What world users review about Binance on Reddit?
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Binance is a famous cryptocurrency trading platform in the world. The platform is known as one of the largest cryptocurrency exchanges in the world, offering unbeatable rates. The following article summarizes Binance review on Reddit so that new users can see what users in other countries are saying about this cryptocurrency exchange.
What is Reddit?
Reddit is the 6th most popular website in the US and the 18th globally. Reddit is a website that allows the user community to exchange information and social news online. On Reddit, users can register for an account and post content on various topics such as cryptocurrency, news, and other areas such as sports or parenting, and more. Reddit users can Post self-written content or link from another source.
The advantages of Binance are evaluated on Reddit.
The Reddit community refers to Binance as a large and famous cryptocurrency exchange next to Coinbase.
On Reddit, the most positive reviews about Binance relate to fast and convenient transactions. One of the other advantages is that Binance offers a wide variety of crypto pairs and various crypto investment features. Binance’s liquidity is also well-reviewed on Reddit. In addition, the easy deposit is also an advantage of Binance mentioned.
Here are some excellent reviews mentioned on Reddit:
- Binance is one of the best-centralized exchanges. When they are hacked, user funds are not affected. It is straightforward to use.
- I like Binance the most because there is more choice of coins.
- Its legitimacy has tons of good reviews, and the mobile app experience is the best.
- I have been a very loyal customer of Binance for over three years. I make more than 100k dollars per month.
Negative reviews of Binance on Reddit
As with any exchange, mainly a crypto exchange, there are a lot of negative reviews about Binance. One of the most mentioned reasons is the withdrawal fee of Binance. Besides, customer care is also one of the points where the community using Binance in the world often complains. In addition, some people doubt the legitimacy of the Binance exchange. In particular, on the review posts about Binance on Reddit, Binance US seems to cause many obstacles for users, so most bad reviews come from this country.
Here are some negative reviews of Binance on Reddit:
- They lack customer service to keep up with the massive user base. If something goes wrong, you ask for something. You wait for someone to click approve.
- They have a ridiculous withdrawal fee of 0.0005 BTC or ~27 USD
- Their partner site Binance.us has low liquidity compared to the original, but that’s all you can use if you’re in the US.
- Binance is terrible. They make it extremely difficult for US users to get their existing crypto out after blocking US users.
Why is the review of Binance on Reddit so appreciated?
Reddit is a place to share all the information in the world. And the user is the one who provides the content and decides whether the content is valuable or not through voting. Valuable items on Reddit get upvoted, and vice versa, invalid or inaccurate content gets downvoted. This principle determines the placement of content posted on Reddit. The valuable content posted on the front page is seen and known by tens of thousands of people. Therefore, the reviews of Binance on Reddit are of great significance to newcomers who want to know about the credibility of this cryptocurrency exchange.
First, users should learn and make their own decisions. There are thousands of different reviews on Reddit every day, but only you know what to do to protect your investment.
Users should also explore different cryptocurrency storage solutions. Users can keep their coins on secure online wallets (like Trust or Metamask), offline in cold storage wallets (like ledger), or on exchanges (like Binance, Coinbase, etc.). Each wallet type has its advantages and disadvantages. However, the reason why users lose the most money is because of losing trades.
So whether Binance or any exchange has its pros and cons, what matters is which floor suits your needs best. And users can combine online and offline storage for both security and convenience. If you keep all your cryptocurrencies on one exchange, it’s also quite convenient. But identify the possible risks in advance. Users can spread their risk using several different exchanges.
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