Unlike earlier times, cryptocurrency has made a particular meaning along with the Binance, which is believed to be the perfect choice for the cryptocurrency users. As there are lots of choices for the users, it is a bit hard to find the best match for your needs. Unless you make the right choice, you will have to face many difficulties with the choice you have taken. Binance is a popular name for both veteran and novice cryptocurrency users in the world. Even though it is not the only name for cryptocurrency, most of the users have used to refer this platform to trade their digital currencies.

What to consider when selecting a cryptocurrency platform

There are a few things you need to worry about when selecting the best cryptocurrency exchange platform for you. Though the purpose of you can be varied, the result or the outcome can be the same given by different cryptocurrency exchange platforms.

Fee

This is one of the most primitive factors that should be kept in your mind. You have to make sure that you are all aware of the charges of the selected platform before you sign-up. Ther can be hidden charges that you need to be aware of that may cause future trouble for you. Binance is way ahead when considering this factor.

Security

You need to know that these platforms require higher security than other services when making an exchange. Because it’s all about the currency. Different platforms ask for different sorts of verification when setting up the accounts. Whatever they require, you must make sure to verify your privacy securely.

Region

Particular regions in the world require different platforms.  For example, some platforms don’t have the compatibility to work in Asian countries while the same platforms support the African countries. You need to have a thorough understanding of the geographical region as well.

Exchange Rates

Exchange rates are not the same on each platform though they provide similar services. If you are wise enough to understand the rates, you will be able to have a fair exchange in the end.

Reputation

Keeping stability in the exchange platforms is a bit hard thing. Even if it is about the top-ranked platforms, there will be up and downs indeed. But, Binance like platforms always tries to maintain their title in the field. If you conduct a background test, you will be able to find the highest ranked platform as well.

Why Binance?

Even though Binance has not got a long history in the field, it has been able to grab the users within a short time. That platform is having all the qualities of platforms that require the above qualities. Binance Exchange was commenced in China in 2017 and then moved to Malta to serve European countries, since then, Binance has been one of the leading caretaking platforms for the users who wish to exchange their digital currencies.  Here are a few initial things you need to know of this world’s leading crypto exchange platform.

How it works

There will be two options for you if you visit the Binance platform for the first time.  Those options are consisted of basic and advanced.

Neither Basic nor Advanced options can be used for the complete users unless they have a bit of knowledge of Cryptocurrency Exchange.  This is not just a common thing for Binance but all platforms.  You need to have a wide knowledge to get the full use of the services provided by Binance.  However, advanced mode leaves you to have a depth analysis of digital currency.  The basic view lets you have several graphs and it is being displayed in a white background while a dark theme is used in the advanced view.  Whatever the option you use, you will be able to get to a long distance with the option you have selected.

How to join

Binance users have to create an account to go along in the platform. It is as easy as creating an email account. There are different levels for a user and you will know them better the more you use Binance.  It is not required to verify your identity as a level 01 account as the limit for the exchange is 2BTC.  If you want to extend the limit as a level 02 account holder, you will have to go for higher security clearance. Uploading a selfie photo will be quite sufficient if you are satisfied with that.  The maximum amount that can be withdrawn is 100BTC.  The time duration that takes to verify your security can be varied according to time, date, and the availability of the assistance of the staff. Setting up the account a bit earlier can save the waiting time as well. It requires some funds to make transactions and you will have to fund the Binance account before that.  Joining is not just a simple step as it is an entire process that requires lots of time. Keeping an idea of the whole process will leave maximum security for you as well.

Is Binance Safe?

As the latest member of digital cryptocurrency exchange, Binance has been able to capture the trust of the users in a short time of period.  The two-factor verification has enabled high security in transactions.

The best example for their high security is the hacker attempt in 2017. Those hackers have tried to steal data and that has been overcome by the Binance Automated Security System. It has passed few years since that incident and we can believe that they have improved their security within this time.

Customer Assistance

Digital Currency Exchange requires a load of staff assistance to complete the process. It is not just a thing for Binance platform, but all similar platforms.  There is a ticketing system that can be submitted online and the team is much responsive in the system as well.  They are capable of answering all your problems in a particular way which lets you feel it is a face to face conversation.

The world’s first decentralized stock exchange

The latest news states that Binance is joining with Neufund to provide a decentralized service to the customers. It is considered as the world’s first Decentralised Stock Exchange.  They are planning to extend their services with crypto-assets.

Binance, always and anywhere

Binance has been introduced for mobiles, desktops, and API which allow the users to use different kinds of sources.  Binance crypto exchange is available for Android devices, MAC, Windows computers, and API with the 100% functionality.  If you are a busy person, these solutions will assist you with these services.

Conclusion

Binance doesn’t have a long history in the field. But, they have proved several times that they are the best and innovative platform in the field. The decentralized effort is such an example of that. If the security is a measure, they have withstood against an attack and have been able to face it firmly. First, they were in China for a small-time period and now they are in Malta. Their effort to be established in New Jersey shows how strong and confident they are in the crypto exchange field among other competing parties. If you want to give it a try, that will be a worthy try for sure.

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