IMO, it's best for me to stay on Binance and any other reputable exchanges that have proven with the test of time for so many challenges that they've overcome.
It's better to trust them rather than gamble with new exchanges that offer some high and attractive promos as they launch. Although, if it's still about keeping money on exchanges, you better know the drill that it shouldn't be the place where you'll store most of your funds.
Topic: Binance trading activity is 13x larger than any other exchange - page 3. (Read 451 times)
September 22, 2022, 02:01:20 PM
September 22, 2022, 01:41:53 PM
If you want to choose a cex rather than using a dex then of course Binance is the right choice. I am not saying they are very good, but the good of bad. Usually, cex isn't preferable, especially to holding funds and providing personal documents. Keep in mind, whether you use Binance or not for KYC reasons, you have to be ready always to provide KYC documents you use any centralized exchange. For cex, I have been using Binance for a long time and hadn't faced any issues yet. But don't hold any amount there unless you are trading for a long time.
September 22, 2022, 01:27:31 PM
They told me they preferred more risky options and not the classic ones.
Does it include trading features that Binance offers, such as spot trading or futures trading?I don't know what you really mean, I hope you can explain a little more detail about "they preferred more risky options and not the classic ones".
Binance is generally one of the best exchanges out there. They have a very high trading volume, but I don't think they are good for all of investor or trader who cares about privacy especially if they don't like KYC.
September 22, 2022, 01:13:13 PM
there is no need to question that, because Binance exchange is the number 1 top exchange in the world,
according to coinmarketcap the 24-hour volume has reached $24 billion,
this is a very fantastic number, compared to Coinbase which is only $2 billion.
according to coinmarketcap the 24-hour volume has reached $24 billion,
this is a very fantastic number, compared to Coinbase which is only $2 billion.
September 21, 2022, 08:29:01 AM
Have the rules changed? It used to seem like KYC was used as a condition for Withdrawing for larger amounts.
I think that KYC think was a requirement for most account holder and it also has some limitation of how much worth of btc can be withdrawn at a time, I think probably 0.6 in btc or something close to that I can't remember clearly. But apart from that I don't have fears with Binance, so far I have not heard of issues although it is wise to go with caution, it still a centralized exchanged.
September 21, 2022, 08:25:19 AM
Trading on Binance is good. But know that you will have to be fully verified in a way your identity document would be requested for. Which means KYC is mandatory.
Binance trading volume is very much higher than other exchanges, but that does not mean that trading on other exchanges that are recommended are not quick to fill. I have used many exchanges like OKX, Huobi global and some others that having good liquidity as well. Although I trade high marketcap coins and nothing more.
If you want to know if a coin have good trading volume and liquidity. Go to Coingecko or Coinmarketcap, select the coin and check its market. You will be able to see the exchanges it is traded and if the confidence is high or not.
Binance exchange market have adapting with KYC procedure for trading, deposit and withdrawing assets, first time launching Binance still ability trade, withdraw and deposit fund under 2 BTC in daily days without fully verified account by uploading document ID and face selfies. No doubt with Binance is most recommended exchange global market for trading exactly when giving access trade using local money pair, I saw each country have local pair for trading in Binance and make easy for withdrawing to our local money account without have to trade stable coin again.Binance trading volume is very much higher than other exchanges, but that does not mean that trading on other exchanges that are recommended are not quick to fill. I have used many exchanges like OKX, Huobi global and some others that having good liquidity as well. Although I trade high marketcap coins and nothing more.
If you want to know if a coin have good trading volume and liquidity. Go to Coingecko or Coinmarketcap, select the coin and check its market. You will be able to see the exchanges it is traded and if the confidence is high or not.
Not bad to use Binance, but never leave coins on Binance or any other exchange. Not your key not your coin and also that exchanges can be hacked.
All exchange market have potential hacked but depending our self how protect account keep activate with 2fa and always use private internet for access to Binance account, but true with long term holding assets better hold and save in private wallet than use Binance or other exchange market.
