The Binance cryptocurrency exchange
Binance is one of the newer, yet most recognized platforms to actively engage in Cryptocurrency trading.
Since its inception, Binance has continued to build a massive user base, with remarkable achievements on the cryptocurrency scene. Notable reasons for this, is the exchange’s ingenious operation framework, its relatively low transaction fees, and its multiple language support.
Characteristic features of the Binance exchange
Binance supports over 360 cryptocurrency trade pairs and has continued to open avenues for additions in the future. Binance provides an easy-to-use interface such that both new inexperienced, and old veteran cryptocurrency traders would be able to effectively pull through with basic crypto trading activities. Consequently, there are two selectable platform interfaces, which users can adopt depending on their level of expertise. There is the basic view that is aptly designed for the use of beginners, until they are able to make use of the top level advanced view.
All of the exchange’s activities seems well coordinated, and another reason why they’ve topped the markets, is because of their prompt customer service support.
How to start making use of Binance exchange services
Firstly, the user needs to open an account by completing a regular registration form-which requires the user’s email address and a login password. After these are provided, the user is required to verify their accounts, using a confirmation link that the exchange sends to their provided emails.
Subsequently upon first login attempt, the account user is prompted on the need for a two-factor authentication (2FA), on their accounts. This ensures that all accounts on the Binance exchange are well protected, and accessible to the real owners alone.
After all of these requirements are met, the Binance user can proceed to transfer any supported cryptocurrency onto their Binance accounts, from where they can begin to exchange and trade them for other digital currencies. Note that Binance does not support the use of fiat currencies, and all transactions are made using cryptocurrencies and their calculated equivalents.
Other components of the Binance network
Binance has been able to create and sustain its own indigenous token, the Binance coin (BNB). The coin boasts of a high-level significance on the cryptocurrency market and is one of the few altcoins that currently holds tight at over a billion dollars, in individual market capitalization. BNB can be used in exchange for a 50% reduction in trading fee’s within the Binance platforms. Binance is probably the most recommended exchange to use and you can sign up right here.