I've been using the Binance trading platform for a few months now and I'm really excited to share what all it has to offer with you guys. I fully believe Binance has an amazing future as a world class tool for blockchain asset exchange and I think it will have fantastic growth in 2018.
I. TONS OF COINS LISTED
As of today, Binance has over 225 major and alt coins listed on the exchange. Check out recent altcoin additions such as $Trig, $NAV, $IOTA and many more. Plus, they're adding new coins every month, which makes it a trader's fantasy. They just hit a new 24HR Volume Record of 5.5B$ and confirmation of surpassing 3,000,000 users, which is a fantastic way to start off the New Year. These are huge milestones and I imagine this goes 5-10X this year. Look out for the hottest place to trade in 2018.
II. EXTREMELY LOW FEE STRUCTURE***
This one is REALLY important. Binance only charges .1% fee on your trades. Plus, there are multiple ways to get your fees even more HEAVILY discounted (.05%). So, this is pretty much THE incredibly easy way to save some money on your trades. Here's how: a) Use of BNB token. By owning BNB token you can opt in to their deductible fee system. This is designed to reward you for using and hodling their token b) Simply use a referral link/QR code/Referral ID to sign up and you get 50% off your fees for the first few months. Here's my link: https://www.binance.com/?ref=10995511 Referral ID: 10995511 (much appreciated :D)
III. TRADING AND CHARTING FEATURES
On the exchange, we have a lot of information and features that come in handy. First off, they offer Market and Limit orders. Market orders allow you to buy whatever the going market rate (the lowest bid/ask on the book) and Limit orders allow you to decide what price you want to enter in at. They also have a Stop-Limit, which operates in such a way that when the price reaches are certain point it will then place your order to buy/sell on the book.
I really like the fixed % bids options that you can have too, but I do wish they would allow you to customize bid size. 25% of your stack is pretty intense for quick daytrading, which is where i see this feature being most useful. However, I have let Binance know and hopefully we'll see the feature upgraded soon.
A screenshot below shows the Christmas colored interface
IV. DECENTRALIZED VISION
Binance has a long road map of improvements and goals lined up for the the future of the exchange. One goal in particular that interests me and should make any crypto enthusiast warm and fuzzy inside is that they plan to make the entire exchange decentralized in the near future. Although it is not there yet, this is massive step forward for an exchange. It could potentially increase the security of the network and our assets!!
V. TRADING SPEED
Binance is capable of handling 1,400,000 orders per second. This is one of the fastest exchanges on the market and it is extremely reliable at that.
VI. CRYPTO THAT CARES
There's several reasons why Binance is an exchange that cares. Unlike a lot of other exchanges they go out of their way to reward you for participating on the platform and at the same time listening to your opinions. Every month they do a contest to decide a new coin that the community wants them to add support on the exchange. Not only that, their customer service is top notch.
All you have to do is a simple twitter search about some of our favorite American exchanges and you will see several weeks to several month long questions gone unanswered by other's customer service. You will not have this issue with Binance. Next, they are very active on their telegram and several other means of communication. Finally, they give you several ways to invest in the platform. You can stake BNB coins, participate in trading, use their incubating service Binance Labs, and/or participate in their affiliate marketing program. They are very aware of the people who use Binance and everything points to a bit of interest in seeing these people be successful.
VII. BINANCE SUPPORTS ALL FORKS
If there are any forks happening with coins on Binance's exchange they distribute the coins they receive with no questions asked. A recent example of their breaking the mold is with GAS. NEO holders were to receive a bit of GAS, but there are several exchanges that didn't support this move (*cough... Bittrex). To me, that practice is the exchange stealing money from you. So, the fact that Binance makes an effort to pay your dividends every time is a win.
VIII. TRADING COMPETITIONS WIN LAMBOS, BMWs, AND MERCEDES (literally!)
Periodically, Binance offers several competition types all with pretty serious prizes. Usually, there is some sort of ultra luxury car or coin payout worth many thousands of dollars. Some of the competitions are trading volume competitions and some are simply participation/lottery entries. This is an insane feature to promote new users often and also big money whales to come trade on the platform. You bet I'll be taking a stab at getting one of those Lambos.
VIIII. BINANCE LABS
They not only are a fantastic exchange, but they have an incredible long term vision and are invested into the space. If you're a cryptocurrency startup, interested in startups, looking for funding, looking for advisory help, and anything else related to getting the journey started then Binance Labs may be the solution for you. They've created basically an incubator for entrepreneurs to get a boost during the startup phase.
X. COMMUNITY COIN OF THE MONTH
Binance rallies the community to choose a coin that they should list on the exchange each month. This gives us, the consumer, an opportunity to directly dictate where their resources go! It's really awesome and I've already seen some success from people voting on the coins they want. I wish more exchanges would take this initiative.
CONCLUSION
Well, as you can see there's a lot of reasons to like this exchange. If I've left anything out that you think is huge, then please shoot me a message or leave a comment. This is one hell of an alternative to other exchanges such as Bittrex, Poloniex, and GDAX especially.
If you decide it's a good fit for you, then I would very much appreciate you using my affiliate/Referral ID below! Happy Trading!
Join Binance Today!
Simply click the link below, then enter the Referral ID in the box marked as such.
https://www.binance.com/?ref=10995511
Referral ID: 10995511