Main Takeaways

  • In April 2024, our Binance teams processed 396 product and feature ideas shared by our user community via the Feature Request & Feedback Board.

  • As the market gains momentum, suggestions for asset management tools and enhancements in security features are growing increasingly prominent.

  • We also just launched #BinanceBuild Spotlight, a weekly series showcasing how we turn your feedback into a final product

This is a general announcement. Products and services mentioned here may not be available in your region.

Step into the April edition of our 2024 #BinanceBuild recap — Your window into the recent enhancements across the Binance ecosystem. #BinanceBuild showcases our holistic journey of progress. While expansive feature updates form its cornerstone, the subtle refinements inspired by your invaluable suggestions from our Feature Request & Feedback Board, equally define our growth.

In this edition, we recount and spotlight  a couple of key themes that emerged directly from your user proposals in April — Remember, your voice matters!

Protecting Your Assets and Avoiding High-Stake Mistakes

The absence of robust security measures often proves to be a costly mistake made by participants in the crypto market. From mislaid devices to complex social engineering schemes or compromised confidential information, it is vital for all users to remain updated on the most recent security measures and protocols linked to their exchange accounts.

As the markets heat up, so does the temptation for rogue players to exploit the crypto space and your assets. To stay ahead, we’ve strategically implemented a series of enhancements to our two-factor authentication & passkeys procedures last month. 

Two-Factor Authentication & Passkeys 

We're excited to roll out two significant improvements to our 2FA reset procedures. The first is a comprehensive redesign and revamp aimed at reducing user errors. This improvement facilitates a higher success rate for resets through a more intuitive and streamlined interface. Secondly, we've introduced a new feature that allows users to independently reset their passkeys, a feature previously unavailable without seeking help from a Binance Customer Service Representative.

It's significant to note that the 48-hour withdrawal suspension via  withdrawals, P2P selling, payment services, and Binance Card applications, remains consistent with the revamped flow – a safeguard to preserve the integrity of your account amid such security changes.

Instant Feedback for Reset Failures

In the past, when a reset request was denied by our internal risk operation team, the user was only presented with a case ID number, devoid of any explanation or reasoning. To understand the reason for the denial, the user had to reach out to a Customer Service Representative with their case ID. However, we've improved our approach to enhance transparency and timeliness. Now, in the event of a denial, users will be immediately provided with the reason directly on the failed request screen itself. This empowers the user to take more informed next steps, not only increasing the likelihood of approval in their subsequent application but also eliminates the need for an extended customer service interaction, streamlining the overall experience.

Prioritizing Crypto Documentation and Taxation

Amid the excitement of the market upcycles, maintaining accurate records of your trading and investment activities remains of high importance to file your taxes appropriately.

Inspired by your user feedback and the wider trend, the product team ushered in an upgraded interface for users seeking to gather and export their account information to aid with reporting. 

Binance Financial Reports

From your Binance desktop or web application, you'll now notice a new 'Financial Reports' option within the 'Account' dropdown menu. Specially crafted to aid users with their internal tax filing needs, this function generates reports that comply with local regulations, providing swift convenience and ready reference. Currently, we cater to tax regulatory requirements for Spain, Bahrain, UAE, and Italy. Stay tuned as we're on our way to extend this support to El Salvador, Australia, New Zealand, Kazakhstan, and many more very soon. Check it out - 

Please note that the Financial Reports tool is subject to this Disclaimer.

Exporting your Transaction History 

For a long time, we've received feedback regarding users' inability to export transaction records for full, or even multiple, years. Although our existing custom time filter addressed this concern, we've further enhanced the user experience. Now, we've added a series of quick filters to simplify and streamline the process for users.

The Finishing Touch: Withdrawals

Once you've successfully put together the necessary records for your personal and regulatory obligations, you might find yourself needing to initiate some withdrawals. Rest assured, as we've improved the exchange withdrawal procedure in April by introducing a revamped page featuring clear visual workflows for your guidance. Have a look - 

Other Notable Features Released in April

  • Reopen the app with Web3 Wallet: Previously, each time users closed and reopened the app, they found themselves redirected to the exchange page by default. However, with the recent update, if you were last in the Web3 Wallet prior to exiting, you will be navigated back to the wallet upon your next app launch.

  • New functionality from your Wallet Overview page: We've integrated the 'Withdraw' and 'Transfer' functions directly into your Wallet Overview. This streamlines the workflow, effectively reducing the steps and workflow involved - a more fluent and user-friendly navigation experience.

Building Together: A Look Ahead

As we draw the curtains on this edition of #BinanceBuild, it's clear that the improvements presented aren't just nominal updates but rather an exhibit of our commitment to elevating your experience in a secure and compliant manner. Every update signifies a stride forward as we navigate the ever-evolving terrain of the crypto. Remember that it's your invaluable feedback that fuels our innovation, and together, we are shaping the future of Binance together.

Further Reading

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.