Do you think Binance.US is safe? Well, the answer is not at all easy. Nowadays, the digital currency exchange market has a variety of choices. So, what becomes most important is choosing the right platform. It can become quite a headache for both a beginner and a master of cryptocurrency.
Most people look to trade through various digital currencies from the comfort of their homes. There are various things that a person should consider before choosing a platform. It includes whether the platform comes with jam-packed tools, insights, competitive fees, and commissions. Basically, for anyone moving from exchange to exchange, it can be cumbersome.
Binance.US is one of the most popular cryptocurrency exchanges for the U.S. based users. It first started in China and then later moved its headquarters to the crypto-friendly island of Malta in the EU. Moreover, it is popular for its crypto-to-crypto exchange services. So, before using it, a question will arise in the mind of beginners: is binance.US safe?
The most important fact is that accessibility, security and integrity make it the choice for beginners and advanced crypto traders. The platform with low fees, high trading volume, and excellent tools ensure that a person is up to date.
So, anyone who wants to know if binance.US is safe in the US can go through this article.
How Does Binance.US work?
Well, the first question that arises in the mind of people is binance.US safe. Let’s see how it works. Then, later we will discuss whether it is safe or not. The platform gives two options for digital currency trading. The options that Binance.US offers are basic and advanced.
The fact is neither of the options is easy to use for complete beginners. Moreover, a person with a bit of knowledge or a background in digital currency can use it. Another benefit is that they can use the platform on one hand and on the other hand can take its different services. Now, let’s see how different both options are.
The basic difference between the two is that the advanced one offers a more in-depth technical analysis of digital currency value over time. During this time the basic version offers several graphs and charts for the pairs that anyone is trading. Another difference is the basic view is nicely designed, and all information is presented. But the advanced view uses a dark theme and makes the trading chart larger.
How to trade on Binance.US
For anyone who has used any other cryptocurrency exchange before. So, for them, trading on Binance.US can be easier. Even for anyone who has used other crypto exchanges before. For them also before trading in Binance.US, they will think it is binance.US safe. To start trading anyone has to make sure whether they have deposited some funds.
There are various options ready for trading pairs. Once any person has their funds, then they can choose which option they will be using. After this, anyone can start trading.
Various Supported Crypto Currencies
The platform gets praise due to its variety of support coins. Here, anyone can use multiple digital currencies. It includes but is not only limited to Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum, etc. It also supports numerous tokens, as part of ICO listings. One of the most important facts is traders can use the platform to trade these tokens for a profit also.
Although it supports various currencies, a question always hovers in the mind of people: how far is binance.US safe. Well, we will discuss it in the next point.
Is Binance.US safe?
Well, now we will discuss the most important question of this article i.e. is binance.US safe. The answer to this question is yes. Binance.US is a very safe crypto exchange. Moreover, it keeps most of its crypto in cold wallets, so it does not connect to the internet.
Although it is one of the newest cryptocurrencies available in the market, it has attained a high level of trust from its users. One of the major benefits of this platform is it also offers hardware 2FA. So, what is 2FA? It is a real-time monitoring system to detect suspicious activity. It also provides security notifications through the mail and many other advanced security features.
However, it can be called a highly secure exchange. There are a few of Binance.US security measures that help to prevent cyber attacks. They are cold wallets, two-factor authentication(2FA), real-time monitoring, security notifications, data encryption, and many others.
Binance.US states that its crypto gets stored in cold wallets outside the limit of cyberattackers. The fact is keeping in cold wallets ensures that the cryptos do not connect to the internet.
The next security measure is 2FA. The fact is that Binance.US allows a person to implement 2FA on their account. If anyone turns this feature on then they have to enter a code every time they log in or make any withdrawal.
Real-time monitoring of binance.US tracks every action done on the exchange. If any action gets identified as suspicious. It will result in a freeze of the account.
Another important security measure is Security notification. If the Binance.US System detects any suspicious activity on anyone’s account. It will immediately notify a person through email.
Next is Data Encryption. The social security numbers, addresses, and other personal data get stored in encrypted form. So, it makes it difficult for a hacker to get any information.
Binance.US Fees and Limits
Binance.us usually charges an average fee of 0.1% on each trade. Moreover, those persons who choose to pay via Binance.US token can get a 50% discount on the trading fees. However, withdrawal fees tend to vary for each digital currency. As far as limits when it comes to transferring limits, there is no limit on the number of coins a person can deposit.
So, after going through the article it will become clear whether Binance.US is safe or not. Most importantly, it is a fairly safe crypto exchange. Moreover, it also provides lots of advanced security features.
Binance.US offers very low commissions, a large variety of coins, and advanced trading tools. So, we can call it an excellent crypto exchange for traders.