There are quite a number of centralized exchanges, and Binance and Coinbase are said to be amongst the top two. Recently, Binance has been in the limelight more because of FTX, but it's still strong. Does it make it the best exchange?
Is Binance the Best Decentralized Exchange for Cryptocurrency?
- Thread starter Golden9
- Start date
Binance is expanding its holds on every frontier. The way Binance is moving, am very sure that it will not take time before they become the Google of cryptocurrency. When other exchanges are experiencing deep crisis, Binance is gathering momentum.
Based on the number of active users and availability in various countries, Binance is the top crypto exchange platform. Based on my experience and the functionality and features, I think Binance s the best crypto exchange.
Binance is by far one of the best crypto wallets that I know about 10 for a fact that over millions of people I'm making use of binders and millions and billions of trading's are going on on the wallet exchange tells it all.
Well, in volume of money and transactions as well as clients it is number 1, there is no doubt about that, but for me it is not the best, in fact I don't even use it, but that doesn't mean I don't think it's a good exchange, because it is.
Binance may not be the best decentralised crypto exchange, but one thing is for sure, it is the most reliable, transparent, trustworthy exchange so far, and the chief executive officer of binance in the person if CZ is working tirelessly to make sure binance stands strong.
To date, the Binance crypto exchange is the largest exchange and has the most users from all over the world, in fact the Binance exchange has also purchased shares (acquisition) of several local crypto exchanges such as WazirX (India), Sakura Exchange Bitcoin (Japan) and Toko Crypto (Indonesia).
Since when is Binance Decentralized? if you have to pass KYC and they have all the data of your operations made within the exchange? it may have some decentralized options like P2P trading, but that doesn't mean it's decentralized.
Binance is not a decentralized exchange but a centralized exchange, the main characteristic is that users do not have direct access/private keys to open the user's wallet. Binance must also comply with government regulations, so that if your account is suspected by the government, your account can be blocked.
In my experience, Binance is very safe and reliable, all features are easy to use for both beginners and experts, but unfortunately I always have difficulty exchanging and withdrawing crypto to my local money (IDR), so I prefer to use the local exchange Tokocrypto which has also been acquired by Binance.
Experts says as don't relay on any one exchange, but select few and put your money as a sort of distribution among these exchanges. And also must have a wallet where you can put all your money at any crises time. I am using Binance, Kucoin, okx, and Bitcoin wallet.
Yeah, i think binance is onenof the best crypto coin exchanging platform, and the best thing is that its very legit and you don't have to worry that the website will close at any time, its perfect and also you can hold your coin on binance as a wallet for you coins, and the platform have many coints.