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Review on Binance by Billy Martin

Revainrating 4 out of 5

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.

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