Wednesday, May 22, 2024

Is Binance Exchange really the best trading exchange right now?

Binance Exchange started its operations 2 years ago in shanghai and is among the most popular trading exchange in the world. It only supports cryptocurrencies and can process nearly 1.4 million orders each second. It has a very friendly user interface which processes data super-fast. Binance operates in multiple languages and deal with all the cryptocurrencies at the same time. But most of these features are present on other platforms as well, so what really makes it the best? In this age of competition, one needs to be super-efficient to stand out among all.

  • “B” for Binance , “B” for best:

I wish it was that easy to call someone the best. The decision for superlative is degree is never easy to take. In particular case of Binance Exchange, it has its own pros and cons. But there are certainly some features which makes Binance one of the best, if not the best among all.  For instance, the speed of execution is way more than any other exchange. The speed with which Binance processes the order, dispatches and transfers it is amazing. The difference in the speed can only be seen if you have already tried other exchanges. Moreover, it is very straightforward to exchange and work with. Extra benefits can be attained if you own Binance coins. The exchanging fees are way too less, which makes it even more attractive place to come and do business in.

  • The other side of Binance, the cons:

Nothing is perfect in this world, isn’t it? Though, all the features Binance provides, makes it look inch-perfect. But, it isn’t so. There are some cons attached to it. Not so many, but they are significant ones for sure. For instance, you can only buy very limited Binance coins and trade with it. Moreover, it only trades in Cryptocurrencies which leave the boundaries very much confined. Being a China Base Exchange, some documents are in Chinese which become hard to understand at start. Moreover, if you are a US resident, it would not be easy for you to register straightaway due to its regulations.

  • Binance is not Perfect, but Perfection can be boring at times:

Binance exchange brought some revolutionary features with it. Before Binance, one must remember the exchanges like that of Coinbase which were rather slow. Some were really sketchy and poorly organised. Some came and disappeared overnight. So, Binance actually set the standards very high to be competed with. Now, many other exchanges are improving their functions and operations to remain alive in the race to be ahead of others. All in all, Binance may not be the best but is the most popular and viable exchange website operating right now.

Monesh Kumar
Monesh Kumar
Monesh Kumar is a cryptocurrency and blockchain enthusiast. He trades cryptocurrencies and holds some but he prefers holding Bitcoin, Ethereum & Cardano.

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