Binance is a cryptocurrency exchange. Recently it has become the largest cryptocurrency exchange in the whole world. Binance – The Best Cryptocurrency Exchange
- Low fees for trading a large number of cryptocurrencies
- Frequently adds new coins and trading pairs
- Highest volume exchange, so good liquidity
- Customer support has slow response times
- Website can be somewhat laggy
Where is Binance Located?
Binance was initially based in Hong Kong and then moved to Tokyo. Now is Malta
Limits And Liquidity:
There are no deposit limits for Binance.
If you are not verified, you can only withdrawal 2 BTC per 24 hours.
If you submit verification documents you can raise the limit to 100 BTC per 24 hours.
Privacy: Binance offers good privacy for its users. Only an email address is required to sign up and start trading.
Deposit and withdrawals: Binance has good speed. You can sign up and deposit instantly.
Fees: Binance charges 0.1% on all trades. If you choose to pay fees using BNB, Binance’s own coin, you can get a 50% discount. This makes the fees when using BNB just 0.05% per trade, which are some of the lowest in the world.
Binance Security – Can You Keep Coins on Binance?
You techincally can store coins on Binance however this is not recommended. If Binance gets hacked, you will lose money. Also, your own account can be hacked if someone figures out your password and logs in to withdrawal your funds.
Store your coins on a hardware wallet like the Ledger Nano S and only deposit to Binance when you want to make a trade.
Customer Support: The main issue with Binance is its customer support. There are many people reporting that they are not receiving answers.