A binance is the most popular crypto exchange platform that permits their buyer and seller to trade from crypto to crypto. In Binance exchange platform, they have millions of active users and so many virtual coins to perform trading like bitcoin, Ethereum, Litecoin and lot more.
Binance Exchange is one of the popular cryptocurrency exchanges that offers trading in more than 45 virtual coins including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Binance Coin (BNB).
The Binance coin is expected to fuel the operations of the Binance exchange and its ecosystem. It supports multiple utilities on the Binance ecosystem, which includes paying for trading fees, exchange fees, listing fees, and any other fees on the Binance exchange.
Exchange using Bitcoin Clone script
BNB has multiple use cases, but within the Binance Exchange ecosystem, it is used as a utility token that allows users to receive discounts when paying for their trading fees. Besides being used by traders to get discounts on their trading fees, Binance Coins can also be used to pay for travel expenses (such as hotels and flights booking), to buy virtual gifts, to shop using a credit card, and much more.
Binance is growing at a very fast rate, and if it will keep growing, it will soon become the biggest crypto exchange worldwide for trading altcoins. Many newly launch coins and tokens are getting listed on Binance as compared with the other major exchanges (Poloniex and Bittrex).
Binance currently supports three types of trade orders: limit, market, and stop limit orders. Limit orders are executed only at the limit price set by the trader; market orders are executed immediately at the best available market price, while stop limit orders become valid orders only when the price reaches a specified level.
• Binance is an exchange where users can trade cryptocurrencies. They support many of the most commonly traded cryptocurrencies.
• Binance provides a crypto wallet for their traders, where they can store their electronic funds.
• Binance has their own token currency, Binance Coin.
• The exchange also has supporting programs that help traders make investment decisions.
Applications of Binance
Responsive to User Feedback:
Binance has generally been responsive to user feedback. In recent months Binance has drastically lowered withdrawal fees on many cryptocurrencies after users, rightfully, complained about high withdrawal fees.
Proactive Approach to Security:
Binance has taken a very proactive approach to security by offering $10 million USD for “bounties” that lead to the arrest of any person who attempts to hack Binance. Binance’s handling of a recent failed hacking attempt was widely praised by the cryptocurrency industry. No users lost funds and the hackers actually lost their own funds!
Clean Trading Interface:
Everything on the trading interface fits neatly on one screen and is easy to understand even for a novice trader.
Low Trading Fees:
The fees to buy and sell on Binance are extremely low if you pay in the native token, BNB.
High Liquidity Platform:
Binance exchange deal with largest volumes of trade everyday providing the buyers and sellers wide opportunities for quick trade with high liquidity. The large volume of trade also provides best opportunity of traders to easily sell or buy the Binance at better pricing.
Another advantage of trading with Binance exchange is the user-interface of the trading platform is easily to understand and user-friendly allowing the new traders to execute the transactions without facing any kind of technical issue.
Highly Secured Platform:
Another benefit of trading with Binance is that this exchange is highly conscious about the security of transacted funds and accounts of users on Binance.