Reviews of Binance’s pros and cons on Trustpilot

ReviewsApril 8, 2022

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Trustpilot is an online review platform. Users worldwide can write a review about a company’s experience or service. Therefore, the reviews on Trustpilot before opening a Binance account are exciting to learn. The following article summarizes a review of the pros and cons of Binance on Trustpilot English.

Table of Contents

  1. Overview of Binance on Trustpilot English
  2. Positive review about Binance on Trustpilot
  3. Summary of negative reviews about Binance
  4. Conclusion

Overview of Binance on Trustpilot English

Trustpilot provides a detailed overview of all user reviews about Binance. When we look at user reviews on Trustpilot, we can see where they are coming from, how their star ratings, the number of reviews, and precisely compliments or criticizes about the Binance exchange.

Binance has 3,221 reviews from Trustpilot users globally at writing, reaching 2 out of 5 stars. Up to 67% rated 1 star, and only about 30% rated three stars or more. What does this mean for Binance? The following article details the issues commented on by users about Binance on Trustpilot.

Overview of Binance on Trustpilot. How positive and negative are customers' ratings of Binance on Trustpilot.

Does a high 1-star rating indicate that Binance is a scam or not reputable? We will explore why Binance is undervalued to answer this question in the following sections.

Overview of Binance on Trustpilot. How positive and negative are customers' ratings of Binance on Trustpilot.

Looking at the feedback rate about Binance on Trustpilot over the past 12 months, Users can see that the wrong response rate has decreased significantly. It proves that Binance is also making efforts to improve the quality of its services.

Positive review about Binance on Trustpilot

Most positive reviews have noted that Binance provides a good trading platform with super-fast transaction and withdrawal speeds. There are many reviewers of Binance offering an excellent trading experience. Another comment: It’s a bit complicated for those unfamiliar with crypto at first, but you will get used to it.

Overview of Binance on Trustpilot. How positive and negative are customers' ratings of Binance on Trustpilot.

Robert: Best Exchange Ever has a reasonably detailed review (February 18, 2022).

“I use Binance for many years now and hold stablecoins on Savings, and staking and trading via API. No problem happened! I completed the account verification without any complaints! Deposit and withdrawal are no problem. I deposit and withdraw using the P2P option, and it works fine, and there are no additional fees. I trade, sell, and buy stable coins without any complaints. Of course, other exchanges offer higher interest rates on stablecoins, but Binance is still the best provider. The number of products is unique. And if you’re not sure, you can spread your risk a bit.?

Some other similar positive reviews like:

Summary of negative reviews about Binance

Out of more than 70% of Binance reviews of 2 stars or less on Trustpilot, most customers complained about Binance customer service. Most of the negative reviews claim that Binance auto responds and has the exact repeated requests, making it take a long time to process their issue.

Some of the other responses came from countries that restrict Binance, so they can’t open accounts and trade or have difficulty with account verification or deposit/withdrawal on Binance.

Some customers complained that Binance blocked transactions after uploading their account verification documents. Or another said that the User could not complete Binance account verification.

Conclusion

Although there is a very high rate of 1 or 2-star reviews, it is mainly from UK and US customers. Binance primarily focused on issues raised on customer support, deposit/withdrawal, or account verification. The majority of negative reviews of Binance on Trustpilot come from some UK and the US areas. In contrast, to other countries, Binance is rated for stable operation, fast transaction speed, and standard customer service.

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