Exchange Reviewed: Binance, the fastest growing cryptocurrency exchange
Binance.com is the fastest growing exchange for trading cryptocurrencies based in China. In a very short duration, it has reached the 10th position among the top volume cryptocurrency exchanges. This exchange is available in several languages, has a much-arranged user interface, and it allows processing the orders at an exceptionally high speed. Those who visit Binance for the first time will notice that the platform offers two options for digital currency trading- basic and advanced. The key difference among the basic and the advanced version is that the advanced version delivers more-in-depth technical analysis of digital currency value with time. At this time, the dashboard for the basic version offers numerous graphs and charts.
Binance exchange offers a huge amount of compatibility, offering versions for Web, iOS, Android, HTML5, WeChat and PC client. It is just a crypto exchange and does not propose any fiat/cryptocurrency pairings. It means members cannot buy Bitcoin or any other crypto coin with dollars or Euros directly. The core team even released a statement clarifying they do not propose to include fiat trades support in the near future
A Cryptocurrency Exchange for Everyone
Binance can only transact and deposit cryptocurrencies. The most common currencies are Bitcoin, Bitcoin cash, and Ethereum, however, the platform is also valuable for other exchanges such as NEO, QTUM, and other currencies – new ones take approval to trade on the site on a regular basis. Therefore, if you want to deposit funds into Binance, you will need to send the coins you have bought or mined and stored in a cryptocurrency wallet. If you have no cryptocurrency funds, you can buy on an exchange such as Coinbase and then deposit on Binance.
Binance is popular for its wide variety of support coins. Traders can use Binance for several digital currencies, which includes Bitcoin, Bitcoin Cash, Ethereum, NEO, GAS, Dash, Ripple, Zcash and more.
As this platform is recent, it does not have any history, but so far, the indicators have been positive in terms of security and value it gives to the consumers. Binance coin has a thrilling distribution standard, which includes:
- ICO hurdles 50% of the coins
- Developers get the 40% of the token
- 10% goes to Angel investors (those who purchase large amounts of coin at once)
You can also use Binance coin to pay fees and it includes transaction fees trading fees, listing fees, and others. When you use Binance to pay these fees, it offers a big discount as related to when you pay them in BTC.
Currently, this exchange is capable of handling approximately 1.4 million orders every second, therefore it one of the fastest exchanges on the market. Furthermore, the exchange works on all kinds of devices, including web, Android, WeChat, and HTML5. Based on everything, Binance is indeed the leading Cryptocurrency Exchange and offers great fees and remarkable digital currency support.