Binance among the best cryptocurrency exchanges
The vast majority of crypto-users turn to an Exchange to managing their cryptocurrencies. These are online platforms that allow their clients to operate with digital assets. They offer classic services for buying and selling cryptocurrencies, using the default market values. Some of them also allow to exchange beyond the different cryptocurrencies that exist and include in their operations traditional money (fiat), stocks, and other financial assets.
To successfully manage cryptocurrencies it is recommended to know the multiple exchange options that exist; as well as the different possibilities they offer. This information will allow us to choose wisely the one that best suits our particular needs.
Binance is currently considered one of the best cryptocurrency exchanges, according to Broker Online. This analysis included important selection criteria such as: the number of cryptocurrencies available, commissions and payment methods, wallet, security, and limits when depositing or withdrawing. The fact that Binance, with only three years of experience, is in this position, merits a deeper analysis. Here we show you how it got there!
Binance's story: safety, trust, and popularity
The name Binance comes from the combination of the words "binary" and "finance", having registered the domain in April 2017. Although Binance is a Chinese exchange, it operates virtually worldwide. The main person responsible for its creation is the Chinese-Canadian businessman Changpeng Zhao. Binance began its remarkable activity in July 2017, after raising $ 15 million through a public coin offering. Currently, it is the platform with the highest volume of transactions worldwide.
Binance has gained its recognition mainly for the wide variety of currencies it offers, the multiplicity of exchange tools, and its very low transaction fees. Its rapid growth and positioning in the crypto market since its creation at the beginning of 2017, it's remarkable. Other important factors that have increased its popularity are the restoration to multiple languages, having a clean user interface, and extremely high performance in its data processing speed, with virtually instantaneous exchange operations.
The renowned exchange launches in June 2017 its own cryptocurrency: Binance Coin (BNB). It was born out of the need to support transactions within the platform itself. This coin has caught the attention of numerous investors and records sustained high values in the market thanks to its compatibility with different systems and digital currencies.
In March 2018, Binance already had international recognition for its number of operations worldwide, with headquarters in Japan and Taiwan. Currently, it has considerably expanded its alliances in various cities around the world. In that year, it became a world leader in trading volume, and the international community recognized its commercial attributes, mainly its loyal commission policy and a considerable set of trading tools, accompanied by an advertising campaign adjusted to the competition.
Binance's services allow its users to trade and operate in real-time with more than 100 cryptocurrencies. This exchange offers its clients two platform variants: a Basic and an Advanced. In this way, people with little experience find the opportunity to make simple operations and, at the same time, it makes it easier for investors and professional traders to carry out more complex operations.
The most recognized characteristics of this exchange when evaluating by its users are the capacity to process up to 1.4 million transactions per second (which represents the possibility of safe trading despite the site being saturated), and the generous market commissions it offers. If you want to be a user of Binance or consider consuming a product supported by this platform, it is advisable to analyze the first steps to start using it, the options it offers, the commissions, security, and how to manage your funds. We invite you to consult our articles with a detailed guide on how to open a Binance account, enable 2FA for greater security, and withdraw funds. For other information, you can also visit web sites such as Cointelegram and Dinero Bits.
Regarding the future projections of the famous exchange, its CEO Changpeng Zhao states that: “Binance is ready to survive any number of years ... Our aim is much longer than another year. Our aim is 10, 50, 100 years. So, we’ll be here for a while.”
This exchange aims to provide all possible solutions for all the crypto needs of its clients, from information and analysis to purchase, trade, and retention solutions. In support of that projection, they announced the acquisition of CoinMarketCap (the most visited cryptocurrency website worldwide), which will maintain its autonomy.