With its easy to use platform, lower fees, and a plethora of top notch crypto money available for exchange, Binance has winged its way to the top in the blockchain crypto market. The leading cryptocurrency exchange in terms of volume was initially formed in China and was moved to several places before it finally settled its servers in the Cayman Islands.
Binance History
Binance entered into the cyber currency arena in 2017 and the following year, it became the world’s largest crypto exchange with its market capitalization soaring to $1.3 billion. The company held the title as of April 2021 and remained in the lead among other crypto exchanges including its close rival, Coinbase.
Source: Coinmarketcap
A major factor that draws the mainstream to put their money on Binance is its low spot trading charge of 0.10% as opposed to 0.50% or more for some other exchange platforms. On top of that, the more an investor trades, the more the company charges an even lower fee. Binance also supports popular cryptocurrencies such as Bitcoin, Dogecoin, Etherium, Cardano, ChainLink, and a lot more, giving capitalists a wide array of coins to choose from.
Source: AS
The firm’s intuitive platform is another edge that sets Binance ahead of its competitors. An amateur trader can easily buy and sell crypto coins like a pro with its four main paths – “Buy Cryptocurrency”, “Basic”, “Advanced” and “OTC”. The design of its “Buy Cryptocurrency” option is pretty straightforward. Therefore, anyone with little to zero background can comfortably jump into the investing space.
Source: Linkedin
Through Binance.US, which is Binance’s outpost based in San Francisco, US traders can access the leading global exchange. However, the downside of Binance is that not everyone in the US can create an account at the moment. The cryptocurrency is available for most states except New York, Texas, Vermont, Hawaii, Connecticut, Louisiana, and Idaho. This prevents more than 50 million potential traders from signing up. Nevertheless, they still have the largest trading volume in the digital money exchange market.
