There are numerous crypto exchange platforms but here in this article, we will going to know more about Binance. So, this is the Binance review article, if you are crypto enthusiastic then don’t miss the single lines of this article.
Binance has grown to be one of the most popular cryptocurrency exchanges in the world. Open for trading since July 14th, 2017; they are now ranked as the top exchange by volume. From their beginnings as a startup with only one location in China, they have expanded to more than two dozen locations worldwide. They also offer many different coins and tokens for trade, including some of the largest ones like Bitcoin or Ethereum.
Binance is an advanced digital asset exchange that focuses on security, usability, and speed. The platform trades over 100 currencies and offers powerful charts that enable traders to visualize their trades readily. They also provide high liquidity with support for up to 2 million orders each second. Due to the increase in the popularity of the Binance platform and Binance coin (BNB), various Binance account tracking bots and companies are available. The motive of such a company is to make a profit on your investment with automated trading on Binance. Now without making a further delay, let’s move to the details Binance review;
Table of Contents
What is Binance?
Binance is a China-based cryptocurrency exchange that allows users to trade cryptocurrencies for other cryptocurrencies and fiat currencies. Founded by Changpeng Zhao in July 2017, Binance is now one of the largest crypto exchanges in the world. Binance has consistently been in the top 3 cryptocurrency exchanges by volume, with over 5 billion USD worth of transactions made on it per day. The company also offers full-featured mobile apps for iOS and Android devices. This makes it easy to trade on the go, whenever and wherever you are. Binance uses an “instantaneous” trading platform that executes trades instantly after they are completed.
Binance is an online cryptocurrency exchange that offers traders the ability to trade various cryptocurrencies with a wide range of restrictions. They have digital assets that allow traders to sell a variety of crypto coins in different markets. Users also have an option to exchange fiat money for digital currency directly through the platform.
Users who are new to the cryptocurrency market have designed an utterly user-friendly trading platform with simple tutorials that ease the process for newcomers. They have several different categories and sub-categories for the coins and tokens traded on the forum, making the crypto markets easy for beginners to navigate.
Binance Review
Crypto Exchange Platforms – Binance Review along with details are listed below:
Company: Binance
Founder: Changpeng Zhao
Founded: 2017
Joining Link: Binance
Websites: Binance.com
Joining Fee: Free
Joining Bonus: Attractive bonuses and promotional offers are available for KYC verified users.
Headquarters: Cayman Islands
Types: Crypto Wallets, trading, and Exchange platform.
Genuine: 100% Genuine
Recommended: Recommended for all who want to earn through trading, but if you are new and do not have sufficient knowledge of trading, do your research before joining any trading or exchange platform.
Benefits: People earn a reasonable amount on Binance if you are an expert or regular people with expert advice
How Does Binance Work?
Binance is relatively easy to understand. When you Binance sign up for an account, you are given a list of trading pairs. You can choose to trade Bitcoin, Ethereum, Ripple, Litecoin, and other popular altcoins like Monero and Dogecoin. To trade them on Binance, you must first link a bank account they support, such as BNP Paribas Fortis in the U.K. If you have problems trading on the platform, you can request an exception or talk to customer service in any of the supported languages.
After you are done with your account, you can use the Binance wallet to store your coins. You will need to set up your wallet before starting trading because you will be putting your coins in the Binance exchange at some point. Once you are set up with your wallet, you can get started.
Also Read: All PayPal Earning Websites/Apps List
Security and Compliance
Binance’s leadership team wants to create a platform that is secure, transparent, and fast. To ensure this, they hold all customer funds in a safe and fully transparent manner. All transactions on the platform are entirely secure, and the Binance team is fully accountable for every single move made on the platform.
They are legally registered and are compliant with all legal regulations in the countries where they operate. The exchange has excellent support from the government, local regulatory agencies, and the community in charge of monitoring the exchange. This gives the exchange significant legitimacy and credibility. They have hosted a demo account for compliance in the past, and they have achieved this with many stringent requirements in place to get the status.
Results on Trading Volume and Exchange Listings
One of the most critical metrics in the industry is the trading volume. The more trades you see, the more successful the exchange is in terms of overall volume. As a result, Binance is at the top of the leaderboard by volume and was the leader by a considerable margin for the past month. Their importance in the past month was about 16 times that of the nearest competitor, Bitcoin, on the same market.
Another important metric is the number of cryptocurrencies or tokens that a cryptocurrency exchange supports. Binance has traded more than 1,500 cryptocurrencies, with Bitcoin trading for about 67% of total transactions. The other big coins on the exchange were Ethereum at about 16%, Litecoin at about 4%, and Ripple at about 3%.
Pros of Binance
- Amazing bonus or gift on successful KYC verification
- Low exchange fee as compared to other competitors
- The massive number of the crypto selection( easily buy, hold, sell and exchange your desirable cryptocurrencies)
- Easily accessible (available in both web version and mobile version)
- Vital security feature and easy to recover because of its centralized feature.
- Have own exchange token call BNB
- Excellent customer support
- Multiple trading options like margin, P2P, stock token, spot, and more.
Cons of Binance
- Limited feature for U.S. citizens with binance.us. (Binance.com is not available in the USA, and its alternative with the little quality available in the USA called Binance.us)
- Somehow irritating for users by its two-step verification
- Difficult for new crypto beginners
Conclusion
The exchange has been running well so far, despite the growing volatility in the Bitcoin market, although they may take a hit if the Bitcoin price starts to drop. Binance has proven to be relatively stable thus far, and we feel confident that it can weather the turbulence that the market will inevitably face. We are convinced that the growing demand for cryptos will continue to bring new exchange platforms that offer more sophisticated features, lower fees, and an even more comprehensive range of coins and tokens. Hope you like this Binance review article and am excited to know your thoughts so please comment to us.
