Is the Binance platform the same as Binance Futures? Is the first independent of the other, or the two are entirely different entities? Let’s delve again into the crypto world to explore these beautiful exchange platforms.
Binance is a crypto trading platform that allows millions of traders from across the globe to exchange their cryptocurrencies at any time they wish.
Binance Futures is a derivative product tradable under the finance platform. It is one of the many tradable crypto markets found on the platform. Some of those other markets include:
Advantages of Binance
What advantages does Binance sport as a whole? Well, here are just a few of them:
- Multiple Crypto Options: Binance allows you to trade many cryptocurrency pairs and altcoins. As opposed to some other cryptocurrency trading platforms, over 100 tradable altcoins are available on the Binance Platforms. These include the very popular ones like BTC, ETH, LTC, XRP, XZC. e.t.c. These coins can be traded and exchanged whenever you decide to.
- Low fees: Binance charges traders 0.1% on every trade placed. This means that on every 0.5 BTC traded, the trader is only charged 0.0005 BTC. These charges are one of the lowest the industry offers. Also, Binance deposits are free.
- Unlimited Deposit: Speaking of which, there is no limit to the amount of cryptocurrency you can deposit on the Binance trading platform. However, should you at any point choose to withdraw more than 2 BTC at once, you will need to verify your identity. This can be done by submitting an acceptable means of identification. i.e. your passport.
- High-grade Security: Binance implements a two-factor authentication system that helps keep your account safe and secure at every point in time. Every time you need to log in, withdraw funds, Binance will send a code to your registered number to verify that it is genuinely you. Binance also uses a CCSS to protect customer accounts on every transaction.
- High Trading Volume: Binance is the world’s most trusted exchange platform to buy and sell cryptocurrencies. This, in turn, means a high trading volume and volatility. As it stands, Binance can conveniently process about 1.5 million transactions per second. The high volume and volatility make it extremely easy for counterparties to facilitate their trades whenever they want to.
Binance and Binance Futures
Binance Futures is an excellent subcategory under Binance. It is, in fact, one of the quickest ways for a beginner trader to catch up and familiarize themselves with the whole trading process. So make sure you get your hands on the platform and begin powering through the great benefits of trading with Binance.
Who can use the Binance Platform?
Anyone and everyone! The interface is very easy to use and can be quickly worked through by beginners. Also, professional traders familiar with other trading platforms will not have difficulty finding their way through the different menus to facilitate their specific trades and transactions.