Binance Exchange Review
Binance is the biggest cryptocurrency exchange when it comes to daily trading volume. Despite being very limited in the United States, Binance is a leader when it comes to cryptocurrency exchanges. Binance has been growing constantly each year, resulting in an increased number of users and transactions each month.
- Low Fees
- Number of Listings
- Not Available Everywhere
- Verification Process
Initially, Binance began its journey in China, a country that has grown to become hostile to cryptocurrency. That is why Binance is currently decentralized. This information was unveiled by Changpeng Zhao – also known as CZ Binance – in May 2021. From the year Binance left China, in 2017, this company set up its offices in Japan and Taiwan and then moved to Malta.
However, according to CZ, Binance operates in a decentralized manner when it comes to headquarters. Some people work from home, and some from their offices in one of the countries the exchange operates in. So, there is no definite headquarters of Binance. Although it has no definite HQ, Binance is registered in the Cayman Islands.
“Is that an office where people sit? I worked from home for the last three and a half years. Our leadership team are not sitting in one office, we don’t have a clear place where we can go by most people’s normal definitions of a headquarters that we can call a headquarters.”CEO of Binance when asked about Binance’s HQ
Binance Exchange Features
As we said before, Binance Exchange is the biggest cryptocurrency exchange in the world. As per early 2022 statistics, Binance has more than 30 million active users. This cryptocurrency exchange has an average daily trading volume of $10 billion and it was responsible for $7.7 trillion in last year’s overall trading volume.
With that being said, Binance has numerous features that make it stand out. Not only that, but this cryptocurrency exchange makes sure to deliver its products and services in the best way possible. To make it easier for users, Binance Exchange offers two modes of its platform. Its Lite version has an easy-to-use UI, while its Pro version has a better UX, giving pro traders more options.
Binance offers these deposit and withdrawal methods:
Moving on, Binance supports more than 40 fiat currencies. This makes it a great exchange for countries around the world, including third-world countries. Just recently, CZ Binance has started a journey of visiting less developed countries and working closely with them. This might spark a new wave of adoption in the coming months.
Other than that, Binance supports over 386 coins and has more than 1600 market pairs available in the market.