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Review on Binance by Jack Miller
At this time, the digital currency exchange market is filled with a wide…
At this time, the digital currency exchange market is filled with a wide variety of choices, therefore choosing the right exchange or trading platform can be quite a headache for both novice and veteran cryptocurrency users.
Binance is a popular cryptocurrency exchange which was started in China but recently moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. While the company is still fairly new on the market ( it launched last year ), it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, professional attitude and friendly CEO and also due to its low trading fees.
Currently, the matching engine of the exchange is capable of processing approximately 1.4 million orders each second, hence making it one of the fastest exchanges available on the market. Additionally, the exchange works on all forms of devices, including web, Android, WeChat, and HTML5. Non-English speakers will be happy to know that Binance offers multiple-language support in Chinese, English, Korean and Japanese.
Based on everything that has been outlined so far, Binance is undoubtedly the leading Cryptocurrency Exchange and offers great fees and awesome digital currency support. As it reportedly has access to abundant resources and partners, chances are that Binance will continue to evolve and offer great digital currency exchange services to its clients. We are happy to recommend Binance and have added it to our list of the Best Cryptocurrency Exchanges.
As always, take safety precautions such as using a unique password for signing up, switch on 2-factor authentication and try not to hold a large balance on the exchange itself for too long – remember to withdraw your currencies to your own private wallet.
Pros
- Easy to Use Basic and Advanced exchange views Support for close to 100 cryptocurrencies Multi-language support Offers the Binance in-house BNB token for reduced trading fees High liquidity Capable of processing 1.4 million transactions per second Backed by an established team with a proven track record in crypto and finance Low fees on transactions and withdrawals Bounty and reward programs for the community
Cons
- No Fiat Payment Options Only provides options for limit and market orders As a strictly cryptocurrency only exchange, you cannot fund your account with normal currency Hong- Kong Based Relatively Low Liquidity (after China Regulation Efforts) Not very accessible to beginners Some users have reported difficulty with the Android version of the mobile app. No live chat No phone support Possible Android mobile app bugs
