Binance review: Why is it the first crypto exchange in the world?

You certainly know it, Binance it's here crypto exchange platformo in terms of volume and reputation. Although it is a leader in its sector, you should know that the platform is constantly improving. Every year, we are entitled to a new useful section. Today, we are going to give you our opinion on Binance. We are not afraid to be wrong when we say that it is the most complete platform there is.

One can buy cryptocurrency, do crypto trading (CFDs and Futures), participate in the launch of new tokens (IEO), do staking, etc. In short, the platform can suit all profiles, that's for sure. That being said, today, due to the fact that there are different options available, it can be intimidating for beginners.

What we are going to see here is an article to give you an objective opinion on Binance. Indeed, many newcomers to the cryptosphere wonder what is the best exchange platform. And, we will do reviews on all platforms. All you have to do is choose the one that suits you best.

Who is the founder of Binance?

The Binance platform has only existed since 2017; It's quite recent in fact. The founder who has today become an important figure in the world of cryptocurrency is Chinese-Canadian and his name is Changpeng Zhao (CZ).

Moreover, with the rise of bitcoin in recent times, it has officially become a crypto billionaire. Bravo to him, but anyway, that's not the subject of the article eh. To create the platform, basically, he launched a ICO to raise the necessary funds. Since then, the exchange, as we said in the introduction, has continued to improve. No platform offers as much service as Binance to put it plainly. Initially established in China. Moreover, when China tightened laws towards cryptocurrencies, Binance permanently closed its company based in China. Then, the company quickly opened subsidiaries in Europe. More precisely in Malta, so that European (and therefore French) users can use the service happily.

Is Binance a secure and reliable platform?

Before depositing your money in a crypto platform, the very first thing to do is of course to check the viability of the platform. Confidence is essential when you want to trade without fear on a platform. Binance having arrived after the other major platforms, immediately focused on the security of the platform. Yes, we haven’t forgotten the monster hacks on MtGox for example…

In terms of security on Binance, we are served. Here are the security functions found on the platform to secure your capital as much as possible.

• The use of two-factor authentication (2FA),
• The “captcha” system to avoid robot connections;
• Setting up passwords;
• Email notifications as soon as a connection, or a deposit or even a withdrawal is made,
• We have the possibility of putting our tokens on crypto wallets cold wallet type.

As a result, Binance did not take security lightly and this is perhaps also what explains such success. Firstly, you should know that by being based in Malta, Binance must follow the financial authorities of the European Union. She cannot do anything with user data. Likewise, from a technical point of view, the platform has all the tools necessary to protect your cryptocurrencies securely. Thus, we also have an option to store our cryptocurrencies “cold”. This greatly limits any risk of hacking, in this way.

Finally, you can enable (and it is strongly recommended) to use 2-factor authentication. This is essential on all platforms where you have cryptocurrencies, don't forget it.

So, what we can say is that fundamentally, Binance is a solid, reliable and secure trading platform.

What are the financial assets on Binance?

Very clearly, this is where all the power of Binance lies. This is where the platform is ahead of everyone. You can trade more than 200 cryptocurrencies. Besides, it is always the ultimate goal for new cryptocurrencies to be listed on Binance. What is very appreciable about Binance is certainly the fact that the site adds new cryptos very regularly. If you are looking for a new crypto launched into the market that traders are looking for, look no further. You will definitely find it on Binance!

You can deposit different cryptocurrencies directly on the platform, for example. Likewise, you can buy cryptocurrencies directly on the platform by bank card for example. This makes it easier for beginners to get into, in this case.

As on all exchanges, you can trade and exchange crypto between them or FIAT-crypto. We would like to point this out because in the past, we could only trade crypto-crypto pairs. Ditto for FIATs. You can deposit more than 30 different fiat currencies.

As for pure trading, you can trade CFDs and access leverage of up to 125. This makes it an asset for experienced traders.

What are the fees on Binance?

After security, it is of course the costs which represent the second most important criterion. Compared to the competition, Binance is average. It does not need to have the lowest fees because the trading experience is very high. This is the other side of the coin so to speak. But, for traders, it is worth the cost!

Binance charges a flat fee of 0,1% on crypto-to-crypto transactions, and on the majority of fiat-to-crypto transactions as well. Also note that fees are subject to change. The higher your trading volume, the lower your fees will be.

The good news is that you can reduce your fees by up to 25% if you use the platform's native exchange coin: BNB. It is then extremely interesting and recommend to have some.

Thus, you can greatly reduce your fees depending on your trading volume and the quantity of BNB you own. Be aware that generally speaking, fees can drop as low as 0,015%!

We remind you in this regard that deposits and withdrawals via Binance are generally free. This is especially true if you trade crypto to crypto through the exchange. The only fees you can pay for deposits and withdrawals are a small network fee which is variable.

