Is Binance the Best Exchange for Crypto trading?

[yvesp110]

Binance is best exchange in the market the main reason is binance trading platform have lot of features to list new coins and binance internet research team keep track of their developments and list those companies and delist time to time and even volumes also good for trading

No doubt Binance has been one of its kinds and has been the best exchange of the crypto world since the start of the crypto era. There is around more than 90% of crypto users on Binance who trade and buy Bitcoins and other coins over the exchange. Binance is kind of monopoly right now though it has not yet shown its power in imposing some sought of decision over the rest of the exchanges.

[doedz]

Binance has a good strategy for gaining trust. Then IEO became the latest innovation so that binance got a new community.
Some IEOs are as successful as BTT, even though they were hit by the issue of binance hackers able to survive and get through the storm.

[Twinkledoe]

Depends what you're looking for. I trade with margin and I don't want to perform KYC to do so, and as a result I use Bitmex or Deribit to do the majority of my trading. I do also trade altcoins somewhat often, and without KYC, so the go-to when I want to do that is Binance as I've always found everything there to be decent.

Yes, it all depends on what are your priorities at the moment when you do the trading. However, there are altcoins that you need to trade yet, they are not available in Binance, so you don't have a choice but use the exchange where it is currently trading. I do agree that BNB really established their credibility in the trading aspect but not all coins can be found in that exchange especially the small ones.

[jhongzjhong]

I smell that OP just like having the ads on here about the blog that he posted. Well, I think that is true that Binance exchange for crypto trading is the best and if this isn't who else other the best than Binance. But depending on you if what you are looking for in exchange, but for me, I am looking at those high volume of coins and there's a lot of altcoins selection to trade. Fast and reliable service and of course less customer complaint.

[maxreish]

The reputation of binance has since waned after the hack, kind of cast a shadow of doubt on users that there is significant risk involved in using binance. I don't think they are the best because security is paramount when it comes to security.

If not Binance, then who is the best? Binance has good support and neat UI. It is easy to register and use this exchange. Plus is supports multiple languages of UI and has a mobile app.

No doubt about it. I personally believe based on my own experiences that Binance is a good exchange compare with others. And also, since I am a mobile user, binance is a mobile friendly. When it comes to security, well the recent hacked issued was already resolved and we can't prevent hackers in some exchanges. The good thing is that the CEO, assured the users to give back what they've lost.

[Free1bitco.in]

well, nowadays, binance is indeed one of the most popular exchangers, and a favorite for many people. I feel, binance is currently the best exchanger, from other exchanger available. however, this is only a matter of time, I think, there are so many exchangers that have the potential to replace binance. if binance has a slow development, I think it will be replaced.

[darewaller]

Hi Everyone!

We wrote up a review for Binance to try to answer the question "Is Binance the best exchange for crypto trading?" We would love to get your feedback and hear which exchange you would like us to review next!

https://blog.shrimpy.io/blog/binance-review

Thanks,
Shrimpy Team

For now, they remain most traders heart desires because of the strategies they have put in place that makes trading very fun for traders and their users, they have lots of incentives they do give their users and some traders too, they still have the most user friendly trading platform, and also the fact that they are very considerate, in the sense that they made virtually all their fees very low for anyone to moderately carry out his or her trading/ exchange activities using their platform.

It is really of no doubt that Binance remains the number one crypto exchange ever since they came into the market. If there was unity or regulation in the crypt yet, I am sure there would have been a program to award exchanges, and believe me, Binance will virtually all the awards.

[quality.crypto]

When you compare with the other exchange i hope Binance is the best to exchange for trading coins, many people have a very good opinion about the Binance exchange due to because they will always list potential coins in their exchange. When they exchange got hacked they have given the funds back to their customers till now no exchange has given back their funds through theft.

[arpon11]

Binance has been in the news for good and i have never read any negative review about them or any one rightly accused them of scamming or dubious activities and that is why when the platform get hacked last time people and investors renew their confidence on binance by investing and keep on trading and we see the infect of that on bnb coin. Binance is one of the best cryptocurrency trading platform and I place it in the class of poloniex, bitfinex, bitstamp, bittrex and kucoin. I like binance platform because it contained a lot of new tokens and coins.

[johncarter123]

It definitely is one of the biggest exchanges in terms of volume and trading activity, but if it is the best? That is very subjective and comes down to user preference. For example, I tend to avoid trading on any sort of centralized exchange such as Binance as they have much higher security risks.
Furthermore, questions are rising around centralized exchange’s orderbooks remember that as they control everything in their own backend, they can easily manipulate prices by making trade volume appear out of thin air. Just look at Bithumb being accused of insider trading for example: Bithumb exchange accused of insider trading. As we can see centralized cryptocurrency exchanges witness all the same problems as the traditional financial institutions on wallstreet: insider trading, manipulation and wash trading. They have indeed become the very thing that cryptocurrency was created to solve!

Luckily we also have the decentralized Cryptocurrency Trading Software! Here users can safely trade with the knowledge that orderbooks are completely on chain and cannot be altered. Furthermore in most cases decentralized exchanges operate in a peer-to-peer platform, meaning traders trade directly wallet to wallet without ever giving up control of their funds. Sure the age of decentralized exchanges is just starting, and volume may be a little lower, but it is only by adopting their use as the new standard that we can solve the true corruption that plagues our financial existence.

