Binance is Key...
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies. Since early 2018, Binance is considered as the biggest cryptocurrency exchange in the world in terms of trading volume.
Binance started in China but moved their headquarters to the crypto-friendly Island of Malta in the EU. There are two options for trading platforms on Binance: Basic and Advanced. As the names imply, the Basic view has all the user need to perform simple trades while the Advanced view is for more advanced traders. There aren’t many differences between the two views with the exception of being able to do more detailed technical analysis in the Advanced view.
Binance offers the easiest and safest way to buy and trade cryptocurrency.
Pros of Binance
The most important thing about the best cryptocurrency trading platforms is their reputation. The reviews for Binance are through the roof as it is easy to use and most importantly – SECURE! The team behind Binance has a proven record in both cryptocurrency and finance in general. Personally, I’ve had no problems with Binance thus far and when I did open a support request I found the team to be super fast and helpful at getting back to me.
Good for newbies and pros
The interface is easy for beginners to use, and advanced enough for pros to really crush it.
Access to hundreds of cryptocurrencies
The main reason I’ve now started trading almost exclusively on Binance is because of the massive range of coins available. Many exchanges don’t offer more than 20 or so coins, Binance offers hundreds. Binance focuses on hosting newer alt coins before other exchanges so often the cheapest place to buy certain cryptocurrencies anywhere online is on Binance, this can give you a massive edge if you pick up coins that are only listed in a couple of places and those coins then go on to do very well and get listed elsewhere; this will push up the price and you’ll make a killing just for entering early.
Low fees on transactions and withdrawals
One of the biggest draws to Binance is the super cheap transaction fees. Since Binance are in the startup phase, the fees really are some of the least expensive out there. Binance charge nothing for new deposits of coins onto the platform and just 0.1% on the value of trades. To put this in perspective – if you were to use your Bitcoin to buy $100 of Ethereum, Binance would charge you 10 cents.
Capable of processing 1.4 million transactions per second
Knowing exactly what this means is unimportant. Just know that Binance is fast, and fast is good. I’ve had some real issues with lag on some trading exchanges, especially Poloniex, and sometimes this lag has cost me serious money on trades. I haven’t had this problem occur on Binance .
Support is available in many languages
Good if you are bilingual!
Great reward and affiliate programs
If you sign up to Binance through my affiliate link, I’ll earn a small kick back at no cost to you. You can then use your own account to invite friends and family and earn a small commission yourself.
Cons of Binance
While Binance is my favourite platform for exchanging cryptocurrency, it’s not without its flaws. My experience has mostly been positive but I’ve noticed a few complaints online….
Difficulty with Android version of app
I actually haven’t used the app yet, as I conduct most of my business on my laptop.
Delays with certain coins
I haven’t had any problems but some users on Reddit have expressed frustration at coins taking a long time to turn up in Binance wallets. In my experience though, this is a recurring issue across all exchanges and the coins do always eventually turn up – assuming you haven’t fucked it up!
Binance does collect and store some user data, such as logging IP addresses
But so does Bittrex and the other major trading platforms.
Is Binance Safe?
Overall, the pros of Binance greatly outweigh the few cons. Truthfully, this platform is as good as it gets, so if you are wondering if ‘is Binance safe?’ – fear not! Just be sure to follow the golden rules of safe crypto trading – more on that later – and you shall be fine.
As you will see in the step-by-step guide, Binance is one of the most secure and best cryptocurrency trading platforms out there and if you’re new to crypto, Binance really is the most accessible platform with some of the simplest, easiest to read, charts.
Getting started trading on Binance
Binance coin exchange is one of the best trading platform available for digital currencies, you cannot trade traditional currencies on it!
What does this mean?
So before learning how to trade on Binance, you need to…
Purchase Bitcoin outside of Binance.
Transfer your Bitcoin to Binance .
Purchase the other cryptocurrencies you want using your Bitcoin.
To find out more about buying Bitcoin, read this ultimate guide.
If you already know how to or have Bitcoin just click HERE and when you come to this screen click (Register). It's free to open a account.
Don't worry about verifying see picture. you'll understand lol you just dont have too.
How to Set up an Account on Binance
Note – I highly recommended you do this on a desktop or laptop, not your mobile phone.
As mentioned, one of the best aspects of Binance is how easy it is to use.
This step by step guide will show you exactly how to set up an account with Binance , so you can start trading cryptocurrency straight away…
Step One – Go to Binance
Click here to get to the exact page of Binance exchange login you need to get started.
The page should look like this. A few things to keep an eye out for…
Always keep an eye out for secure websites. The most dangerous part of cryptocurrency is landing on a fake website and sending your hard earned crypto to a scammers wallet – if you do that, you can’t get it back.