Binance is the crypto bank of reserve

xuanling11
Coinmonks
Published in
3 min readNov 26, 2022

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Photo by Esteban Lopez on Unsplash

In the crypto world, Binance is the destination destination destination for all things cryptos. It’s home to both a number of leading cryptocurrency exchanges and a wealth of lesser-known coins that may or may not have any crypto links at all. But if you ask most crypto professionals and there’s no doubt they’ll have heard of Binance — it’s probably because they are one of the largest digital asset exchange platforms in the world. And while they do have their fair share of drawbacks, including slow site performance and demand for specialist advice on trading, they have something to offer everyone else who is looking to make money with cryptocurrencies. Here are 5 reasons why you should trust Binance as your #1 place to buy & sell cryptocurrency In this blog post we’ll take you through the basics and what makes a good fit for Binance as your first port of call when buying & selling cryptocurrency. If you are just getting started with cryptos and want to see how things work from an amateurish perspective then this might be worth checking out first.

What is a cryptocurrency?

A cryptocurrency is a digital asset that uses cryptography to secure its information. Unlike conventional cash, cryptocurrency transactions are not verified by governmental agencies — unlike banks, credit unions and credit card issuers. Moreover, unlike fiat money, no one but the owner of an cryptocurrency can print its own currency. This makes cryptocurrencies different from traditional fiat money in that they are not backed by anything: no government, corporate or other source of authority.

How to buy & sell cryptocurrency

You can buy or sell cryptocurrencies on any trading platform. If you want to buy and sell frequently, consider trading on a platform like Binance. There are many different types of exchanges, but the most popular is Coinbase. Another popular exchange is Kraken. If you are unsure where to start, look no further!

The reasons why you should not trust Binance as your first port of call when buying & selling cryptocurrency

Freaking out about Binance’s domination?

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