While Binance is not an Australian crypto exchange, it’s global dominance as a major exchange establish it as a sound choice for any trader, regardless of the locality.
Here’s where Binance stands:
- Security: Unfortunately, Binance’s track record in terms of security is not flawless. There have been several minor attacks that have put small portions of site funds in jeopardy. The good thing is that, in every scenario, Binance has absorbed the losses rather than transferring the losses back to users.
- Markets: Binance offers a highly curated market of large and small altcoins alike to trade against Bitcoin and other cryptocurrencies. As a leading global exchange, massive volume is seen across pairings sitewide, meaning that liquidity is never an issue.
- Fees: Binance imposes zero fees on any deposits or withdrawals. Trading fees also start at a razor-thin 0.1% and decrease with volume. Users also get a 25% discount when they elect to utilize the Binance BNB exchange token for fees. The minimum fee traders pay is just 0.015%.
- Usability: Binance’s interface is somewhat clunky, and there isn’t as much documentation as there could be, but overall it’s a simple experience for a serious trader. Binance doesn’t require account verification on daily withdrawals below $2,000, so it’s easy to sign up and get going immediately.
Regardless of one’s locality, Binance is a solid choice for cryptocurrency traders at any capacity.