It is a trading platform
Binance offers its users the ability to buy and sell a wide variety of different cryptocurrencies. The platform also offers a number of payment options, including credit and debit cards. Additionally, users can earn staking rewards on a variety of crypto by depositing them with the firm.
The site offers spot trading at real-time prices, as well as a variety of order types, including market, limit, stop-limit, and OCO orders. It uses a maker-taker fee structure, which means that traders who add liquidity to the market are charged lower fees than those who reduce it.
The exchange’s pricing structure is confusing, with 10 different volume-based tiers and discounts. However, it is still significantly cheaper than its competitors. You can withdraw fiat currencies on the site, but some coins are not supported by the company’s partners. This makes it difficult to use the exchange outside of the US. To avoid this issue, you can sign up with a third party broker, such as Simplex, to get access to more currencies.
