![]() ![]() Binance have started to heavily promote the platform and offer fat bribes to projects as incentive for migrating their activities from other platforms over to Binance Chain, and Ethereum is among the platforms from which most projects are being solicited. Another notable feature of Binance is its recently launched Binance Chain, a blockchain-based platform with Smart Contracts capability, which welcomed the exchange's token BNB in open arms as its native currency. Other exchanges frequently copy Binance's moves since they proved themselves so effective in growing the exchange, and we don't see these stopping anytime soon. Binance also recently introduced margin trading, although it is currently far from being intuitive, with difficult to understand funding mechanisms, insufficient support documentation and no ability to lend funds, only borrow. On the features front, Binance's twin champions are its immense amount of assets available to trade and its trading incentives, the first is maintained using the exchange's constantly shifting regulatory status, which allows it close to full autonomy when choosing which assets to list, and the second is the winning combination of its token, BNB, and trading competitions and promotions, which make use of newly listed assets, the token BNB and other mechanisms to promote user trading on the platform. True, theses systems are not without their faults, and we have seen some cases of Binance going under unplanned maintenance, although it has always explained the reasons for that after-the-fact and are improving from incident to incident as a leading corporation should. Binance's performance is as good as it has to be: for an exchange that supports millions of users and a mind-boggling amount of transactions each second, Binance has built adequate infrastructure to support it all, and it is holding up surprisingly well when you take into account the immense loads put upon it. This is a bit concerning, and we will further expand on it when we reach the Team score. The only downside to Binance's user experience is its customer support: When we contacted them, requesting information about their team, we received the reply: "CZ is the team". We believe Binance's workflows are indeed among the best in the industry, and it easily gains a high score in this category. Starting with the User Experience, Binance has managed to create a seamless experience from its launch, and is continuing down this path these days as it redesigns the entire website and incrementally allows more users to test out the new interface. One important thing to note: no exchange is perfect. We'll take a look at what makes Binance so attractive, and the reason it ranked as high as it did on our rating system. Would you like to learn more about blockchain or cryptocurrency? CLICK HERE It consistently reigns as the volume champion, boasting trade volume numbers all other exchanges can only dream of - and these volumes are believed to be mostly genuine, which means the exchange does not manipulate numbers for higher rankings like other shady exchanges do - it simply doesn't have to. Following its successful ICO in 2017 and subsequent launch, it seems to have made all the right moves to position itself as "the native crypto-trader's exchange", which is to say that most people choose Binance for their trading or investing activities over practically all other exchanges. Keep all of these recent developments in mind when reading the below review.īinance is probably the world's most important crypto exchange today. On July 15, Coindesk shared the news that Italian regulators were saying the exchange was not authorized to provide investment services in Italy. On July 13, Coindesk reported that Binance had halted sterling withdrawals, following Faster Payments ending their agreement with the exchange in response to the UK ban. On July 2, The Block reported that following the UK ban, the Cayman Islands was investigating Binance's activities in their country. Potential users are cautioned to consider the risk that the exchange may cease operations in your country.Īccording to CNBC, Binance was banned from operating in the UK, effective June 30, 2021. ![]() Binance Exchange Review Centralized Binance Exchange Rating Analysisīinance is currently under intense scrutiny from multiple regulators around the world. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |