Binance Exchange

Binance was founded in 2017 but, following a strong IPO in June, initiated a series of steps to bypass China's cryptocurrency trading ban, the first of which was a move to Japan in 2018. As a result, they were able to rapidly expand, and later established offices in Taiwan, Jersey, Uganda, Malta and more. Some locations are supposedly kept private for security concerns. Today, Binance offers 150 different cryptocurrencies and numerous trade options along with the usual spot and margin trading options.

One of the main advantages of Binance is the low fees: the basic trading fee set at a mere 0.1%. This can be brought down further to 0.75% by holding BnB. After that, there are incremental reductions in taker/maker fees that reflect the amount of bitcoin held on the user's exchange wallet. Binance is an excellent choice for first-time traders too as it has zero fees for fiat deposits and withdrawals, which can be a costly entrance barrier for small-time traders. When making FIAT deposits via bank cards (VISA, MC) the fees are set at 1.8% for GBP, and 0% via instant BACS and SWIFT transfers. In order to increase deposit and withdrawal limits to 5,000 USD per day. As it goes, Binance has some of the lowest fees and spread of any exchange.

The platform is also incredibly secure, making it a great exchange for storing and trading larger quantities. When Binance was hacked in May, $40 million in Bitcoin was stolen from its online wallets, and every dollar was returned to users.

Binance also offers one of the widest ranges of Cryptocurrencies, with 150 different coins on offer in addition to a number of novel futures trading options, leveraged trades and a decentralised exchange called Binance DEX that is separate from their main centralised exchange.

Binance's manoeuvrability and vision have made it a key player in the world of cryptcurrency trading. Its multinational bases and huge trade volume make it one of the most well-respected establishments in the space. We expect its reputation will continue to grow: with Binance, your funds are safe and are likely to stay safe, and well-insured. This is less than we can say about a number of other exchanges.