How to Close Binance Account

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Binance is one of the fastest growing exchanges in the cryptocurrency market. And if this keeps up, it will be one of the biggest crypto exchanges based on trading volume. Additionally, many newly coins/tokens that just had an ICO would have a higher tendency to be listed on Binance compared to other big exchanges. Regardless, you may still wish to close your Binance account. And,
there are several legitimate reasons to do it.

Binance is a blockchain ecosystem comprised of Exchange, Labs, Launchpad, and Info. Founded by a team of fintech and crypto experts, it is capable of processing more than 1.4 million orders per second, making it one of the fastest exchanges in the world. The platform focuses on security, robustness, and execution speed, attracting enthusiasts and professional traders alike.

This cryptocurrency exchange was created by a former key member of OKCoin. While the company mostly focuses on the Chinese market, everybody is welcome. That said, they do not accept fiat money deposits, which means that you can’t withdraw any fiat money. The amount of coins available for trading is relatively high and still growing. But, there are other exchanges that offer more exotic ones. The major issue we have with Binance is that it hasn’t been around long enough to pass the test of time.

Here, we will look at how you can close your Binance account, in the event that you find it is in your best interest.

Table of Contents

Binance Advantages and Disadvantages

Advantages

Basic and Advanced exchange views
Support for close to 100 cryptocurrencies
Multi-language support
Offers the Binance in-house BNB token for reduced trading fees
High liquidity
Capable of processing 1.4 million transactions per second
Backed by an established team with a proven track record in crypto and finance
Low fees on transactions and withdrawals
Bounty and reward programs for the community

Disadvantages

Some users have reported difficulty with the Android version of the mobile app.
Some users have reported delays when withdrawing certain coins from Binance.
Unclear how recent regulatory actions by the Chinese government may impact the exchange, which is based in China.
Since it’s a new platform, it’s hard to assess its long-term viability.
Currently only Chinese phone numbers are supported for SMS two-factor authentication.
Binance does collect and store some user data, such as logging IP addresses.

Why to close Binance account?

Not interested in cryptocurrency anymore

One of the major reasons to delete Binance account, is the trend of cryptocurrency has moved drastically low over the past few months. So investment in digital currency is not safe anymore. Which is why some people are deleting their accounts.

Not satisfied with the exchange platform

Another reason is that users are facing withdraw problems so they are removing their account from the website and looking for other options, other exchanges. Or you may consider that user interface being a bit complicated and not friendly to use.

Annoyed by newsletters

This does not sound like a real reason, to tell the truth. If you are deleting your account just because of their newsletters or mail, you can either mark the mail as spam (by clicking on spam button given at top of your mail button) or unsubscribe the mail (by clicking unsubscribe link given at the bottom of the mail).

Or you can have a bunch of other reasons and just want to quickly and easily delete your account and forget about Binance exchange.