Binance - Cryptocurrency Exchanger Review review

The Binance digital asset platform appeared after ICO.

The best cryptocurrency exchanger of 2018.

As a result of which it also has its own token —Binance Coin (BNB), ranked 15th in terms of capitalization among others cryptocurrencies with a market cap of $1,886,824,549 and price of $16,55 at the time of writing.

Founder and CEO of Binance — Changpeng Jao ​​previously worked in such eminent resources as Bloomberg, Blockchain.info, OKCoin and BijieTech. 

Since the founder of the exchange was not the last person in the world who had a cryptocurrency, the trust to the project was initially extremely high, so during the ICO in July 2017, it was possible to attract about $15 million from more than 20 thousand investors. 

Service initially attracted attention with its rich functionality.

Reliable protection and low transaction fees, which now amount to about 0.05-0.1% per transaction. 

After the ban in South Korea, Binance focused on the Japanese market, and the stock exchange currently has a residence permit in Hong Kong, Tokyo and, more recently, Malta added to the list. 

The daily trading volume of Binance is approximately $4 billion. In addition, more than 230 cryptocurrencies pairs are available on Binance.

Advantages

  • Low fees for transactions (0.1% and 0.05% for BNB payments);
  • 230 trading pairs, many young coins after ICO;
  • High system efficiency: 1.4 million operations/sec;
  • Exchange No. 1 by trading volume (especially TRON, Ripple, Ethereum);
  • Multi-language support;
  • 2 interface modes: for beginners and advanced users;
  • No mandatory verification in the system when outputting up to 2 BTC/day;
  • User accounts are protected;
  • Two-factor authentication (2FA);
  • Wide range of tools providing API to third-party developers;
  • High level of trust and an excellent reputation in the network;
  • A competent technical support service working 24/7.
  • Mobile app for iOS and Android.

Disadvantages

  • Fully cryptocurrency exchange, does not work with fiat money;
  • Only integers are available for withdrawing;
  • Translation errors from Chinese to other languages;
  • Binance may slows down due to huge quantities clients;
  • Lack of information on security technologies and user accounts.

 

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