Cryptocurrency trading has become a mainstream financial activity, and Binance stands at the forefront as the world’s largest digital asset exchange. Known for its high liquidity, wide range of supported coins, low fees, and fast transaction speeds, Binance is a top choice for traders around the globe — including many in Taiwan.
This comprehensive Binance tutorial walks you through everything you need to know: whether Binance is safe, how to register step by step, deposit and withdraw funds efficiently, and more. Whether you're a beginner or looking to optimize your trading strategy, this guide covers all essential aspects — all in under 5 minutes of reading.
👉 Discover how to start trading securely on one of the world’s most trusted platforms.
What Is Binance?
Binance, derived from the words binary and finance, launched in 2017 and rapidly grew into the world’s leading cryptocurrency exchange within just seven months. Today, it supports over 200 cryptocurrencies and processes up to 1.4 million orders per second, making it one of the most powerful trading engines in the industry.
The platform offers a full suite of services including spot trading, futures, staking, savings, NFTs, and its own blockchain — the BNB Chain. Its native token, BNB (Binance Coin), plays a central role across the ecosystem, offering fee discounts and powering transactions on the Binance Smart Chain.
With users in nearly every country (though availability varies due to regulatory conditions), Binance continues to lead in innovation and user experience.
Is Binance Safe? Understanding Security Measures
When it comes to digital assets, security is paramount — and Binance takes this seriously.
SAFU Fund: A $1 Billion Safety Net
In 2018, Binance established the Secure Asset Fund for Users (SAFU) — a dedicated insurance fund designed to protect user assets in the rare event of a security breach. Initially funded by allocating 10% of all trading fees, SAFU now holds over $1 billion in reserves, ensuring that users’ funds remain protected even under extreme circumstances.
CZ (Changpeng Zhao), Binance’s founder, emphasized transparency:
“We publish the SAFU wallet address publicly so anyone can verify its balance. This level of openness builds trust not only with users but also with regulators.”
Advanced Security Protocols
Binance employs multiple layers of protection:
- Two-factor authentication (2FA) via Google Authenticator or SMS
- AI-powered monitoring systems that detect suspicious logins
- Cold storage for over 95% of user funds
- Regular third-party audits and penetration testing
These measures collectively make Binance one of the most secure centralized exchanges available today.
What Do Users Say?
Here's what real users from PTT (a popular Taiwanese forum) have said about Binance:
- “For large trades, Binance is still the best — local exchanges just don’t have enough depth.”
- “If you don’t trust Binance, you probably shouldn’t be in crypto at all.”
- “Fast trades, great interface, and tons of options — feels like a stock market but open 24/7.”
- “Love the flexible earning options like staking and flexible savings — I get up to 10% APY on some assets.”
Such feedback highlights both reliability and functionality.
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Pros and Cons of Using Binance
✅ Advantages
- High Security Standards: Multi-layered architecture and SAFU fund
- High-Speed Trading Engine: Up to 1.4 million orders processed per second
- Global Market Leader: Highest trading volume worldwide
- Multi-Platform Access: Web, iOS, Android apps
- Supports 200+ Cryptocurrencies: Including BTC, ETH, LTC, and BNB
- Low Transaction Fees: Only 0.1% trading fee, reduced further with BNB
- Fast Deposits & Withdrawals
- Credit Card Purchases Available
- Diverse Financial Products: Staking, lending, savings, futures
❌ Limitations
- No Direct TWD Withdrawal: Cannot directly cash out to New Taiwan Dollar bank accounts
- Customer Support Only Online: No physical branches or phone support in some regions
While these limitations exist, most users find workarounds manageable — especially when leveraging peer-to-peer (P2P) trading or third-party local exchanges.
Binance Fees Explained
The standard trading fee on Binance is 0.1% for both makers and takers.
However, you can significantly reduce this cost:
Use BNB to Pay Fees
By holding BNB, Binance’s native token, you automatically receive a 50% discount on trading fees when using it to pay. This feature is enabled by default.
Additionally, users who sign up through referral programs can enjoy up to 20% commission rebates on their trading fees — which can be combined with the BNB discount.