September 21, 2022, 08:10:03 AM
Have the rules changed? It used to seem like KYC was used as a condition for Withdrawing for larger amounts.
Yes, it has changed many months ago. All Binance users have to get verified before any withdraw.One of them is the convenience of security.
You mean convenience over security. Because exchanges are not considered to be secure and not advisable to have your money left on exchanges. Noncustodial wallet is better. Cold storage wallets are recommended.Regarding KYC, I think some exchanges do that for security.
No, not related to security at all. It is related to regulators enforcing them, just like the case of Binance. Regulators wants exchanges to follow AML and CTF rules. The most important thing is that they take good care of the document. Although we don't know it for sure.
There are data breach on exchanges times without number now. The perfect way your data is safe, is to remain just to you. Once given out, hackers might possibly be able to get hold of it. Customers data can even be sold by the company to third party. They can even voluntarily give it out to third party. 
September 21, 2022, 08:00:48 AM
Trading on Binance is good. But know that you will have to be fully verified in a way your identity document would be requested for. Which means KYC is mandatory.
Have the rules changed? It used to seem like KYC was used as a condition for Withdrawing for larger amounts. Binance is their current largest exchange number one. So naturally their trading volume is large, and this benefits many traders due to the rapid changes. I think many traders choose echange because of various considerations. One of them is the convenience of security.
Regarding KYC, I think some exchanges do that for security. In addition to regulation as well, because I believe exchanges also have risks from rules in a government. The most important thing is that they take good care of the document. Although we don't know it for sure.
September 21, 2022, 06:18:48 AM
They told me they preferred more risky options and not the classic ones.
Do they mean that they prefer using less reputable exchanges with higher chances of getting rugpulled or with higher chances of the exchange ending up being insolvent? Or am I missing something here?
September 21, 2022, 03:40:39 AM
Trading on Binance is good. But know that you will have to be fully verified in a way your identity document would be requested for. Which means KYC is mandatory.
Binance trading volume is very much higher than other exchanges, but that does not mean that trading on other exchanges that are recommended are not quick to fill. I have used many exchanges like OKX, Huobi global and some others that having good liquidity as well. Although I trade high marketcap coins and nothing more.
If you want to know if a coin have good trading volume and liquidity. Go to Coingecko or Coinmarketcap, select the coin and check its market. You will be able to see the exchanges it is traded and if the confidence is high or not.
Not bad to use Binance, but never leave coins on Binance or any other exchange. Not your key not your coin and also that exchanges can be hacked.
Binance trading volume is very much higher than other exchanges, but that does not mean that trading on other exchanges that are recommended are not quick to fill. I have used many exchanges like OKX, Huobi global and some others that having good liquidity as well. Although I trade high marketcap coins and nothing more.
If you want to know if a coin have good trading volume and liquidity. Go to Coingecko or Coinmarketcap, select the coin and check its market. You will be able to see the exchanges it is traded and if the confidence is high or not.
Not bad to use Binance, but never leave coins on Binance or any other exchange. Not your key not your coin and also that exchanges can be hacked.
September 21, 2022, 03:31:34 AM
GM fam. If you do trade on an exchange, wanted to ask you about your favorite option so far.
Last week I was discussing with some friends the benefits Binance offers: quick trading, minor crashes within each year, and also the liquidity it already has created over the years.
They told me they preferred more risky options and not the classic ones.
I regularly trade with [MT4 + Broker] tho.
Just curious about how you think the in-exchange trading is evolving at the moment with this topic or news like the one I shared below [read today].
Source: https://tokenist.com/binance-trading-volume-now-larger-than-the-next-13-biggest-exchanges-combined/
Last week I was discussing with some friends the benefits Binance offers: quick trading, minor crashes within each year, and also the liquidity it already has created over the years.
They told me they preferred more risky options and not the classic ones.
I regularly trade with [MT4 + Broker] tho.
Just curious about how you think the in-exchange trading is evolving at the moment with this topic or news like the one I shared below [read today].
Source: https://tokenist.com/binance-trading-volume-now-larger-than-the-next-13-biggest-exchanges-combined/
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