Consult will be listed on Binance soon

Binance Payout 2022

Anyone who deals with cryptocurrencies will come across the Binance crypto exchange relatively quickly. This is an exchange that has been available on the market since 2017 and offers trading in around 200 cryptocurrencies. Binance may therefore not only be number 1 in terms of trading volume, but also in terms of the digital currencies available. Although Binance is still relatively new to the market, the exchange has still been able to soar to the top of the market. There is not only a wide range of cryptocurrencies here, but also the Binance Coin in addition to Bitcoin and Ether, the exchange’s own cryptocurrency, but also various instruments to be able to react even better to various market developments. And there is also a dedicated Binance app to access the service on the go.

However, there are special features for deposits and withdrawals. If you want to make a Binance withdrawal, for example, you have to note that there are no fiat currencies to choose from – deposits and withdrawals are only possible with cryptocurrencies. However, this may not be a problem for the Binance tax return – if you are unsure, you can still contact your tax advisor so that you do not make any mistakes when it comes to taxing profits. However, it should be noted that the Binance tax return can be done without much effort if the cryptocurrencies have been held for more than a year – in this case the profit does not matter for the Binance tax return since it is so tax-free.

Binance: A Chinese crypto exchange on the fast track

In order to be able to answer the question of whether Binance is serious, it may be advisable to take a look behind the scenes. It should be noted that it is of course also advisable to deal with the many experience and test reports that deal with the fact that the crypto exchange is serious.

Binance was founded in Shanghai and makes its services available worldwide. Even if Binance was only founded in 2017, the crypto exchange was able to develop into the market leader within a very short time and is today – in terms of trading volume – the largest crypto exchange in the world. Even if the website is only available in Chinese, English, Russian, Japanese, Korean, Spanish and French, Binance was also able to assert itself in German-speaking countries. This is mainly because it is a self-explanatory platform that can also be used with little knowledge of English.

It should be noted that the in-house platform is available via browser. Even if there is a separate software variant for Windows devices, the browser version may be used here primarily, since Binance can be accessed from any device. This means that you can then place orders from anywhere or request a Binance payout. Among other things, also on the go via smartphone and/or tablet. Binance offers its own app, although for the sake of completeness it must be said that the website is also mobile-optimized.

There is no doubt that Binance is reputable and our Binance experiences show that . The company scores on various levels and is also convincing when you take a look behind the scenes.

95/100

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To Binance

Binance Highlights

  • High security standards
  • Easy to use trading platform
  • Very good customer support

Save fees and make profits with the Binance Coin

In order to be able to make a Binance payout, the Binance Coin can be selected, among other things. This is the in-house coin of the Binance crypto exchange. This was issued in the course of the foundation, when an initial coin offering – ICO for short – took place. At that time, 200 million coins of the cryptocurrency were issued – each quarter Binance now buys back around 20 percent of the coins in circulation and destroys them. This process should last until there are only 100 million coins left on the market – this should stabilize the price or even drive it up.

The advantage of working with Binance Coin? You can directly save fees. Because many fees that appear via Binance are significantly cheaper if they are paid with the Binance Coin. Furthermore, the Binance Coin can also be used for Binance payouts.

You can also use the Binance Coin to then speculate with the price development. Anyone who invested in the Binance Coin about a year ago had to pay around 30 US dollars for a coin – today the price of the cryptocurrency is around 550 US dollars. The all-time high, set on May 10, 2021, was $686. According to market capitalization, the Binance Coin is in 3rd place – only Bitcoin (1st place) and Ether (2nd place) are ahead of the cryptocurrency of the Binance platform.

Registration: Binance scores with a self-explanatory process

If you want to use the Binance offer, you have to register in advance. For those who have never had anything to do with cryptocurrencies or cryptocurrency exchanges before, don’t worry – the entire process is self-explanatory and can be completed in just a few minutes. After the first deposit, although it should be noted that you cannot use fiat currency here, only digital currencies, all services are then available.

The in-house platform provided by Binance is particularly advantageous. The platform is clearly designed and subsequently helps with investing and trading. Incidentally, you do not have to download your own software here, although there is the possibility, if you want to work on a Windows device, to use a software version that then has to be installed on the respective device. With the Binance app , there is also the option of accessing the offer while on the move. The app is available for the operating systems iOS, Windows and Android. The download is free; it is important that there is an active internet connection during the download. Installing the app takes less than five minutes.

The trading platform appeals to experienced traders and beginners

Ultimately, two trading variants are available. There is a platform for beginners and a platform for experienced traders who want to work with more instruments or delve deeper into the subject. Due to the fact that there is a basic variant or an advanced variant, Binance also addresses the individual wishes and ideas of the users.

It should be noted at this point that there is no demo account. This means that if you register with Binance, you jump in at the deep end and have to “risk” your savings immediately. To be fair, the platform is self-explanatory; whether a demo account would actually be needed to get to know the platform safely can remain an open question.

The in-house platform is convincing. The fact that you can also save fees with Binance Coin is particularly advantageous. If you pay the fees with the in-house cryptocurrency, you can even save money here.

At this point it should be noted that the fees are extremely low. If you use Binance, you don’t have to be afraid of high costs or excessive fees. Furthermore, the Binance fee model is transparent, so there is no need to be afraid of hidden costs or nasty surprises. Another indication that Binance is reputable.

Binance also always advertises with the “Coin of the Month”. Anyone who uses the cryptocurrency of the month saves 100 percent of the fees. This means that there is then the possibility that the “Coin of the Month” can be traded free of charge.

