Among all the Chinese cryptocurrency exchanges one of the most popular is the Binance. It was started on July, 2017 in China but then moved their headquarters to the Island of Malta in the Europe. They deal with two different types of exchanges including the fiat currency and pure crypto. Though it was launched recently still it managed to focus towards bigger deals and captured a big portion of the crypto exchange market. Two major parameter of Binance popularity are huge list of the coin listed on it and another one is reasonable trading fee. They aim towards a bigger platform as they are crypto to crypto exchange service. They can be termed as New Paradigm Binance as they targeted to play an important role in the global platform of finance. Sign up for Binance Account.
Below is the information that you should know about Binance before using it:
Transaction charges
Presently Binance is trading with 0.1% on each transaction. If an individual is willing to use Binance token then they have an advantage of 25% discount on the exchange fee. Therefore along with this discount, it has proved itself to be an industry with lowest fees. There is no fee on deposit and withdrawal fees are regularly changed according to blockchain conditions still its nominal.
Transaction Limit
The transaction limit for Binance has no limit on the amount of the deposit an individual makes. The easiest way to receive the amount each day is determined with a verification tier. One can receive up to 2 BTC if they have not submitted any verification details. This can be considered as the Level 1 for an unverified account.
To get into the Level 2 one need to clear either two-factor authentication or Google authentication. Presently the two-factor authentication is only available in Chinese number. One can now receive up to 100 BTC at this level. Verification needs filling out a KYC form and submitting proof of identity among other related documents.
Security Support
In this digital currency world, Binance has managed to gain trust from its users as they have newly landed on this market. The security measures have been taken seriously as it didn’t want to lose its ground in this market. It is said to be a platform which has offered multi-tier architecture. The availability of the two-factor authentication has been proven to be a positive sign for security support.
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Customer Support
A great customer support is really needed to make any business successful. A great supporting team must be able to deal with all customer types and problems. Binance’s supporting team is quite supportive and quite responsible for their professionalism. All supports are made via mail. All requests should be made the mail and response to all emails are given is required time.
Binance Mobile App and Desktop Client
One of the best feature which I like about the Binance is the Mobile app, though it is available as Web, Desktop client and Mobile platform. Its very smooth, easy to use app to manage your holdings on the go. Mobile app is available for Android and iOS platform while Desktop client is available for Windows and MAC OS.
ICO and Binance Token (BNB)
They are creating a Decentralized Exchange with the help of Binance Coin. This coin was issued during their own ICO. Binance tokens can be used as a medium to pay charges and become one of the futures best key base currencies. Therefore, in short, we can say that purchasing a Binance coin can be a great advantage in the long run. If we talk about future investment nothing can be better than this.
Cryptocurrency
The Binance platform is very famous for its multi-digital currencies. It is supported by various coins in conjunction with the Bitcoin, BNB, Ether, and Tether trading pairs. Some of the currencies are Bitcoin Cash, Bitcoin Gold, Ethereum, LiteCoin, Ripple and many more. As listed by ICO it has clearly mentioned that Binance is supported by many tokens helping the traders towards a profitable future. You may get more into about the future/new coin listing on Binance.
Conclusion
If we look the ultimatum we will realize that it’s new in the marking and in the run to gain more trust from the users. It is improving in giving great offers to the users in the digital ground. As the customer support is quite well in return profit in the currency is mandatory for this platform. Procedure towards security is leading to the success story now. Hope you enjouyed this article on Binance Review. Please share your view and experience with this platform in the comment section below.
