What Makes Binance One of The Biggest Crypto Exchange?

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Binance One of The Biggest Crypto Exchange

Lately, Binance has grabbed attention of traders with its vast trading options, security protocols, and competitive fee rates but there is a lot more to this crypto exchange that meets the eye.

Binance is crowned as one of the largest crypto exchanges based on its trading volume. It was first introduced by a Chinese national in 2015 and since then it has evolved into a one-stop crypto trading platform. The platform offers robust trading features and options which allows users off all experience level trade easily. Through its mobile or desktop dashboards, users can trade safely anywhere anytime. Additionally, there is plenty of learning material available on this platform which helps new traders to attain a solid understanding of crypto trends and markets.

This detailed guide will help you discover most pitching attributes, payment gateways, fee structure, and security aspects of Binance crypto exchange.

Attributes of Binance Crypto Exchange

The main reason for traders to choose Binance is its compelling attributes and trading options. These key attributes include:

  • Users don’t require strong trading background to start trading on Binance as it has a low learning curve.
  • It offers access to different trading market like futures and spot market.
  • Binance global has app available for both android and IOS that allows users to traders anywhere and anytime.
  • Additionally, users are allowed to deposit crypto assets from their external wallets. Moreover, the platform also accepts payment form credit card, or a fiat currency deposit.
  • Binance is the safest crypto exchange that offers opportunities for passive income by depositing or staking cryptos. In addition to these financing opportunities, users can get instant loans secured by crypto assets.
  • Binance offers supports to a wide range of crypto assets with maximum market cap.
  • The security measures of Binance crypto exchange are highly regarded by traders. It implements markets strongest security protocols like fund insurance and two-factor authentication to keep user funds safe against any kind of thefts and exchange failures.
  • One of the key attributes of Binance is it’s around the clock customer service. Moreover, Binance website also have an extensive FAQ section addresses many users inquires in detail.

Payment Methods

Binance is one of the largest crypto exchanges with various payment gateways. These include:

  • Bank Deposit
  • Crypto deposit from other exchanges
  • PTP Trading: 60+ alternative options by bank transfer.
  • Credit/Debit Card: Mastercard and Visa.
  • 3rd Party Payment: through Simplex and Banxa.

Privacy & Security Measures

Without a doubt, Binance offers top of the line security to protect user funds and transaction against system failures or cyber thefts. Security measures include:

  • 2-Factor Authentication
  • SMS Authentication
  • Google Authentication
  • E-mail Address

Cryptocurrencies Available on Binance

Till now Binance supports more than 365 crypto assets for trading. Moreover, It supports a wide collection of fiat currencies such as USD, EUR, AUD, GBP, HKD, and INR.7. In addition to fiat currency deposits, Binance is one of the largest crypto exchanges that offer 50 to 591 crypto pairs.

The most famous crypto assets available on Binance include BNB, VET, ONE, VTHO, DOGE, MATIC. Other crypto assets include:

  • Dash (DASH)
  • Cosmos (ATOM)
  • Compound (COMP)
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardano (ADA)

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Customer Support

The customer support of Binance is also one of the top attributes. Users can reach out to exchange professionals regarding any issues. Below explained is the process to contact exchange support:

  • First click support icon at the bottom right of your Binance desktop.
  • There you can either choose “send a message” option or search option to find the answer to your question.
  • The response rate of Binance customer support is robust as the agent replies to user queries within 24 hours.
  • Otherwise, you can also submit a “support request” available at the Support section.

Final Verdict

Concluding it all, Binance is one of the biggest crypto exchanges around the globe but there are certain aspects which helped it retain a prominent position in the crypto market. The platform is easy to use for both new and advanced traders alike. However, if you are new to the crypto market then you may require some prior experience and for that Binance also have a plenty of learning material that will help you throughout the way.

On the other hand, if you’re an experienced trader looking to go long on derivatives or futures market then, Binance may have the features you’re looking for.

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