I am always blessed to see more exchanges popping up ter the cryptocurrency sphere. Te my mind, more exchanges means less chance for large entities to proceed consolidating power. This is, after all, supposed to be all about decentralization, not centralization. One fresh exchange which wasgoed the spawn of a very successful ICO earlier this summer is Binance, headed by Changpeng Zhao. The Binance ICO raised just about US$15 million, and the company seems to be putting all that specie to good work.
Successful ICOs Can Set Up Successful Companies
This is one of the ICOs that did it correctly. The company wasgoed not just looking to raise a substantial amount of metselspecie te dumb money and then take a long time (if everzwijn) to waterput out its product. Zhao even published an eloquent blog postbode on LinkedIn te which he described the importance of being sultry about whatever your ICO project is. That alone puts Binance te a better position than many other projects and platforms. Sure, it wants to make money, but its team also is sultry and calculated about the toneelpodium.
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Binance Is Pretty Good
I will be the very first to admit, I can be very weary of exchanges. Some of the fatter ones have left mij burned te the past and onveranderlijk rumors of insolvency or canap runs make mij jumpy. However, Binance does not strike the same chords for mij that others have done. Here’s why.
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Firstly, its liquidity is very high, which is exceptionally significant for any exchange. Liquidity ensures that orders are packed quickly and lock ter the prices for which traders had hoped to buy or sell. The exchange also voorkoop to have outpaced the industry standard for processing speeds. Tho’ still a smaller exchange, this one boasts numbers that are extraordinaire. Binance is responsible for about US$Ten million te trading volume a day .
The exchange itself provides a entire host of devices that help traders make decisions, and the user practice (UX) is pretty fluid. One of the most appealing things about this exchange – for mij, at least – is its knowledgeable and strong leadership and team. CEO Zhao and his team are obviously committed to providing a quality product to their customers, and I truly appreciate that. The level of practice that Zhao and his team brings to the table truly sets Binance chic from its competition.
Every exchange is going to take a cut to make a profit. I am not indeed bothered by this, spil I know it is providing a service. However, it is significant that investors and traders alike do not get taken advantage of with fees. Binance’s trading toverfee is 0.1%, which is not too shabby. Binance is also see-through about its toverfee structure , which is more than fair. With cryptocurrencies, it is also significant to recall that on top of exchange fees, the user is responsible for miners’ fees spil well. Again, Binance provides upfront and fair information about how much traders can expect to pay up when they withdraw.
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Overall, I rate this toneel spil a pretty good exchange. It may not have the same volumes or number of supported currencies spil some of the larger ones, but it makes up for that te fair fidelity to its project and customers.
Check out Binance here: https://www.binance.com/
This is not trading or investment advice. Always conduct your own independent research.