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I've been using this exchange for some time now and recommending it to other users in chats, here is some info about it and some things I like and dislike about it.

Binance is a new exchange focusing on coin to coin trades. It's one of the first in the world to target multi-language availability, starting with english and chinese and adding korean and japanese next.

Binance CEO Changpeng Zhao has recruited some of the best dev available for the exchange. They are one of the fastest exchanges as well making it possible for orders to match to a speed of up to 1.4 million per second.

They had an ICO on the Binance Coin which allows for discounts on exchange fees, withdraw fees and listing fees. You use the token for fees instead and get the discount rate as follows: 50% for the 1st year, 25% for the 2nd year and halving to the 5th year where the discount ends.

This is the chart of the Binance coin since it's been trading (taken from coinmarketcap):

The exchange recently surpassed Bittrex which has been one of the leading exchanges in volume for a long time after Poloniex difficulties during the summer. Needless to say it's quickly becoming very popular, the referral system they use might be a big reason to it. The user with most commission from referrals to this day has received over 40 BTC. You receive half of the fees users spend on their trades which consist of 0.05% if you use binance coin for them, which means the referrer earns 0.025% out of that. It also has lower withdrawal fees than many other exchanges, I've been able to withdraw BTC for only 0.0005 BTC.

They are also known to be fast at adding new currencies to their exchange for the right price. If the currencies are promising and show potential of being added to other exchanges later it has driven many investors to buy a lot of them. They also make possible marketing of currencies through certain contests such as "the account with most purchases of coin X gets a special prize of X tokens of X coin" which seem to be pretty popular and leading to a lot of volume.

I personally love the 0.05% fees, compared to other exchanges that offer 0.2% up to 0.5% this is a huge difference, especially if you are trading with bigger volumes.

One thing I am not much of a fan of right now compared to other exchanges, is that it doesn't let you trade certain coins in decimals, this simplicity might be due to allowing for the fast trade speeds but it leads to a lot of dust amount of different coins making your wallet look messy. I also don't like that I can't just click on the currency in my wallet to get to the exchange directly.

Another thing that slightly annoys me as a daytrader is that you can't easily check your history of certain trades if the trade occurred a day late, making you have to open up the history tab even though they could just leave it there on the exchange since it already has a tab available for it, not sure why the remove it so quickly but I guess it's something that can change over time:

Something that felt missing and they recently added was stop-losses which are very helpful for daytraders especially with fees only being 0.05%, it makes it pretty hard especially in a bull market as we are having lately to fail at trading over there. :)

If you liked this post and review, there is a link with my referral in the image below, I'd appreciate if you use it. As said earlier, you don't lose anything by doing this, I just gain a percentage from your trading fees.

Hope they will add Steem & SBD to it soon, if you want to help that process, check out this post by @razvanelulmarin

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