If you are already familiar with cryptocurrencies, you have almost certainly heard of Binance. It is the largest exchange by trading volume of digital assets in the world. But Binance’s capabilities aren’t limited to trading at all, and that’s really cool. This exchange was founded in 2017. It features low commissions, support for the most popular cryptocurrencies, and cutting-edge products, making it a market leader.
In this post, we will break down the pros and cons of this exchange. But before we start, we would like to advise you on one service that you will really appreciate if you consider yourself a crypto enthusiast. We are now talking about this Bitcoin mixer. It’s such a great site that allows you to become completely anonymous in the world of cryptocurrency.
You’re probably going to wonder along the lines of “Is cryptocurrencies mixing legal?” Yes, it’s totally legal. You can use this blender and enjoy low commissions and great service. Well, now we will proceed with a more detailed review of Binance. Let’s start by discussing the pros and cons.
The strengths of Binance are:
- Large selection of cryptocurrencies – Binance allows you to trade more than 170 different cryptocurrencies. This makes it possible to diversify investments in order to reduce risks. Also thanks to the significant choice, there is a chance to make good money on not yet promoted digital currencies.
- Insignificant commissions – the commission on Binance is less than 1%. Moreover, there is also an opportunity to reduce even such a small commission, for example, with the help of a referral program.
- High liquidity – even with exotic cryptocurrency pairs transactions are made quickly, and popular digital currencies are sold and bought instantly.
- High level of security – Binance uses cryptographic data protection and applies a control system based on artificial intelligence. On this exchange, you can undergo a two-step verification, as well as connect a special code that will suppress any attempts to visit a phishing site.
But Binance, for all its awesomeness, has its weaknesses. Here they are:
- Occasional outages – sometimes, you may notice that Binance slows down. Of course, this happens rarely, and the absolute majority of cryptocurrency exchanges face a similar problem, but we could not help noting this point. In any case, the exchange quickly enough solves this issue and restores the previous performance.
- Restrictions on withdrawals for anonymous users – if the client is not verified, he can withdraw a maximum of two bitcoins per day. At the same time, the withdrawal time also increases. The user will have to prove his identity to be able to withdraw up to 100 BTC per day.
How to withdraw money from Binance?
Perhaps, this is one of the most pressing questions. The vast majority of users interact with cryptocurrency exchanges because they want to make money. It is recommended to withdraw the money earned from trading or investing from Binance, as no centralized exchange is 100% reliable. Not even Binance. It is better to control your own money in your personal wallet.
You can withdraw money from Binance in the following ways:
- To a VISA or Mastercard.
- To an AdvCash payment system
- To a Payeer payment system.
In spite of the wide range of possibilities presented on Binance, understanding it is not so difficult: it is promoted by the convenient and logical interface, competent technical support, and a large number of help materials in text and video format. Some of the guys on our team are using Binance, and they say it’s a really good exchange. So why don’t you try it too?