Recently I began using Binance initially and the experience is basically excellent.
I traditionally traded on Bittrex when evaluating lower cap alt coins but over the past month or two Bittrex offers slowed down, and grow more buggy than normal with laggy chart data and delayed notifications (like hours late).
I originally switched to using Binance on account of them listing some unique projects unavailable on Bittrex yet like IOTA and WTC, two solid projects which were storming the coinmarketcap rankings.
Why I adore Binance and which are the benefits?
Here are several explanations why I am just enjoying using Binance.
1) Forks
Many web and exchanges wallets don’t pay out your Bitcoin fork coins quickly, the truth is at the time of publishing 4 months on Coinbase users still don’t get their Bitcoin Cash.
One benefit with Binance is how quickly they support forked coins. Should you hold Bitcoin in the exchange then virtually as soon as a fork happens you will have that same number or equivelent variety of coins through the fork inside your wallet.
So, far on Binance I have got had Bitcoin cash, Bitcoin Gold, Bitcoin Diamond and Bitcoin silver the name some.
2) Airdrops
Airdrops really are a relatively new marketing tactic for new coin owners that has mostly been rewarded to Ethereum holders using the MyEtherWallet however Binance is now supporting a lot more these free airdrops in which you literally evaluate your account and think “I didn’t purchase these coins” and “wait, what even are these coins”. It’s the best thing because it’s free but the objective of the coin creators is to encourage you to then look into the coin and hopefully buy more. In either case selling these can be quite a nice little bonus for the crypto portfiolio.
3) Fees
The fees on Binance might be reduced automatically by opting directly into pay using their own BNB token, this can be a smart idea as well as reveals that the BNB coin is a great investment mainly because it grows in value due to the increased use around the exchange.
The primary fee is .10% for those customers on all trades regarless of your customers volume, which we believe is actually a fair way to do things, not favouring the whales. If you opt to use BNB coin to cover the fees (which doesn’t involve any manual work by you) then your fees reduce to .05% on all trades. Excellent!
4) Usage of New Coins
Using Binance gives you the capability to buy plenty of coins which may not be available on Bittrex, it also provides probably the most trustworthy and safe exchanges to acquire such coins and is far simpler than muddling the right path through EtherDelta unless do you know what you are doing or have zero other choice. As I use EtherDelta if you have not one other means of acquiring the Tokens I would personally always would rather buy via Binance.
5) Referral Commissions
Despite affiliate marketing obtaining a bad name throughout the years something is for sure, the system functions! It generates interest and it empowers it’s users to perform the marketing as an alternative to spending that budget elsewhere. The caveat is that it can end up having people misleading people in the hopes of generating commissions. A double-edged sword if you will.
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