Binance is a global crypto exchange offering services in over 180+ countries. The exchange is renowned for offering access to crypto-to-crypto trading. Besides this, the exchange offers additional features like low minimum deposit, easy usability, various coins to trade with, and an intuitive mobile trading platform.
Moreover, the exchange has a separate platform for US citizens: Binane. The US. However, the platform is not available in Hawaii or in New Mexico.
The Binance.US provides easy buying or selling options as well as more advanced trading platforms. It has low fees and offers further discounts for using Binance Coin. Besides providing educational information, it also offers an online blog, specifically for beginners. So, let’s know about this crypto exchange more with our detailed Binance Review.
Binance is a global cryptocurrency exchange that is the largest exchange for trading cryptocurrency. It was founded in 2017 and is registered in the Cayman Islands. Binance was established by Changpeng Zhao, an engineer who has already developed trading applications for high-frequency traders.
The platform is renowned for offering competitive and low trading fees. It aims to offer the best crypto trading services to users. Furthermore, the platform has its own crypto token: Binance Coin, which is traded with the BNB symbol.
The platform currently allows traders to trade in 60+ cryptocurrencies and many crypto trade pairs. Additionally, the exchange strives to provide industry-best security to its users through its advanced web-based platforms. The platform offer services in all major countries, including the UK, Germany, and Spain.
On the other hand, Binance offers some additional features that set it apart from other standard crypto exchange platforms. The features such as quick execution, OTC trading, P2P Merchant application, and Binance pay are the positive points of this trading platform. Overall, Binance is a good trading platform that offers the best security, range of assets, and accessibility.
Check out the Comparison between Binance and Coinswitch.
Pros and Cons:
Take a look at the pros and cons of using the Binance crypto exchange.
- 25% discount on trading fees for using BNB
- Rich educational content
- 60+ cryptocurrencies available
- Low Transaction fees
- A wide range of payment methods is available
- 24/7 customer support
- Wide platform selection could be confusing for beginners
Is Binance A Scam or Legit?
Binance is a legit crypto exchange platform that has been operating efficiently since 2017. In addition, the exchange is facilitated with a security accreditation award which further adds to its legitimacy. Here are a few reasons supporting its’s legitimacy:
- Regulated by UK’s Financial Conduct Authority (FCA).
- Holds license to conduct exchanges across the world.
- Abides by AML policy
- Holds an ISO 27001 certification
Considering these points, it is clear that the crypto exchange platform is not a scam.
Binance remains secure for users’ personal and financial data, and its ability to cover their losses is what makes Binance special. Here are some security measures the platform takes to offer a more secure trading environment:
- Two-factor authentication
- Address whitelisting
- Users can limit device access
- FDIC insurance on all US dollar balances
- An expert team onboarded for regularly monitoring
- Crypto-to-crypto Trading Available
- Industry-best Trading Fees
- Professional Customer Support