Binance Review – Is Binance Scam or Legit Cryptocurrency Exchange?

Binance Review – Is Binance Scam or Legit Cryptocurrency Exchange?

Binance Review

Binance LogoBinance is a well-known cryptocurrency exchange that caters to more experienced investors in cryptocurrencies. It has relatively low trading costs and an extensive range of cryptocurrencies available for trading across the globe. By CoinMarketCap.com, it ranks among the top ten cryptocurrency exchanges in the world. If you want to know about the appealing features of this cryptocurrency exchange, then keep reading this Binance review.

Binance Overview

It was established by Changpeng Zhao (a software developer) in 2017, as a decentralized cryptocurrency exchange, with its headquarters initially located in China. Binance is among the largest cryptocurrency exchanges worldwide in terms of trading volume. Binance is a cryptocurrency exchange that offers multiple cryptocurrencies to users all around the world.

Binance Website

Binance’s desktop and mobile trading dashboards provide access to various trading options, including an incredible variety of market graphs and hundreds of different cryptocurrencies to trade. Traders can choose from multiple trading choices, including futures contracts and options.

The Binance exchange, in complement to tools and capabilities, also provides an extensive learning management system and an NFT platform.

Binance Offers A Variety Of Cryptocurrencies

On its exchange platform, Binance offers more than 365 different cryptocurrencies for purchase and sale. It also accepts many fiat money, including the US dollar, the euro, the pound, the hong kong dollar, and the Indian rupee. Binance may offer anything between 50 and 591 cryptocurrency pairs, depending on your region.

Binance currently supports the following cryptocurrencies: VeThor Token (VTHO), Binance Coin (BNB), Harmony (ONE), Matic Network (MATIC), VeChain (VET), and Dogecoin (DOGE). Furthermore, Binance supports many significant coins, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dash (DASH), Compound (COMP), Cardano (ADA), Cosmos (ATOM).

Binance Supported Cryptocurrencies

Binance Charge Low Fees

Binance’s charges are among the most competitive in the cryptocurrency business. Binance has a maker/taker fee system; costs vary depending on the trade volume and Binance Coin (BNB) amount in your account. Trading volumes more remarkable than a certain threshold are generally subject to lower costs.

Users can additionally benefit from charge reductions for the following services

  • Bonuses for referrals
  • By trading a particular number of assets, you can achieve the rank of a vital person (VIP).
  • Using Binance coins (BNB) in trading transactions.

Security Protocols At Binance

The Binance has made sure that all the money and information is safe and secured from cybercriminals, and for that, it has implemented multi-tier security measures. One of Binance’s security features is two-factor authentication (2FA), which can be accomplished through the Google Authenticator application or short messaging service (SMS).

Other security features include address validation, device management, and the option to restrict access to specific devices. On top of that, the Binance.US platform offers FDIC insurance on balances in United States dollars maintained in custodial financial institution accounts.

Trading Platform

Binance provides a wide range of trading features and tools, including authentic charting tools with trend lines and exponential moving averages, as well as automated trading. Users can execute transactions using the Binance app, the Binance website, or the Binance desktop application. Customers can also access their accounts and transaction histories using the Binance platform, including the ability to examine the price charts and order book.

Additionally, Binance offers a variety of order types, including stop orders, limit orders, stop-limit orders, stop market orders, and trailing stop orders. Stop orders are the most used type of transaction. You can also select from various trading perspectives, like classic, margin, and OTC views.

Customer Support Services

When it comes to customer assistance, Binance has three basic options:

  • Creating a support ticket: Interested parties can submit an application on the Binance webpage to lodge a ticket (complain) and receive email help.
  • Asking basic inquiries via chat: The Binance website also has a chatbox in the bottom right-hand corner of the screen, which may be reached by clicking on the chatbox.
  • Contacting out via social media: Binance’s Twitter handle is “@BinanceHelpDesk,” dedicated to customer service, and the business encourages customers to tweet their concerns to it.

 Conclusion

Binance has a diverse range of intuitive assets, helpful charts, and low costs, which helps to explain why it is ranked among the top cryptocurrency exchanges in the Coinmarketcap index.