What is Binance?
Binance is an altcoin exchange. That’s an exchange in which you can trade different cryptocurrencies, not fiat (USD, Euro, JPY, etc). You need to first buy crypto through Coinbase, Gdax, Gemini, or another exchange and then transfer it to Binance.
Why Binance?
There are a number of altcoin exchanges but Binance is superior for a number of reasons.
Lower fees
- Fees on Binance are set at 0.10% and can be lowered to 0.05% if you hold their token, BNB. Compared to most exchanges where the fee is at least at 0.25%.
- Binance has a mobile app for both android and IOS and a PC client for Windows, a rarity in the crypto world.
Trustworthy, honorable exchange
- Binance is very interactive with their community with constant updates and they also have active mods on the Binance subreddit
Get rewarded for trading
- Often when a new coin gets listed they’ll have trading competitions based on volume
Gives you your fork money/POS earnings
- Binance gives you bitcoin forks
- Binance gives you your gas from neo holdings
Consistent additions of new coins
- Currently 224 trading pairs
- They add a new coin/pair nearly everyday, while most exchanges add 1-2 a month.
Language support
- Binance is one of the only exchanges focused on adding a multitude of languages currently including English, Korean, Russian, French, Chinese, Japanese, Spanish, and German.
And that’s only a few of the things that makes Binance superior, experience it for yourself and find out why it went to the number 1 exchange in volume (24HR) in just 5 months.
Steps To Sign Up:
- Go to Binance and click register at the top right hand corner.
- Enter the details required and agree to Binance’s Terms of Use.
- Then confirm your email
- And you’re in!
Congrats, you made your Binance account. At level 1 verification (default) you have a 2BTC withdrawal limit every 24HRs but can submit more documents for a 100BTC limit.
I also strongly recommend to enable 2FA. It increases the security to your account tenfold.
And for a better-looking exchange GUI I recommend clicking “Exchange” and choosing advanced.
If you have any questions, concerns, or problems please comment below. Good luck!