Binance is a broker specializing in cryptocurrencies. It provides a quality exchange platform that today brings together a very large community. Is it truly a trusted crypto platform?

What is Binance?

Binance broker or crypto exchange platforms was founded in July 2017 and was created by Chang Peng Zhao, a Chinese crypto enthusiast. Despite its recent arrival on the market, Binance offers more than 300 cryptocurrencies on its trading platform. It is available in more than 50 countries worldwide, including France, the Czech Republic, Malta, Norway, Russia and even Germany. When it comes to crypto exchange, it is one of the top-notch platforms, putting aside recent Binace abnormality.

Cryptocurrencies available on the Binance platform

Its operation is similar to that of more general brokers. The only difference is that it only focuses on the cryptocurrency market. Binance brings together more than 300 different cryptocurrencies, and you can find the most popular such as:

• Bitcoin (BTC),
• Ethereum (ETH),
• Ethereum Classic (ETC),
• Litecoin (LTC),
• Ripple (XRP),
• Binance Coin (BNB),
• EOS,
• Dash,
• Tron (TRX),

and many others.

How to buy and trade on Binance?

Binance is relatively easy to use and has a fairly well-optimized platform. If you want to buy a cryptocurrency like Bitcoin, you just need to follow the following steps:

• Open a Binance account.
• Make the first deposit of a minimum of $ 10.
• Go to the main page. You will find all the crypto-currencies. Click on the “Buy Now” button in front of the Bitcoin.
• Confirm the operation and accept the terms of use.
• Complete the transaction by making the payment.

If you want to exchange cryptocurrency for Bitcoin, you just need to follow the following steps:

• Go to your Binance account.
• Click on your balance.
• Choose the cryptocurrency you want to exchange.
• Click on the “Trade” button.
• Then on “Sell” to finalize the operation.

Once you have sold the cryptocurrency, you will be able to purchase Bitcoin.

The fees and commissions applied on Binance.

When it comes to fees, Binance doesn’t charge any when it comes to depositing and withdrawing cryptocurrencies. The platform, therefore, only charges a commission for exchanges made on the site. This is equivalent to 0.1% of the amount exchanged depending on the cryptocurrency chosen. However, if you use Binance tokens (BNB Token), you will be taken 0.5% commission.

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Binance is also available in a nomadic version via a mobile application. This is available in iOS and Android versions. An advantage for traders regularly on the move or more adept of mobile and tablet versions.

It is relatively well optimized and gives access to all your positions taken on the platform. You will also find all the features available on the main site.

Is Binance Customer Service Worth It?

Binance customer service can be reached by live chat, email address and phone number. It’s available 24/7 and is known to be quite responsive.

The security was put in place at the Binance broker.

The security put on the Binance platform is quite good, and no reports of vulnerabilities  since its inception. The protocol is fairly simple, but you will still find a two-factor authentication system.

Can we have an e-wallet on Binance?

Unfortunately, the Binance broker does not offer a wallet to store cryptocurrencies. The platform links only to your personal wallet present on your Binance account.

In Conclusion

In general, Binance is a good cryptocurrency exchange. If you are not a newbie trader and know exactly what you are looking for. It is also a very useful broker if you only want the essentials of a platform. Here you will not find advanced trading tools.

If you are a newbie or even an experienced trader looking for a comprehensive platform with lots of trading tools and signals as well as online training.