Review on Binance by Billy Martin

Name: Binance
Item: Binance
Rating: 4

June 27, 2019

Binance exchange - Exchange the World

Binance is probably the best cryptocurrency exchange out there. It offers a large selection of tokens and UI interface is both reactive and easy to use. I have never had any issues with deposits and withdrawals. They are fast and fees are relatively reasonable. Support is also top notch compared to competitor platforms.
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Binance actually understands the mindset and ethos of the crypto-community and the mantra of decentralization, it's no wonder that they have the highest trading volume in the world while being a relatively new exchange. Instead of applying the rules of the old paradigm to centralized cryptocurrency exchanges, they actively take steps to be the best in their field by building a DEX instead of fighting against the same core principles that underpin the technological value of cryptocurrencies. Their efforts to develop risk management and anti-fraud procedures underpin the attention to detail they spend in getting the small details right by focusing on R&D.
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Binance is progressing very fastly and announcing new platforms like binance  launchpad for fundraising and Binance DEX for decentralized and anonymous traders and also, Margin trading function for professional traders.
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Pros

Large number of trade pairs are available in Binance exchange.
Low trading fees using BNB coin (50% discount in the first year, 25% in second)
Very nice mobile app. Binance Mobile app is well designed as per professional traders
Easy account setup with no verification for LV1, limiting transfers to 2 BTC in 24hr period
Good volume across many trading pairs, offering possibility for day trading on the more popular coins

Cons

Trading options are basic, just basic market, limit and stop-loss.
Web site will lag or stop responding on high volume trading spikes
No fiat trading pair or transfer, must use Tether (USDT) which is a little suspect in regard to it's liquidity
Trading and withdrawal minimums and fees for some alts make it expensive to move them from wallet to exchange and back.