Understanding Why Binance Exchange is a Unique Exchange

Binance is the world’s most prominent crypto exchange, being the biggest platform. This exchange is known to be the largest exchange, due to its impressively high trading volume.

This exchange has been designed to facilitate all interested parties. However, there are a few features and services offered by the exchange that make it stand out among all other trading platforms in the market.

As a new user of the exchange, you need to know about your options so you can take your time and first determine which of the available platforms is the best for you. The best exchange can be categorized as the one that makes crypto investing and trading easier for you and is according to your criteria and trading requirements.

Now, the Binance exchange is one of the best platforms in the world but it is crucial for you to take a look at its features and calculate if it is the kind of exchange you are looking for.

Here are some of the details that can help you understand why this is a unique and outstanding platform.

What to Know About Binance?

This crypto exchange was established in 2017 in Hong Kong. Since then it has grown to become one of the most popular crypto trading platforms in the market. As mentioned above, it is the largest exchange in the world. However, the reasons for its popularity and success are not limited to its trading volume alone.

There are several other features that not only highlights its significance in the market but also makes it one of the top options for many.

This includes offering support to 400+ trading pairs, offering high-end security and more. If you are interested, here is some information you need to know.

User Interface

If you want to know, ‘what is Binance?’ then you should know that it is one of the best exchanges for new and experienced users alike. This exchange has been designed to ensure that all users are able to have a good experience of using it.

This is why, Binance has been designed smartly and has a simple and straightforward interface. It is easy to navigate and all the features have been categorized in a way that makes the users easier to find what they are looking for.

All the orders are also executed quickly and without any kind of interruptions and delays.

Trading Interface

Another major benefit offered by the Binance exchange is its trading interface. This is what makes it even more accessible and approachable for all kinds of traders.

For this purpose and to make spot trading easier, the trading interface is differentiated into two categories that are:

  • Classic
  • Advanced

The classic interface has been designed for people who are new to the crypto space. This interface enables people to make simple and straightforward trades.

The advanced interface, on the other hand, has been designed specifically for experienced traders who want to make complex trades and look for professional trading tools and more.

Feature of Staking

Binance staking is another high-end and unique feature offered by the exchange. This feature is not supported by many platforms, which is why this trading platform stands out.

Staking basically allows people to put the crypto they own in a collective pool or wallet. This allows the crypto owners to get rewards in return.

Staking is also possible only on proof-of-stake blockchains and requires staked tokens to validate the transactions.

Safety and Security of the Exchange

Binance has made its mark in the crypto market for numerous reasons, one of which is its high-end safety and security. In fact, this is one of the safest platforms in the market and ensures the accounts, information and funds of the users are kept safe by making use of cutting-edge security protocols.

Therefore, if you want to know is Binance safe then you should know that it makes use of some of the following safety systems.

  • Cold wallet storage
  • Forensics monitoring
  • Biometric logins
  • Notifications for unusual activity
  • A.I. monitoring
  • Two-factor authentication (2FA) logins

Transparent Fee Structure

The Binance crypto exchange also has another big selling points, which is its fee structure. The fee structure is one of the lowest and transparent and does not include any hidden or additional charges. Not every platform offers a transparent fee structure, which is why this is an impressive platform.

There are no hidden or additional charges included and the details are mentioned as follows:

  • 0.02% to 0.1% trading fee for market makers
  • 0.04% to 0.1% trading fee for market takers

This fee is already one of the lowest but it can be reduced even more if:

  • Users have a VIP level account
  • Users pay the trading fee with BNB tokens

Conclusion!

Binance is one of the most impressive and outstanding crypto platforms in the world and offers some of the best features. As a new user of the exchange, it is important that you take a look at the prominent features mentioned above.

Comments are closed.