Binance

A Casino Player's Guide to Binance

Binance is the world’s largest cryptocurrency exchange by trading volume. It enables users to easily buy and sell a huge range of cryptocurrencies, tokens, and NFTs. In this guide we'll explain how to open and fund an account, buy cryptos, and transfer them to your online casino wallet.

About Binance Crypto Exchange

Founded in 2017 by Changpeng Zhao (better known as ‘CZ’), Binance is the world’s largest cryptocurrency exchange by trading volume. Originally based in China, the company relocated when the Chinese government became hostile to cryptos. Today, Binance is based in Seychelles and the Cayman Islands. 

It enables users to buy and sell a wide variety of cryptos easily, and its user-friendly interface makes it popular with those new to the crypto space. Binance is a global exchange, but users from the United States are limited to using Binance US – a separate service based and regulated in the US and offering a significantly smaller choice of cryptos. 

Binance also offers a wide range of trading services, however in this CryptoSpinners review, we’ll focus on opening an account, completing the necessary onboarding steps, and buying and transferring cryptocurrency. 


Countries and Regions Served

Binance will accept clients from over 180 countries. As of April 2022, Binance.com supported Visa and Mastercard payments from the following countries:

AustriaHungaryPortugal
BelgiumIcelandCyprus
CroatiaIrelandRomania
BulgariaItalyRussia
CroatiaLatviaSlovakia
Czech RepublicLiechtensteinSlovenia
DenmarkLithuaniaSpain
EstoniaLuxembourgSweden
FinlandMaltaUnited Kingdom
FranceNetherlandsUkraine
GermanyNorway
GreecePoland

Residents of the United States cannot use Binance.com, but can use Binance.us (except residents of Hawaii, New York, Texas, and Vermont).


Is Binance Secure?

Binance suffered a major security breach in May 2019, during which hackers stole 7,000 bitcoin (worth approximately US$40M at the time), but reimbursed all customer funds promptly. Since then, the company has gone to great lengths to improve security continuously.

Specific security features available include 2FA (two-factor authentication), device management, and withdrawal address management. Users are also provided with a decentralised crypto wallet called Trust Wallet. This is a non-custodial wallet – meaning Binance does not have access to it, and the keys are solely in the hands of the user.
Binance maintains a Secure Asset Fund for Users (SAFU) to ensure it can cover any potential losses from hacks and security breaches. By the end of January 2022, Binance claimed this fund was worth US$1 billion.


Creating an Account with Binance

Opening an account with Binance.com is straightforward and fast. Simply follow the steps below:

  1. Go to Binance.com and select Register.
  2. Select Sign up with phone or email.
  3. Enter either your email or phone number, choose a password, and check the box to say you’ve read and agreed to Binance’s Terms of Service and Privacy Policy. Then click Create Account.
  4. You may then be asked about your intended usage of the platform. Select the relevant options and continue. 
  5. You will be asked to scan official photo identification using your computer or phone camera. Next, you will be asked to scan your face so that it can be biometrically matched to the photo ID. Follow the on-screen instructions. 
  6. You may be asked to upload certain documents, like recent bank statements, to confirm your identity. 

Assuming you have the required documents ready, the entire sign-up process takes around five to ten minutes. 


Finance offers two main account types: Personal and Entity. The default account type is Personal, enabling individuals to buy and sell cryptos and access personal trading services. Entity accounts are corporate accounts that offer extras like custody services, sub-accounts, a brokerage program, API floating, and reporting services.

Woman taking selfie with her iPhone.

How to Deposit at Binance

At Binance, you can make crypto purchases directly with Visa and Mastercards. Alternatively, you can add funds to your account and use that cash balance to make purchases. 


To deposit fiat, simply click ‘Deposit’ and then select your preferred currency and deposit method. Bank Transfers (SEPA) take 1-3 business days. Visa and Mastercard purchases and deposits at Binance are almost instant.

