Binance cryptocurrency exchange platform commenced business in China before moving their headquarters to the crypto-friendly Island of Malta in Europe. And since early 2018, it has become the biggest blockchain and crypto asset exchange in the world as measured by trading volume.
Unlike other exchanges, Binance offers a big portfolio of cryptocurrencies for you to buy and sell, making the platform easy to find the coins you want.
Although Binance coin exchange is the best trading platform available for digital currencies, you cannot trade traditional currencies on it. This means you cannot transfer USD, Euros or Sterling Pound to your Binance Account. You can only transfer cryptocurrency into your Binance exchange account.
Trading on Binance
Here are some to the things you need to do to start trading on Binance.
1). Buy bitcoin outside of Binance.
2). Transfer your Bitcoin to Binance.
3). Buy the other crypto coins you want on Binance using your bitcoin.
Binance also offers debit and credit card payments you can use to buy cryptocurrencies including LTC, ETH, and XRP.
There’re two trading platforms on Binance: Basic and Advanced. The Basic view allows the user to perform simple trades. The advanced view is for more advanced traders and it offers more detailed technical analysis.
To trade on the platform, you can use all known operating systems including the mobile web, Android, iOS, Mac and Windows. Furthermore, the underlying platform runs in over 30 other exchanges, proof to its reliability.
Pros and Cons of Binance
· Great Reputation – Positive Binance reviews are common as it’s not only easy to use but also secure!
· Good for newbies and pros – The interface is easy for beginners to use and advanced enough for pros to crush it.
· Access to hundreds of cryptocurrencies – Many exchanges offer less than 20 coins. Binance offers hundreds.
· Low charges – There’re no charges for new coin deposits’ onto the platform and only 0.1% on the value of trades.
· Fast – Binance can process 1.4 million transactions per second.
· Multilingual support – Support is available in many languages
· Great reward and affiliate programs – Use your account to invite friends and family and earn a small commission for yourself.
· Difficult to use with Android apps
· Delays with certain coins
· Binance collects and stores some user data including logging IP addresses.
The pros of using Binance far outweigh the cons. As a result, this is one the best if not the best crypto exchanges in the market. Although it’s safe to use, always follow the golden rules of safe crypto trading.
Earn Crypto Cashback Coins
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