In 2017, I’ve joined with Binance only to buy Binance’s own coin: BNB. Nowadays, I’m trading in more than 10 main exchanges. Still, I believe Binance is the best exchange to trade crypto currencies.
If you haven't joined yet, don't Forget to join on Binance
https://www.binance.com/?ref=16712036
Advantages of Binance
Huge list of alt-coins
One of the main reasons that Binance exchange is so popular is because they list so many different cryptocurrencies.
Fun Fact 3: There are now more than 1500 individual cryptocurrencies, with new ones being created almost every day!
There are more than 100 different cryptocurrencies available at Binance. They range from well-known coins such as Ethereum (ETH) and Litecoin (LTC), to smaller coins like CyberMiles (CMT) and ZCoin (XZC). Coinbase, an exchange that sells more Bitcoin than any other, only lists a total of 4 coins!
Low fees
Another excellent feature of the exchange is that when trading crypto-to-crypto, Binance fees are one of the lowest in the industry. Customers are charged 0.1% on every trade, meaning if you traded 1 ETH, you would only be charged 0.001 ETH!
Fun Fact 4: If you are trading with Binance Coin (BNB) you get a 50% trading discount!
Deposits are always free, but withdrawals do cost money. However, most exchanges operate in the same way. Withdrawal fees are different for each cryptocurrency, and change depending on their value.
For example, at the time of writing, for every Litecoin (LTC) that you want to withdraw, it would cost you 0.01 LTC in fees. However, if the value of Litecoin increased, so would the withdrawal fee. This is because the fee is fixed to the price of Litecoin, and not top the price of USD (or your local currency).
There are no limits to the value of deposits you make, but if you want to withdraw more than 2 BTC worth of cryptocurrency, then would need to verify your account further. This can be done by submitting identification, such as your passport.
Prizes
Regular traders on Binance exchange have the chance to win prizes. These prizes change all the time and have so far included free cryptocurrencies, such as Waves (WAVES) and Ontology (ONT). They have even a gave away a Maserati car! How cool is that!
ICO launch pad
Binance is well known for listing new cryptocurrencies as soon as their ICO has finished. This shows that many crypto companies view Binance as their favorite exchange. Binance doesn’t just list any old cryptocurrency though, it has to really prove itself as a solid cryptocurrency for Binance to list it.
Security
Binance takes security very seriously, and customers are asked to set up two-factor authentication (2FA) when they register an account. 2FA is an extra level of security that sends a special code to your mobile phone every time you want to log in, trade or withdraw funds.
If you are still wondering “Is Binance safe?”, the website also uses the CryptoCurrency Security Standard (CCSS) to protect accounts, which is an industry standard for major exchanges.
High Volume Trading
As Binance have become one of the most popular exchanges to buy, trade and sell cryptocurrencies, there are lots of trades happening all the time. This is an important factor as it means you have a better chance of selling your cryptocurrency immediately, if and when you need to.
For example, if you wanted to buy a cryptocurrency, but it has a low trading volume, then it’s harder to buy, because there aren’t that many sellers. However, if lots of people of looking to sell that coin, it will be easy to buy.
Fun Fact 5: The technology supporting Binance can process up to 1.4 million transactions per second!
Best exchange, best technology and best customer service makes Binance the best exchange to deal with.
Binance Link:
https://www.binance.com/?ref=16712036
Hey @nelson123, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! Cheers :)
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