Binance.com provides members with a wide range of crypto assets to choose from. In addition, there are several payment methods, including bank and wire transfers. Although there are restrictions to other countries, Binance remains one of the best crypto exchange and trading platforms.
Members get the chance to trade with over 100 altcoins with margins set up to 10X. It’s one of the most rapidly growing crypto platforms we have. Binance comes from the word “Binance” and “Finance” thanks to the numerous trading products.
The company behind this crypto wonder platform resides in Malta. Before moving to Europe, the company was operating from China. However, the company went to Japan before settling in Malta due to regulatory restrictions.
Changpeng Zhao is the founder of Binance. When it comes to verifying your account with Binance, it’s no mean task. Several users complain of the thorough verification process. The platform wants to ensure and guarantee your safety.
There are three verification levels on Binance. To thoroughly verify your account, you need to pass all three levels. And this means having to send proof of address and identity. In addition, you have to sign up with email and phone codes.
Advantages and disadvantages of Binance
Most hail the platform thanks to the low fees. It has one of the lowest fees seen in the crypto industry. The minimum acceptable deposit for trading with Binance is $10. In addition, there’s a flat fee of 0.1 percent on spot trading.
There are over 60 cryptocurrency pairs available for trading. You should also know that there are no reports of breaches on the platform. And this means the security level on Binance is one of the best.
Members can use their own digital wallets with the platform. It comes with a mobile app which makes it convenient for traders on the go. You won’t experience any lags on the platform when it comes to trading.
Customer support has to be the biggest flaw with the platform. You don’t get any direct access to support. The platform only deals with email support with no live chat or phone number. It also has different domains for several countries.
Coins available on the platform
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