Binance The Ultimate Trading Platform

This blog is designed to do a full analysis of the trading platform from Tokyo. The name comes from Binary + Finance = Binance meaning "Binary with Finance".

Binance has experienced tremendous growth, by the time this was written they hit 5 million users! It also reached it's Q4 2018 goal of being the #1 crypto exchange by January of 2018. They provide users access to hundreds of digital currencies pairs on their platform while maintaining security, liquidity and high-speed. They have one of the lowest costs in the industry at 0.1% or 0.05% fees by using their BNB Token. Their token called BNB which is now trading at $20 a token is also part of the company's recent success because it opens opportunities for capital growth and development within their own platform.

The company started in China but when they banned cryptos the company moved their operations to Japan to help the growth and support of its user base. The platform supports a lot of different areas to make easy to use, and helping users from all over the worldwide to trade cryptos.

Here is a list of benefits the platform offers:
-Safety Stability Multi-tier & multi-cluster system architecture
-All Devices CoveredSupport Web, Android, Html5, Wechat, PC
-High Performance capable for processing 1,400,000 orders / second
-Multiple-Language Support: Chinese, English, Japanese, Korean
-High Liquidity, Abundant resources, and partners
-Multiple-Coin Support (Pairs) BTC, ETH, BNB

Binance's Success!

The success starts with its creator Changpeng Zhao. He was the former CTO of OKCoin who left the company as a warning to the rest of the crypto community that had a shaky relationship with Roger Ver. The company owned him thousands of dollars and violating his terms thus to start his own company.

He brought together a team of individuals who are experienced in the crypto industry. A lot of the team comes from other well-known companies like Morgan Stanley, SBI Group, Accenture, etc. Although the team has access to a number of resources and partnerships, Binance has a huge chance of growing further.

Challenges

The company has growth problems, struggling to not crash when the volume is high, lack of support when customers issue tickets, and putting a halt to new users registrations. In a recent interview from Bloomberg, Changpeng Zhao shared his remarks about the companies success and its challenges.

The Platform

Binance's trading platform is all web-based, with the addition of mobile apps for both Andriod and Apple (IOS). They Include two views of trading. A basic view and an advanced view. The Advance view with a better layout shows different indicators when trading.

The advanced mode shows more of a sophisticated trading interface to help traders make better buying and selling orders on different cryptocurrencies. Binance is capable of processing 1.4 million orders/second, but with the huge demand, there might be crashes here and there. Using the mobile app is important due to these high levels of trading. Users should expect a clean UI design interface that can help the experience of trading easier. The last bonus to this exchange is the low fees in order to use the program.

The Fee structure is pretty simple and makes it easy for people with small amounts of capital to invest and start trading. Since Binance is the leading exchange, new coins were introduced to Binance have huge upside in growth and demand. For example, Binance released a new coin (VIBE) and the price rose up by 350%, then down to a 100% growth compared to other exchanges. Impact of Biance is real, and any other exchange will have a difficult time catching up.

Overall Rating 9/10

The Idea of having your own coin, great interface, a lot of alt coins to choose from, accessibility and volume makes it one of the top-rated exchanges in the industry.

PROS
Binance Token (BNB)
User friendly interface
A lot of alt coins to trade
Faster trading and high volumes

CONS:
No Fiat to deposit for trading
The business is in Hong Kong
During High volumes, platform could crash
Not for beginner traders
Low customer service due to hyper growth
Low Fee's

It has a lot of upside so here is the link below to join the exchange:

Join Binance

So finding a great community of people to get to know and help you be on top of these cryptocurrency space can really help you grow your investment opportunities. Be sure to read a lot of information, watch Banking on Bitcoin, and connect with fellow Crypto Investors in the community.

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