Binance

Binance exchange review

Binance Review

Binance is a cryptocurrency exchange market that stationed in Hong Kong and led by Changpeng Zhao. It was recently established and quickly became one of the largest exchange in the world.

PROS


  • One of the highest volume and liquidity exchanges
  • Users may request to add other alternative coins and wide selection of coins
  • One of the exchange that provide lowest transaction fees

CONS


  • Customer support are somewhat slightly slow
  • Website is quite congested which result in minor lags on low-end devices

Payment Methods

Binance only provide full cryptocurrency exchange which means ONLY cryptocurrencies are accepted as medium of exchange. Credit/debit card and real currency transfers payment options are not available on Binance.

Thus users would have to purchase their own cryptocurrencies from other exchanges before proceeding for exchange on Binance.

Supported Country

Binance covers any user from any countries available.

Privacy

Binance’s take on users privacy is considerably high.Basic users are only required to sign up using email address to start trading which suitable for small traders who trades in very small amount. However it is advisable to verify the account for further limit upgrade. A Step-to-step registration guide is provided here .

Limits and Liquidity

Binance does not have a limited deposit for users. For exchanges, users will be required for full verification for bigger amount of exchanges.

Basic

  • Only email are required for registration
  • Only 2 Bitcoin withdrawal are allowed daily
  • Suitable for small traders with smaller exchange value

Verified

  • Personal details such as full name as per ID
  • Picture of ID card and a selfie with your ID card
  • Suitable for long term traders who trades in big volume
  • Withdrawal up to 100 Bitcoin are allowed daily

Transaction speed

Binance is considerably fast on transaction. Users can sign up, deposit and trade with minimum delay.

Reputation

Binance is currently one of the largest cryptocurrency exchange based on trading volume available. It was also led by one Changpeng Zhao , who is well-known in cryptocurrency space.

Fees

When compared with other exchanges , Binance only charges 0.1% for any type of coin trades which considerably low.

Meanwhile, exchanging using Binance’s own cryptocurrency which is “BNB” ,  will eligible for 50% discount, charging only 0.05% on fees.

Customer Support

Binance provides ticketing support for its users as well a knowledge base for FAQ.

However there are reports by users where ticketing support are slightly slow in response.

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  1. Kevin

    Good exchange. Recommended!

    Reply

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