Binance Coin Review

[Kakashi2020 35]

Binance Coin (BNB)

Like Ethereum, Binance Coin is much more than a cryptocurrency – as a matter of fact, Binance Coin was originally hosted on Ethereum until the Binance decentralized exchange, or DEX, went online in 2017. The Binance DEX is a platform much like Ethereum, albeit with a different mission. The Binance DEX is a decentralized platform where users can not only buy and sell binance coins but also use BNB to convert other cryptocurrencies from one to another. This has made the Binance DEX the biggest cryptocurrency exchange on the planet by volume and has helped fuel the popularity of the digital asset. Most importantly, the Binance DEX offers a discount to users who pay transaction fees on the exchange with BNB – a smart strategy that keeps users on the platform and helps sustain Binance Coin's growth.

Pros:

Fast – Binance US uses the same technology as Binance, which processes 1.4 million orders per second.

Low fees – Binance US charges 0.1% transaction fees, less if you pay in BNB.

Liquidity – Since trading started on the platform, Binance US has offered a high liquidity to its customers.

Great customer service -- Binance US offers even better customer service than the original. It’s based in the US, after all, where “the customer is always right.”

Great reputation. Binance is well-known to pay attention to user security and to be continually innovating. 

Cons:

Currently, Binance US does not offer services in New York due to missing regulatory requirements which NY requires. 12 more states are also affected: Alaska, Alabama, Connecticut, Georgia, Florida, Hawaii, Louisiana, North Carolina, Idaho, Vermont, Washington, Texas. But Binance US is working on getting people from these 13 states ready to trade.

Limited choice of cryptocurrency for trading. Although they are exploring 23 additional coins, Binance US currently offers 7 coins only. This is a far cry from the hundreds which Binance itself offers.