Binance Review

Overview

Binance is a renowned cryptocurrency exchange which focuses on crypto-to-crypto trading. This platform is very popular in the blockchain community due to its coin offerings and amazingly low fees.

binance

Pros

  • High security (hasn’t been hacked)
  • No KYC required for transactions below and up to 2BTC
  • Fast transaction execution
  • Wide selection of coin pairs (~100)
  • Basic and Advanced platform views (both user friendly)
  • Provides technical charts, market news and analysis
  • Low fees
  • Have their own coin BNB (even lower fees if you own the coin)
  • Special promotions
  • Referral program
  • Binance labs (they will fund your crypto project)
  • Launchpad (be a part of existing blockchain projects or create a new one)

Cons

  • No fiat currency deposit available (recent news suggest that they will soon accept fiat deposits)
  • Extensive KYC for transactions over 2BTC (defeats the purpose of decentralization)

Conclusion

If you already have a crypto wallet and are looking for a reliable exchange, where you have great rates and small fees, Binance is a great choice. For now, fiat-currency deposits are not available, stay tuned for updates. The fact that they have their own coin is very good for business and the coin itself is somewhat stable. Provided that a lot of customers will want 50% off – they will hold BNB coin.

They are not just a simple crypto exchange. They back up a lot of blockchain projects, even yours – get in touch with them if you have a good idea! They are an active part of the blockchain community, which is why they’ve thrived thus far!