Binance is one of the best exchange platforms, which allows us to trade with all of the prominent cryptocurrencies including Bitcoin. Being one of the best and the most popular global cryptocurrency exchange platforms, Binance allows you to trade with over 100 cryptocurrencies.
This platform was founded in 2018 and boasts impressive trading volumes today. Changpeng Zhao, the CEO of Binance, founded the company in China. Later on, Binance was moved to Japan due to the ban on cryptocurrencies issued by the Chinese government. Changpeng Zhao is also the founder of the Fusion system that has been functional since 2005. Binance is part of the cryptocurrency wallet’s team, and it is a secure exchange platform.
Even though Binance is accepted as a reliable platform, you won’t find much information about how to secure your funds here. This might cause worries. With this app, you cannot proceed with the direct account closure, but you can still delete your Binance account with the right steps and guidelines. If you want to decentralize your funds you can also purchase a hardware wallet along with centralized platforms like Binance.
If you go for the right hardware wallet then you don’t have to worry about desktop malware affecting your storage system.
Advantages of Binance
Binance offers an amazing trading interface for its issues and happens to have the lowest fees on the market. It is an effective exchange platform that is swift and prioritizes security, and robustness before anything else. As already mentioned, Binance supports a range of cryptocurrencies, including bitcoin.
This platform has multiple device support, which includes Android, HTML5, WebChat, and many more platforms. The proprietary platform technology and transaction processing speed are something that makes Binance a wonderful trading platform.
Disadvantages of Binance
Among some of the disadvantages of Binance, it only offers its users options for limit and market orders. Besides, Binance is a cryptocurrency only exchange that you cannot fund with fiat currency. Also, it is a Hong Kong-based exchange, which is not much accessible to beginners and is equipped with relatively low liquidity.
Why would you delete Binance account?
If you have already gone through the Binance website, then you might be familiar with the new update of terms and conditions on the Binance website. This states that some of the users might be locked out of their accounts because of their country of birth. Therefore, if you come from a sanctioned country, then you cannot use Binance. In such a case you can only access your account and transfer your cryptocurrency to another exchange platform. In these cases, you can also transfer it to a hardware wallet. You can also contact Binance customer support to know more about why you cannot use Binance any longer.
Many times, cryptocurrency trends dip drastically low, which makes it a challenging thing to trade in digital currency. In such cases, most of us want to delete their Binance accounts. Also, it is important to mention that though Binance is regarded as one of the biggest cryptocurrency exchange platforms, it does not always fit everyone. Therefore, it is always recommended to opt for a solution that fits all your needs. To do that, you should consider deleting your Binance account.
Also, problems in withdrawal, delays, and other technical problems that might hamper your workflow might also have a negative effect on the app as well. If the user interface is challenging with Binance and you are finding it hard to look for things, it’s better to avoid such a platform. Lastly, annoying newsletters get on our nerves these days and can be a prominent reason to leave an app or software, thereby deleting our accounts as well.
How to Delete Binance Account
The way that the Binance account is set up, there are no ways to delete your account from the platform. However, there is just a hack that works on the same. This makes it entirely difficult for the users to delete their accounts, making them run from pillar to post to do so. However, most often they end getting worthless solutions where they simply waste their time without even deleting your account successfully. But don’t worry we are here with a couple of hacks that exist to delete your account from the Binance app.
Before proceeding with this always remember to withdraw your cryptocurrency because this will make you use your account on a different platform. Besides, you must also remember that after you disable your account, you cannot reverse the action. Therefore, make your decision before you delete your account by going through the steps mentioned below. If everything is set, then go through these steps below to disable your account on Binance:
- Right at first, you need to log into your account with the help of a different IP Address. You can do this with the help of a different computer/laptop and a different internet connection. This will go ahead and trigger the system, and after that, you’ll get a notification from Binance in your account.
- Next, you need to go to your email and click on the login notification. Here, you will get a link that would say ‘Disable Your Account’. You need to click on this link and that will help you close your Binance account. This is how you can delete your Binance account. After you click on the link, that action will automatically lead to freezing your account.
- Though Binance is unarguably one of the best exchange platforms worldwide, you can now also disable your account if it doesn’t suit you.