Is binance the best exchange for traders?

Published on 28 October 2022 at 20:52

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Is Binance the best exchange for traders?

We are looking for the best exchange in the world. Binance is in the top 3. But why is Binance in the top 3 best crypto exchanges? We look at why traders think this is the best, but also at the costs, user-friendliness and more. At the end of reading you can also participate in a Bitcoin giveaway. But first, let's talk about why Binance is top rated by traders in the crypto markets.

 

What is Binance?

Binance was one of the first crypto exchanges. A crypto exchange is a platform where you can buy crypto coins. Binance has a wide range. Binance is widely used by traders.

Because there are many altcoins and bitcoin to trade with low costs, it attracts many traders. But investors also use the platform because the crypto wallet is clear and Binance is clear. Binance also sometimes has exclusive giveaways.

 

Trader experiences about Binance.

Because Binance can properly assess whether Binance is the best crypto exchange, we have to research many different things. We deal with several points. But what traders themselves think is the most important.

 

We looked at how Binance has been rated and what the pros and cons are. Many users find Binance clear and reliable. They also think they can do a lot. They regret that the stop loss order is not complete with what they want to use.

 

binance trader experiences

Reasons why Binance is the best exchange.

Besides that the opinions of Binance users are positive, it is also important to look at the facts of Binance. We compared them with 10 crypto exchanges and looked at many points. Below you will find the main reasons why you can use binance as an exchange. We have noted the most valuable points so that you can see if Binance is suitable for you.

 

Low trading costs.

The trading fees on Binance are extremely low. You pay 0.1% fee per trade. That's low.

There is a possibility to pay 0% fees and in some cases you will get 20% of the costs back. If you have created an account through our page. Click here to trade for free at no cost.

 

Clear overview.

Binance has a very clear overview and is clearly laid out so that it is easy to understand. In the beginning you probably don't understand what to do but as you use it over time your knowledge will get better and better.

 

If you are going to learn to trade there are many important tools. The only drawback is the stop loss that there is no stop loss market. Binance is still one of the best crypto exchanges in the world. It is also the best exchange in the USA, Europe and all over the world. If you have yet to start trading. We recommend that you read the basics here to avoid the first mistakes.

 

Futures trading binance.

Binance also has several tools. There is a tool that is really useful for traders who know what they are doing and want to make more money. The binance levradge tool is ideal. There are several crypto currencies where you can start using this tool. Binance Futures was founded in 2019. With futures you can bet more money than you have. So it is levradge trading.

 

They have kept this separate to suit beginners and experienced traders. Which means you can earn more but also lose more. That is why it is important to know it well before you start trading the futures on the best exchange in the world.

 

Binance trading bots

Negative points of Binance.

When it comes to a good assessment, not only the positive aspects count. To find the best exchange where you can trade, you also have to look at what is bad. Every exchange has something that could be improved. That's how Binance has it too. After the negative points, Binance is the best exchange in the USA and the rest of the world.

 

No stop loss market order on Binance.

A stop loss is important in trading. Unfortunately, Binance does not have the best stop loss order that is necessary for trading. A stop loss market order does. There are alternatives to the stop loss, such as a limit stop loss.

That means that with this stop loss order you have to select a price that the price has to pass to activate the stop loss with the limit price. The disadvantage of this is that if you put them too close together, the price will rise too quickly due to the price.

 

Therefore, in terms of stop loss, Binance is not the best exchange for traders. Because the stop loss is never 100% certain. Do you think the stop loss is important? Then take a look at Bybit. Bybit is an exchange that resembles Binance but has a stop market order.

 

Which crypto currencies I traded on Binance?

On Binance there are many different crypto currencies that you can buy for your investment or for your trades. Binance has more than 350 crypto currencies. The best and most used altcoins are briefly explained below.

There are also several stable coins and we will let you know which is the best stable coin to use.

 

Bitcoin trading on Binance

Trading Bitcoin on Binance is easy. Bitcoin was the first crypto currency that could be traded on the market. This was also the first coin on Binance. A Bitcoin is most commonly used to make money with it. That is why it is also the most traded creypto currency.

At the best crypto exchange you do not pay any trading costs if you create an account for this crypto currency through us.

Bitcoin mining binance

Altcoin trading on Binance

All other crypto currencies are called altcoins. An altcoin is also traded a lot. An advantage is that the smaller the altcoin is, the more % they can rise and fall. That also means it can have a downside. The most traded altcoins are briefly explained below. It is not advice to buy.

 

Ethereum on Binance

Ethereum is the largest altcoin. This one is also the most expensive to buy. This is the most used coin of the altcoins. This coin was founded in 2015 by Vitalil Buterin. Ethereum is also called Ether with the abbreviation ETH.

 

ethereum on Binance

BNB Binance coin on Binance

A Binance coin is a crypto currency that is also known. This coin was developed by Binance and was released in 2017. Binance coin can be traded. Binance has developed this coin and can use it to pay your fees.

There you save 25% on your trading costs. That is what the coin is officially intended for. These are available at many crypto exchanges, but the bonuses only apply to Binance.

 

Cardano ADA on Binance

A cadeno is a crypto coin that was released in 2017 on the blockchain. Who owns cardano? That is unknown. The abbreviation of this crypto currency is ADA. A cardano can be used to earn money and is in the top 5 thanks to the most recent bull run.

 

Other altcoins that can be traded on Binance.

In addition to these 3 crypto coins, there are more than 380. We have briefly summarized the 3 largest. All altcoins can be found on binance. The best crypto currency on binance for traders is Bitcoin. If you are experienced with trading you can look at altcoins. We recommend bitcoin for beginners because the price action is different from a bitcoin and you can lose more money with altcoins.

 

Which stablecoins can I use on Binance?

A stable coin is a crypto currency that has a stable price. This is just like a normal euro or dollar. This is a fixed currency that a crypto trader is paid in. At the best exchange it is important that this currency is there. Binance has many different stable coins. Binance also has its own stable coin called BUSD. BUSD stands for Binance USD. This is displayed with many crypto coins to choose as a pairing.

Theter stable coin prices

Why use Tether instead of USDT?

A stable coin that is used at every exchange is Tether also called USDT. This is the bitcoin of the stable coins. By that we mean that this is the largest and most important. That is why we recommend these because they can be used with all crypto coins. You can also easily send money to and from exchanges without exchanging your stable coins. Therefore, Tether on binance is the best to use.

 

Do you want to trade on Binance?

If you want to trade on binance you can save a lot of costs. If you create an account with us you do not have to pay any trading fees on spot trades. On the other trades you get 20% of the costs back. In addition to this bonus that everyone gets, you can also register for a giveaway. If you start trading on binance you can have a lifetime chance to win $1500 in Bitcoin.

The more trades you place the more chance of winning you get. You automatically participate every month of your life.

Click the Binance logo to create an account.

And get your free bonuses.


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