Why Binance Is Popular Among Crypto Exchange Platforms?
If there is any crypto exchange platform trading with the highest volume, it is Binance. The crypto exchange trades with more than 150 virtual assets from all around the world. Just a few years ago, Binance came up with its own coin, Binance Coin, which is now one of the top traded cryptocurrencies. People always go for this option because they know it is quite reliable. Several attacks have occurred on Binance but it recovered itself all the time. At present, there are millions of customers on this platform and many are still joining it. There are many reasons why Binance is popular among all the other crypto exchanges. Below, we will learn all of them.
Why Binance Is Popular Crypto Exchange Platform
Just recently, Binance has partnered with Simplex, a notable payment processing firm. Simplex has been in business for years and it is performing well in the payment industry. With an alliance of Binance and Simplex, you will be able to purchase virtual assets efficiently with a credit card from the website immediately.
Binance is trying to expand more and Simplex will help it reach out to as many people as possible to the crypto world. During a conference, the CEO said that he wants to boost the reach of more expeditious services so that people can trade without any obstacle. The crypto exchange platform strives to eliminate a rift that has been rising between crypto business and payment organizations. Until now, no one has done such a partnership. Presently, the processing capacity of Binance is enormous and it can do it with millions of orders every second. It is also one among those where actual Bitcoin price actions take place. You can easily buy Bitcoin on Binance as most of the miners give their cryptos here.
Binance is now taking care of fiat options and if you are dealing with euros or pounds, you can benefit from Binance. je. In case you are from Uganda, you can use shillings with Binance Uganda. In these ways, the crypto exchange platform is trying to reach all the corners that are yet to be approached in the crypto domain. If someone focuses on developing a fiat gateway, in most cases, a crypto business will boom. This is because cryptocurrencies have not reached every dimension of the global population. Many people do not have access to even third-party payment solutions. The only thing they have is fiat that helps them buy and sell things.
Security Feature From The Crypto Exchange
Another primary reason why Binance is popular is because of its security for the crypto HOLDers. Binance focuses a lot on securing crypto accounts and it brings new features so that hackers could not get into them. Firstly, it recommends choosing a strong password while signing up. A strong password can make it difficult, if not impossible, for hackers to breach into your crypto wallet.
Next, Binance implements two-factor authentication. This security feature is an important one because it has been the best practice in the world of security itself. With 2FA, Binance can use either your Google account or text for authentication. Make sure you enter the correct number so that you would not face any problem further. Just put your key to reset if you are sending your two-factor authentication to another smartphone.
Now, among a Google account and text, the former one is more secure. When you are choosing authentication with text, you may be a victim of SIM Swapping. In this technique, the user’s SIM is anonymously replaced. Many people have become victims of SIM swapping. You can choose to go for Google account authentication as it is the most reliable method of securing your account. After creating an account, you can buy crypto on Binance. Many people ask how to buy crypto on Binance. There is absolutely no big deal in that. Make your payments with cryptos and buy cryptos. Binance is not accepting fiats from many countries. However, it is trying to reach them to deal with their traditional currencies. You can easily pay cash if the crypto exchange allows you to do so in your region. After completing the payment, the cryptos will be in your account within a few minutes. Binance is very quick in crypto trading.
So, I have described all about why Binance is popular. Before knowing how to use Binance, you should know why you should trade with it. Binance offers the most user-friendly interface and no new trader will have a problem with it. It started just a few years ago and within that duration, it is expanding all around the world. There are many crypto exchanges like Bitfinex, Kraken, Coinbase, Poloniex, etc. However, none of them is comparable to this one. Binance puts its best efforts to secure your crypto account. You will have the most satisfying experience while trading with this platform.