Supported Fiat Currencies

CurrencySEPA DepositsVisa / Mastercard Transactions
Pound Sterling (GBP)YesYes
Turkish Lira (TRY)YesYes
Euro (EUR)YesYes
Kazakhstani Tenge (KZT)YesYes
Australian Dollar (AUD)YesYes
Brazilian Real (BRL)YesYes
Peruvian Sol (PEN)YesYes
Russian Ruble (RUB)YesYes
Ukraine Hryvnia (UAH)YesYes
Uganda Shilling (UGX)YesYes
Philippine Peso (PHP)YesYes
US Dollar (USD)YesYes
UAE Dirham (AED)NoYes
Azerbaijani Manat (AZN)NoYes
Bulgarian Leva (BGN)NoYes
Canadian Dollar (CAD)NoYes
Swiss Franc (CHF)NoYes
Chilean Peso (CLP)No Yes
Colombian Peso (COP)NoYes
Czech Koruny (CZK)NoYes
Danish Kroner (DKK)NoYes
Ghanaian Cedi (GHS)NoYes
Hong Kong Dollar (HKD)NoYes
Croatian Kuna (HRK)NoYes
Hungarian Forint (HUF)NoYes
Indonesian Rupiah (IDR)NoYes
Icelandic Kronur (ISK)NoYes
Japanese Yen (JPY)NoYes
Kenya Shilling (KES)NoYes
Mexican Peso (MXN)NoYes
Nigerian Naira (NGN)NoYes
New Zealand Dollar (NZD)NoYes
Polish Zlotych (PLN)NoYes
Romanian Lei (RON)NoYes
Saudi Riyal (SAR)NoYes
Swedish Kroner (SEK)NoYes
Thai Baht (THB)NoYes
New Taiwan Dollar (TWD)NoYes
Uruguay Peso (UYU)NoYes
Vietnamese Dong (VND)NoYes
South African Rand (ZAR)NoYes
Rainbow coloured credit / debit card and laptop.

How to Buy Crypto at Binance

To buy crypto at Binance, simply select ‘Buy Crypto.’ 

Next, you will be able to select the fiat currency you would like to use (euro, US dollar etc.), and how much you want to spend. Below that, you can select the specific cryptocurrency (bitcoin BTC, for example) you would like to purchase. The current exchange rate is shown above the fiat spend field. 

On the next screen, you will be able to select Visa / Mastercard, or your cash balance to fund the transaction. Note that the transaction quote provided is time sensitive. If it expires, you will have to refresh to get a new one. 

Once the transaction is completed, the crypto funds will appear in your Binance wallet. 


Cryptos Available at Binance

Binance supports hundreds of different cryptocurrencies, including:

Bitcoin (BTC)Ethereum (ETH)Tether (USDT)USD Coin (USDC)BNB (BNB)
Binance USD (BUSD)XRP (XRP)Cardanao (ADA)Solana (SOL)Dogecoin (DOGE
Dai (DAI)Polkadot (DOT)TRON (TRX)Shiba Inu (SHIB)Avalanche (AVAX)
Polygon (MATIC)UNUS SED LEO (LEO)Wrapped Bitcoin (WBTC)Uniswap (UNI)Litecoin (LTC)
FTX Token (FTT)Cronos (CRO)Chainlink (LINK)Stellar Lumens (XLM)NEAR Protocol (NEAR)
Cosmos (ATOM)Monero (XMR)Algorand (ALGO)Ethereum Classic (ETC)Bitcoin Cash (BCH)
Internet Computer (ICP)VeChain (VET)Flow (FLOW)Dencentraland (MANA)The Sandbox (SAND)
Tezos (XTZ)ApeCoin (APE)Hedera (HBAR)TrueUSD (TUSD)Filecoin (FIL)
Elrond (EGLD)Theta Network (THETA)Axie Infinity (AXS)Aave (AAVE)Helium (HNT)
QUANT (QNT)Bitcoin SV (BSV)Pax Dollar (USDP)EOS (EOS)KuCoin Token (KCS)
Maker (MKR)Zcash (ZEC)BitTorrent (BTT)Neutrino USD (USDN)OKB (OKB)
IOTA (MIOTA)eCash (XEC)USDD (USDD)THORChain (RUNE)Huobi Token (HT)
Klaytn (KLAY)The Graph (GRT)Fantom (FTM)Chiliz (CHZ)Neo (NEO)
PAX Gold (PAXG)Basic Attention Token (BAT)Curve DAO Token (CRV)Waves (WAVES)STEPN (GMT)
Stacks (STX)Loopring (LRC)Zilliqa (ZIL)Dash (DASH)PancakeSwap (CAKE)
Enjin Coin (ENJ)Fei USD (FEI)Arweave (AR)Kusama (KSM)Convex Finance (CVX)
Mina (MINA)Celo (CELO)Amp (AMP)Kava (KAVA)TerraClassicUSD (USTC)
Compound (COMP)NEM (XEM)Nexo (NEXO)Holo (HOT)XDC Network (XDC)
Gala (GALA)1inch Network (1INCH)Decred (DCR)GateToken (GT)Synthetic (SNX)
CEEK VR (CEEK)Gnosis (GNO)Symbol (XYM)Kadena (KDA)Qtum (QTUM
Various cryptocurrencies represented as coins.

How to Transfer Crypto from Binance to an Online Casino

Transferring crypto from your Binance wallet to your online casino wallet is relatively simple. First, ensure the casino accepts the cryptocurrency you want to deposit. We’ll imagine we’re sending bitcoin (BTC) in this example. 

