Hi it’s Unicorn

 

Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded  by Changpeng Zhao in 2017. Binance was initially based in China, but later moved its headquarters to the Cayman Islands due to China's increasing regulation of cryptocurrency. Binance is currently the largest exchange in the world in terms of daily trading volume.

 

Pros and Cons of Binance

 

Pros

 

1.Support multiple cryptocurrencies

 

There are hundreds of cryptocurrencies that can be traded on Binance, such as Bitcoin, Ethereum and other well-known cryptocurrencies, and even ZCoin (XZC) also can be traded. Friendly reminder, we advised you do not trade unknown cryptocurrencies before you did sufficient research. 

Source : Binance

 

2. High liquidity

 

The trading volume is larger than other exchanges, which means that the cryptocurrency flow rate here is better, and the trading will be more successful. If the transaction volume is small, it will be difficult to buy a cryptocurrency. It’s better to choose a large platform. 

 

3. Low fees

 

The handling fee is lower than other exchanges. The trading of cryptocurrency only charges less than 0.1% (the rate depends on the currency and method). If you use the platform currency (BNB), you will even enjoy additional transaction discounts.

 

4. Provide ICO

 

Binance provides ICO services. You can buy and sell many newly launched cryptocurrencies on the platform.

 

Cons

 

1. Weak customer support

 

There is no telephone customer service on Binance currently, but they provide online customer service with multilingual support. 

 

 

Cryptocurrencies supported by Binance

 

Binance is a cryptocurrency exchange with the largest trading volume. The common cryptocurrencies are basically supported. There are more than 100 cryptocurrencies that can be traded on the Binance exchange. Below is the common cryptocurrencies:

 

Bitcoin (BTC)

Ethereum (ETH)

XRP (XRP)

Bitcoin Cash (BCH)

Litecoin (LTC)

 

Source : Binance

 

Buy and sell on Binance

 

Binance provides more than 100 cryptocurrencies on the platform. Its trading volume has been the top one of cryptocurrency exchange in the world. In September 2019, the exchange began offering perpetual futures contracts, allowing leverage as high as 125 times the value of the contracts. This means that a trader's profit (or loss) can be multiplied by 125 times, more than other platform. (Leveraged trading is extremely risky, so you need to pay attention to the risks.) Because of high volatility, Cryptocurrency is a high risk investment. Investors who want to buy and sell cryptocurrencies should have sufficient knowledge, understand the risks of various trading, and do well on account security management.