Review on Binance by Othere Obtentus
One of the biggest trading platforms based on volume
Binance is potentially the most important crypto exchange in the world today.
Binance has been able to provide a smooth service since its debut and continues on this road these times as it remodels the whole platform and eventually encourages more people to try the updated design. Binance's key strengths are its large amount of assets accessible to trade and its incentives for trading, while the first is retained by the ever-changing regulatory position of the exchange, which enables it to keep near to total autonomy in deciding which assets to include. It also has its native coin, BNB, and trading contests, and incentives that make use of recently listed commodities, the BNB coin and others.
Another noteworthy aspect of Binance is its newly released Binance Chain, a Smart Contracts-based blockchain network that accepted the BNB's as its native currency. Binance has begun to actively advertise the network and to provide huge incentives to ventures as a prospect to move their operations from other platforms to Binance Network, and Ethereum is one of the networks from which most ventures are being divulged.
Pros
- Very low fees
- Trading incentives
- Ability to buy and sell crypto with fiat
- Wide range of cryptocurrencies
- High liquidity
- Its own blockchain supporting smart contracts
Cons
- Experienced security breaches in the past
- No privacy-preserving measures
- Trading limits for non KYC
