However, as far as our Binance crypto review goes, you will only be able to trade cryptocurrencies. There are no stocks and such available. Digital currencies are the order of the day and this follows logically as Binance is a crypto exchange.

At, we bring you a number of featured brokers that will indulge all your trading interests. If you wish to dabble in cryptocurrency trading and stay in the loop with stock market opportunities, visit our site for a complete overview.

Overall Conclusion - Low fees and ZAR deposits

Binance has found itself clouded in a mixture of good and bad reviews from a host of customers. However, our latest Binance South Africa review found that the platform has a lot to offer those looking to trade in crypto. From low fees, especially for those who wish to pick up existing orders from the order book, to a highly-impressive trading platform, we believe that Binance is a good place to start trading.

Keep in mind that you can also deposit funds in ZAR, which is a big bonus and improves our Binance South Africa review ratings. With spot trading, margin, and futures available, the crypto market continues to grow and Binance has managed to capture this.

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