Cryptocurrencies are becoming more and more important in the market, in terms of both investment and trading. That’s why it’s important to choose a good exchange service to manage your cryptocurrency wallet.
If you’re looking for one of these exchange platforms, you’ll need to consider factors such as the speed of operations, commissions, and the variety of cryptocurrencies available. One of the best options that meets all these requirements is Binance. If you want to know all about this cryptocurrency exchange platform, then read on. We’ll tell you everything you need to know.
What is Binance?
Binance is one of the cryptocurrency exchange platforms with the highest trading volume and greatest number of users in the world. It makes it possible to buy, sell, trade, and exchange cryptocurrencies.
One of the best things about it is that both the desktop version and the mobile app have an intuitive interface with tons of features available to users.
In addition, it has its own decentralized investment platform and a native currency (Binance Coin, BNB). It’s a secure exchange platform that offers different account types depending on your needs and knowledge.
As a security measure, it has Know Your Customer (KYC) requirements to verify accounts. In other words, in order to start trading with this exchange platform, you’ll need to validate your identity. To do so, you’ll have to provide images of your national identity card and go through a facial recognition procedure.
What does Binance have to offer?
- Speed of operation: currency deposits and withdrawals are instantaneous, so you won’t have to wait several days for a transaction to take effect. Exchanges to fiat money are also fast.
- Low commissions: as we mentioned above, one of the best things about Binance is its commission rate, which is only 0.1% of the transaction price.
- Variety of cryptocurrencies: this app is known for its wide range of cryptocurrencies. It currently has more than 150 coins listed, including the most popular ones (Bitcoin, Ethereum, and many more).
- Order programming: it makes things easier for you by allowing you to set limits and stop orders so that the platform automatically buys or sells at a price that you have previously determined.
