Binance Review: Advantages and Disadvantages of Investing in Binance

If youre new in the crypto industry, you might have heard about Binance. According to experts in the crypto market, Binance is considered a trustworthy and reputable cryptocurrency exchange and based on trading volume, it is the biggest cryptocurrency exchange in the world.

Binance offers a variety of services such as:

Binance Exchange. Which allows users to exchange currency for other coins.

P2P. A peer-to-peer (P2P) trading service that actively connects buyers and sellers of cryptocurrencies. Payments are made easier with several payment methods that it offers, all of which are based on the preferences of the consumers.

Debit or Credit Card. To offer a brokerage service that accepts credit and debit cards, Binance recently teamed with Simplex. With this service, you can use a debit card or credit card to purchase a variety of cryptocurrencies and deposit funds into your account.

To provide US consumers with lawful and stress-free trading activity, US users can instantly deposit USD into their accounts and engage in direct currency trading. In addition, Binance has minimal costs that are capped at only 0.1%. To outperform its regional rivals, Binance.US even offers zero-fee trading on Bitcoin trading pairs against the US dollar.

Here‘s Binance standing via WikiBit’s App:

As of writing, no complaints can be reported in the Apps comment section.

In terms of Customer Service, Binance has a comprehensive FAQ section on their support page that will help you with the majority of issues you might run into. There's also an automated bot available to assist you in finding the solution to your issue. You can ask to chat with a customer support agent if it doesn't work.

Furthermore, Binance has minimal fees compared to others alongside 25% trading discounts if you pay via Binance Coin (BNB). Theres also a statement portal for your tax which will guide you through your crypto taxes. Although, a few of its downsides are unavailability in some States, lack of details regarding their security assurance, and their 10$ minimum trade.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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