Binance Coin Review – Safety First!
Binance is a highly competitive cryptocurrency broker with low fees and a reliable security system. Initially, BNB had its price based on Bitcoin and Ethereum. At the time of writing, 1 BNB equals about 19,600 INR, and the cryptocurrency hit an all-time high of 48,251 INR in November 2021.
Binance invests top-dollar in security, using advanced cybersecurity technologies to protect your funds. Firstly, it keeps most of its client’s funds and assets in cold wallets. Also, Binance clients count on real-time monitoring, TSS (Threshold Signature Scheme), and advanced sign-in protocols, ensuring no one can access an account without client knowledge and consent.
More and more Indian online casinos are operating with BNBs for deposits and withdrawals. It provides anonymous and completely safe transactions. Transactions are mostly instant, and all operations are protected by end-to-end encryption, which means no third party can intercept them. Also, the company increased its cybersecurity staff by 500% in 2022.
Binance follows KYC and GDPR protocols to the letter, partially by using high-standard encryption on your assets and personal information. It means the company meets industry standards of financial crime prevention.
All casino sites listed on our platform are also safe and reliable. We only promote casinos that are aptly licensed, have solid security systems, and comply with KYC/GDPR protocols.
Stay Safe! Learn more about Gambling Licences.
| Did you know? |
|---|
| This company has a massive security team of highly specialised professionals led by Tigran Gambaryan, a former IRS-CI Special Agent. Binance’s financial crimes compliance team participated in or organised more than 70 cybercrimes workshops and responded to nearly 50,000 law enforcement requests in 2022 alone. |
How To Use Binance Coins At Online Casinos
You can use your BNBs at an increasing number of Indian online casinos. If you see its icon along with other payment methods, all you have to do is create an account and deposit. It works like any other cryptocurrency payments (Bitcoin, Monero, and other currencies). Plus, the online casino’s banking section will guide you through the process.
Learn more about Payment Options that Indian players use.
Are There Any Fees When Depositing And Withdrawing At The Binance Coin Casino?
Fees can vary significantly across gambling sites, but most online casinos won’t charge you any fee for BNB transactions. However, Binance itself can incur a charge of between 0.5% and 3.75% transaction fees.
How To Place A Deposit And Withdraw Your Winnings Using Binance Coin
If you’re already used to making and receiving online payments in BNB, you’ll find that depositing and withdrawing at an online casino in India is the same. If you’re not, don’t worry: there’s a step-by-step guide below.
- Go to the payment section
- Set BNB as your preferred currency
- Choose the amount
- For deposits: the platform will create a unique wallet. You can make a deposit by copying the wallet address and transferring your funds to it; you can also use a QR code
- For withdrawals: provide your personal wallet address and enter the desired amount
Like gaming with crypto? Check the top Crypto Games that are popular at the moment.
| Did you know? |
|---|
| Nowadays, you can find Indian online casinos that operate exclusively with cryptocurrencies. In some cases, you can also buy BNBs, along with other cryptos, via the casino site. |
Solutions To Common Issues When Using Binance Coin At Online Casinos
BNB’s popularity is rising among online gamblers and online casinos as well. Here are some issues you may face while using it.
- I can’t find BNB on the list of payment methods on the casino site I’m on. What can I do?
Not every online casino operating with cryptos will support BNB. If you can’t find this option in the cashier section, your casino doesn’t accept this payment method.
- My deposit wasn’t accepted. What could have happened?
Check the step-by-step guide above and see if you’ve missed a step. If not, make sure you’re using the right wallet to fund your bankroll and have enough funds. If the problem persists, contact your casino’s client services for additional information.
| Did you know? |
|---|
| Binance also offers 24/7 live chat for customers around the world. So, if you have issues using your BNBs, you can also contact Binance directly through its website. |
Pros and Cons Of Using Binance Coin At Online Casinos
You should know the good and bad points before you start gambling with your BNBs. Here’s the best and worst about it.
| Pros | Cons |
|---|---|
| High-standard security | Binance lacks the regulation of other high-profile crypto |
| Fast and anonymous transactions | Not many online casinos accept it, compared to other cryptos (BTC, ETH, LTC, etc.) |
| Cryptocurrency for beginners (Binance Academy) |
Learn more about Crypto Casinos.
Binance Coin vs. Other Payment Methods
BNBs still have a long way to go in market numbers compared with more popular cryptocurrencies. Still, it offers some key advantages that more traditional payment methods don’t. Check the table below.
| Features | Binance Coin | Visa | RuPay | UPI |
|---|---|---|---|---|
| Instant withdrawals | ✔ | ✖ | ✖ | ✔ |
| Encrypted operations | ✔ | ✔ | ✔ | ✔ |
| No registration | ✖ | ✖ | ✖ | ✖ |
| Did you know? |
|---|
| You can also make payments in BNB using Binance Card, a Mastercard debit card offered by the company. It’s accepted by more than 90 million Mastercard merchants worldwide. |
A Worthwhile Crypto for Indian Players
BNB isn’t as popular as Bitcoin, but it’s undoubtedly crypto on the rise, and we’re likely to see many more Indian online casinos working with it in the future. This crypto is issued by the largest cryptocurrency exchange company in the world, which says much about its solidity and reliability.
Binance also makes the crypto world more accessible for beginners through its “Binance Academy”, which contains very useful information and news about this market.