Volume 24H: $1,540,181,394
Binance is a multi-coin, multilingual platform for cryptocurrency trading. The Binance engine can process transactions at an incredible rate of 1.4 million orders per second. The platform is adaptable, with both standard and advanced trading modes. There are no deposit fees and trading fees are exceptionally low but fees for withdrawals are higher than average.
Binance offers two platforms for the user: Basic and Advanced. In fact, both are relatively complex and not designed for newbies. The basic platform has a light background and the advanced is black. Otherwise there aren't that many differences. The site design is pleasing but with an overwhelming amount of information on the homepage.
Crypto Currencies Support
- European Union
- Hong Kong
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Russian Federation
- United Kingdom of Great Britain and Northern Ireland
- United States of America
- Web Interface
- Desktop APP
- Mobile App
Stock Market Options
- Allows customization of charts
- Allows Advanced and Basic option
- Limit Order
- Market Order
Binance does not publicly address the matter of security at all. It is unclear how or where they store users' funds and what security measures they have in place. The user is left to assume that the platform is potentially open to a serious security breach. For this reason, Binance may not be suitable for trading large sums of funds.
Binance is run by CEO Changpeng Zhao, who has previously worked for OKCoin, Blockchain.info, and Bloomberg. The rest of the team also has a lot of stock market and cryptocurrency experience. The exchange is quite new. It has only been active a few months, but it has grown rapidly and is often in the news. Team members have a strong online presence, offering interviews and client support.
Binance seems very promising although it's only a few months old. It looks like more features and improvements will be added. The team seems dedicated to making the exchange better. The low trading fees and fast transaction times make it stand out. It is a pure cryptocurrency exchange with no support for traditional currencies. Security may be an issue since they don't seem to address it at all.
The Binance platform covers a huge range of coins, many of which are not well known. It is great for trading in smaller coins, particularly the native Binance coin (BNB). They provide a fee discount if you keep your funds in BNB. Multiple languages and devices (Web, Android, Html5, Wechat, PC) are supported. Fees are quite low compared to other exchanges. Expect more functionality in the future.
Lacking some advanced trading features, some issues with 2 factor authentication or logging in.