The world’s largest crypto exchange is more than just its impressive trading volume. This Binance review aims to highlight those outstanding factors and features that add to its popularity and success.
As a new crypto investor or trader, you should avoid opting for an exchange merely based on its trading volume and other features such as high liquidity. You need to know other factors of the exchange and see what the exchange has to offer. In short, as a beginner, you need to know about the available features in detail so you can determine if the crypto exchange is what you are looking for or not.
To make it easier for you to determine, “is Binance safe and suitable for you?” you can take a look at the details of the exchange mentioned below. This will help you make an informed decision and make the overall experience of buying or trading crypto easier and less challenging.
Here is what every new crypto enthusiast needs to know about the Binance exchange.
Binance Review – Introduction of the Platform
Binance is one of the topmost crypto exchanges in the market and was established in 2017. It has the highest trading volume, which makes it the largest crypto exchange in the world. However, that’s not all as Binance is known to offer some of the most unique features to the users.
It is one of the best exchanges in the world and offers support to more than 400 different trading pairs.
It aims to facilitate the new and experienced users alike. This is why, it offers some of the best features that are mentioned below in detail.
User Interface of the Exchange
As mentioned above in this brief Binance review, the exchange aims to make crypto investing and trading easier for every interested party. It has one of the best user interfaces in the market, which is smartly designed while keeping in mind the possible challenges novice parties face while using it.
However, the user experience offered by the exchange is remarkable. The interface is simple and easy to navigate and offers a great experience to all kinds of investors and traders. It executes the orders and requests quickly and without any delays.
Different features and options available for the users is also divided into different categories, which makes it easy for people to find what they are looking for.
Therefore, whether you are new to the crypto space or not you can use the Binance exchange if it suits all your other needs.
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The trading interface is yet another major aspect you need to know before you start using the exchange. There are several major details in this Binance review but the trading interface is also crucial, especially for people who are new to crypto trading.
However, to the delight of crypto traders, this exchange caters the needs of every crypto trader. This is why, the trading interface is divided into categories that are:
The classic interface is for the new crypto traders who look to place simple and straightforward trades. On the other hand, the advanced version is for the professional traders who look to place complex trades.
Safety Offered by the Exchange
One of the most important questions every novice party should ask, “is Binance safe?”. Choosing a platform that offers high-end tools, high liquidity and more but does not prioritize the safety of the users is an unsuitable practice.
Therefore, before you choose any crypto exchange, make sure you look for an exchange that offers high-end safety and security to the users.
If you are interested in this exchange then this. Binance review specifies that it is one of the safest platforms. And makes use of top-of-the-line security protocols, some of which are mentioned below.
- I. monitoring
- Biometric logins
- Cold wallets
- Two-factor authentication (2FA) login
- Forensics monitoring
- Unusual account activity notifications
Fee Charged by the Exchange
The fee charged by Binance is a crucial fact you should know about before you choose it and start buying or trading crypto. The more you know about the amount and transparency of a crypto exchange, the easier it will be for you to decide whether it is a suitable exchange for you or not.
Binance is known to be one of the cheapest crypto exchanges. And the details of its fee are mentioned. Below in this brief Binance review.
- Trading fee for market makers: 0.02% to 0.1%
- Trading fee for market takers: 0.04% to 0.1%
This fee can be reduced further if the traders have a VIP. Level account or if they pay the fee with BNB tokens.