Hello everyone, Welcome to my hive blog I am to discuss about my best cryptocurrency exchange and in this post, I will be doing just that. Before you continue, you should not forget to follow my hive blog and as usual, invite your friends, business partners, family and members of your community to hive and I can guarantee that they will not want to leave this amazing blockchain.
Which is the Best Exchange in Your View and why?
Everyone has different preferences and this preferences leads to favorites as well as choices and with this said, my best exchange is Binance Exchange. Owned by Changpeng Zhao and Yi He, Binance was founded in the year 2017 in China. The company currently has its headquarters in Malta as a result of strict cryptocurrency regulations in China. The Exchange has been growing ever since and it is currently the exchange with the largest major coins and tokens listed and it has enough liquidity so users are confident about coins listed on the exchange.
What are the Best Features about this Exchange?
Binance has a lot of features and I must tell that these features are the major reason why I am glued to it. Immediate withdrawal and deposit of Fiat, Futures and Margin Trading, Staking, Trading Competition, Binance Loans, Savings, referral, Binance Launchpad, Binance Voting, Research, Binance News and Customer Service.
Immediate Withdrawal and Deposit of Fiat
Although Binance supports a lot of cryptocurrency deposit and withdrawal which other exchanges do as well, but unlike a lot of exchanges, Binance supports fiat deposit and withdrawal. Supporting about thirteen currencies, from US dollars, Euro, Pounds Sterling, Nigerian Naira, Brazilian Real, Russian Ruble, Turkish Lira, South African Rand, and so on. The ability to deposit my native my currency into the exchange to enable me buy cryptocurrency as well as being able to withdraw fiat bank directly into my bank account without stress or hassle is a major reason Binance got my heart.
Futures and Margin Trading
Trading spot is the regular type of trading and people are used to doing it but with Binance Margin and Futures trading, I can trade with the exchange’s funds and then when I trade right (either long or short) and I make my profit, Binance is always there to pay me.
Binance Staking and Saving
Unlike in the past, people held cryptocurrencies for days when they would moon but things have changed in the crypto space and one of the exchanges which effected the changes is Binance. With Binance stake, I am able to stake my EOS and get an annual return of about 6%, as well as stake other coins which are supported for a period of time while getting returns on keeping my coin. With Binance saving, over 20 coins can be save for a short period of 48 hours or more to get returns on a daily.
Are there any features you think the exchange needs to improve or add?
For me, being able to use my cryptocurrency to purchase goods and pay for services will be a big deal. It will be cool if Binance can have a debit card which can be used to pay for goods and services around the world. Also, I will appreciate if Binance can list SBD as a coin on their exchange. A lot of time, people send SBD to the exchange wallet which is often not returned, so listing SBD will allow users trade SBD for other tokens as well as vice versa easily.
How long have you been using this exchange and how did you find out about it?
I started using Binance in 2017 when it launched and I got to know about Binance on bitcointalk, a cryptocurrency community like reddit, after which I saw users on steemit writing post about the exchange, so I decided to give it a try.
How often do you use the exchange and what sorts of transactions do you do on it?
I use Binance on a regular basis, I use it to trade as well as to stake, learn more about cryptocurrency in with Binance Launchpad and Binance Academy, and many more.
Has the exchange run any promotions or contests that you have taken part in?
I have participated in so many promotions and contest on Binance both on twitter and on the exchange itself. Most time I join the trading campaign and in some cases I get a few token.
Would you invite your friends to join the exchange? Why?
I would be willing to invite friends to Binance because it is first the only exchange that people from my country can deposit NGN (Nigerian Naira) fiat as well as withdraw from easily to their bank. Another reason is liquidity, on a final note, Binance has tokens saved in cold wallets so I can be guaranteed that if it is hacked, I will still get my coins back.
If you didn't use this exchange what would be your next choice?
If I wasn’t using Binance, I would be using Huobi or Poloniex. I got to know about Poloniex since 2016 and Huobi in 2017.
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Binance has proven to be one of the best exchange ever. I am still waiting to see that great exchange that will get them beaten.
I know if crypto.com stay in the loop for long, they might rival them.
They'll keep your funds and not return them should there be an extra character in the memo. When it's easy to fix. (Hive wallets). They have abused users' funds by powering up in the past.