Binance Broker Review

A Brief Introduction Of Binance

Whether you are a newbie or an experienced professional in the world of cryptocurrencies, Binance has something for you. Although the broker has been around for a short period, it has managed to attract a huge client-base thanks to its impressive ICO as well as its professional attitude.

The platform was founded in China in 2017; however, with China banning cryptocurrencies in the country, the exchange went out of China and is currently headquartered in Japan and Taiwan. In 2018, Binance announced that it would be shifting its headquarters to Malta in the EU after Japan and Taiwan introduced stricter regulations in the industry.

What makes the exchange unique is its low trading fees and the large volume of supported coins. Binance boasts of its ability to process about 1.4 million orders per second.

Available Assets

Binance has one of the largest coins selections in the cryptocurrency industry. The exchange offers over 150 coins to its clientele. Here are some of the coins at the disposal of its traders.

 

BTC                NEB                ETC

USDT             TRX                BCC

XRP                NEBL             POE

ETH                NEO               DASH

XVG                FUN                ELF

Fees

As earlier mentioned, Binance offers some of the most competitive fees.

For the traders, the trading fee is 0.1% per trade executed. If you have a BNB account, you can enjoy discounts on all BNB transactions. Here are the discounts.

TIME	The 1st year	The 2nd year	The 3rd year	The 4th year	The 5th year
Discount rate	50%	25%	12.5%	6.75%	No discount

 

There are no deposit fees charged

Withdrawal fees are adjusted from time to time based on the blockchain conditions.

Customer Support

The lack of professional customer support to respond to customers’ issue on time is a complaint that has been befalling majority of crypto exchanges.

Binance does have a support team; however, there are a lot of issues to iron out. They are quite new. More improvements are due to go forward. The exchange lacks a dedicated live chat or phone support and has to rely upon support tickets on its website.

Pros and cons

Pros

• Low transactional fees
• Deep liquidity
• User-friendly site

Cons

• Have no Fiat options
• Withdrawal fees are inconsistent
• Does not offer live chat or Telephone support

Conclusion

Although the exchange has its fair share of challenges, it has been able to achieve so much in just over 1 year. Its relaxing verification process has led it to be as one of the trustworthy crypto exchanges. The exchange is trustworthy, and you can trust it with your digital assets.