Binance

by Binance Holdings Ltd.

Binance is the leading cryptocurrency exchange system.

Binance description

Binance is an online platform, founded in 2017, which provides an opportunity for trading of different cryptocurrencies. There are three types of trading, which are available on the platform, such as spot, margin and future trading. 500 plus cryptocurrencies are available for trading on Binance, these comprise such popular ones as Bitcoin and Ethereum. However, only about 50 of these cryptocurrencies are provided for United States’ customers.

Binance offers such trade orders, as limit orders, market and stop ones. The former can be done only at the specific price limit, which the trader oneself sets. Market orders’ distinguishable fact is that they can be executed straightway at the best possible price, which is available in the market. Finally, stop limit orders can come into effect only at the point when price arrives at the designated level.

In order to use this platform for trading, users need to fill in the necessary “Know Your Client” requirements and when the account is created, it becomes possible for users to add funds to their wallets, which Binance provides, in order to start the trading process on the platform. On Binance, there is no set fee, which platform levies for deposits, however withdrawals cause transaction fees, which depend on such factors as cryptocurrency type and specific amount.

Special Binance characteristics:

  • There is a blockchain incubator, which is called Binance Labs. It focuses on providing promising projects with funding and other helpful resources.
  • There is a cryptocurrency, called Binance Coin, which is owned by Binance itself.
  • In the case if the user pays with Binance Coin, this user can use special discounts.

    Interesting facts

    1. The name of the platform is a word combination, made up of “bitcoin” and “finance”.

    Binance features

    Exchanges

    Check out Depositing funds Depositing funds from a bank card or cryptocurrency wallet 1
    Check out Withdrawal to bank card Withdrawing money from the account and transferring it to a bank card 0
    Forms of trade: Futures trading, Margin trading, Spot trading 1
    Check out Transaction protection Protection of transactions from scam and other types of incorrect actions 1
    Check out Currency converter Currency converter integrated into the exchange 0
    Available markets: BTC, BNB, ALTS, FIAT, ETF 2
    Available crypto types: POW, DeFi, POS, Innovation, BSC, Storage 1
    Check out Listing Ability to place your own cryptoservices on the exchange 0
    Reviews
    News

    Best exchange

    Recommend
    Positive
    Reliability
    Convenience
    Price
    Support
    Functionality
    Negative
    Appearance

    Liked

    Liquidity, popularity.

    Disliked

    API doesn't have enough funcitons.

    I like this exchange, easy to use.

    Useful and usability platform

    Recommend
    Positive
    Reliability
    Convenience
    Appearance
    Price
    Support
    Functionality

    Liked

    Binance is a great exchange that i ever seen. To many Binance is the most feature-rich crypto exchange I have ever seen. Here you can open a wallet, use blockchain explorer and find out the latest currency quotes.

    Disliked

    Special disadvantages did not identify, perhaps large commissions, but they are offset by ample opportunities.  

    As Christian Oldman says, Binance is the most convenient exchange, which will help you increase your income by several times.

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