There are a lot of cryptocurrency exchanges available but among them, Binance remains as one of the biggest and most popular platforms.
Many beginners and veteran cryptocurrency traders prefer using it to make some money by trading different coins.
But what makes Binance so popular? Let’s find out!
7 Reasons why Binance is one of the best cryptocurrency exchanges
More Opportunities to Make Money
When it first launched in 2017, Binance offered the highest number of coin pairings.
This got a lot of traders interested in the platform since having more coin pairs to choose from meant more opportunities to make some money.
Today, Binance continues to expand its offerings and currently has 584 coin pairs available on the platform as of the time of writing.
Binance is known to be aggressive when it comes to acquiring new technologies and making partnerships with promising companies.
But, these decisions are often the result of their community’s consensus.
Members of the global crypto community agree with the company’s decision to purchase CoinMarket Cap to attract more investors to their platform as they felt that this decision will strengthen the cryptocurrency industry as a whole.
Earn Rewards from Events
Binance regularly hosts events where participants can earn BNB as a reward. BNB is Binance’s cryptocurrency and offers perks such as discounts when traders use it to pay commissions.
To join, simply click on the event icon and you’ll be redirected to a page which will show you the event’s mechanics.
From the Binance dashboard, you can see the wallet option as well as a button to buy cryptocurrencies.
You can purchase coins directly through Binance using your credit or debit card.
Alternatively, they offer additional payment methods if you’re having trouble with your credit or debit card.
Low withdrawal and transaction fees
When it comes to trading fees, Binance wins over other exchanges since they only charge 0.1% per transaction; making it one of the lowest in the market.
This is a very big reason for traders to prefer using this exchange because essentially, it means they’re able to make more money with each trade.
However, keep in mind that there’s a limit depending on your verification level. Binance allows unverified accounts to withdraw up to 2 BTC a day while verified accounts are allowed up to 100 BTC!
High-Levels of Security
Binance has been awarded an information security accreditation by the International Organization for Standardization (ISO) making it the very first cryptocurrency exchange to be verified by the DNV and UKAS.
They also have a 24/7 automated security program that scans the system for any unusual activities.
When it detects that there’s something wrong with the account, it freezes all transactions for that user and notifies Binance’s internal security team.
The team investigates and resolves the issue as soon as possible. Once everything is clear, the account can be used normally.
Lets you Connect to Automated Trading Software
What’s amazing about Binance is that it allows you to create API keys so that you can connect your account with third-party, auto-trading applications such as ProfitFarmers.
ProfitFarmers is a cryptocurrency trading software that allows members to follow trading signals and execute the trades automatically.
Essentially, you’ll be able to make some money through Binance without having to go through the stress of finding good trading opportunities and sitting up all night watching charts and losing sleep.
Binance certainly has a lot of advantages compared to other platforms, so it’s easy to see why many people prefer to use it.
It’s user-friendly, has a high number of coin pairs, community and technology-driven, and allows you to connect with applications such as copy trading software.
Without a doubt, Binance is still one of the most impressive cryptocurrency exchange platforms available.