binance theta token

Binance is a cryptocurrency exchange that’s been gaining momentum over the past few months. Here’s our Binance review.

What Is Binance?

Binance, found online at Binance.com, is a popular cryptocurrency exchange currently sitting in the top 20 exchanges by volume.

The exchange has particularly strong volume in pairs like NEO/BTC, GAS/BTC, ETH/BTC, and BNB/BTC. BNB is the exchange’s homegrown currency called Binance Coin.

Binance is known for its low trading fees (0.1%) as well as its fast transaction processing. The Binance technology is capable of processing 1.4 million orders each second, making it a world leader in potential exchange volume. At the time of writing, Binance was sitting in the #17 spot in terms of 24 hour trading volume.

Binance Features

Like most cryptocurrency exchanges, Binance promises to offer strong security, usability, and performance. Here are some of the exchange’s advertised features:

  • Safety and Stability: Binance uses a multi-tier and multi-cluster system architecture.
  • Multi-Device Support: Binance supports web browsers, Android, HTML5, WeChat, and other platforms.
  • High Performance: Binance can process 1.4 million orders each second.
  • Multi-Language Support: Binance supports Chinese, English, Japanese, and Korean.
  • High Liquidity: Binance offers strong liquidity in a number of cryptocurrency pairs.
  • Multiple Coin Support: Binance accepts trades in a variety of coins, including BTC, ETH, LTC, and BNB.
  • Strong Team: Binance is led by Changpeng Zhao. Overall, the company claims its team has deep experience in both Wall Street and crypto finance, along with a track record of successful startups.
  • Proven Products: The underlying Binance platform has been deployed on 30+ exchanges already. The platform supports all devices and multiple languages, offering a seamless user experience.
  • Superior Technology: Binance uses a certified matching engine capable of processing 1.4 million orders per second, “making Binance one of the fastest exchange in the market today” [sic], explains the official website.

Binance Fees

Here are some of the notable Binance fees you need to know about:

Deposits: Free

Trading: 0.1% trading fee (if you have BNB, you can choose BNB to deduct a 50% trading fee temporarily)

  • BNB Withdrawals: 1 BNB
  • BTC Withdrawals: 0.0005 BTC
  • ETH Withdrawals: 0.005 ETH
  • LTC Withdrawals: 0.001 LTC
  • NEO Withdrawals: Free
  • QTUM Withdrawals: 0.1 QTUM
  • SNT Withdrawals: 1 SNT
  • EOS Withdrawals: 0.1 EOS
  • GAS Withdrawals: Free
  • BTM Withdrawals: 1 BTM
  • BCC/BCH Withdrawals: To be confirmed

About Binance

Binance is based in Shanghai. The exchange is led by Changpeng Zhao and his company Beiji Technology. The exchange is best known for its fast processing speeds.

In August 2017, the exchange announced that Yi He, co-founder of OKCoin, was joining the platform. Yi He is also known for being a renowned cryptocurrency evangelist. She’s one of the most respected and influential individuals in China’s online economy. After leaving OKCoin at the end of 2015, Yi He joined Yixia Technology as their Vice President. She later launched Yi Zhi Bo, a China-based broadcasting platform that exploded with growth in 2016.

Many investors have taken a closer look at Binance since Yi He joined, and the value of Binance Coin has risen by 40% at the time of writing.

Binance Conclusion

Binance is a cryptocurrency exchange known for its fast processing speeds and ability to process an enormous number of transactions (1.4 million) each second. It’s been quickly gaining ground in cryptocurrency market share, and currently sits at the number 17 spot in terms of 24 hour trading volume.

You can learn more about Binance and its low fee trading structure by visiting the organization online today at Binance.com.

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14 COMMENTS

  1. I needed this cryptocurrency exchange because they have ethos (before bqx). It is way better then some other exchanges on the one hand and also simple and easy in use to trade. They are also connected with coinigy which has way better charts on which you can follow up your balances via their website (coinigy.com). But unfortunately it is not possible to trade via Coinigy YET. hopefully this will be possible in future, this way, Binance.com will be a much better exchange. I am sure it will find it’s place in the markets.

  2. I didn’t realize this is a Chinese exchange until I saw some Chinese on my apps. If anyone trust them enough to put your life on, I wish you luck. I am sure it works just fine on a normal day, but hold on to your pants when it start raining. I am running.

    • This is one of the best exchanges I have found > .. I have like 4 different exchange accounts. and by far this is the best I have experience. Their trades are pretty fast and stable. The longest Ive had to wait is 5 hr delay on a transfer. Considering they are in China, their security is strong and they follow KYC regulation like Americans. I had to insert drivers license and everything. No one exchange is perfect. Most of them cant keep up with the volume of new registrants every day. So in general and by far, my experience with them is top notch. All my trades have executed fast. I am a swing trader and their low fees are good and they have many many pairs for trade. Pretty awesome exchange in my opinion.

  3. I have been using binance to buy altcoins for a few months now.
    PROS

    – Some of the lowest fees around. 0.1% per trade and 0.05% if you use the binance (bnb) token. There is no fee to deposit crypto.
    – Unverified users can deposit/withdrawal up to 2 BTC per 24 hours. (im yet to hit this amount sadly)
    – 80+ different coins/tokens. Many are only available at binance which is why I started trading there.

    CONS

    – Crypto only, So you cant deposit FIAT. If only coinbase was 0.5% to deposit.
    – Trading screen layout is not the best and the charts are hard to read. I could see it being abit confusing for a beginner.
    – Although i haven’t needed it, a quick online search shows Customer support can be slow to respond. This is likely due to the huge explosion in numbers
    – Established 2017 so doesn’t have the track record in security that established exchanges enjoy.

    Summary

    Definitely worth a look if you are a high volume trader as fees are among the lowest I have seen. Also worth while if you want altcoins that aren’t available elsewhere.
    I always recommend not keeping coins on an exchange and Binance as a new exchange is no exception.

  4. Hello Everyone! I see alot of people here are experiencing issues with binance mainly because they dont know the work around for fee’s or maybe they just dont know how the site works. 2018 is going to be a big year for the Crypto world so if you havent started yet you need to! Good luck out there everyone!

  5. Binance is a great platform and I’ve been using it for some time now and have no come by any problems or issues. Its is simple and its fees are reasonable and cheap and for an exchange/wallet it has a decent referral program.

  6. BEWARE!!!.. How can someone hack my Binance account, add a SMS authentication and sell my entire 20+ Crypto portfolio into Bitcoin and then withdraw 8.819 Bitcoin without me getting 1 EMAIL NOTIFICATION. What is odd is when I clicked on change my password I DID receive a email notification.? Now riddle me that? This is just not right and NO I did not even login to my account between Jan 20 – Jan 31 2018 and my account was hacked on Jan 29-30, 2018. Can you please refund my entire portfolio?

    • John,

      Please contact Binance for help. This is not a place to ask for help. Only they can help you. Hopefully you can find the answers you seek.

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