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Review on Binance by My Crypto Guide
A great starting point for the world of Crypto
If you’re new to the crypto world and want to dip your toe into its turbulent waters, then Binance will provide a great entry. A usable app, especially in lite mode, allows you to buy and swap an impressive number of the larger cryptos. The fees are generally very low, and swapping between cryptos is made easy.
Signing up is fairly painless, requiring the usual identity checks, but done fairly efficiently. Once you’re on the app you’ll find the interface simple with clear buttons for the markets, your wallet, the options and how to make trades quickly.
If you’re feeling more adventurous then the pro mode allows you access to trading pairs on the crypto market. If you are a beginner then I would recommend you avoid this until you have more experience, especially trading on margin, which can rack up losses really quickly if you don’t know what you’re doing.
A really good experience overall and much more usable than some competitors. The added bonus is that Binance’s own token, BNB, provides a great way to access the Binance Smart Chain network and all the wonderful Defi, NFT and new projects it provides. Get yourself another wallet (trustwallet or Metamask) and get involved.
I highly recommend getting a binance account And have thoroughly enjoyed using it.
It should be noted that the US version of binance is slightly different and offers a much smaller selection of cryptos to buy.
Pros
- Great entry into crypto
- Really easy to use app (especially in lite mode)
- More experienced traders can use the Pro mode
- Great selection of crypto and new ones added regularly
- Simple sign up process
Cons
- Lesser experience for USA customers
- Still a limited number of crypto compared to the wider crypto market
- Currently no ICO offerings on the app
- No opportunities to earn crypto through learning (like coin base does)
