Binance

Binance

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Developer
Binance Inc.
Version
2.80.5
Downloads
108714543
Category
Finance
Android OS
Varies by device
Price
Free

If you're keen, on investing in cryptocurrency chances are you've heard of Binance. Known as one of the most popular cryptocurrency exchanges globally, Binance is renowned for its coin offerings, low fees and robust security measures. With a variety of tools and features to choose from, Binance remains a popular platform for investors, but why?

Binance: Revolutionizing Investment

Created by Changpeng Zhao, Binance has skyrocketed in popularity due to its user-friendly interface, great election of cryptocurrencies and competitive fee structure. This app allows users to trade over 100 coins, including the most popular ones, like Bitcoin, Ethereum and Ripple and a wide range of lesser known altcoins.

Thanks to this, binance has remained a popular choice for investors looking to diversify their portfolios, offering interesting features to help you invest in cryptocurrencies as efficiently as possible.

Binance's features

Binance offers an open fan full of unique and interesting features that helps you make the most of your investments. These features are:

  • Multi-Assets mode: Trade in USD-M using a variety of cryptocurrencies.
  • Leaderboard: a mix between a social media app like Instagram and cryptocurrency trading that allows you to follow and see the positions of your favourite traders.
  • Battle: gameify your cryptocurrency trading by setting each trader against another one to prove who's the most profitable over an specified time period.
  • Trading bots: including a grid-trading, time-weighted average price and other automated trading tools.
  • Binance options: specially designed for retail users, allowing you to buy and sell underlying assets at a standard predetermined price and date.
  • COIN - margined futures contracts: supports delivery and perpetual contracts settled in criptocurrency.
  • USD - margined futures contracts: supports delivery and perpetual contracts settled in USDC or USDT.

Is Binance safe?

Binance excels in the security area, regarded by most investors as the safest cryptocurrency investing apps out there. The app offers an industry-leading security system, with two-factor authentication, cold storage for the majority of your funds and regular security audits. Binance has a rather unusual and interesting security measurement: SAFU. These initials stands for Secure Asset Fund for Users, providing an extra step in security to avoid breaches or hacks. Binance also tracks a reliable record regarding security, giving you the necessary peace of mind when trading.

Anyone can trade!

A major advantage of Binance is its ease-of-use, providing an user-friendly interface, easy to navigate and understand. Binance offers real-time market data, trading charts and many other resources, to help you trade based on informed decisions. Thanks to its mobile app, Binance can be used anywhere at anytime, allowing you to always stay connected. All of these features, makes for an user-friendly app, allowing both experienced users as well as beginners to delve into the world of cryptocurrency trading.

Binance's downside.

The main drawback of Binance is its customer support. While the platform itself offers a large and comprehensive FAQ section and a support system, response times are rather slow, especially during the peak trading hours. When in urgent need of help, thus can be rather frustrating. However Binance does have a dedicated and effective customer support team that remains at your disposition the 24 hours of the day, the 7 days of the week to assist your every need.

An overview on Binance

Overall, Binance is your best option when trading cryptocurrencies, offering a reliable and reputable exchange and database with low trading fees, a wide array of coins and great security measures. This and many more advantages has earned Binance an excellent reputation and a privileged place amongst trading apps. Thanks to these perks and advantages, Binance has definitely earned a 5/5 rating.

 

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Rating

4.7
Pros
  • Easy to use.
  • Low trading fees.
  • Offers a wide variety of coins.
  • Safe and reputable.
  • 24/7 customer service.
Cons
  • Binance's extensive features can be overwhelming for beginners.
  • Its customer service can be slow, specially during peak trading hours.
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Binance

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Frequently asked questions

Is Binance free to use?

Binance is free to download and it doesn't charge deposit fees but it does for withdrawals.

Is it safe to have money on Binance?

Binance is a leader in security amongst trading apps, with a robust security system, making it a safe place to keep and invest your money.

Is it possible to withdraw all of my money from Binance?

It Is possible, although you'll have to go through a specific withdrawal method. It isn't hard but you need to complete every single step for the process to go smoothly and without a problem.

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