🔢 Example: With a 20% rebate + 50% BNB discount, your effective savings reach up to 60% off total fees (not additive; calculated multiplicatively).
BNB has a fixed supply of 200 million tokens and operates across multiple blockchains, including BNB Chain and Ethereum (as an ERC-20 token).
Step-by-Step Guide: How to Register on Binance
Follow these five simple steps to create your account:
Step 1: Sign Up
Go to the official Binance website and click "Register". Enter your email address and create a strong password (at least 8 characters with one uppercase letter and one number).
📝 Note: There is no fee to register an account.
Step 2: Enable Two-Factor Authentication (2FA)
For enhanced security:
- Download Google Authenticator.
- Scan the QR code provided by Binance.
- Enter the generated code to verify.
- Confirm via email.
This ensures that even if someone gets your password, they can’t access your account without the time-based code.
Complete KYC Verification (Required for Full Access)
To lift deposit and withdrawal limits, complete Know Your Customer (KYC) verification:
- Log in → Go to User Center → Click Identity Verification
- Select your country (e.g., Taiwan)
- Choose ID type: National ID or Passport
- Upload clear photos (avoid glare on ID cards)
- Complete facial recognition by following on-screen prompts (e.g., blink, smile)
Verification typically takes less than 2 hours. Once approved, you’ll see a green checkmark confirming success.
How to Deposit Funds on Binance
There are three primary methods:
1. Credit/Debit Card Purchase
Ideal for beginners wanting instant access:
- Buy crypto instantly with Visa/Mastercard
- Supported currencies include USD, EUR, TWD (via third-party processors)
2. Bank Transfer
Available in select regions; may take longer but often has lower fees.
3. P2P (Peer-to-Peer) Trading
Buy directly from other users using local payment methods like bank transfers. Available in TWD — perfect for Taiwanese users.
💡 Tip: P2P allows price negotiation and avoids currency conversion fees.
How to Withdraw from Binance
Since Binance doesn’t support direct TWD withdrawals, here’s a proven method:
Option: Transfer to MAX Exchange (Popular in Taiwan)
- On Binance: Go to Wallet → Withdraw
- Select cryptocurrency (e.g., BTC or USDT)
- Copy your deposit address from MAX Exchange (ensure matching network — TRC20 is cheaper than ERC20)
- Paste into Binance’s withdrawal field
- Confirm transaction
Once received on MAX:
- Sell crypto for TWD
- Withdraw TWD to your linked Taiwanese bank account
This two-step process is fast, reliable, and widely used across Taiwan.
Frequently Asked Questions (FAQ)
Q1: Is Binance legal in Taiwan?
Yes, Taiwanese residents can use Binance for trading and holding cryptocurrencies. However, direct fiat deposits/withdrawals in TWD aren't supported — users typically rely on P2P or third-party exchanges like MAX.
Q2: Can I use my Taiwan ID for KYC?
Absolutely. Binance accepts both national ID cards and passports for identity verification. Just ensure photos are clear and free of glare.
Q3: How long do withdrawals take?
Most crypto withdrawals arrive within 10–30 minutes depending on network congestion. Using faster networks like TRC20 reduces time and fees.
Q4: Does Binance offer customer service in Chinese?
Yes! Binance provides full Mandarin support via live chat and help center articles tailored for Chinese-speaking users.
Q5: What is the minimum deposit amount?
Minimums vary by asset (e.g., ~$10 equivalent). Check the specific coin’s page for exact requirements.
Q6: Can I earn passive income on Binance?
Yes! Through features like:
- Flexible Savings (earn interest daily)
- Locked Staking
- Dual Investment Products
Some yields exceed 10% APY, especially for stablecoins or new listings.
Final Thoughts: Why Millions Choose Binance
From robust security protocols like SAFU and cold storage to an intuitive interface and vast product offerings, Binance remains a top choice for global crypto investors. While regulatory constraints limit direct TWD integration in Taiwan, users continue to adopt efficient workflows involving P2P or local exchanges.
Whether you're interested in fast trading, long-term investing, or earning yield on idle assets, Binance delivers a comprehensive solution.
👉 Start your journey with powerful trading tools trusted by professionals worldwide.