Why is Binance the market leader?
Why is Binance the market leader?
Today, we are talking about the most fast-growing exchange in the cryptocurrency industry – Binance.
The name was made by crossing binary and finance. The full form of the name is Binary Finance.
Having emerged in 2017, Binance was fast to take the lead in the industry and, after the recent acquisition of CoinmarketCap, is now threatening to become the industry’s monopolist.
Let’s have a look at the exchange’s competitive advantages, which had helped it to get where it’s now, and find out how to register on it to derive the greatest benefits.
Advantages of Binance
A very good reputation
Binance bets on security and ease of use, hence its unsurprising popularity among users. The best specialists of the industry and the financial sector work at Binance. Binance’s support service contributes a lot to the reputation of the company. Support managers of the company express interest in solving customers’ problems. And any issue is addressed in no time.
Suits both beginners and pros
Using Binance, professional traders get all the instruments they might need for cryptocurrency trading. Along with this, the exchange has developed a comfortable and intuitive interface, thanks to which the threshold for starting is very low – any person can start using it with no prior experience.
Access to hundreds of cryptocurrencies
That’s another advantage of Binance. If you need the best selection of cryptocurrencies, Binance provides you with it. Other exchanges have 10-20 coins, while Binance has hundreds. Binance enlists altcoins earlier than any other exchange, making it the best place for the most lucrative deals.
You can make a lot of money by purchasing coins that haven’t been yet enlisted. When they are finally enlisted and get to other exchanges, you will be able to make high returns. Moreover, it’s worth remembering that Binance has its own cryptocurrency – BNB Coin. The capitalization of the asset is promising for those invested in it.
You can choose between spot and margin trading. Futures trading is also available on Binance.
Low trading and withdrawal fees
Binance is famous for its fees that are almost the lowest in the industry. The company aims at the expansion; therefore, its fee policy is favorable for a user. Binance charges no fee for depositing and takes only 0.1% of a trade. For instance, you buy Ethereum for $100. All you pay to Binance for the trade is $0.10. Try to find an exchange with a better commission offer.
Binance can process 1.4 million transactions per second, which makes it a Formula One car in the world of crypto. On some platforms, including Poloniex, you can face difficulties due to lags and low processing speed, which sometimes leads to losses. It doesn’t happen with Binance, thanks to the technical level of the platform.
Multiple languages are available
The exchange has 16 languages, and the number is increasing, which proves the growing popularity of Binance and its potential as the leader of the industry.
Excellent bonus and affiliate programs Wide range of affiliate programs
You can use a referral link to get especially profitable terms of trading – discounts up to 20% on trading fees, which will make your trading even more lucrative.
Where can you find such links?
You can use our referral link
Once you register via the link, every fee on the exchange will be reduced by 20%.
You can share the link with your mates, so that they can get the discount as well.
Registration on Binance and deposits
To start the work on the exchange, you need an account. The registration process is very simple and doesn’t require any verification unless you’re going to withdraw more than 2 BTC a day. If you want to withdraw more (up to 100 BTC a day), you will need to verify your account by providing a passport scan and a photo of you holding the passport. After you submit all data and documents needed for verification, you will have to wait for quite some time. There are higher withdrawal limits too (more than 100 BTC a day), but you’ll have to contact the support center to get them.
After the registration, you can deposit any cryptocurrency to your account and start trading. It’s often BTC or ETH. When you log in an account for the first time, the exchange warns you about the mistakes you should avoid not to fall victim to fraud.
- Don’t install any browser extensions that can compromise your personal data;
- Don’t answer phone calls from people claiming to be representatives of the exchange;
- Under no circumstances should you disclose the data needed to access your account;
Don’t send assets to people claiming to be representatives of the exchange.
Congratulations! You’ve just registered on the most popular cryptocurrency exchange!
The next time, we will tell how to gain the maximum profits by trading on an exchange. Join our Telegram channel, keep in touch with the latest cryptocurrency- related news, read price analysis of leading cryptocurrencies, and improve your cryptocurrency trading skills.
May success attend you!
Sign up for Binance with 20% discount on commissions: