Binance - We check the cryptocurrency exchange [Review]

Established only two years ago, and already is a global leader. Monthly turnover exceeds 60 billion on it. Cryptocurrency market Binance it's an absolute top on the market. We have carefully examined this platform, which we review as part of our cycle of assessing cryptocurrencies.

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Binance has been operating since mid-2017. This only shows how quickly you can conquer the cryptocurrency market. When she made her debut, there was already a lot going on cryptocurrency exchangeswhy then a new player has taken over a significant portion of the global market? And this - let's add - a huge part, because Binance is among the three largest cryptocurrency exchanges. It has a daily turnover of $ 2,345 billion. It exceeds $ 60 billion a month. How did they do it? The answer can be obtained by analyzing the capabilities of the trading platform, which we have just done for you.

Binance - fees and discounts for own cryptocurrency

In terms of fees, Binance is not significantly different from other exchanges. The transaction fee is not excessive, it is starting at 0,1 percent. We also pay for all deposits and withdrawals. However, if we trade actively, fees may be reduced. They are determined based on the volume of trading in the 30 days (in BTC), as well as the balance of BNB.

BNB Faucet is a cryptocurrency created by Binance. You can trade it on the platform, and the company has smartly taken care of the increase in its value - the more BNB you have, the lower the commissions you pay for transactions with all fees.  So if you have a BNB on your account, transaction fees will be automatically deducted from the BNB balance. For this you can count on 25 proc. discount if the entire transaction fee will be taken from the BNB.

Security: the richest people want to rob them

In terms of security, Binance also puts forward in proven ways. The keys are stored separately, and the verification of users is several-step. You can choose between SMS authorization or Google Authenticator.

Binance also cares about educating its users about the most commonly used attacks. In detailed articles, we will find out what traps are set by fraudsters, how they try to extort data and, above all, what not to do so as not to lose your funds. Despite this, the company - like many other cryptocurrency exchanges - did not manage to avoid a mishap. In May we described a successful attack of hackers who stole from Binance 7 thousand. bitcoin. A month ago, they had a value of around 24 million dollars. Burglary attempts are no surprise since the company acts as an intermediary in the trade of the largest number of crypto accounts in the world.

First of all, functionality

Binance's success is based primarily on the opportunities offered by the trading platform. We have almost countless possible combinations between the cryptocurrencies that we can trade. The platform is very transparent, at first glance it resembles the systems known to u-traders Forex brokers. And these are the best. The operation is intuitive, the graph can be switched to any interval - from minutes to daily, etc.

Binance platform in an advanced version

We can also choose between the basic and advanced stock exchanges. In the latter we have more options, so it will be useful mainly to those who are more active, play intra-day or have a lot of transactions in many pairs. However, if we trade rarely, we want to open the position and hold it, the basic version will be the simplest and the fastest one. And quite sufficient. We can put a lot of technical indicators on the charts.

Academy of knowledge not only for beginners

The additional tabs that allow you to get a lot of knowledge about cryptocurrencies - not only for beginners are also worth praising. We will learn from them, among others how it works blockchain, we will get to know the history and details of virtually all cryptocurrencies that can be traded on the platform. There is also a dictionary, technical analysis and many other content in the form of articles, but also videos, charts and practical examples. There is also a beginner's guide that will guide you step by step through the platform and explain how to use it and take advantage of the full features provided.

There is also an interesting option for those who dream of own cryptocurrency. It is worth knowing that there are several dozen of them in Poland. A special incubator and starter platform for tokens is a good option for those who dream of creation "Own Bitcoins". However, if you are satisfied with trading the ones that already exist - Binance will certainly be a good place to start.

Binance and trading with leverage?

In recent days, representatives of the Binance exchange have confirmed information about plans to introduce the Margin Trading service in the near future. This solution will allow platform users to trade in cryptocurrencies using leverage. What other new products are waiting for us? This is not known, but we will monitor the situation!

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