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Tuesday, October 4, 2022

Binance Review in 2 minutes (2021 Updated)

With almost 200 coins listed as well as a native token that’s one of the most popular cryptocurrencies around, Binance is considered one of the worlds leading cryptocurrency exchanges. Hi, I’m Nate Martin and were taking a deeper look into Binance in our 2-minute review.

Founded in 2017 and based in Malta, Binance operates several exchanges such as Binance US, Binance Singapore, Binance Jersey and Binance.com – a global Bitcoin exchange that allow you to trade cryptocurrencies which we will focus on in this review. Binance offers basic and advanced trading services, as well as futures and margin trading, which means you’ll get around nicely whether you’re just starting out or an experienced trader.

Aside from trading, Binance offers a brokerage service that allows you to buy cryptocurrencies with a credit card. Keep in mind that this service is more expensive than trading on the platform but is also much more simple.

Binance funded its initial operation through an ICO, a crowdfunding mechanism, where each investor received tokens known as Binance Coin or BNB, which can be traded for other cryptocurrencies or used to receive discounts on Binances trading fees.

Binances fee structure is extremely attractive with a flat 0.1% fee for most trading activities. You also get an additional 25% discount if you pay for your trading fees using Binance Coin. One feature our team really adore about Binance is SAFU, the Secure Asset Fund for Users.

SAFU is an emergency insurance fund that helps compensate users in case their funds are stolen from the exchange. It’s funded by 10% of all trading fees on the platform. Another service worth mentioning is the savings account which allows you to deposit your crypto and earn interest on it.

But it doesn’t stop there, Binance also offers a mining pool, a debit card, advanced account security features and more. To conclude, Binance is a constantly evolving exchange that supports a wide variety of coins and trading options with additional room for improvement on the customer support side. Make it 4.7 Stars from us here at 99Bitcoins as we consider it a great place for beginners and seasoned traders alike.

Have you used Binance? Let us know what you think about it in the comments. And if you haven’t, you can sign up or read our in-depth review using the link in the description below. That’s today’s 2-minute crypto reviews and I’ll see you in a bit.


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