Review on Binance by Sergio Daniel Delgado
Binance and its authentication levels
Binance came from the words "Binary" and "finances." One of the negative things that people find in this exchange is that it is operated by a Chinese company in Tokyo. Before they were operating completely in China but due to the problems with cryptocurrencies the company decided to transfer its operations to the friendliest country in the world at this yolk.
Binance is capable of processing 1,400,000 orders per second. Awesome number if you take into account the number of people who visit your website daily.
There are three levels of verification in Binance and they are for withdrawal limits. The first level has a 24-hour withdrawal limit of 2BTC, The second level allows a withdrawal of up to 100BTC and the last level would be 3 and this has a limit greater than 100BTC (the exact amount is not disclosed). To increase the level from 1 to 2, it is necessary to enable SMS security authentication / Google Authentication. Which is great if you ask me Since this is a significant increase in the limit of an account. Once it has been activated it is necessary to present additional verification documents so that the amount is increased up to level 2. The level 3 account needs to go through a manual verification process that requires the user to contact the developers and request their approval
Pros
- Very low rates
- Long list of coins to exchange
- There are no delays on your website
Cons
- Does not accept bank payment methods
- Customer service lacks phone
- The website is not for beginners
