Binance Exchange

Binance Exchange Test

Binance is one of the biggest and fastest growing crypto exchanges. The exchange based in Shanghai went online in July 2017. It become one of the top 10 trading platforms for cryptocurrencies in a short time afterwards. The exchange was founded by Changpeng Zhao, who was also involved in founding BijeTech and OKChain.

What makes this exchange special is its own cryptocurrency of the same name. The BNB coin is used on the crypto exchange to pay the fees for transactions. Users can get discounts if they pay fees using the BNB. The discount is 50% in the first year, 25% in the second year, 12,5% in the third, 6,74% in the fourth and in the fifth year the discount will be dropped.

Another noteworthy thing is the big assortment of altcoins. Not only is one able to buy Bitcoins, the exchange also gives a lot of smaller coins a chance. The “Community Coin of the Month” lets the users on twitter vote on which new altcoin should be listed.

Low fees are another strong point of this exchange. Fees are just 0,1% of the trading volume, not including the discount.

Regarding security: hackers tried to crack the platform at some point, to no avail. So far users do not complain about a lack of security. The interface is designed with a clear style. The platform got its own app for iOS and Android smartphones. The simple registration is pretty easy, one needs only his email address to register. But there is a set limit for withdrawals with the simple registration, only 2 Bitcoins a day. One needs the full authentication to get access to all features of the site. Binance is one of the most popular crypto exchanges for good reasons. Beginners should definitely take a look and register now.