1 Level
11 Review
2 Karma
Review on Binance by Evangeline Bradford
Binance exchange is very great exchange in all trading volume, security…
Binance exchange is very great exchange in all trading volume, security, number of listed coins. but recently binance goes under security breach and lose more than 7000 BTC, so trusting on biggest exchange like binance is also risky. however Binance has SAFU fund program which works as insurance for binance users. but if hack is more than SAFU fund then user may faces huge loss. and other things like binance launchpad, Binance DEX and binance academy for new users are great concept.
Pros
- Binance exchange is currently best and highest volume exchange. Binance exchange have its exchange coin BNB which can use to reduce trading fees. Binance referral system is also great which gives upto 40% referral commission. Binance curently launches many programs like binance launchpad which terms to IEO for investors to invest in new projects. Binance academy can helps new user to learn about cryptocurrency and how to trade in binance. Binance stores small amount of their total trading fees in SAFU program which can use use if exchange hacks or any significant losses. Binance also launches its Decentralized exchange where tokens which are on binance chain can be traded. Binance exchange runs binance charity where user can donate to charities in cryptocurrencies.
Cons
- Binance exchange website crashes sometime when there is very high traffic and orders of buy or sell cant be placed, or placed orders are not cancelled if click on cancel button also. Binance exchange has good security but still it hacks and more than 7000 BTC were hacked. so, we cant fully trust on binance exchange. Binance DEX needs only binance-chain tokens, its not support other tokens or coins.
