Binance Review
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Binance Review

Binance crypto exchange

Binance

Binance is the largest crypto exchange with the largest number of trading pairs. Binance operates worldwide, offering various crypto trading tools for buying cryptocurrencies with fiat money and quickly withdrawing income to a card.

Binance provides its users with access to 40 languages so they can choose any language on the exchange as well as trade their favorite currency, including fiat.

As the largest exchange, Binance offers the most options for its users. Users can use the professional interface of the exchange with a huge number of features, including analytics from TradingView, or switch the interface to “Lite” mode, which is understandable even for beginners.

The History of the Creation of the Binance Exchange 

The Binance crypto exchange is registered in Malta and is owned by a Chinese large company, Beijing Technology. The company is run by Changpeng Zhao, who previously headed the blockchain development department and was also one of the owners and CTO of the Chinese crypto exchange called OKCoin.

While working for OKCoin as a chief technology officer, the future creator of Binance began to think about his own crypto exchange. He decided to launch the crypto exchange in 2017 when the boom of ICO projects covered the crypto industry. During the crowdsale, the CEO of Binance collected the necessary $15 million in just a month. 

Initially, the platform had about 20 thousand users. The number of users of the crypto exchange grew dynamically, and at the beginning of 2018, the team of the platform decided to update the site to improve performance. This crypto exchange became the largest platform worldwide in terms of trading volume in January 2018. Since 2020, the average daily turnover of funds has exceeded 3 billion dollars and continues to grow.  Nowadays, trading volume on Binance is $11,790,101,729.

The name of the founder of Binance is constantly in the public eye. He was on the cover of Forbes and continues to enhance his empire. And the rest of the team are professionals with successful experience on Wall Street in the field of crypto, and the result of the team’s work speaks for itself.

Own Cryptocurrencies

Binance

Binance has two internal tokens – BNB and BUSD. The BNB coin is designed to support the platform ecosystem and has many use cases. For example, it can be used to: 

  • receive  up to 50% discount on transaction fees;
  • purchases of tokens in the Launchpad section;
  • use staking and receive dividends through Launchpool;
  • use as a gas in BNB Chain transactions;
  • pay for goods and trading services on the exchange.

BUSD is a stablecoin from Binance, pegged to the dollar at a ratio of 1:1. The coin can be used for trading, while transactions will have a zero fee for a maker. There is also no fee if you want to convert BUSD to other stablecoins or buy the coin with fiat.

Products

  • Exchange
  • Academy
  • Binance Live
  • Card
  • Charity
  • Labs
  • Trust Wallet
  • NFT
  • Launchpad
  • Research
  • Binance Pay
  • Binance Gift Card, etc.

Mobile and Desktop Application

crypto trading app

For the convenience of users, the exchange team has developed a mobile and desktop application. You can install the mobile application from the official GooglePlay and App Store, as well as on the “Downloads” page on the official website of the exchange. In the same section, you can find the desktop version of the application for macOS and Windows.

Fees on Binance

An important advantage of the site is the low fees, which are obtained due to unusually high trading volumes for 24 hours.

The basic trading fee on Binance is 0.1%, which is one of the lowest fees in the crypto market. At the same time, the rate can be reduced if there is a certain amount of BNB in ​​the account. 

But it is important to note that the rate on the Binance crypto exchange is floating, which means that each cryptocurrency is calculated separately. It is possible to get to know more about the fee rate on the crypto you are interested in at the link.

What features of Cryptorobotics can users use on the Binance exchange?

crypto exchange

Binance trading bots

Binance trading bots are software developed to buy and sell cryptocurrencies at the correct time and price. The purpose of this tool is to maximize profits, minimize risks, limit losses across multiple exchanges, and more. Cryptorobotics offers its users five types of trading bots for Binance:

  • Optimus
  • Cyberbot 
  • Trade Holder
  • Channeler AI
  • Crypto Future

Copytrading

Copytrading is a type of algotrading tool owing to which trades are copied from one account to another. This tool ideally works for beginners in the crypto market. If a trader does not know the market trends and doesn’t have an idea of how the market works, Copytrading helps him get the necessary knowledge and experience. In addition, many experienced traders also use this tool to create a new trading strategy or save time to study the market more deeply.

Autofollowing

Autofollowing is a completely automatic function. This function works as follows: The bot gets the signals from analysts and processes them. After that, it starts to open orders. Autofollowing is suitable for both experienced and inexperienced traders and allows them to get a passive income by monitoring statistics.

Crypto Signals

Crypto signals are ideas from professional traders to buy or sell crypto at a certain price or time. Crypto trading signals are based on some factors, including technical analysis, current market trends, and news. This function is capable of bringing to traders a high profit and improving their trading strategy.

Smart Ladder Orders

Smart ladder orders allow you to implement grid trading. This is a type of quantitative trading strategy where a function allows traders to automatically buy and sell cryptocurrencies in the spot market. It places orders at specified intervals and price ranges.

During grid trading, orders are placed above and below a set price, creating a grid of orders with progressively higher and lower prices. As a result, a trading grid is created.

Besides, every user can place OCOs, or smart orders (Take Profit, Stop Loss, Trailing) to eliminate the risks of drawdown of the deposit and increase profits. 

How to start trading on Binance via the Cryptorobotics platform?

To start crypto trading in the Cryptorobotocs terminal, traders should complete these actions:

  • Pass registration.
  • Create an account on Binance.
  • Link account to the Cryptorobotics trading platform.
  • Start trading.

Afterward, traders will be free to trade and get passive income if they choose algorithmic trading.

READ MORE: OKX Review

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Alina Sattarova

Alina Sattarova

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