Binance is the best exchange to trade altcoins with one of the best security track records in crypto. It has an easy to use and understandable interface whilst still providing features such as a stop-loss function to please most traders. The platform has proven to be very reliable and never suffers from lag due to heavy volume. Their trading fees are also very low and competitive compared to other altcoin exchanges.
Binance Referral Code/ID & Link
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How To Use A Binance Referral Code To Get 20% Kickback
In order to use a Binance referral ID click on the green button above labelled “Click To Reveal Referral Code”. This will open a new window taking you to the Binance website as well as revealing the promo code below the green button. On the binance website click on “Register”. You will see the screen shown below, if it hasn’t filled in the referral ID automatically then copy and paste the code into this field.
If you have chosen to use our Binance kickback code, your 20% kickback rate will be displayed as seen in the screenshot below.
Binance is a Chinese company that got its start in Shanghai but moved its base to Malta following the Chinese government crackdown on crypto exchanges in late 2017 and early 2018. You might think that such a move would take the wind out of a company’s sales. However, since moving Binance has quickly shot up through the ranks of the world’s cryptocurrency exchanges and is currently ranked #2. Every week the exchange facilitates some $6-$8 billion in trades.
Binance is also a cryptocoin (BNB) that is among the world’s top 30 cryptocoins by market cap. BNB is used to fuel the Binance Ecosystem which is comprised of, among other things, a crypto learning academy, a charity and an incubator lab to enable all manner of blockchain powered projects.
Why You Should Open a Binance Account
Cryptocurrency exchanges often become victims of their own success. Remember, the job of the exchange is simply to bring together buyer and seller. By doing so, they earn a fee on each transaction. But when exchanges become popular their matching software can become overwhelmed, which causes delays in completing the transactions. Delays which, in real time, can lead to a missed opportunity.
The major strength of Binance is not necessarily the Binance coin. At least not yet. The major strength of the Binance ecosystem is the matching engine behind the exchange. It is capable of processing 1.4 million trades per second. That’s an astonishing feat for a crypto exchange and one reason why so many people have shifted their trading activity to Binance.
Other Advantages of Binance
Another important factor in determining if an exchange is a worthy place to conduct your crypto trading is liquidity. In short, if activity on a particular exchange is lagging, people will be reluctant to park their crypto there and liquidity suffers. That’s not the case with Binance, however. They have one of the busiest, if not the busiest exchange in the world. One that is bursting at the seams with Bitcoin and a wide variety of altcoins for the less well-heeled trader. The Binance exchange then is vibrant and liquid and an outstanding investment choice.
Yet another reason to open a Binance account is the reasonable fees. Opening and funding your account can be done without incurring any charges. And, while trades are charged a not so modest fee of 0.1% to begin with, over time those fees are gradually reduced. There is, however, a flat withdrawal fee you should be aware of that kicks in should you decide to move your coins into a private wallet.
Where is BNB Headed?
BNB is a relatively new coin, so its performance during the recent bear market was noteworthy. Because of its central position in the ever expanding Binance ecosystem, the BNB coin actually gained in value at a time when many cryptocurrencies were cratering. Some of that resilience no doubt had to do with the fact that you could/can use your BNB to get a 25% fee discount on the Binance Exchange.
But regardless of how resilient the BNB coin may be, the main attraction of Binance is the exchange itself. And while we have little doubt BNB willone day take its place among the premium crypto assets, for the time being its value is tied a bit too closely to the Binance ecosystem. Which makes it a coin to watch, but not much else.
Binance Introduces Margin Trading
Until now the main thing that separated Binance from its major rival Bitmex was that Bitmex allowed margin trading and Binance didn’t. Those days are now officially over. Although, true to their cautious form, Binance isn’t plunging head first into the margin trading deep end. Instead, they’re slipping into the shallow end with a max leverage multiple of just 3x.
That’s because the company understandsmargin trading at any level is risky. So they’re offering informational guides that discuss the risks, something they’re calling the “margin risk dashboard tracker” and visible, easy to understand disclaimers. All to go along with their conservative 3x limit. It’s believed that, in time, they’ll ease up a bit on the leveraging limits. But for now, it’s easy does it.
The Bottom Line
The Binance exchange has catapulted through the ranks of the world’s crypto exchanges in recent years for a number of good reasons. It’s safe, it’s affordable and it boasts what is probably the fastest trade matching engine in the crypto-verse. If you’re looking for a reliable, high liquidity trading platform from which to conduct your cryptocurrency activities, you can’t lose with Binance.