Binance Exchange Review – Comparison, Fees and Functions

Binance is not only a relatively new Crypto Exchange, but also is featured to be it’s very own Digital Cryptocurrency known as the BNB token which was part of successful ICO intended to further fund the development of it’s platform.

Technically speaking, Binance is considered to be a Chinese digital asset exchange however it supports a variety of language such as English, Korean, Japanese and Mandarin. While, this particular Exchange is popular among Chinese Investors, majority of it’s users are oversea clients who recognized Binance as more of an International Altcoin exchange

Binance Cryptocurrency Exchange

Name:  Binance
Founded:  2017
Team:  Changpeng Zhao, Roger Wang, James Hofbauer,

Paul Jankunas,  Allan Yan, Sunny Li,

Ranking:

 3

Headquarters:  China
Website:  Click Here
Create Free AccountFee comparison with other exchanges (taker fees)
  • Binance 0.1%
  • Bittrex 0.25%
  • GDAX 0.25%
  • CEX.io 0.25%
  • Kraken 0.26%
  • Poloniex 0.25%

What Binance has to offer?

  • Matching Engine
  • Device compatibility
  • Multilingual
  • Worldwide availability
  • High Liquidity

Matching Engine: Binance is capable of sustaining 1,400,000 orders / second, making
Binance one of the fastest exchanges on the market today. This makes sure that an order never gets stuck due to many orders at a time.

Device Compatibility: I have personally used many cryptocurrency exchanges but none of them provides so much flexibility as Binance does. They are available on probably every possible device which includes:

  1. Website
  2. Android App
  3. iOS App
  4. Mobile HTML5 client (including WeChat H5 client)
  5. PC (Windows)
  6. REST API

Multilingual Support: Binance is available for use in many languages which are English, Spanish, Chinese, Japanese and Korean. This exchange supports the most languages when compared to other exchanges. Also, looking at their continuous efforts, I believe they will add many other languages as well.

Worldwide Availability: Unlike other exchanges which are restricted to the users of certain countries, Binance allows users from all over the world to trade on their platform. This gives Binanc an upper hand over other exchanges.

High Liquidity: Binance is trying to solve one big problem which happens with many exchanges i.e. Liquidity. Binance claims to have a high liquidity thus enabling instant transactions between buyers and sellers.

Binance Exchange Review And How To Use It | Time To Trade Altcoins

 

Create Free AccountInterface

Binance’s trading platform is web-based however features two basic layouts (Basic and Pro View). Casual Traders will certainly enjoy using the Pro Exchange Mode, that provides a more sophisticated trading interface.  Overall Traders can expect a sleek and intuitive UI that conducts, perform and executes Trades in real-time, not like the majority that can’t handle traffic during busy trading sessions.

Binance uses a platform that is capable of processing 1.4 mil orders/second, which makes the platform one of the fastest exchanges in the market. Execute a trade without having to worry about delayed time due to increased traffic

The main dashboard has several charts and graphs including the order books, a candlestick chart, as well as the trade history. There’s also a depth chart of the orders that you can view in a separate tab from the candlestick chart.

Binance Launches PC Client

We are pleased to announce that after 3 months of development and rigorous testing, Binance has launched a PC Client for its exchange platform on Windows. You may use the PC Client to trade using your Binance account and to also observe price movements. To download and install the PC client, please click here.

 Binance Launches PC Client

Supported Crypto Currencies

Binance has often been praised for its wide variety of support coins. Traders can use the platform for multiple digital currencies, including, but not limited to Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, Dash, LiteCoin, NEO, GAS, Zcash, Dash, Ripple and more. As mentioned before, Binance also supports numerous tokens, as part of ICO listings. With this in mind, traders can use the platform to trade these tokens for a profit as well.

Binance Tokens

If you are a big time trader, you can buy some Binance tokens which can be used to pay trading fees at a 50% discount. So if you are really into minimizing your fee charges, simply buy some BNB and use it to pay your fees at an effective rate of .05%.

Bottom Line

Binance offers the lowest multicoin fees in the market by a large margin, an email is all that is required for two bitcoin daily deposit and withdrawal limits, and you can access Binance from web, mobile application, or a downloadable client. Binanc is the go-to exchange for trading cryptoasset crosses as far as we are concerned.

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