As with its international industry-leading counterpart, Binance offers a still-extensive array of crypto currencies, from mainstays like Bitcoin and Ether to BNB, the platform’s proprietary stable coins. This last one is vital because frequent traders may lower trading costs by 25% when converting their investing dollars to BNB.
As with most exchanges, Binance rewards high-volume crypto traders with progressively lower transaction fees, though this won’t kick in until you trade a minimum of $50,000 of cryptocurrency within a 30-day period. (Keep in mind its base trading fee could also be less than competitors’ even before you hit that volume.)
Binance provides two comprehensive market dashboards, named Simple and Advanced, with real-time market data.
As mentioned in its Best Overall writeup, Binance enables multiple order types, including limit, market and stop-limit, which should cover most crypto traders’ needs, also as over-the-counter (OTC) trading.
You’ll be ready to make these trades using U.S. dollars, USDT (a U.S. dollar stablecoin) and Bitcoin. It’s important to notice , however, that Binance also support margin trading a risky practice that permits traders to use borrowed money to amplify returns while similarly increasing the quantity they will lose. that's why it’s generally not recommended for beginner or maybe intermediate investors.
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