What is Binance and is it Safe For Crypto Investment?
Binance is the largest cryptocurrency trading platform in the world.1 Because it offers a robust selection of trading options and features, it is not particularly user-friendly. Investors may experience a steep learning curve with Binance depending on their experience and knowledge. It is by far ,a popular cryptocurrency exchange designed for experienced cryptocurrency investors.
Binance offers relatively low trading fees and a wide selection of cryptocurrencies for trade globally, though its trading options are more limited in the U.S.
What Binance Offers?
Binance offers hundreds of cryptocurrencies for global users. However, it’s important to note that the global Binance platform is different from its U.S. counterpart, Binance.us, which only offers 65+ cryptocurrencies.
Some of of the Key Feautures of Binance:
1) Low fees
Binance doesn't offer fee-free trading. However, its fees are low compared to even the best crypto exchanges that charge fees and commission. The highest spot trading fee is 0.1%.
2) Earn passive income on crypto assets
Binance offers various ways to earn passive income, with varying degrees of risk. You can earn up to 30% APR on certain cryptos in its staking program, or put assets into a flexible savings account for lower but more consistent rates. More advanced investors might try to earn income via adding liquidity on pairs of tokens, but it's important to understand the risks involved before jumping in.
3) Large crypto selection
Binance is one of the largest cryptocurrency platforms in the world. It gives users access to over 370 currencies and thousands of trading pairs. This includes decentralized finance (DeFi) tokens, stablecoins, Bitcoin (BTC), and altcoins.
4) Advanced trading tools
Binance makes it easy to set a limit order to buy or sell crypto at a specific price. It has a "convert" function for beginner users, and an advanced trading interface with charting tools for more experienced traders. Its Bitcoin futures section lets people speculate on whether the price of Bitcoin will rise or fall. It also sells leveraged tokens, which let customers multiply their positions in a particular currency. Trading with leverage is a risky strategy, because it can amplify losses and, in some cases, cause traders to lose their entire position.
How Binance Actually works?
Binance is a fully functioning cryptocurrency exchange with a huge range of services.
Binance Can Be used For:
Buy, sell, or trade cryptocurrency
Set up recurring buys
Earn passive income
Access advanced features such as crypto derivative products, limit orders, and peer-to-peer trading
Trade non-fungible tokens (NFTs)
Participate in Binance's Launchpad and Launchpool to get exposure to new cryptos
Access portfolio insights, plus live tracking and alerts
Keep track of your tax obligations with its tax reporting tool
Pros of Using Binance:
Low fees
Several ways to earn passive income
Wide range of cryptocurrencies
Advanced trading tools
Several ways to deposit money
Crypto-to-crypto or fiat-to-crypto trading
Over 65 tradable cryptocurrencies for U.S. customers
To Get Start With Binance ,Register Below