If you are looking for the best platform to trade cryptocurrencies, Binance is your answer. Founded in 2017, this platform has grown to have a global reach, thanks to its dedicated and experienced CEO and founder Zhao Changpeng of China. However, following the ban on cryptos by the Chinese government, its headquarters moved to Japan and later to Malta.
The platform supports over 150 cryptocurrencies, including Zcoin (XZC), Ethereum (ETH), and Litecoin (LTC), among others. Many traders like this platform because they charge low fees.
Why Choose Us
Min. Deposit: $100
Regulation and Trust
Binance prioritizes the safety and security of investors’ funds. Their 2-factor authentication ensures only the actual account subscribers can log in and trade, deposit, or withdraw funds. The platform was only hacked once in 2019, in a case in which they lost 7,000 bitcoin.
However, the Secure Asset Fund for Users (SAFU), which they had introduced in 2018, ensured none of their clients lost their deposits. According to a statement released in 2020 by the Malta Financial Services Authority (MFSA), they have not registered officially in the country, and they don’t regulate it.
Fees & Commissions
If you want a trading platform that charges low fees, Binance should be on top of your search list. Apart from charging low fees, their fee schedule is very clear. It will show you the amount you are supposed to pay at every trading level.
It is free to deposit on this platform, but you’ll be charged when withdrawing funds. The amount charged depends on the cryptocurrency and the prevailing market conditions. Each trade is charged a flat rate of 0.1%. If you use a Binance Coin (BNB) to pay for your trading fee, you’ll receive a discount.
Binance has built a strong community comprising its management staff, employees, and customers. Once you have subscribed to this platform, you can join one of its Telegram discussion channels in a region or language of your choice. Binance is also found on VK, Instagram, LinkedIn, Weibo, Reddit, Twitter, and Facebook.
Currently, Binance has over 15 million customers spread all over the world, trading over $2 million daily. Binance is present in about 200 countries.
It is quite easy to trade on Binance because it is a user-friendly platform. There are many cryptocurrencies to choose from in union with Tether, XRP, BNB, Ether, and Bitcoin pairs.
It has a well-designed interface that is easy to navigate, making your investment adventure a breeze.
Tools & Functionality
Binance avails Margin Trading for some selected pairs, which allows users to enjoy the leverage of as high as ten times on select coins. You can choose a cross margin or isolated margin. His platform will allow you to exchange fiat with other coins, and also provides a variety of ways of buying cryptocurrencies.
For example, the peer-to-peer (P2P) trading allows users to buy and sell cryptos to one another directly. You can also use your debit or credit card to buy cryptos on this platform. With this method, you’ll be able to buy up to 31 different cryptos. However, using this method will attract charges of up to 3.5% for US dollar purchases.
Another method of buying cryptos here is to use wire transfers/SEPA. This is made possible courtesy of the integration of the platform with third parties.
Binance offers three interfaces, namely the basic platform, the classic platform, and the advanced platform. You can choose a platform that suits your trading experience.
On the classic interface, you can quickly view the trading and market pairs, and switch easily between them. On the advanced interface, you’ll be able to access advanced charting tools.
The classic and advanced interfaces are too complex for new traders. So if you are a beginner, you should sign up for the basic interface. This interface will allow you to buy and sell cryptocurrencies at the prevailing market rates, without orderbooks or charts.
On matters to do with customer service, there’s a lot you’ll love Binance for. Experience developers, quick response, interactive interface, are just some of the things you’ll love Binance for.
The site has a contact form that you can use if you have any issues you want to be addressed. However, if you use this form, it may take a bit of time before you get a response because of the large number of people who use this form.
The best option is to use the chatbot provided on the site. Though this provides automated responses, it can help if you need a quick response. Another reason why many clients like Binance is because it is bilingual. The site supports up to 15 languages.
Binance offers a user-friendly trading platform with an impressive number of cryptocurrencies you can trade, including Tether, XRP, BNB, and Ether, among others. It has three platforms, namely the basic, the classic, and advanced platforms.
These platforms suit users with different levels of experience. The broker has a strong online presence, making it easy for its clients to interact and learn from one another.
|Nationalities||US clients can make use of Binance US|
|Is a corporate Account Possible?||YES|
|Sign Up process||FAST|
|Funding options||Credit Card, Debit Card, Crypto Transfer, Bank transfer|
|Amount of coins||150+|
|Leveraged trading is available?||YES|