Binance - Fastest growing exchange in the cryptocurrency market

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At this point in time, the digital currency exchange market is filled with a wide variety of choices, therefore choosing the right exchange or trading platform can be quite a headache for both novice and veteran cryptocurrency users.

Binance is one of the fastest growing exchanges in the cryptocurrency market currently having more than 6 million users. The surging popularity of Binance stems from multiple factors, from catering to multiple languages, having a clean user interface and most notably, an extremely high throughput (data processing speed). It is important to note that Binance is a crypto-only exchange, and does not cater to fiat deposits. It has also managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, but also due to its low trading fees.

If Binance keeps up the growth rate, it will be one of the biggest crypto exchanges based on trading volume. Additionally, many newly coins/tokens that just had an ICO would have a higher tendency to be listed on Binance compared to other big exchange. So if you’ve missed an ICO and wants to catch a hold of a particular coin, Binance would be the recommended choice of exchange due to its large trading volume, which would equate to better prices and a higher probability of your buy/sell orders being filled.

Binance is also probably the first exchange that has its own currency, called BNB. BNB allows you to pay for the different types of fees within Binance exchanges that includes:

1. Trading Fees (fees incurred from buying and selling coins)
2. Withdrawal Fees
3. Listing Fees

By using BNB coins to pay for the above fees, you will get a significant discount, which affords you 50% discount in the first year. Here’s the schedule of discount you will get by using BNB coins.

Not only that, you can also use BNB to invest in ICOs that are listed on Binance exchange. Binance has their own ICO platform that allows only BNB holders to invest in ICOs listed there, and the ICO usually lasts less than 60 seconds!

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