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Binance Exchange Review- Honest Review – Is it Scam or Safe?

Binance is a leading cryptocurrency exchange with a strong focus on security. Binance holds the world’s largest cryptocurrency exchange and offers a variety of features to help traders and users secure their funds.

Binance Exchange was founded in Hong Kong in 2017 by Changpeng Zhao. It is currently ranked as the largest cryptocurrency exchange in the world by trading volume, according to CoinMarketCap.

The exchange has its own token called BNB (Binance Coin), which can be used to pay for trading fees on the platform or traded for other cryptocurrencies at a set price. By the time of writing this post 1 bitcoin is valued at $29,000 (Sh3.3 million) a coin.

Binance offers a wide range of coins and tokens to trade, including cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and more than 100 others that can be traded against each other or against USDT (Tether).

In addition to its native coin, BNB, Binance also allows users to buy other cryptos using USD or EUR fiat currency via credit cards and bank transfers.

Is Binance reliable, Secure Cryptocurrency Exchange Or Is It A Scam?

Binance is definitely a reliable, secure cryptocurrency exchange.

In fact, I’d say it’s the most reliable, secure cryptocurrency exchange out there.

Even if you’re a beginner who has never traded before, they have a ton of resources available to help you learn how to trade and get started with your first trades. They also have an incredible customer service team that will answer any questions you have about Binance or trading in general. And did I mention that they’re incredibly easy to use?

One of the main reasons why so many people use Binance is because it allows you to trade without requiring any personal information from you. This means that you don’t have to go through the hassle of signing up for an account or providing personal details before being able to start trading on their platform.

Another reason why people love using Binance is because they offer some of the best prices when it comes to buying or selling cryptocurrencies. You can expect prices between 0% and 0.2% per trade depending on which coin you are trading with and whether or not there is an ICO running at that time (ICO’s can be very popular at times).

In addition to these two things, there are also many other reasons why people choose to use Binance instead of other exchanges such as Bitstamp or Coinbase:

– They offer support for multiple languages including English, French, German, Spanish, Portuguese and Chinese among others;

– Their website design looks professional;

The security of your account on Binance is guaranteed by several methods:

– 2-Factor Authentication (2FA) for withdrawals;

– email confirmation for each withdrawal;

– IP address restriction on withdrawals;

– IP address restrictions on logins from new devices;

– ability to set withdrawal limits per day or per week;

– support for Google Authenticator and SMS TOTP.

My Experience with Binance

I have been using Binance for a while now and it has been a great experience. The platform is easy to use and intuitive, which makes it a pleasure to trade on. It is also one of the cheapest exchanges in terms of fees – even though you may have to pay extra for certain coins or trade pairs depending on your location.

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The user interface is clean and simple, so it’s easy to find what you are looking for. You can also customize it to suit your preferences if you want a more personal experience.

When trading on Binance, there are two ways that you can open an order: by market order or limit order. A market order will execute immediately at the best available price; however, this means that if there aren’t any orders available at that price, then your order may not be executed at all (or partially). If there are multiple orders at the same price level then they will all be executed together at once as well (this is known as “co-mingling”).

A limit order allows you to specify whether it should be executed immediately or not (or partially). If there aren’t any other orders at your desired price point then no action will occur.

 

Binance is a Crypto exchange, not a cryptocurrency

Binance is a crypto exchange, not a cryptocurrency. This means that its is a platform that allows users to trade cryptocurrencies.

It’s one of the largest crypto exchange platforms in the world, and it has been around since 2017. As earlier stated, Binance offers more than 400 tradable cryptocurrencies to its customers, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash (DASH) and much more! The exchange also features security features such as two-factor authentication, as well as an API that allows developers to integrate with Binance’s API directly into their own applications or websites via a RESTful JSON interface or WebSocket client library. It should be noted that Binance has also a Cryptocurrency called Binance Coin.

What is a crypto exchange?

A crypto exchange is a digital marketplace that facilitates the buying, selling, and trading of cryptocurrencies.

Crypto exchanges allow users to trade between different cryptocurrencies, as well as between digital and fiat currencies. Some crypto exchanges also allow users to trade on margin (borrow money from the exchange to increase the size of their trades) or short (make bets on a falling price).

There are many different kinds of crypto exchanges, but they all function in the same way.

When you buy something on Binance, you are trading your cryptocurrency for another form of cryptocurrency, such as Bitcoin for Ethereum or Litecoin for Bitcoin Cash. This can be done with fiat currencies too—you can trade USDT (Tether) for Bitcoin, for example.

When you sell something on Binance, you are selling some cryptocurrency back into Tether or another fiat currency like USD, EUR , British Pound or Kenyan Shilling.

