Binance is a popular cryptocurrency exchange that offers a platform for trading more than 100 different digital assets. The Malta-based company was founded in 2017 and has quickly become one of the most used exchanges in the world. In this Binance review, we will take a look at the features that make this exchange so popular and give you an overview of what to expect when you use it. We’ll also discuss some of the concerns that have been raised about Binance and how it compares to other exchanges.
As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of the trading volume.
Binance was founded in July 2017 by Changpeng Zhao and Yi He. Binance is headquartered in Malta. Zhao is a former CTO of OKCoin and CEO of another cryptocurrency startup, Blockchain.info. He also worked at Bloomberg as a software developer. He is a graduate of McGill University with a degree in Computer Science. Yi He is also a co-founder of OKCoin and an early investor in Alibaba Group.
The company has raised $10 million in funding from various investors including Sequoia Capital, Goldman Sachs, and Fidelity Investments.
Binance Exchange Pros
Binance exchange is one of the most popular cryptocurrency exchanges. It has a lot of features that make it attractive to users.
Some of the pros of Binance exchange are:
- Security: Binance takes security seriously and employs multiple layers of protection, including 2-factor authentication and advanced encryption technologies.
- Ease of use: The interface is user-friendly and easy to navigate. Even beginners will be able to use it with no problems.
- Low fees: Binance charges very low fees compared to other exchanges. For example, there is no fee for making a deposit, and trading fees are only 0.1%.
- Fast transactions: Transactions on Binance are fast and efficient.
Binance Exchange Cons
There are a few potential drawbacks to using Binance that users should be aware of. First, the exchange is not currently regulated by any financial authorities. This lack of regulation could potentially lead to some security issues, as there is no one overseeing the exchange to make sure that it is operating safely and securely.
Additionally, Binance has been known to be quite volatile, and prices on the exchange can swing wildly from day to day. Finally, there have been reports of customer service issues with Binance in the past. Some users have complained that it can be difficult to get in touch with someone from the company when they need help with their account or have a question about the platform.