Binance is one of the most popular cryptocurrency exchanges. In just two years, it has become a go-to option for new altcoin investors and experienced traders alike. It’s simple interface makes it easy to buy and sell cryptocurrencies in your local currency, such as USD or EUR. However, Binance doesn’t offer customer support beyond basic FAQs or emailing their customer service team with questions. If you’re looking for a more complex platform with better support options then check out Coinspot or Coinbase instead.
Pros:
Binance is a cryptocurrency exchange that was launched in 2017. It’s one of the most popular crypto exchanges in the world, and it has become known as one of the top exchanges because of its high trading volume and low fees.
Binance offers a wide variety of coins, including major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP – plus many others that aren’t as well-known but could be worth looking into. The platform also allows you to invest in ICOs, or initial coin offerings – which are different from stocks or bonds because they can give you returns on your investment if you buy at just the right time.
While this isn’t an exhaustive list by any means, here’s some more info about why Binance might be right for you:
Low fees
Binance offers a 0.1% fee on all trades, which is one of the lowest in the market. It also offers a 50% discount on trading fees if you pay with BNB, making it one of the cheapest options available.
Binance does not charge fees for deposits or withdrawals.
Binance does not charge fees for listing new coins, which makes it more attractive to new projects that want to be listed at an exchange but can’t afford high listing fees at other exchanges like Coinbase Pro (1m USD).
The exchange also offers a variety of trading pairs, which makes it easier for users to find an option that suits their needs. Binance has one of the largest selection of coins available on any given day, which makes it easy for traders to find what they want.
Many coin offerings
Many coin offerings (ICOs) have been launched on Binance. You can buy coins with fiat currencies like USD, EUR, GBP and JPY. There are no limits on how many coins you can buy or sell at a time. The more coins you buy at once, the cheaper they become because of the reduced cost to trade them back on the exchange platform.
The other aspect to consider when buying in bulk is that your trading volume will increase as well—and this has strategic value for those who plan on selling their holdings later down the road.
There are many reasons why traders choose to buy in bulk. First, they may want to be able to scale their positions without having too much of an impact on the price—as this could lead to costly liquidations later down the road. Another reason is because buying in bulk allows you to take advantage of arbitrage opportunities that arise from price differences between exchanges.
Cons:
Binance is a solid choice for new altcoin investors because of its low fees and many coin offerings. However, the exchange has poor customer support and lacks some important features offered by other exchanges.
For example, Binance only offers cryptocurrencies for trading. It does not support fiat currencies like US dollars or euros. If you’re looking to trade USD for altcoins, you’ll need to use another exchange like Coinbase (which is not an option in all countries).
Binance is also one of the most popular exchanges around, which can cause some issues with trading. There’s no way for them to stop people from flooding their servers with requests, so during periods of increased activity there may be delays when placing trades or withdrawals.
Poor customer support
The customer support at Binance is a mixed bag. Some users report positive experiences and say that they have been able to successfully withdraw funds, while others claim to have had problems with their accounts.
If you need help with your account or any other issue, the customer support team can be reached via email or through their 24/7 live chat feature. There are also language options available in English, Chinese and Japanese.
Binance is a cryptocurrency exchange that allows users to buy and sell hundreds of different cryptocurrencies. It’s one of the most popular exchanges, with over 9 million active users in 2018.
Binance is a solid choice for new altcoin investors.
Binance is a good choice for new altcoin investors. It offers low trading fees, the ability to trade a large number of coins, and has developed a reputation as being one of the most stable exchanges around.
Binance allows you to buy and sell Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) with your local currency. You can also trade between different cryptocurrencies on Binance, including Bitcoin Cash (BCH), Litecoin (LTC), NEO and Tether.
When buying or selling cryptocurrency on Binance you will incur a small fee which varies depending on how much you trade or transfer in any given period of time. However, these fees are still significantly lower than similar services offered by other exchanges such as Coinbase Pro or Kraken where the standard fee tends to range from 0% – 1%.
The bottom line on Binance is that it’s an excellent choice for early-stage cryptocurrency investors. It’s easy to use, has low fees, and offers many different coin offerings. This platform may not be ideal for advanced traders who want more control over their investments or those looking for a more personalized experience. However, if you’re just starting out with crypto trading then this might be perfect for you.
