Binance coin is a digital currency issued by Binance, which is considered as the biggest cryptocurrency in the digital space. Aside from being a reliable and stable digital coin, the Binance coin or BNB is also a giant in the crypto world.
Based on recent Binance coin news, the Binance market cap is at over $2.4 billion, with a circulating supply of over 155 million coins. Binance coin is used to pay the fees for services made through the Binance coin exchange, which includes exchange fees, trading fees, as well as listing fees. And like any other digital currency, the Binance coin can also be traded in several crypto exchanges.
Here’s a closer look at trading Binance.
Binance vs. Bitcoin: The Differences
Although Binance coin is not on the top one level of Bitcoin in the crypto space (at least not yet) it has a lot of redeeming qualities that set it apart from other cryptocurrencies like Bitcoin.
For one, when trading bitcoin, traders and investors should be keen on the cryptocurrency exchange being used as not all are secure and dependable. On the other hand, Binance coin is listed on Binance, which is deemed as the most secure crypto exchange in the market.
And although the Binance coin is susceptible to internal circumstances on Binance, that is only singular compared to Bitcoin that is traded everywhere, which makes it prone to a variety of influences.
Trading on Binance
Binance exchange is simple as it was designed to appeal to as many traders and investors as possible.
Aside from being the safest and most secure cryptocurrency exchange in the world, the exchange also has a lot of things to offer. For one, it features multilingual support and is available in 13 different languages: English, Japanese, Chinese, French, Spanish, Russian, Italian, German, Korean, Vietnamese, Turkish, Dutch, and Portuguese. As a multilingual platform, Binance allows access for traders and investors from all over the world.
Any cryptocurrency exchange will not make it big without sufficient liquidity, and Binance trades almost 400 different cryptocurrencies. The exchange has one of the busiest underbook in the cryptocurrency space.
Binance exchange is also available on different platforms, which makes trading on Binance that much easier and accessible to traders and investors. Plus, the exchange has two different settings, the “Basic” and “Advanced” settings, to fit what kind of trader you are. For first-time traders, the “Basic” setting is perfect for making simple trades in the market before moving it to more complex order trades in the “Advanced” setting.