Binance Mobile App Review – Pros and Cons
The Binance mobile trading app has several pros and cons that users should consider:
- Wide Selection of Cryptocurrencies: Binance offers one of the largest selections of cryptocurrencies, with over 500 available for trading.
- Diverse Transaction Types: The app provides access to all order types and advanced trading tools, including margin trading, trailing stop-losses, and peer-to-peer trading.
- Low Fees: Binance is known for its low fee structure, which is advantageous for frequent traders.
- Ease of Use and High Liquidity: The app is user-friendly, with fast negotiation times, and supports a high volume of trades, ensuring good liquidity.
- Complexity for Beginners: The platform can be overwhelming for new users, making it challenging to navigate, especially for those inexperienced with cryptocurrency trading.
- Limited Analysis Tools: The desktop version has more advanced charting tools.
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- $50: Futures trade of ≥ $50K withinseven7 days
- $150: Futures trade of ≥$1M withinseven7 days
- $300: Futures trade of ≥$5M sevenithin 7 days
What is Binance cashback voucher and how to use it?
Once you receive your cash and/or cashback voucher, visit your Reward Center to see your vouchers’ value, expiry date, and eligible products.
What are the Binance Android and IOS apps?
The Binance Android and IOS app is simply the Binance exchange in a mobile app format.
All the Binance Exchange desktop features are available in the app, but Binance has chosen to launch the app with two different user interfaces described in detail below.
Binance Lite Android and IOS app
Binance Lite is a feature in the Binance app that makes buying crypto even easier. Lite mode focuses on simplicity, speed, and ease of use.
For most of the crypto users, Lite mode functionality is good enough. Here, the core features are gathered that customers tend to use most frequently.
Users can quickly check prices and make purchases without the distraction of complex order books and charts.
Binance App Lite mode is better for:
- Crypto Beginners
- Users not familiar with ordering books (easy way to buy and sell crypto)
- HODLers (nontraders)
Binance Pro Android and IOS app
Binance Pro is better for active traders and advanced Binance users. Here, you will get a better trading interface and access to features like Binance Earn, trade directly with other users using Binance P2P, and access crypto derivatives trading with Binance Futures.
Binance App Pro mode is better for:
Active and Experienced crypto traders and users
Users looking for advanced products in Binance’s ecosystem (Futures, P2P, Locked staking)
How to swap between the Binance app lite mode and pro mode?
Click on your profile icon in the top left corner (Android version) to enter the profile settings section.
The first selection is a toggle function between Binance Lite and Binance Pro.
Where to download the Binance trading app?
You can download the Binance trading app from Google Play or IOS, depending on if you have an iPhone or Android phone.
However, first, you should create a Binance account.
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What OS does the Binance mobile trading app support?
You can download the Binance app for IOS and Android.
What OS does the Binance desktop trading app support?
You can download the Binance trading app for Windows, macOS, and Linux desktops.
Download Binance app here
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Binance Android App Review
Let’s review the Binance Android app and see how to navigate and trade.
Below is a screenshot from the Binance Android app home screen.
From the home screen, have a menu in the middle of the screen with ten options.
- Deposit – Here, you can deposit fiat or cryptocurrencies
- Earn – Here; you can find all Binance savings products, including Binance locked staking and Binance ETH 2.0 staking.
- Liquid Swap
- More – This will give you a complete overview of all menu options. See more below
- P2P Trading
- Credit/Debit Card
In the footer menu, you can see an additional menu with five options
Binance App FAQ
Can I trade futures with leverage on the Binance app?
You can trade futures with leverage on the Binance app, similar to the online desktop version. Binance is one of the best crypto leverage trading exchanges.
Is Binance Earn available on the Binance app?
Binance earns are available with full functionality on the Binance app.
Is Binance safe and legit?
As crypto is still a new industry, there is nothing safe compared to traditional finance.
However, the progress within the crypto industry for more safe deposits and storage does progress much faster than traditional finance.
For example, all top Bitcoin and altcoin exchanges are working hard on Merkle tree proof of reserves.
Read more about Merkle tree’s proof of funds.
Binance is also the largest crypto exchange with an excellent track record. In crypto, Binance is a relatively old exchange which is good. Kraken, Coinbase, and Bitfinex have been around longer, while there are many younger exchanges.
Binance WEeb 3 Wallet
The Binance Web3 Wallet is a built-in mobile wallet within the Binance app that allows you to store, send, and receive cryptocurrencies and connect to decentralized applications (DApps). It is a user-focused wallet that prioritizes simplicity, convenience, and security.
Key Features of the Binance Web3 Wallet:
Simplicity: The wallet is designed with a user-friendly interface, making it easy to navigate and use even for beginners.
Convenience: The wallet is integrated directly into the Binance app, making it readily accessible and streamlined to manage your crypto assets.
Security: The wallet employs advanced security measures, including multi-signature authentication, to protect your funds from unauthorized access.
DApp Support: The wallet seamlessly connects to various DApps, enabling you to explore the decentralized financial (DeFi) ecosystem and participate in innovative projects.
Cross-chain Compatibility: The wallet supports a wide range of blockchains, allowing you to manage your crypto assets across various ecosystems.
Benefits of Using the Binance Web3 Wallet:
Seamless Integration: Access your crypto assets directly within the Binance app, eliminating the need for multiple wallets.
Simplified DApp Access: Seamlessly connect to DApps without switching between wallets or platforms.
Enhanced Security: Leverage advanced security measures to safeguard your crypto assets from potential threats.
Diverse Asset Support: Manage various cryptocurrencies and tokens across various blockchains.
Convenient Management: Easily view, transfer, and store crypto assets within a single interface.
Here’s how to access the Binance Web3 Wallet:
Open the Binance app and tap on the “Wallet” tab.
Select the “Binance Web3 Wallet” option.
Set up a strong password and enable 2-factor authentication for added security.
Overall, the Binance Web3 Wallet is a versatile and user-friendly tool that simplifies your crypto experience, enabling you to manage your assets securely and seamlessly explore the decentralized world.
Binance Non-Custodial Wallet VS Binance Cefi App
Binance non-custodial wallet is an official browser extension wallet from Binance. Currently, the wallet supports BNB Beacon Chain, BSC, and Ethereum. The extension hasn’t reached mass adoption, and the rating is also low (~2.5).
There is no Andriod or IOS version of the Binance non-custodial wallet available on your smartphone.
Can I use Binance non-custodial wallet on my smartphone?
You can sign into your Binance non-custodial wallet on your smartphone via Metamask, Trust wallet, WalletDirect, or any other multichain Web3 wallet supporting the BSC.
Read more in this post from Binance about wallets supporting the Binance non-custodial wallet.
Conclusion – Binance Android App Review
In this Review Binance Android app review, we quickly summarized the app and its features. In conclusion, there is little difference between apps and the central Binance platform regarding trading functions.
However, it is limited in chart designs. Thus, it is recommended that traders use it primarily for quick market checkups and small trades.
Please read our full Binance company exchange review.