Binance Crypto Exchange: Official Review 2024

10 December 2019
 
 Pros:   Cons:
Platforms suitable for both beginners and experts. Great for technical analysis.     Customer service available only through live chat and email.
Very low trading fees.     Absence of a demo account for testing platforms.
Wide range of products and services.     No direct payment method
Excellent educational and training materials.

 

Pros:

Platforms suitable for both beginners and experts. Great for technical analysis.
Very low trading fees.
Wide range of products and services.
Excellent educational and training materials.

Cons:

Customer service available only through live chat and email.
Absence of a demo account for testing platforms.
No direct payment method.

Binance review and rating. Pros and cons

BINANCE is one of the most important exchanges of the crypto universe. Founded in 2017, with fundraising through ICO (Initial Coin Offering) the team has raised 15 million dollars. Within a few months, the exchange has become the number one globally in terms of the trading volume.

The company was founded in China but, following the government's ban on cryptocurrency trading, Binance decided to move the servers to Japan and its headquarters in Malta. Thanks to a Memorandum of Understanding signed with the Malta Stock Exchange, Binance has created Binance Jersey, an independent platform created with the aim of expanding the European influence of the cryptographic giant.

Binance's token, BINANCE COIN (BNB), today has a market capitalization of almost 3 billion dollars and is in the top 10 of  CoinMarketCap.

The services offered by Binance are mainly aimed at traders. However, in recent months three additional platforms have been released to complete the Chinese exchange offer:

  1. BINANCE.COM is the flagship platform. It allows you to trade cryptocurrencies at very low commissions, to operate in leverage, to participate in Initial Exchange Offering (IEO), to store coins and to earn interest by making your cryptos available to the exchange;
  2. BINANCE JERSEY is the tool that allows you to buy cryptocurrencies using bank transfer, thus let you trade fiat currencies with Bitcoin and some of the main altcoins;
  3. TRUST WALLET is Binance's wallet. It allows you to manage, receive and send bitcoins, numerous altcoins and tokens based on the Ethereum and Binance blockchains;
  4. BINANCE DEX is Binance's decentralized exchange. Based on its own blockchain, it allows you to exchange altcoins at fees close to 0. Being decentralized, it allows users to access directly with their wallet of which they hold private keys, therefore no registration or KYC will be required.

Author of the review:

Alfredo de Cristofaro author
Alfredo de Cristofaro
Founder QualeBroker.com
Graduated in Economics of Financial Intermediaries, after having worked for several years at one of the main financial brokers in Europe, he decided to make available to investors the knowledge gained over the years. On QualeBroker.com he's responsible of reviewing the stockbrokers, making sure that the highest standards of safety and transparency are guaranteed.
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