[malevolent]

For now, I think they are the most trustworthy cryptocurrency exchange out there, at least they don't lock people out of their accounts like most exchanges do without a good reason. Time will show which direction they will head in as their business matures and starts accepting fiat currencies. That usually doesn't bode well...

[DoublerHunter]

I secondly agree on previous replies that Binance as of now is the most trustworthy exchange among others even though they will encounter last month of hacking incidence on their cold wallet but so far it doesn't have an effect on the market. Majority of traders use Binance because of widely subscribers/users in Binance that's why the volume of each coin is pretty high. Their services also had less complaint especially on withdrawals, so therefore they still the best crypto exchange now.

[slaman29]

Depends what you're looking for. I trade with margin and I don't want to perform KYC to do so, and as a result I use Bitmex or Deribit to do the majority of my trading. I do also trade altcoins somewhat often, and without KYC, so the go-to when I want to do that is Binance as I've always found everything there to be decent.

Bitmex lets you trade margin without KYC, are you very sure of this? I thought Bitmex was one of the most KYC'd crypto exchanges? I keep reading about people being asked to verify (and in their terms of service they also say they have the rights to ask for this at antime).

Binance on the other hand lets you trade as a non verified account with no restrictions except a daily withdrawal limit of 2 BTC. That's $22k daily!

[malevolent]

Bitmex lets you trade margin without KYC, are you very sure of this? I thought Bitmex was one of the most KYC'd crypto exchanges? I keep reading about people being asked to verify (and in their terms of service they also say they have the rights to ask for this at antime).

They used to be KYC-free, but they will now demand KYC if they suspect you're from a jurisdiction they don't want to have people from such as the USA, Quebec or North Korea.

[mersal]

Hi Everyone!

We wrote up a review for Binance to try to answer the question "Is Binance the best exchange for crypto trading?" We would love to get your feedback and hear which exchange you would like us to review next!

https://blog.shrimpy.io/blog/binance-review

Thanks,
Shrimpy Team

Yes it is,but they are also even faced security breach recently which made me to feel that no crypto exchange is best in the security but for the trading purpose they can be good but we need to move the funds to our wallet soon after the trades done or we need to worry about the hacked account later.

[Arkham Knight]

Of course, not. I can name 3-5 exchanges that have the same service and UI similar to Binance. It's like Binance is the Apple of exchanges, get it? It has the charisma and image of a business that has become the word of the mouth of traders. I even read some comments of people praising that exchange saying that it's the 'x10' exchange.

[dat.ho12492]

I secondly agree on previous replies that Binance as of now is the most trustworthy exchange among others even though they will encounter last month of hacking incidence on their cold wallet but so far it doesn't have an effect on the market. Majority of traders use Binance because of widely subscribers/users in Binance that's why the volume of each coin is pretty high. Their services also had less complaint especially on withdrawals, so therefore they still the best crypto exchange now.

Indeed, binance exchange is currently the best exchange until the present time when the quality of services and trading volume per day is an extremely impressive and very good figure, and one thing we can observe very clearly is that they never accept stop, every day is a development with them. And except for providing services, they provide opportunities and open doors to attract investors with new strategies, from the creation of coin exchange to IEO projects, they are always creators and leaders, they are really the best.

[onrise]

Of course, not. I can name 3-5 exchanges that have the same service and UI similar to Binance. It's like Binance is the Apple of exchanges, get it? It has the charisma and image of a business that has become the word of the mouth of traders. I even read some comments of people praising that exchange saying that it's the 'x10' exchange.

For now Binance is one of the bets exchanges and consumers are using it very much and liking it as well. The growth of the exchange can be easily observed as well as their coin BNB has being gaining a huge momentum based on its exchange and thus really worth it.

[The Sceptical Chymist]

OP, I didn't read your blog post but I'm going to comment on this anyway.

I've used probably only a handful of exchanges since I've gotten into crypto, with Cryptsy and Coinbase being the first ones, followed by Yobit, Poloniex, Kraken, and some of the "instant exchanges" like Changelly and ShapeShift.  Out of all of them, I'd have to say I've had the best experience with Binance and after they got that 7000BTC stolen from them recently and didn't run away with all their customers' funds, I have faith that they're the real deal.

In addition to that, they have a great-looking website which is very easy to use, and I've never had any trouble with withdrawing my funds.  The only thing that annoys me is all the layers of security just to log in, but that's not a huge issue.  The only problem now is that I don't have access to my cellphone and can't receive the SMS code to access their site.  That's truly a pain in the ass.

But I'd have to say that definitely Binance is probably the best exchange out there right now.  If anyone knows of a better one, I'm all ears.

[yvesp110]

Binance is best exchanges in crypto trading and I believe even we do survey people will agree and accept the fact that Binance is best.
For now there is no exchange that can beat binance as best exchange. Let said this exchange hack but it still best because of the different features that they that don't have in the other exchanger so I choose the Binance in all exchange.

Yes it has been the best exchange so far and this is what the users of the exchange claim. They use its services and they say that it is worth putting in your trust in the exchange. I think 90% of the crypto users are on Binance according to a survey. In addition, a loss of value due to flaw in the Binance system is compensated by Binance unlike any other exchange.