Binance provides services only with crypto to crypto exchange. It supports more than 100 coins for deposit and withdrawal. Binance also offers the cheapest and easiest way for a crypto on a kind of exchange. Users from different parts of the world are accepted in this platform and the crypto community gives so much favorable comments and reviews. This platform is launched by developer Changpeng Zhao, located in Hong Kong. Binance also have its own coin called Binance Coin (BNB).
Trading systems for almost 30 other platforms are currently provided by them. They change their headquarters from Hong Kong to a more lenient state because they are having struggles with the government’s view on cryptocurrencies in China. In terms of the 24-hours trading volume based on Coinmarketcap, Binance sits around the top 10.
Since Binance is only a crypto-to-crypto exchange, it does not support or uses fiat currencies. They are working freely because of that. The platform offers you two interfaces to choose from, basic or advanced. You can have a quick view of trading pairs and markets which makes it easier change pairs when you use the basic interface. And, if rather wants the advanced interface, you will also have access to the advanced charting tool. Still, people think that the two are just the same because they view it as both complexes. Selecting cryptocurrency is also available for trading conjunction with the following currencies: Tether, Ether, BNP, XRP, and Bitcoin trading pairs.
Binance was also partnered recently with Simplex so that it could be able to supply a brokerage service. You are allowed to purchase 6 different cryptocurrencies: Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin (BTC), Binance Coin(BNB), and Ripple (XRP) using a credit card with this service, but it comes with a fee of 3.5%. Only crypto deposits are being accepted by the platform. You can deposit and withdraw all the coins that are supported by the exchange. The available number of coins for depositing, withdrawing, and trading is nearly a total of 100.
The fee structure of the exchange is cutting edge in this competitive space. They have a flat rate of 0.1% which is very alluring for any user which does not need immediate liquidation for fiat currency. It is so incredible because it undercuts almost all the other big exchanges since they have charged much more than 0.2%. 25% discount on your trade fee is being offered, if you are working with the Binance native coin. Deposits are free to do but withdrawal fees are necessary and it seems to be updated regularly to offer and try a fair price.
They have a very simple limit structure, only the withdrawal limit. You can withdraw up to 2 BTC every 24 hours if you are one of those who have a Non Verified account. Verified accounts users are entitled to withdraw 100 BTC every 24 hours compared to Non-Verified. You are required to fill out a basic Know Your Customer (KYC) form and provide proof of your identity with other documents for verification.
Binance does not limit countries that can use their platform; they are accepting all possible users worldwide. Many users continue to upbeat the services of Binance because they are loving it. With a susceptible exchange, lesser fees, and developers that holds track record is evident to leave most of Binance clients smiling. A comprehensive success is being considered by the platform. You can inquire for support via the platform’s email contact form. Because of the sheer growth in demand, you will probably wait for the response for a little while, same with other trading exchanges. Bot chat is available for customer service but mostly, the response is automated.
Still, it is good that the website is multilingual. That is why you can get along just fine from a language to another. There are a total of 15 languages that the Binance is supporting. Being a global cryptocurrency exchange makes a big advantage for Binance since it seeks to compete in this kind of industry. Binance may not offer you a variation of services since it only focuses on crypto-to-crypto exchanges, but at the very least, they are a very open company because they are accepting all possible users without limiting for which country could not. That is an advantage of Binance that other trading exchanges do not have.