Binance Review – What Makes this Exchange a Good Choice?

Binance Review

Who hasn’t heard of the cryptocurrency market these days? Bitcoin is undoubtedly the top cryptocurrency today, but it is not the only buzzword. The crypto market, in general, has become a very hot space and people are clamoring to get a piece of the pie. Therefore, a number of cryptocurrency exchanges are being established left and right, which are designed to facilitate the buying and selling of different cryptocurrencies. A quick Google search will show you hundreds of exchanges to choose from, but you will eventually end up at this Binance review. Why?

This is because Binance is regarded as the top cryptocurrency exchange in the world and is undoubtedly one of the largest ones that exist today. It was founded in 2017 and was originally located in China, but they had to shift to Japan later on because of the regulatory issues they were facing. The exchange became so popular in 2018 that they actually had to suspend new registrations on their platform because of the massive traffic. You can check out the following review to know why Binance is a good choice:

Huge list of cryptocurrencies

One of the first and most prominent reasons that Binance is one of the best choices for anyone looking to buy, sell and trade cryptocurrencies is the huge list of cryptocurrencies it offers. A quick look at some of the other exchanges shows that while they do have options, none of them are as extensive as Binance. You will find more than a hundred different altcoins to explore here, which gives people room to diversify their crypto portfolio.

Not only do you have access to Bitcoin and some other well-known coins, such as Ethereum and Litecoin, but you will find that Binance has also added some of the newer and smaller coins on their exchange as well. These include names like ZCoin and CyberMiles. You will be able to tap into the potential of the crypto market and boost your profits.

Low fees

If you are looking for just one reason to opt for Binance rather than any other exchange, the low fees it charges should be good enough. After all, your goal is to make as much profits and possible and their low charges enable you to achieve it easily. The exchange is charging 0.1% on every trade, which is the lowest that you have to pay. You can make deposits on the exchange free of charge, but there are withdrawal charges involved. It should be noted that withdrawal fees is different for every cryptocurrency. It should also be noted that you would need to verify your account by submitting identification for making withdrawals.

Excellent security

Another excellent feature that you will come across at the Binance exchange is their top-notch security. This is a big concern for people when they are doing anything online and this is particularly true for the crypto market. No compromises have been made in regard to security, as Binance asks its clients to set up 2FA (two-factor authentication) upon account registration.

This adds an additional layer of security because no one will be able to log into your account without your authorization. Apart from that, you should also note that Binance uses Cryptocurrency Security Standard (CCSS) for protecting account, which is considered an industry-standard for most exchanges.

High volume trading

You will also appreciate Binance for its high trading volume, which makes it easier for you to sell your cryptocurrency. As it is a popular exchanges, there are a lot of transactions happening simultaneously and this enables you to sell your crypto very quickly. Low trading volume means you will have difficulty in buying and selling your cryptocurrency, which can be a downside associated with many exchanges.

Bottom Line

Put all of these reasons together and it is not difficult to see why Binance has managed to surpass a number of other crypto exchanges in the market to become a leading choice.

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