Binance Trading Platform Review

The platform is also very user-friendly, making it easy to get started even if you’re new to crypto. You can easily deposit or withdraw funds from your Binance account at any time, and there are no limitations on how much you can buy or sell at once.

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Binance has a number of security features built in to protect users against fraud or theft. These include two-factor authentication, which means that even if someone was able to steal your login credentials, they wouldn’t be able to access your account because they’d need your phone as well (and would have to know the passcode!). There is also a limit on the amount of withdrawals per day so that an individual cannot withdraw more than 2 BTC at once (or equivalent).

The downside is that sometimes there are issues with customer support and verification times. You may have to wait several weeks before getting verified if you’re new to crypto trading; this can be frustrating if you’re looking for an instant way to buy coins without having to sign up with multiple exchanges first!

Binance

Binace Wallet

Binance’s wallet allows you to easily deposit funds in your account and withdraw them as soon as you want. You can also make deposits and withdrawals through credit cards or bank transfers.

The Binance wallet is compatible with multiple operating systems: Windows, Mac OS X, Android and iOS. However, if you are using a browser-based version of Binance wallet then it will work only on Chrome or Firefox browsers.

Binance wallet offers two types of wallets: hot and cold wallets. Hot wallets are always connected to internet while cold wallets are not connected to internet at all times. The hot wallets are more secure than cold wallets but they are less convenient because they require internet connection at all times while cold wallets require internet connection only when you want to access them which makes them more convenient but less secure as compared to hot wallets.

There are three types of security measures used in Binance wallet:

1) Two-factor authentication (2FA) – This will help protect your account from unauthorized

Fees

In order to use the exchange, you’ll need to pay a fee. The fee is paid in Binance’s native currency, called BNB. The fee varies depending on the type of transaction you make and how much money it’s worth.

If you want to trade different coins for BTC or ETH, the fees are pretty low—usually only a couple of dollars per trade (sometimes even less). But if you want to trade crypto for crypto or crypto for fiat (like USD), then those fees will be higher because they’re harder for Binance to execute quickly and efficiently.

For example, if you buy a cryptocurrency with Binance coin (BNB), there’s a 0.1% fee charged. The fee is 0.2% for Tether (USDT) purchases, 0.1% for NEO/GAS trades and 0.2% for other similar transactions.

The fees also apply to trades that involve BNB, BTC or ETH but not USDT. If you’re paying with USDT, then the fees are reduced to 0.05%.

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You can calculate your total fee by multiplying the amount of crypto traded by its fee percentage – here’s an example:

If you purchased 1 BTC at $5,000 and paid in BNB, then your total fee would be 10 BNB (which would cost $50).

Customer Support

Binance has an excellent customer support team that can help users with any issues they have while using their platform. In fact, they have 24/7 support via email and social media channels such as Twitter and Facebook as well as live chat support during business hours (6:00 AM – 12:00 PM UTC).

Binance Trading Guide for Beginners

Binance is a great platform for traders of all levels, whether you’re just getting started or you’re a seasoned veteran. It’s got an intuitive interface and tons of features that make it easy to find what you’re looking for.

As a beginner, though, there are some things you should know before diving in. Here are the top ten tips to get you started:

1) Always put safety first – don’t go into debt and never use money that can’t afford to lose (like rent money).

2) Don’t get emotional – if your investment tanks and the market is crashing, don’t panic sell. Hold onto those investments until they start to recover or until the market turns around and starts going up again.

3) Be patient – it takes time for investments to recover from downturns; don’t try to rush them along or sell them too soon.

4) Diversify your portfolio – don’t just focus on one thing; instead spread out your money over multiple different types of assets so if one goes down, others will rise up with it

Steps To Trading With Binance

Step 1: Go to Binance.com and create a new account. If you already have an account, log in.

Step 2: Click on “Funds” at the top of the page, then click “Deposit.” Select the cryptocurrency or fiat currency you want to deposit, enter the amount you want to deposit, then click “Deposit.”

Step 3: Click on “Exchange” near the top of the page and enter your desired currency in the search box.

Step 4: Choose how many units you want to buy or sell and click on “Buy” or “Sell.” If you want to buy, enter the price that’s listed in your currency’s value (the number after BTC). If you want to sell, enter how much USD/EUR/etc. you want for each unit of your currency (the number before BTC).

Conclusion

Binance is not a scam, nor is it a P&D. It’s an honest cryptocurrency exchange platform that deserves its popularity and top 30 ranking on CoinMarketCap. It’s easy to set up an account and start trading, making Binance ideal for beginners who aren’t yet ready to shoulder the responsibility of day trading crypto. BNB is currently among the best non-ICO tokens on the market.

 


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