Binance is one the leading cryptocurrency trading exchange provides a well-organized platform to buy or sell Bitcoins and various other highly liquid cryptocurrencies in a highly secured environment. Compare to others, Binance also provides various facilities to create wallet and transfer funds or send anyone.
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Binance is one the largest cryptocurrency exchange by trade volume. And similarly, there are many features of Binance you need to know if you are going to open an account with Binance and trade in cryptocurrencies. Here, below we brought the list of pros and cons of binance exchange for you.
BENEFITS OF BINANCE
- Compatible with Multiple Types Device OS
The best advantages of trading with Binance is, its mobile application is compatible with iOS, Android, as well as Mac and PC operating systems. Hence, you can access your account or trade on Binance through different types of portable devices running on different system from anywhere.
- Largest Cryptocurrency Market
As of May 1, 2019, 467 different markets are supported on the exchange. Hence, Binance is providing a large selection of tradeable cryptocurrency markets in the world.
- Native Token for High Liquidity
Another benefit if trading with Binance is has its own native exchange token, BNB, which can be used to supplement trading fees and boost the overall liquidity on Binance.
- High Trading Volume
The trading volume of cryptocurrency is one of the highest among all the cryptocurrency exchange. And it is one of the pioneer of the Initial Exchange Offerings, and It’s Launchpad facilitates sales once a month for those who are interested in being early holders of new tokens.
DISADVANTAGES OF BINANCE
- Unregulated Trading Exchange
Government regulation like US should be important to you, and there are other changes like Coinbase or Gemini could be better option for you. As Binance is not regulated by any Govt. authority posing a risk of unsecured transactions or transparency and other fraud related risks.
- Less User-friendly Interface
The user-interface of the Binance exchange is not friendly for the end-users, that make difficult for them to trade. And it not a friendly approach, especially for the new users who are not fully aware with the functions and menu of the Binance website and its trading functions across the platform.
- Low Liquidity for Altcoins
Another disadvantages of Binance is many of Binance’s markets, specifically those of the lesser known altcoins, offer low liquidity which can make trading large altcoin positions difficult. Only well-known coins like Bitcoins and other high-liquidity coins can get high liquidity in trading volume.
- Call at Binance Customer Support Number
Anyway, every cryptocurrency has it’s own pros and cons, and Binance also have the same story. But still you are getting to open an account and trade in different types of cryptocurrencies, you can enjoy many benefits. And getting non-stop online assistance for technical issues is one of them you will get to solve by experts. You just need to call at Binance support number and share your problem with technician and he will definitely help you in solving the various other problems safely.