Can I use Binance in Canada?
Yes, the Binance (https://binance.com) portal can be used in Canada except Ontario. Users residing in this region cannot access the web since June 26 of this year 2021. With this measure, the platform complies with the rules imposed by the Ontario regulator, which has positioned itself as one of the most restrictive laws in the world regarding trade and trading with cryptocurrencies. It is important to know that portal users with residence in this province have a maximum until the last day of this year to eliminate their open positions in any of the securities offered by the platform.
The rest of provinces can access Binance Canada with total freedom, they can register and trade with the cryptocurrencies offered by the portal. Among Canadian investors, the highest percentages of purchase / sale operations on these digital securities are gathered by the main references such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and others among those that entail a greater capitalization of market.
Registration and access to the platform are considered “high security”. For this, it is necessary that in the registry we verify our identity with a moving selfie included and of course, we have to upload the requested identity documents. Thanks to this, our subsequent investments will be kept in maximum safety. To access the portal after registration it is necessary that we verify the IP of our mobile, tablet or laptop. For this, 6 digits are sent to our telephone number. This step needs to be done every 24 hours.
- Link to test the platform
Is Binance banned in Canada?
Not at all. As we have explained in the previous answer, Binance has decided on its own to halt its activity in the province of Ontario. The aim of stopping the activity for users residing in this region is aimed at strict compliance with the regulations or laws of this province. As they are more restrictive in terms of trading with cryptocurrencies, they have led the exchange to stop its activity.
For all other users residing in the rest of the Canadian provinces, the portal offers all the options to buy, sell, store and get cryptocurrencies with all the functionalities offered. Among the functions most used by users and investors in our country we have the classic purchase and sale of digital assets. Among them, it is the Bitcoin (BTC) that achieves the greatest volume of operations, breaking daily records each time it fluctuates upward.
These cryptocurrency purchase and sale operations are also being joined by other functions of the portal among the most used by Canadian investors. Among them is trading with short, medium and long-term operations, or futures negotiations.
What opinions do we find about the exchange?
The opinions we find on the internet about Binance are mostly favorable, especially among investors specialized in the blockchain sector. These comments cover crucial issues and aspects of the exchange. The first of them is, without a doubt, that of security. Canadian investors and users attach special importance to this aspect and mostly come to the conclusion that to invest in cryptocurrencies, choosing this platform is a good option to stay away from any fraud or scam.
The second of the most talked about topics about the exchange is the ease of use. In relation to this, a large percentage of Internet users consider that the operation of the portal is relatively simple in its basic functions such as buying and selling cryptocurrencies. They also comment that the use of other sections such as trading or futures is a little more complex in the first days.
Other references and opinions found on the platform are related to the options to enter and withdraw money or how the faucets of new cryptocurrencies work.
These comments and publications can be found in forums specialized in investments or crypto. We can also find very interesting complementary information in the Reddit groups that comment on investment strategies on Bitcoin (BTC) and the rest of crypto assets.
What cryptocurrencies can we find on the wallet?
At Binance we can find more than 300 cryptocurrencies available to trade with. Of course, in this list we will find all the main digital assets on the market such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE) and so on until the list of cryptocurrencies with the highest market capitalization.
Most investors who trade in the medium and long term choose to do so with the main cryptocurrencies. Among them, bitcoins are the ones that agglutinate a greater volume of operations.
But in addition to these most relevant cryptocurrencies, we can also find a huge list with assets of greater or lesser capitalization such as Polkadot, Cardano, Tether, Bitcoin Cash, Solana, Terra and so on until reaching more than 300 references. This list is modified over the months. Of the same, values with little movement disappear and other promising new launches appear.
As for investors seeking the highest possible returns in the short term, there is a strong trend to operate with lower capitalization securities and strong intraday fluctuations. These operations carry a greater risk due to the exposure of the value but among the users who manage to get their operations right, they earn excellent income in very short time frames.
What is required to login?
To login to Binance it is necessary to enter only the username and password, as long as this access is made from mobile devices or regular computers. To maximize security, the exchange memorizes the computers and Wi-Fi networks from which we access regularly, if we change any of them, it will automatically send a numeric code to your phone number to verify your identity. These measures are aimed at ensuring that our accounts and investments always remain in maximum security.
In addition to the aforementioned measures, the portal will ask you to insert the numerical code sent your phone number even if you enter from usual devices once every 24 hours. Although, the portal understands the discomfort that this can cause to its users, it understands that future security and trust are above any inconvenience generated.
It is these security measures with regard to the login on the web and many others, which have managed to generate great confidence in the sector. Today, it has managed to contribute more than 200 million registered users to the platform throughout the world.
How to withdraw money?
To withdraw money from Binance from Canada we have several options. First of all we have the possibility of withdrawing the money via VISA credit card. If we choose this option, they will deduct 1% of the total capital withdrawn from the commission. Regarding the time it will take to have the money on our card, it will be almost immediate, although it depends on other interbank communication factors.
The second of the options offered is that of bank transfers. This is often the preferred medium among Canadian users for its convenience and safety. The only negative aspect of choosing the transfer as a withdrawal method is the time it takes until the money reaches our account. It is usually between one day and 3 days. This delay depends in particular on interbank transactions, since the exchange transfers the money instantly.
As the last means to withdraw money from the portal we have ADVCash. This platform specialized in online payments does not carry any type of commission and the money transaction is carried out instantly. Due to this, many users are gradually choosing this method to make their withdrawals. From there you can transfer it to bank accounts, yes, with their corresponding commissions that vary depending on the total capital mobilized.
It is important to point out that before making withdrawals you must have capital in our Fiat account with local currency. If not, we have to convert the capital of digital assets that are in our Spot wallet to local currency. When converting it, it automatically goes to our Fiat wallet, which is where we can make money withdrawals.
Complementary information on social networks
The main social networks on the internet are a perfect source to find information regarding. In them we can find related news and experiences of other users about trading with cryptocurrencies, withdrawals and any other aspect related to the exchange.
In these publications we can also visualize in video or infographic format some of the most common strategies or trends in investing with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) or any other cryptocurrency.
Some of these social networks are:
- Twitter # binance Canada
- Youtube # binance Canada
- Pinterest # binance Canada
- Reddit # binance Canada
Our team rates Binance (https://binance.com) with a remarkable high and rates it as one of the best options for investing in cryptocurrencies. It is important to know, as we have previously commented, that users residing in the province of Ontario cannot access the platform for new registrations or trade with the web. Canadian investors from the rest of the provinces can register and trade cryptocurrencies with complete freedom.
This exchange is a perfect option to enter the blockchain investment sector because it is one of the great references in the market. In it, the capital and the data provided are always found for the greatest security available on the internet with verified records for the protection of its followers.
When you investigate this review, you realize that all the specialists in the sector comment on the high levels of security, functionalities and benefits offered by the platform. For something, it has more than 200 million registered, without a doubt, major words.