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Is Binance Scam: Why Choose Binance (Binance.com) Broker Platform?

Leon Kramer

ByLeon Kramer

Jun 20, 2023

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Binance Review
Binance is the largest crypto platform with extensive options and low fees. It has limited access to the US financial markets amidst regulatory concerns.
Trading Platform
94
Education
91
Payment Method
92
Safety
95
93
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Binance Review

Binance logo

Changpeng Zhao founded Binance six years ago, but Binance broker became the world’s largest cryptocurrency trading platform over the years. Binance trading platform provides a desktop and mobile dashboard with access to various trading tools and charts, with traders accessing hundreds of cryptocurrencies. However, it’s worth noting that Binance global platform does not cater to US clients due to regulatory disagreements.

Despite its incredible trading options and features, the platform is still user-friendly for newbies. Furthermore, seasoned traders can access various tools to analyze trades and confidently trade the financial market. This Binance.com review will analyze all there is to know about this crypto platform based on research and experience.

Binance website

Pros And Cons

Pros

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  • The Extensive selection of tradable cryptocurrencies provides ample options for crypto traders and investors.
  • Low fees compared to leading platforms allow users to retain more investments and earnings.
  • Wide range of trading options, including peer-to-peer, spot, and margin trading. Binance also offers various order types, such as limit orders, market orders, and trailing stop orders.

Cons

  • The platform can be a bit complex and overwhelming, especially for beginners or those unfamiliar with advanced trading features.
  • Binance does not have a built-in digital wallet, and users are recommended to use Trust Wallet, which limits the support Binance can offer when there are issues.

Fees

The fees charged by Binance are among the lowest in the industry. Fees on Binance are determined by a maker/taker charge structure, with lower fees applicable to larger trading volumes.

However, users can pay lesser fees by using Binance Coin (BNB) in transactions, referring others, or attaining VIP status.

Security

Binance.com broker platform provides several security measures to safeguard user accounts, such as two-factor authentication (2FA) using Google Authenticator or SMS, address safe listing, and device access controls.

Despite facing challenges in some jurisdictions, Binance aims to add more features to help its users secure their accounts. Overall, the company’s security services are good enough.

Binance security measures

Customer Service

Binance provides customer service via various channels, including ticket submissions, chat assistance, and Twitter support. Users can send a ticket for email support, use the chatbox on the Binance website for real-time assistance, or contact the firm via its Twitter account.

While some users have complained about inadequate customer support and issues withdrawing funds, others have had excellent experiences with the platform. Hence, it is no surprise that Binance’s consumer satisfaction ratings on Trustpilot are mixed.

Binance support help

Account Management

The Binance trading platform is available for all devices, whether desktop browsers, downloadable desktop programs, or mobile apps for iOS and Android devices. Thus, users have all the tools to browse market charts, monitor their portfolios, and access their trading history.

Furthermore, managing payment options, such as credit/debit cards and bank accounts, and deposits and withdrawals are simple with the Spot Wallet.

Binance And The Competition

While many of its competitors discredit Binance because of its regulatory issues, the platform continues to render the best services to its users. For instance, Binance has a more extensive array of trading assets and lower fees than Coinbase Pro.

Hence, it is no wonder that many users prefer Binance to many of its competitors, and the crypto firm has the largest user base among all crypto exchanges.

Final Verdict

Binance is a well-known cryptocurrency exchange that allows users to trade various digital assets. Its low fees and maker-taker model make it a tempting option for seasoned traders.

The platform’s complicated pricing structure, limited customer service, and regulatory problems, on the other hand, may put off novice investors or those looking for a more simplified experience.

While this Binance.com review has covered almost all there is to know about the Binance trading platform, interested traders should thoroughly assess their trading demands and weigh the benefits and drawbacks of Binance. Then, they can decide whether to start their trading journey on Binance.

Even though many Binance scam posts exist, our research shows that the platform is legit.

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Leon Kramer

Leon Kramer

Leon Kramer, a renowned financial author, enlightens Main Forex News readers with his deep understanding of currency markets. His years in global finance, combined with an intuitive grasp of trends, delivers insightful, up-to-the-minute foreign exchange analysis.

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