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Depending on your location, Binance has a wide variety of cryptocurrency pairs depending on your location. Additionally, its ongoing investigations and growing list of regulatory issues are also concerning.īinance has more than 365 cryptocurrencies available for trade on its exchange, but only 65+ are available in the US For international users, it also supports a variety of fiat currencies, including USD, EUR, AUD, GBP, HKD, and INR. However, it’s important to note that the global Binance platform is different from its US counterpart,, which only offers 65+ cryptocurrencies.Įxperienced traders may appreciate the variety Binance offers, but users might find this platform confusing given its many features. The platform has also been banned in several countries.īinance offers hundreds of cryptocurrencies for global users. In the United States, it’s currently under investigation by US authorities on claims of money laundering and tax offenses. While Binance is currently the largest cryptocurrency exchange in the world by trading volume, it’s also facing regulatory issues in several countries.
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This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.įounded in 2017 by software developer Changpeng Zhao, Binance is a decentralized crypto exchange that was originally based in China.
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Consult with a qualified professional before making any financial decisions. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. The NFT marketplace doesn’t appear to be available to US customers yet. In addition to its tools and features, Binance also offers a comprehensive learning platform, an NFT platform, and more. However, many options and features are not available in the United States and only 65+ of the cryptocurrencies are accessible to US customers.
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Users can also access a variety of trading options including futures and options, as well as several order types. Through its desktop or mobile dashboards, Binance offers a wide array of trading features, including an impressive selection of market charts and hundreds of cryptocurrencies. Investors may experience a steep learning curve with Binance depending on their experience and knowledge. Because it offers a robust selection of trading options and features, it is not particularly user-friendly. Binance has run into regulatory trouble in several countries: Binance Has faced several regulatory and legal issues in multiple countries, so crypto investors may want to consider other exchanges.īinance is the largest cryptocurrency trading platform in the world.It recommends Trust Wallet, which has a good reputation but may only offer limited support if there are issues with Binance transfers. No built-in digital wallet available: While some popular exchanges have built-in digital wallets, Binance does not.Even experienced traders may feel overwhelmed by all the options available. The platform is complex and may be confusing: While the broad range of features and trading options on Binance may be exciting, it can also be intimidating.
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Additionally, Binance.US is only available in 44 states. However,, its platform for US users, is more limited.
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