Guide To Why and How To Open A Binance Account

One of the most talked about cryptocurrency these days is Binance. It went to the 15th position even before completing a full year in the market and all Binance reviews are very positive. This is because of the fact that Binance took care of multiple factors in a very short time, which attracted lots of investments, things like catering to multiple languages and clean user interface, but most important is the fastest processing speed. You should note here that through Binance exchange only cryptocurrency is traded. It doesn’t allow fiat deposits.

What is the benefit of opening a Binance Account?

The main point is the rate at which it is growing. It is very exciting in the sense that if it keeps growing this way it is going to be one of the biggest crypto exchanges very soon. The second thing is having ICO; on new coins/tokens are listed on Binance faster compared to other cryptocurrency exchanges. Therefore, if you missed ICO and then want to get that particular coin in to your account Binance is the best choice.

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How to get an account open?

You should always be careful of security. First there are many websites which are just a mirror of Binance website. So first you got to check whether you are visiting the authentic website. So, bookmark the website, so that you don’t always have to type in the address bar or click a link which takes you to the mirror website. So, make sure that your address bar showing “Secure” at the top to make sure that this website is the correct one.

Then you click on the “Register” button and enter the information you were asked to fill. Don’t forget to put a long and arbitrary password to secure your account more. After that you recheck all the details you entered are correct, verify yourself and then click on “Register” and that’s it, you are registered.

BNB coin and their use

BNB is the exclusive coin for Binance. This is the first coin probably used by a cryptocurrency exchange. You can pay trading fees, withdrawal fees as well as listing fees with the help of BNB in Binance exchange.

You will be able to get a lot of discounts in trading if you are using BNB coins. Like in the 1st year you get 50% discount, in the second year you will get 25% discount, in the third year you will get 12.5% discount, and in the fourth year you will get 6.75% discount. Your discount ends from the 5th year. So, a trader can get a lot of benefit financially if they avail those discounts.