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Binance Review

Binance

www.binance.com

(18 reviews)
Site Rank: 1

Binance is the most popular cryptocurrency exchange. Binance currently supports a wide variety of crypto-to-crypto trading and plan to support fiat currency trading in the future. They have their own native token, BNB, that traders can use to avail of a 50% reduction in fees. The exchange was launched in 2017 and rapidly grew to become the world's largest exchange. The development of the exchange was funded via an ICO where BNB was the token. The exchange is available in multiple languages.

There are no fees for depositing to Binance. The standard trading fee is 0.1%. However, if a user holds BNB they will avail of lower fees. They will receive a 50% reduction in the first year, 25% in the second year, 12.5% in the third year, 6.75% in the fourth year, and no reduction in the final year. Crypto trading pairs available on the exchange include trading against Bitcoin, Ethereum, BNB, and USDT. The exchange currently has over 150 cryptocurrencies which can be traded against Bitcoin. Users can enable two-factor authentication on their accounts for an extra level of security.

In terms of security, any issues which have been faced have been dealt with effectively and promptly by the team. There have been some issues which have arisen with accounts but no user has been hacked.

Pros & Cons
  • Most popular crypto-to-crypto exchange
  • Over 150 pairs available to trade against Bitcoin
  • Low fees
  • A native token which enables users to avail of lower fees
  • Users can enable two-factor authentication
  • The exchange is available in multiple languages
  • No fiat currency supported currently
  • Only established since 2017