Understanding the Binance Cryptocurrency Exchange
Binance can be really a Cryptocurrency market and wallet. They’re among the highest deals for trading altcoins, also have low prices, and so were the number only exchange for Bitcoin by bulk at the time of 2018.
TIP: Binance obstructed the US in September, 2019. Adhering to a blocking they started Binance.us. US taxpayers will currently utilize Binance.us in the majority of states. For individuals in countries that may ‘t use Binance, tryKraken, Coinbase Pro, or Bittrex as an alternative.
Bottomline:Binance is a popular low fee altcoin exchange. They offer a wide array of coins and are often more generous with perks than other exchanges.
Sign up for Binance via our Affiliate link: Use our affiliate link to sign up for Binance today:https://www.binance.com/?ref=35633776, or simply go to Binance.com and click the register button. Either method has the exact similarly effect, the difference is whether Binance offers us a kickback when you trade or not.
TIP: If you hold Binance Coin (BNB) you will have money on trading fees at Binance. BNB is has been one of the top performing crypto stocks after all Binance launched. So thus far it has been a decent hold for those who wanted to save on trading fees.
How to convert dollars to crypto for Binance:Binance is kicked it up a notch in 2019. Binance users can now use dollars, credit cards, and debit cards in some regions and with some card providers. If you can’t utilize dollars on Binance, consider becoming a member of Coinbase, purchasing Bitcoin or even Ether there, and sending your Bitcoin or even Ether into Binance to trade alts.
UPDATE: You can now make use of a creditcard to purchase crypto around Binance.
The Pros and Cons of Binance
As noted above, Binance is currently among the very well-known exchanges on the planet within 2019.
One sense it’s popular is because it’s a international market with a massive assortment of altcoins.
Another sense it is popular is because Binance comes with a fantastic standing, very reduced prices (the smallest of any significant alt coin market ), also generally offers perks additional exchanges don’t (for example you’ll sometimes obtain forked coins after they fork andyou obtain GAS for holding NEO on Binance).
Another sense it is popular is because they have a generous referral program which incentives people around the world to shill Binance on the internet (see the affiliate links above for an example).
Since Binance has a very large user base and high volume, they generally have smaller “spreads” and better “liquidity” than other exchanges (meaning it is easier to purchase or sell a coin at store amount when the time comes due to there being more orders on the books).
Thus, in short, the sense we are praising Binance and are comfortable shilling Binance, is because it is a good choice for an altcoin exchangewith a good reputation here in 2018 (i.e., the affiliate program is just icing on the cake).
With that said, you probably want to know more than just a few selling points, and the reality is one always has to take into account risks.
One general risk is that Binance is a new exchange. They opened their doors in 2017. That means that unlike some other exchanges, they don’t have a lengthy list of success supporting them.
Another probability of forms, for U.S. users partially, is that Binance isn’t just a U.S.-based exchange. The market was established in Tokyo (because their CEO was formerly engaged with stocks and crypto stores in Japan), but is based in Malta as a result of Malta embracing Cryptocurrency.
That isn’t a pro or con specifically, it is just another factor that should be considered (if you want a U.S. exchange with a solid selection of altcoins, try Bittrex).
All that said, Binance is a top exchange with a good track record and low fees that offers many cryptos and a range of trading pairs (and sometimes even offers futures on forks)… and that is hard to beat.
There are a lot of reasons to choose Binance as your primary crypto exchange. Just remember, there are always profits and risks to weight against each other! To be on the safe side, never leave too a lot of money on a single exchange and always enable two-factor authentication.
NOTE: Like with any exchange, to trade you’ll need to obtain verified. That means giving some personal information and proof of identification. There is no way around that. It is the similarly for any exchange you use. Always use crypto exchanges at your own risk!
TIP: If you feel nervous about using a foreign exchange, try following Binance on Twitteror obtain to know “right down to ground Chinese-Canadian billionaire” Binance CEOChangpeng Zhao AKA “CZ” (see his Wiki page or follow him onTwitter).
“Binance” contains information about the following Cryptocurrencies:
Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), NEO