What Is Binance?

Many people who are fond of trading or dealing with cryptocurrencies flock to an exchange called Binance, and it currently sits in the top 20 most popular exchange by volume. Probably the main reason for Binance’s popularity is its extremely low fees of 0.1% as well as its fast transaction speed. With the technology at its current rate, it is able to process 1.4 million orders a second, which is incredibly fast and it is easy to see why Binance is one of the most popular exchanges available to us today.

Some of the features that make Binance so powerful and popular include things like:

• Safety and Security: Binance utilizes a multi-tier as well as a multi-cluster system.
• Support multiple devices: In order to generate as many active users on their platform, Binance needs to be able to support multiple devices like Android and HTML5.
• Powerful performance: As mentioned above, Binance is fully capable of processing nearly 1.5 million orders a second.
• Language Support: Being a large exchange with thousands of users, it is important to accommodate as many people as possible, and this means support multiple languages for non English speakers.
• Headstrong team: The leader of Binance is someone who has an extensive knowledge of the workings of Wall Street as well as cryptocurrencies. And just to add too his already impressive resume, he has a good track record of successful startups.

What Is An Important Aspect And How To Verify It?

An important aspect to remember when dealing with money, is security, and Binance certainly takes it seriously. There are 3 verification levels that are available in Binance, and these levels help reduce the risk of sabotage and breaches, as well as withdrawal limits for accounts. When you first create your account, you’ll be hit with a 24 hour withdrawal limit of 2 BTC, once you pass the second tier of security, you will be allowed withdraw up to 100 BTC. However, the third tier requires you to contact a representative of Binance and have your account reviewed in order to withdraw more than 100 BTC.

Binance uses Google Authentication when attempting to sign in, as this is a huge security improvement. It works by a user downloading the Google Auth app, and linking their Binance account to the app, and when a user attempts to sign into their account they will need to open the Auth app and enter in a series of numbers. If these number match, then you will be able to successfully login.

What Options Can Help You Trade A List Of Cryptocurrencies?

Once you’re in on Binance you will now be able to trade an endless list of cryptocurrencies. You have two options, one is the Basic tab, and the other being the Advanced option, though we recommend sticking with the basic tab for ease of use. To go to the Basic exchange platform, you simply login and navigate to the upper left-hand corner of the header bar. Then you’ll be shown with a typical layout of a trading screen, which includes a live chart showing a crypto-pair, usually in the form of candlesticks as they are the easiest to read.

Buy Or Sell An Order With Binance Trading Exchange

When you want to buy or sell an order, you just head to central area of the page underneath the chart, and you are freely available to change the amount of bitcoins that you wish to invest or trade with. Once you have selected the amount of bitcoin you wish to trade with, you can then proceed to select which cryptocurrency you wish to exchange. Once you make the trade, you can then scroll further down the page to see your open orders.

Binance BNB Conclusion

In conclusion, Binance is a reputable cryptocurrency exchange, which is known for its rapid processing speeds and the ability to process a large quantity of transactions in a very short space of time. It’s probably the best exchange out there to date, and I know of no other platform that offers the same level of speed and agility. However, I would recommend conducting a high level of research into cryptocurrencies before you start to invest or trade them, these markets are extremely volatile and are subject to extreme price movements that aren’t even seen in the forex market.