Binance – Pure Cryptocurrency Exchange Review

Company – BitDJ Ltd

Website – www.binance.com

Founded – 2016

Country – China

Bitcoin Trading – Yes

Ethereum Trading – Yes

Litecoin Trading – Yes

Introduction

Binance is a state-of-the-art pure cryptocurrency exchange platform that started its operation in 2017. Created by a team of cryptocurrency experts led by Zhao Changpeng, the platform focuses on “on-chain” assets. The team has worked for decades on building and maintaining financial systems that shape the economy. Their experience in building trading systems of the highest security standards has been put to good use to ensure the highest levels of security.

Account Types

Binance currently supports individual accounts, allowing users to trade a variety of cryptocurrencies. The platform will support a range of cryptocurrencies, some of which includes BTC, ETH, LTC, NEO, BNB, SNT, BNT, EOS and more. In addition, the platform also has its own token — Binance token (BNB). Individual account holders can use BNB to pay for fees like exchange fees, withdraw and listing fees.

Partnerships

Binance is a relatively new cryptocurrency exchange platform which has people from some of the leading institutions including Morgan Stanley, Nomura, SBI Group and Accenture. The exchange has also acquired an extensive list of high profile backers for the ICO, including Roger Ver, Matt Roszak and a number of well-known Chinese investors.

Features

Binance is the most versatile cryptocurrency exchange platform. The feature rich platform covers all the bases to avoid issues similar to the ones faced by a majority of exchanges in today’s market.

High Performance

The Binance matching engine is capable of sustaining 1,400,000 orders/second, which makes the platform one of the fastest exchanges in the market. It ensures that the orders aren’t delayed due to increased traffic.

Safety and Stability

Thanks to the highly experienced Binance team, the platform is built to the highest standards. It is made using multi-tier and multi-cluster system architecture. The security features are audited, and penetration tested to ensure their effectiveness.

High Liquidity

Almost every cryptocurrency exchange faces liquidity issues during the course of operation, especially when the trade volumes are exceptionally high. Binance leverages its extensive network of partners gained during their stint in both the finance and cryptocurrency industries to provide the much-needed liquidity for the bootstrapped exchange platform.

Compatibility Across Devices

The huge consumer base for handheld devices and diversity in platforms and operating systems are covered by Binance. It comes with cross platform trading capabilities provided by its client for Web, Android, iOS, Mobile HTML5, and Windows. It also has REST API for integration with other platforms.

Multiple Language Support

Thanks to their universal nature, cryptocurrency trading is a global activity, not bound by geographical boundaries. Keeping this in mind, Binance is making the platform user-friendly for people across geographies. The platform is already available in English and Chinese. Soon, it will include support for Japanese and Korean as well.

Multiple Coin Support

Binance aims to be a one-stop trading and exchange platform for all crypto-assets. The platform currently supports trading for five cryptocurrencies. The trading pairs on Binance includes BTC, ETH, LTC, NEO(ANS) and BNB (Binance Coin). More coins will be added in the near future.

The platform has a strong policy to support only those cryptocurrencies with high credibility factor, user base, and liquidity. It also invites the cryptocurrency community to suggest coins they wish to see listed on Binance.

Customer Service

Binance believes in providing the best in class service to its users. In order to ensure the convenience of the users, the platform has an excellent customer support mechanism in place which offers a quick response to queries and complaints. The customer support is available round the clock, which can be reached from the “Support” section on the website. Users can also use the chat box to get their queries and complaints resolved.

Conclusion

Overall, Binance is a secure and efficient trading platform. Apart from offering the best exchange platform, it is also working on creating a decentralized exchange that uses BNB as one of the key base assets. Binance is a platform worth trying out.

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