The Binance payout

Anyone who looks at the provider’s payment portfolio will notice that there is no variety on offer here. The Binance payout is only possible in cryptocurrencies – that means if you want a Binance payout in euros, you will be put off here. This service is not offered. Whether Binance payments in euros will be possible in the near future cannot be said at the current time. There is currently no information here.

Due to the fact that deposits and withdrawals are only possible with cryptocurrencies, you have to exchange your fiat currency for a digital currency in advance. One possibility may be the exchange for the Binance Coin in order to then also save fees. Because there may well be a fee for the Binance payout, so that the profit is reduced. The Binance payout in Bitcoin causes a fee of 0.0005 Bitcoin – for Litecoin the fee is 0.001. A Binance payout in ether incurs a fee of 0.01 ether.

The fact that you cannot have a payout in euros at Binance may be a disadvantage – but in the end the advantages that Binance brings with it outweigh the disadvantages. Above all, the fact that the relevant information for the Binance tax return can be read from the profile. Because Binance payouts or profits, even if they are made in cryptocurrencies, are then important for the Binance tax return. A special extra is the Binance credit card , which Binance customers can secure.

95/100

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To Binance

Binance Highlights

  • High security standards
  • Easy to use trading platform
  • Very good customer support

Investing and trading: What options does Binance provide?

If you have registered with Binance and logged in, you can now make a deposit with the cryptocurrency of your personal choice in order to then start trading. Bitcoin mining is also possible. Now the dashboard comes into focus – because you can then use the dashboard to search for cryptocurrencies or create trading pairs and deal with the charts.

On the top right of the dashboard you will find an overview of which cryptocurrencies are available, but you can not only select from the list, you can also search for the desired digital currency using the search function. Around 200 cryptocurrencies are available – including the classics such as Bitcoin and Ether, but also many Altcoins such as Ripple, Cardano or Solano, as well as stablecoins (Tether) or the in-house cryptocurrency Binance Coin. It is important that you then select the counterpart to the preferred currency so that a trading pair is formed.

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A chart will now appear in the middle of the screen, showing how the market is developing. With a look at the current price development, it becomes clear relatively quickly whether you are correct in your assessment and profit will be made, or whether you misjudged the market. Incidentally, the developments are displayed in candlesticks, with the default being hourly candlesticks. This means that the developments of the last few hours are displayed. The red candle stands for a fall in price, the green candle stands for a rise in price. However, the interval can also be lengthened or shortened – so you can have the monthly, weekly, daily and minute interval displayed. At the end of the chart there is also the MACD indicator, which will particularly inspire fans of technical analysis, as you can sometimes find out

The order book is on the left. All buy and sell orders placed are listed in the order book. Buy orders are highlighted in green, sell orders in red. Among other things, the order book can also be seen as an indicator and you can then find out for yourself how big the spread is, i.e. the difference between the lowest selling price and the highest buying price.

Profit Maximization and Risk Reduction: What Opportunities Are Provided at Binance?

If you plan a Binance payout, then only if a corresponding profit has been made, which could sometimes be important for the Binance tax return if a holding period of more than one year has not been observed. But in order to make a profit, it is important to “guess” what the market is doing; one should also, since the crypto market is very volatile, work with risk-reducing instruments or ensure that the risk decreases and the chances of profit increase. But how is that possible?

Market orders, limit orders and stop limit orders are offered. Market orders are mainly recommended for beginners, since this is where you choose how many coins of a certain cryptocurrency are to be bought or sold in advance. The entry can be made manually; by clicking on the sell or buy button, the process is complete and execution takes place at the best possible market price. With limit orders, it is selected how many coins should then be bought from the cryptocurrency, whereby the point here is that the price defined in advance must be reached. This means that the order will only be executed if the price that was set in advance has been reached. At the end there are stop limit orders. In this case, the execution of the order comes when

This means that Binance offers various options for trading via the platform so that you can apply for a Binance payout in the profit zone and don’t have to worry about losses. It should be noted that losses are always possible – the crypto market is so volatile that you should only ever invest freely available money.

If problems occur: contact form and FAQ area

If you want to make a Binance payout in euros, but notice that this process does not work, you can either contact the staff or take a look at the FAQ area first. The advantage of the FAQ section? This is extensive and deals with various questions such as problems. In the FAQ area you will also find out that Binance payouts are not possible in euros, but only in cryptocurrencies.

Nowadays there are many different ways to get in touch with the employees of various portals. The live chat may be particularly popular, as you get an answer to your question relatively quickly or a solution to your problem is presented. Binance still has some catching up to do or room for improvement here. This is because there is only contact via the contact form here. This means that a telephone service or live chat is not (yet) available.

If you contact the employees via the contact form, you have to expect a waiting time of several hours; Complex requests are sometimes only answered after one working day.

Even if the Binance customer service can be expanded or is at a disadvantage compared to the competition, in the end this may not be a real reason against Binance. This is because there is an extensive FAQ area and inquiries via the contact form are usually answered after a few hours.

Binance

95/100

Binance FuturesT&Cs apply, 18+

To Binance

Binance Highlights

  • High security standards
  • Easy to use trading platform
  • Very good customer support

No Binance payout in euros: the conclusion

The fact that there is no Binance payout in euros may be a downer. In the end, however, it is not an actual argument that speaks against the crypto exchange. This is because Binance is reputable and scores with a wide range of digital currencies, has also created a user-friendly platform and convinces with a customer-friendly app. Furthermore, you can also save fees via Binance with the Binance Coin or you are presented with the “Coin of the Month” once a month, which can be traded for free.

Binance is a very convincing crypto exchange and proves that it is quite justified that not only the largest trading volume can be found here, but also that more and more people are taking advantage of the offer – Binance is therefore clearly number 1 and will probably, if the offer in the way is continued, also the number 1 can remain.