Crypto exchanges are the websites that facilitate the buying and selling of cryptocurrencies for other digital or traditional currencies. The transactions consist of trading platforms and brokers.
Binance is a global cryptocurrency exchange with a substantial share in the total market. Its origin is in China, but its headquarter is in Japan due to the ban on cryptocurrency trading by the Chinese government in 2017. It is a highly liquid cryptocurrency that allows people to trade with several benefits over other financial instruments. Investment in any of the Binance currency tray generates substantial gains. It is the best exchange due to various reasons.
Binance exchange involves large volumes of trade. The buyers and sellers are, therefore, exposed to vast opportunities for faster business with high liquidity. The massive capacity of trade provides the best chance for investors to trade at more exceptional pricing easily.
The user interface of the Binance exchange is understandable quickly. Everything fits neatly on the screen. The signup process is easy, with only two security factors. The UI of the website is interactive, and the deposit process takes a short period. It is possible to withdraw two bitcoins every 24 hours without passing through all the verification steps. Binance exchange is, therefore, user-friendly. New traders hence can execute their transactions without technical challenges.
The exchange is highly conscious of the security of the transacted funds and accounts of the users. In addition to the passwords, there is the google authenticator that strengthens the security. The admin URL login has HTTP access for the prevention of URL hijacking. Prevention of the user's login is through the IP address verification email, which facilitates the disabling of multiple logins.
Binance exchange is highly responsive to the users' challenges, such as the trading issues and the possible factors disturbing their experience. In the last few months, it drastically reduced the withdrawal fees on several cryptocurrencies as a solution for the complaints about the high withdrawal charges. Customer support is, therefore, credible.
There is a variety of cryptocurrency options in the Binance exchange. They vary from the most potent coins like the Litecoin and Ethereum to the Zcoin and CyberMiles. It also supports most of the numerous ICO listings with their respective tokens. It, therefore, provides a comprehensive platform where traders can avail of several choices.
Binance exchange supports several languages. Besides English, there are Japanese, Russian, Chines, Spanish, German, and French. There is the Binance app in both the Android and IOS. It is, therefore, accessible across the globe.
The traders in the Binance exchange enjoy the benefit of the lowest transaction and withdrawal charges. There is a default law to maintain the trading fees at 0.1%, which is extremely cheap. In comparison with Bittrex, whose trading fee is at 0.25%, Binance is the most economical. Charges payment through BNB guarantees 50% off the price. Therefore, there are low and competitive trading fees.
The founders of the Binance exchange are industry veterans. They have a proven track record in crypto and finance. It launches new technologies, with the most recent being the DEX Exchange. Binance can process an enormous number of transactions each second. The system allows the traders to enable the BOT trading option to maximise the profits.
The platform makes it possible for the website users to promote their tokens and list them on the exchange by filling a form. It is easy for the admins to record the random numbers of ERC20 symbols and pair them with the available trading set from the panel. The admins can also enable random numbers of liquidity APIs dynamically, depending on the market variations.
Binance exchange has a better referral system. Provided the referee trades with Binance, there is a guarantee of a 50% commission to the referrer.
Binance coin has immense popularity among traders. It has a steady place within the top position on the coin market cap. Therefore, there is excellent potential to grow further. Both the old and the new cryptocurrency exchanges have listed the BNB altcoin on their trade. These include the Gate.io, Bancor, and IDEX exchanges. There is also the emulation of Binance by renowned exchanges like Coinbase and Kraken through the introduction of native tokens.
Binance is, therefore, the best exchange in the world. It holds the most significant shares in the total market.