As the world’s largest cryptocurrency trading platform, Binance has become a household name in the world of cryptocurrency trading. With a robust selection of trading options and features, Binance is the go-to platform for experienced traders. In this article, we’ll take an in-depth look at Binance and why it’s the best cryptocurrency exchange for experienced traders.
Company Overview
Binance was founded in 2017 by software developer Changpeng Zhao. It’s a decentralized crypto exchange that was originally based in China. Since its launch, Binance has become the world’s largest cryptocurrency exchange in terms of trading volume.
Cryptocurrencies
One of the main reasons why experienced traders choose Binance is because of its wide range of cryptocurrencies. Binance offers more than 150 tradable coins for U.S. customers and even more for those outside the United States. This gives crypto traders and investors many options to choose from.
Trading Experience
Binance offers a wide array of trading features, including an impressive selection of market charts and hundreds of cryptocurrencies. Users can also access a variety of trading options including futures and options, as well as several order types. However, many options and features are not available in the United States, and only 150 of the cryptocurrencies are accessible to U.S. customers.
Fees
Another reason why experienced traders choose Binance is because of its low fees. The platform offers low fees, meaning traders get to keep more of their investments and earnings. This is a huge advantage for traders who want to maximize their profits.
Security
Binance takes security very seriously. It offers several security features to protect user accounts, such as two-factor authentication and email verification. Additionally, Binance keeps the majority of its funds in cold storage to protect against hacks and cyber attacks.
Opening An Account
Opening an account on Binance is a straightforward process. Users simply need to provide their email address and create a password. However, depending on the user’s location, they may need to go through a verification process to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
Customer Service
Binance offers excellent customer service through its support center. Users can submit a request or browse the help center for answers to frequently asked questions. Additionally, Binance offers 24/7 customer support through its live chat feature.
Competition
While Binance is a top contender in the world of cryptocurrency exchanges, it does face competition from other platforms such as Coinbase, Kraken, and Gemini. However, Binance’s wide range of cryptocurrencies and low fees give it a significant advantage over its competitors.
Final Verdict
Overall, Binance is the best cryptocurrency exchange for experienced traders. With its wide range of cryptocurrencies, low fees, and robust trading features, Binance offers everything experienced traders need to succeed.