If you are keen to start buying and selling a cryptocurrency, there are not many excellent places to find than one of the largest cryptocurrency exchange platforms worldwide than Binance. Changpeng Zhao founded Binance in 2017. He has earned himself the best spot on CoinDesk’s 2018 Most influential list. Binance gained prominence during the historic crypto bull run which was hosted in 2017 and supporting a wide selection of cryptocurrencies. Binance was one of the most reliable and quickest trading platforms and probably still is. This exchange became so well-liked in such a short span that it became worth more than a billion dollars in fewer than a year, officially being one of the first companies who achieved unicorn status in the cryptocurrency sector. However, besides their reputation as being a preferred destination for crypto traders, it is not as easy for users to navigate their away around the platform if they lack traditional investment or trading experience.
What Are The Supported Cryptocurrencies?
One of the best features of Binance as a cryptocurrency exchange is the vast amount of coins that they have on offer. Whether you are looking for mainstream currency such as Bitcoin (BTC), or another coin like Ripple (XRP), you would find it difficult to find a coin which is not supported by Binance. To sum up, their complete listing of coins presently stands at more or less 100 different cryptocurrencies. You can find more information on Binance by looking at this post where they were reviewed on Crypto Head.
Once your account is activated, you must add funds to the account before navigating the rest of the exchange, especially if you want to start buying and selling any cryptocurrencies. Binance is equipped with a feature that enables users to buy particular cryptocurrencies directly with a Mastercard or Visa credit card. If you are an acceptable candidate, you can go to the “Funds” tab and choose “Buy with a credit card.”
Since Binance doesn’t have a decentralized exchange currently in the works, the present platform is susceptible and centralized to hacks just like many other websites. Therefore, it is recommended to hold funds on the exchange only for as long as required.
Advantages Of Using Binance Cryptocurrency Exchange
- If you are always on the move, the Binance mobile app may be just the thing for you. It is compatible with Android, iOS as well as PC and Mac operating systems, therefore just about anyone can trade or monitor their account from any place.
- Binance provides an extensive selection of tradeable cryptocurrency markets. Since the 01st of May 2019, 467 various markets are supported on this exchange.
- Binance has its own exchange token, BNB, which can be utilized to supplement trading fees as well as advance the overall liquidity on the exchange.
- Binance was a forerunner of the first exchange offerings, and it’s launchpad enables sales once monthly for those who want to be early holders of new tokens.
- A Higher trading volume than most of the alternative cryptocurrency exchanges.