Also, there are withdrawal limits that apply depending on your usage level with the exchange. You can withdraw a maximum of 2 BTC in a 24-hour period, or $5000 max for withdrawals in fiat currency (EUR, Dollars etc).

What is the trading platform worth?

So, that’s the most important point, isn’t it. You should know that the overall trading experience is excellent on Binance. There is a webtrader built into the browser, which means you don't need to download anything. You can start trading immediately, directly on the platform.

For a beginner, this may seem complex, at least visually. However, very quickly we get our bearings. In addition, the platform has thought of everything. You have the choice between a so-called “classic” view which is frankly simplified. You then only see the available markets and this is very practical for beginners.

The “advanced” version is more suitable for experienced crypto traders. In this view you will have access to a wide range of tools and elaborate graphical indicators.

This is why we say that Binance is a platform suitable for all trading profiles.

Generally speaking, the general experience of trading website at Binance is really very good. The platform is fast and we can therefore execute all orders quickly. Speed ​​is, as you should know, extremely important in trading.

Finally, the platform is also very pleasant in the mobile version.

Let's also remember that the big advantage of using Binance is certainly the fact that we can use it with many crypto trading botas an Cryptohopp is for example.

What are the other services of the platform?

When you start and arrive on Binance, this can still disconcert the most beginners. In fact, we immediately see several sections. We may not immediately understand what this means.

This is what makes the platform strong. Binance has developed a real range of services around the platform. These are truly small, independent entities that only enrich the world of cryptocurrencies. For example, we can do staking on Binance and even lending on the binance platform.

In short, you are spoiled for choice!

You can read our article to better understand the particularities of the services offered and to know how get rich on Binance. -> How to get massively rich with Binance (excluding trading).

Here is the summary of all sections belonging to the Binance octopus, made up of 8 main branches:

• Binance Academy: This is all open access resources for developers. Extremely powerful for people who want to learn more.
• Binance Exchange : Ah! Here we are, this is the actual exchange platform. The heart of Binance.
• Binance Chain : This is more about the internal software used by Binance.
• Binance Labs : Honestly, this is perhaps the most useful section of Binance. It is an incubator that will finance, help and support crypto projects towards success.  
• Binance Charity : This is a really interesting branch of Binance. We had already written an article on a project for helping women through Binance’s charitable foundationEg.
• Binance Info : Like many trading platforms, it is a resource center. We have access to a complete glossary, tutorials and explanatory videos. Training above all!
• Binance LauchPad : This section is the one that launches the new tokens. For those who like to invest in new projects and new tokens, this is the place to go.
• Binance Research: It is a space for fundamental and technical information and analysis on trading.

There you go, now you know everything (or almost) about the largest exchange platform in the world. Our opinion is that Binance remains one of the most complete on the market.

But before concluding this paragraph, I have to tell you about Trust wallet.

What is Trust Wallet?

Maybe you've already heard of it? It is an application available since 2018. In fact, it is an open source wallet, which is freely accessible and which was developed by Binance. It is a decentralized wallet and self-custoy. This means that you are the one who has access to your keys.

—>Read the article: Custodial and Non-Custodial crypto wallet: What are the differences?

This universal wallet is remarkable for its ease of use. This complements the use of Binance even if you can perfectly use the app without using Binance. Moreover, many people use Trust wallet without using Binance.

It is indeed a wallet, ideal for storing Ethereum tokens of all types: ERC20, ERC-223 and ERC-721. Yes, it is, to say the least, complete!

How is customer service on Binance?

The first good thing about Binance customer service is definitely the amount of languages ​​available. There are more than 15 languages ​​that are supported. This is also why we have a good review on binance.

If we encounter a problem on the platform, the support team is very responsive. There is also an extremely rich and detailed FAQ. And if you don't find answers to your questions, the team responds via chat 24/24.

We can file a support ticket directly in the chat support and have a real employee respond to us. For certain questions, you can even have telephone access to an employee of the customer service team. And that, I can tell you, is very rare!

Final words and review on Binance

We have just seen in broad terms what Binance. You can see better why it is a platform so popular with crypto holders. In fact, it has even become a must in the industry.

Whether for the variety of assets, ease of navigation, security, the Binance platform is perfect for buying cryptocurrencies and trading.

Likewise, with the new release of the bitcoin bank card with an crypto cashback going up to 8%, we are sure that his leadership will only be greater! As you can see, our opinion on Binance is more than positive.

To go further, you can also consult the article tutorial on Binance. You can also read our awesome article to find out how you enrich on Binance.

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Note: Cryptocurrency trading is highly speculative and carries significant risk. It is possible to lose all your capital invested in trading. These products may not be suitable for everyone and you should ensure that you understand the concepts of trading.

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