Updated: Jul 7, 2020
Update 1/17/19 - On January 16th, the world's largest crypto exchange in terms of daily volume, has launched their new crypto-to-Fiat trading platform, enabling British pound and Euro trading pairs.
Binance is one of the newer exchanges to hit the trading community and their is certainly plenty of buzz going around about the trading platform.
Firstly Binance was created by Changpeng Zhao from China, an up-and-coming exchange making headway through the community. Some of the features that shines for Binance are first they have their own token which is currently trading against pairs such as bitcoin and ethereum and is doing quite well as the community embraced it with open arms. Now in some cases, this could be seen as a way to defraud investors, although it usually serves as a legitimate way for investors to earn a passive revenue stream by supporting up and coming exchanges as such in the case for Binance.
Binance has many all the popular coins currently trading on their exchange such as all the biggest coins as well as Neo, iota, Stratis, Waves and the list goes on. They all trade with high volumes as well which in turn produces high liquidity, a process very much needed to successfully trade for profit, otherwise it can become a disaster if your trying to sell coins and the orders don't go through because there is no liquidity. There are also some lesser known tokens and currencies being traded which might seem disconcerting to some traders, however this seems to be the common occurrence with more exchanges these days. For example if you look at the platform - yobit, this exchange was once a popular site, a big reason being you used to be able to get free coins from a large faucet list they provide on their platform. The problem with Yobit is it has many unknown coins on their exchange that other exchanges don't have which can be good and bad. However a lot of traders like these lesser known coins because the prices are so low it doesn't take a lot of capital to make good money on each trade. Just make sure you use caution when trading these particular currencies for liquidity is lacking.
Another positive feature Binance offers is their 0% deposit fee's for all their users. Who doesn't like saving money on fees, however their is a 0.1% trading fee in place which isn't terrible considering. The platform is capable of processing large amounts of transactions which is a necessity for this kind of market with so many users joining daily, exchanges need to constantly scale their platform and keep up with demand. To be precise it's about 1,400,000 transactions per second as stated on their website which is very impressive.
Two other Features that stand out with Binance is their "Labs" and "Launchpad" platforms which makes them quite unique when compared to other exchanges. The Labs platform is a pre-ico launch for potential projects and teams. Binance will provide funds, advice, resources, ideas & concepts and listings. This enables start-ups helping other start-ups, entrepreneurs helping other entrepreneurs. The second platform is their Launchpad which is very cool as they help kick-start these new blockchain projects getting off the ground. If you have a great idea for the next token or cryptocurrency then you would apply on their website and if you get accepted you can get the resources from Binance which could be hard to come by otherwise.
Overall Binance is a great platform making big headway with the trading community as one of the largest in terms of trading volume. There mobile app is top notch as well allowing traders to trade with ease and simplicity. They also have big name investors backing them which speaks highly about their platform and in my opinion where they want to be in the future in terms of growth.. So for these reasons discussed we are featuring Binance as the Bitcoin Gaming Online "Exchange of the Month" and we recommend you go check out Binance and see what their about.
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