Why is Binance Popular?
Binance opened its virtual doors in 2017 and has since become one of the most popular crypto exchanges worldwide. While there is no shortage of great exchanges, Binance remains the go-to for investors of all experience levels. Here's why.
Crypto Offering
One reason why people love Binance is because of the wide range of cryptocurrencies available. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens. Find prices for well-known coins and countless lesser-known alternatives. You can even check the BNB price, Binance's native token.
Binance also supports many fiat currencies and over 1,500 markets. Thanks to the sheer availability on Binance, it's a great exchange to do all your investing. Instead of hopping between platforms, you can turn to Binance for most of your trading activity.
Impressive Trading Volume
Many traders pay attention to trading volume. A higher trading volume means that investors can buy and sell crypto quickly. It also ensures traders can execute large transactions without worrying about price slippage and other issues.
Binance has one of the largest trading volumes of any exchange in the industry. The latest estimates show the Binance exchange has about $76 billion daily volume.
Affordable Fees
Fees are another concern. Excessive fees can significantly increase trading costs, eating into an investor's gains. While all exchanges have trading fees, Binance has some of the lowest!
Fees can vary, but most are about 0.1 percent of the transaction value. That's impressive on its own. However, traders can lower the fees even more using the native Binance coin. Investors can check the BNB price on the exchange, invest in the coin and use it exclusively for transaction fees to keep their costs as low as possible.
User Experience
Finally, we must recognize the experience of using Binance. The exchange is well-designed, including many features that improve accessibility and navigation. It's a joy to you, cutting through the fluff of other difficult-to-use exchanges to create a smooth and efficient trading experience. Binance is also available in many languages and has a companion app for trading on the go.
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