Review on Binance by Japheth Ayuba
The best Crypto exchange
The Binance exchange has been labeled the biggest Crypto exchange in the world today due to its high volume recorded day in day out. The exchange stands out in the Liquidity found on the exchange and it's savings account of which there is the flexible and locked savings account. The security features of this exchange has been a great one but was once breached and users information leaked and has since then revamped it's security structures. KYC isn't made compulsory on this exchange but without KYC, users cannot trade Fiat currency on this exchange. This exchange supports a wide range of fiat currencies from the Australian dollar to the Nigerian Naira, it has supports for almost all nations of the Earth. The native coin of this exchange is the Binance coin BNB which can be used by traders to cut trade fees charged by the exchange. On the trade fees, the Binance exchange charges a flat 0.1% trade fees which is below the current market average of 0.25% and so debuted to be a good mark. The exchange has a simple UI and a great app. It's support team are at the beck of call to any query and as the exchange is always active, the support team are also active 24/7 The exchange is like the most recommendable exchange to any traders because it has more advantages to its side as compared to other exchanges around before and after it.
Pros
- This is like the biggest Crypto exchange in the world having the highest 24 hour trading volume recorded day in day out
- Fiat deposit and trade is available on this exchange
- Over 80% of the coins and tokens listed on this exchange has a good matching Liquidity provided
- The use of its native coin BNB reduces trade fees
- Low withdrawal fees charged
Cons
- Has experienced a security breach once but no asset was lost
