Review on Binance by Abraham Jeremiah
Offering the best service to the world
As a crypto trader with a taste for low trade fee charges, binance tends to soot my wants. This exchange has charges a low 0.1% for every trade made on its Spot exchange and 0.02% for the Futures contract. The use of its Binance coin cuts the trade for spot exchange by 25% and it's future contract is slashes by 10%. These are good rates that are beneficial for a regular trader. Moving on, as this exchange is ranked number one for it's trading volume, there is also a good number of coins listed with good liquidity. Despite not making kyc compulsory it still has a good security that has never let users funds stolen. The simplistic user interface on both web and Mobile App are better than many other exchange.
Flowing through the exchange history, it started operating in 2017 with the exchange base in Hong Kong. With a vision to serve the whole world, and due to regulations imposed by the Chinese government, Binance set it's IP on an offshore location which makes the exchange not liable to answer to any regulatory body. With over 15 languages on this exchange and support for many fiat deposit, it's vision for supporting many countries is short within site. Everyone needs to try this exchange
Pros
- An early bird in the crypto exchange but ranks the highest in every way. This is seen in its daily trading volume, level of exchange security and support for 15 different languages
- Low trading fees 0.1% which can be slashed by 0.025% when using the exchange native coin, The binance coin
- There is a simplistic user interface on both web and Mobile App
- Binance is available to countries all over the world and it also support local currency deposit
Cons
- Nothing negative
New products
Comments (2)
January 25, 2021
There is some negatives in Binance. There has once been a hack in the exchange user data. The transaction fee which BNB can be used to discount keeps reducing year after year. The exchange needs to be advised TBH
January 07, 2021
Binance exchange is one of the best exchanges I have come across. Talking about the 0.1% trading fee they charge to both makers and takers, their exclusively decorated interface and their BNB token which had its market value catapulted