  1. Log-in to your online casino account and select deposit bitcoin (BTC). Find the unique crypto wallet address. Copy it to your clipboard. 
  2. Log-in to your Binance account and open your Wallet Overview. You should see your current estimated balance and asset types.
  3. Select Withdraw and Withdraw Crypto.
  4. You will now see the crypto withdrawal page. Select the coin type, and paste your crypto casino wallet address into the ‘address’ field. The network should be automatically matched to the wallet (if it is not, then you must select a compatible network. Failure to do so can result in loss of funds). Finally, enter your withdrawal amount and confirm. 
  5. Before the withdrawal request is confirmed, you may need to answer some security questions and will need to complete any activated 2FA steps (e.g. phone, email and authenticator).
  6. Your withdrawal will now be processed. Note, that if a withdrawal request is subject to review (your first may well be), it can take approximately 12 hours to process.

Once the withdrawal has cleared, the bitcoin (BTC) will arrive in your online casino wallet.


How to Transfer Crypto to Binance and Withdraw it as Cash

You can easily transfer crypto funds from your casino wallet to your Binance wallet. Simply go to the casino’s withdrawals section, and enter your Binance wallet’s address. Specify how much you would like to withdraw. Carefully double check the details before confirming.

If you want to make a fiat currency withdrawal from your Binance account to your bank account, you’ll need to convert your crypto to fiat. Just follow these steps:

  1. Select Sell Crypto, then choose how much of which crypto you want to sell and which fiat currency you would like to receive. Then select Continue and follow the prompts to complete the sale.
  2. Navigate to your Binance wallet and select Overview. Select Withdraw, then Withdraw Fiat.
  3. Choose the appropriate currency from the list. 
  4. Select either Bank Transfer (SEPA) or Bank Card (Visa), then hit Continue.
  5. Complete the required security and authentication steps.
Bitcoin coins, a fifty dollar bill, and Binance crypto exchange.

Binance Transaction Fees

  • Crypto buying/trading fees: 0.1% 
  • Crypto withdrawal/transfer fees
    • Depends on the crypto and network used. Bitcoin network fee: 0.0000056 – 0.00022 BTC
  • Fiat withdrawal fees
    • Bank Transfer (SEPA): 1 EUR
    • Bank Card (Visa): 1.8%

Binance Customer Support

Binance Support is available from the main navigation menu and includes a comprehensive Help Centre. This offers searchable FAQs and several self-service tools allowing users to reset passwords, unlock accounts, and reset security verification. 

A Live Chat facility also enables you to efficiently direct an inquiry and open a support ticket. Response time varies depending on how busy the site is and the complexity of the inquiry, but we found it to be within a few hours as a rule. 

Binance.com is available in several languages, including:

  • English
  • Indonesian
  • Spanish
  • French
  • Filipino
  • Italian
  • Polish
  • Portuguese
  • Romanian
  • Swedish
  • Slovak
  • Slovene
  • Vietnamese
  • Turkish
  • Latvian
  • Czech
  • Greek
  • Russian
  • Ukrainian
  • Bulgarian
  • Arabic
  • Urdu
  • Bengali
  • Japanese
  • Simplified Chinese
  • Traditional Chinese

Conclusion

All things considered, Binance.com is pretty hard to beat. The sheer choice of cryptos on offer is vast—everything from the biggest cryptos like bitcoin and ether to the most obscure new tokens. Though fees are very competitive, as with all crypto, specific fees are highly dependent on individual blockchain networks. 

Binance also excels when it comes to accessibility and user experience. With so many languages and fiat currencies supported, you’ll find it easy to use unless you live in the United States or a handful of other restricted territories (like Ontario, Canada). 

Happy man with thumbs up, approves.

Despite being easily accessible, Binance hasn’t cut corners regarding security. In fact, if anything, security can seem frustratingly thorough at times! For example, a simple crypto transfer can need three authentication codes. However, individual users are given a lot of flexibility to fine-tune security settings. Rounding things off, Binance provides in-depth self-service support resources and fairly responsive live chat support. 

At the end of the day, there are good reasons Binance has become the most popular cryptocurrency exchange in the world, and we can highly recommend it. 

Frequently asked questions

Yes. Binance offers cryptocurrency exchange services to people resident in the United Kingdom. 
Nope. The fixed fees for crypto purchases and fiat withdrawals are extremely low. Crypto transfers and withdrawals depend on the specific coin and blockchain network.
Yes. Since launching, Binance has earned a reputation as one of the most trustworthy and stable crypto exchanges. Even when the exchange did suffer a major hack, it quickly reimbursed all affected users. Financially, it is one of the best funded and resourced exchanges. 
As Binance founder and CEO, Changpeng Zhao, has pointed out several times, the company relies on many remote teams worldwide. Technically, the company has registered bases in the Cayman Islands and Seychelles.