Over the last few years Binance cryptocurrency exchange has been gaining momentum. It is one of the top 20 crypto currency exchanges if you talk about the volume. This exchange has large volumes in pair such as GAS/BTC, ETH/BTC, NEO/BTC, BNB/BTC. The homegrown crypto currency is BNB and is known as Binance coin.
Benefits of Binance
Binance got popular due to low trading fee which is 0.1% and also its transaction procedure is very fast. In one second it can process 1.4 million orders. This is why Binance is well-known and is a world leader in exchange volume.
Binance’s background
The exchange is based on Shanghai which is lead by Changpeng Zhao and his company known as Beiji Technology. This exchange is well known for its processing speed. Yi He has currently joined Binance, she is a well-known Chinese economist. After her joining the exchange many investors has shown interest in Binance and the value of Binance coin has risen by 40%.
Features of Binance
Performance, security, and usability are the promises of Binance. Let’s look into its features:
- Their system architecture is multi-layered and multi-clustered.
- They support most of the web-browsers, HTMLs, WeChat, also Anroids and other platforms.
- Their processing speed is very high, as much as 1.4 processes in one second.
- They offer strong liquidity in pairs of cryptocurrency.
- They support trades in various type of coins such as BTC, ETH, LTC and BNB.
- They are team of very profound economists which is led by Changpeng Zhao. They have strong understanding of Wall Street as well as crypto currencies.
- They have already developed more than 30 exchanges.
Fees you care going to be charged by Binance
Some of the notable Binance fees you need to know about are as follows:
Your deposits are free of charge.
Trading fee is 0.1% (Temporarily you can deduce trading fee by 50% if you have BNB)
- BNB Withdrawals: 1 BNB
- BTC Withdrawals: 0.0005 BTC
- ETH Withdrawals: 0.005 ETH
- LTC Withdrawals: 0.001 LTC
- NEO Withdrawals: Free
- QTUM Withdrawals: 0.1 QTUM
- SNT Withdrawals: 1 SNT
- EOS Withdrawals: 0.1 EOS
- GAS Withdrawals: Free
- BTM Withdrawals: 1 BTM
- BCC/BCH Withdrawals: To be confirmed
Conclusion
Known for its processing speed very fast and its ability to process transactions of1.4 million in one second, Binance is gaining popularity in the cryptocurrency market. It is basically crytocurrency exchange and is sitting in the 16th place in the world’s cryptocurrency exchanges rating when this article is written.
