Binance Exchange Review
Binance Exchange is one of the best exchanges in the field of trading or buying and selling cryptocurrencies and bitcoins, which not only supports very good aspirations, but also the strong team of this exchange makes a great position in the cryptocurrency market in a short time. They are slowly adding growth capabilities to the exchange.
The exchange opened in 2017, But it grew very fast and surpassed its powerful competitors. Binance is a crypto-asset exchange located in Malta. Their volume over the last 24 hours is $59.77B. The exchange is rated “A” which means “Transparent.” Out of 696 exchanges, they are ranked #1 by transparency and volume. Binance accounts for 24% of the total volume in the cryptosphere indexed by us. They’ve executed 42,763,784 trades over the last day, which accounts for 100% of trades indexed by our platform. They allow trading with the following fiat currencies: AUD, BRL, EUR, GBP, NGN, RUB, TRY, UAH, USD, and ZAR.
Binance is reportedly headquartered in the Cayman Islands, But it also has other offices around the world. Due to the very high volume of transactions, lack of bad records, popularity in social networks, and the existence of an insurance fund in case of hacking and security breaches, the credibility and security of this exchange are much higher than most cryptocurrency exchanges. The CEO of Binance is a Chinese-born man named Changpeng Zhao, better known in the cryptocurrency community as CZ.
In addition to the ability to trade on the Binance website, the exchange has a special application for both mobile and personal computers, which makes trading easier for users.
Binance Exchange Fee
Binance exchange fees vary at different user levels. For example, people with a monthly trading volume of fewer than 50 bitcoins pay 0.1 percent of the transaction amount.
Binance commissions
Binance fees at different user levels
Fees can be reduced by up to 25% if you use Binance Coin (BNB), the local cryptocurrency, in your transactions.
Binance does not charge a fee for depositing and recharging the account, But withdrawals from this exchange have a fee that varies depending on the type of cryptocurrency.
Advantages of Binance Exchange:
• The highest trading volume and therefore the best liquidity
• User friendly and easy to use environment
• Has a mobile application with support for most of the site features
• Support for thousands of cryptocurrencies and the ability to trade on a large number of cryptocurrencies such as Tetra, Bitcoin, and Etherium
• Low fees
• Equipped with the two-factor authentication system
• Strong security team to deal with hacking risks
Disadvantages of Binance Exchange:
• Mandatory authentication steps and as a result no service to Iranian users
• Lack of services in some countries such as China and limited services in some European countries
