On a daily basis, millions of users trade the largest selection of cryptocurrencies that you will find anywhere online today.
With a beginner-friendly, easy to use website, anybody with an internet connection can be up and running in a matter of minutes; all it takes is the will to learn.
Why Trade on Binance?
More than 500 different cryptocurrencies:Binance offers access to an incredible 500+ cryptocurrencies. Whether you’re into Bitcoin and Ethereum, or prefer to invest in lesser known altcoins, the chances are that you will find exactly what you’re looking for.
Great trading software:
Binance has pulled a masterstroke in making their software suitable for the full range of experience levels. It doesn’t matter whether you’re a green novice or have many year’s experience in the world of finance, you will soon be able to find your way around.
To make matters easier the software has both a basic and advanced setting. For new traders it is easy to become overwhelmed when bombarded with too much information, leading to frustration and a less clear view of what the situation really looks like. Beginners should always start with the basic setting.
Traders who prefer to work from a smartphone app also have access to mobile software for both Android and iOS. Binance Lite is a watered down version and Binance Pro offers many advanced features and trading tools. With more than 10 million downloads and a 4.4 star rating you can be sure that the Binance software is as good as you will find.
Peer-to-peer service:
Users are able to trade directly with each other where they get to agree the terms themselves. The idea of cutting out the middleman will be attractive to many investors.
Loans:
Binance offers a short term loan service for its users over periods of 7, 14, 30, 90 and 180 days. Interest is charged at a rate of 0.04% per day.
Trade with leverage on futures and derivatives:
There’s more to Binance than simply buying the occasional cryptocurrency and holding in the hope it increases in value.. For some trading pairs, users are able to take part in margin trading where leverage is used to increase the possible gains. Of course, this increased volatility comes with added risk and this type of trading should not be undertaken by the inexperienced.
The Binance futures feature allows users to speculate on the future price of cryptocurrencies without actually purchasing the asset. This uses a different interface which allows the user to open positions and control leverage. This is also a more advanced form of trading that is not recommended for beginners.
Low fees:
Binance is known for its incredibly low fees. Additional charges are one reason why financial trading is such a difficult proposition to begin with.
To deposit cryptocurrency costs absolutely nothing and there is only a small fee to withdraw depending on what the coin is.
General trading fees to buy and sell cryptocurrency starts at a tiny 0.1% upon which you can even grind down to 0.075% by using Binance’s own altcoin (BNB). Large volume traders are eligible for further discounts.
NFT marketplace:
The new NFT marketplace is a great opportunity to get involved in this latest craze. Not only can you buy and sell NFTs but you can also mint your own and seek out a buyer.
Our Verdict
Binance is a suitable trading platform for just about anybody with an interest in the financial field. It has been built with every kind of customer in mind. With its extensive selection of cryptocurrencies they are also unrivaled when it comes to choice.The only gripe we could find was that there is still no live chat facility. In modern day customer service this is something that many prospective customers will refuse to overlook.
Overall, we think that Binance still keeps its crown as king of the crypto trading platforms.
