Should Novice Parties Use Binance for Crypto Investing or Trading?

Last Updated: June 11, 2021By Tags: , ,

Buying, selling or trading cryptocurrencies for the first time can indeed be a challenge. However, the level of difficulty can be somewhat reduced by using a secure exchange such as Binance.

Binance is one of the top crypto exchanges where people can easily and quickly buy, sell and trade crypto, regardless of their prior experience and relevant information of the crypto market. However, before novice parties can use a crypto exchange they must know some major details of the platform.

Therefore, here is what beginner and expert investors and traders should know about Binance exchange if they are looking to buy, sell or trade crypto for the first time.

What to Know About Binance?

Before choosing Binance to start crypto trading or investing, interested parties should know what Binance is.

Binance is one of the biggest crypto exchanges in the market. It was founded in 2017 and quickly caught the eye of new and experienced crypto investors and traders. The platform now manages $4.3 billion crypto exchange volume on a monthly basis. This platform makes use of cutting-edge technologies to ensure convenient trading and investing for all users.

These is only a brief introduction of the exchange, however, if novice parties want to know what is Binance then they should take a look at the features and details mentioned here.

Around The Clock Customer Service

Novice parties looking to step in the crypto space can feel intimidated while buying, selling or trading crypto. There are numerous factors and steps that can seem complicated for someone who is looking to make an investment or trade a digital asset for the first time.

However, the challenges of crypto investing or trading for the first time can be significantly minimized if the crypto enthusiasts choose an exchange with excellent customer service. Binance exchange is one of the top options for inexperienced crypto investors and traders.

This exchange has team of efficient professionals who are easy to contact and are responsive to all concerns and queries of the users. Having an active customer support can help the novice users in trading or investing in crypto in a stress-free and convenient way.

Desktop and Mobile-friendly Interface

Another major and important factor potential investors and traders should consider is the user-friendly desktop version and mobile application of the Binance exchange.

As mentioned earlier, there are a number of aspects that can seem complicated for people who plan on stepping into the crypto space for the first time.

However, if the novice parties opt for Binance, they can also use the desktop version and mobile application that offer several technical features mentioned below.

The easy-to-navigate desktop version offers:

  • An in-depth view of the market
  • Easy placing and monitoring of all running orders
  • Risk calculator for traders
  • Trading view charting interface

The features available on the mobile application include:

  • Built-in custom indicators
  • Charting tool
  • Multiple time frames
  • Several order types
  • User-friendly interface

Is Binance Safe?

Safety is the major concern for all crypto investors and traders, especially if they are inexperienced. Novice parties can be unaware of possible safety risks, which can complicate the entire process of trading or investing in crypto.

Therefore, people looking to start investing in or trading crypto can be sure that Binance is a safe and secure exchange.

The platform offers a number of security protocols and features that ensure safety of the users and their funds, whether they are experienced or inexperienced.

Here are some of the security checks novice parties should know about, before they choose Binance:

  • Insurance on client’s funds
  • Use of 2-factor authentication method
  • Use of cold storage wallet
  • Withdrawal confirmation

Beginner crypto investors and traders looking for a safe platform can opt for Binance, which is a safe and secure crypto exchange.

Supported Cryptocurrencies

Another major factor crypto investors and traders should know about Binance exchange is that it supports more than 24 different digital currency pairs and offers 125x leverage to the traders.

These are essential factors to know about a crypto exchange before the interested parties choose it for trading or investing in digital currencies.

Best Way to Earn Passive Income

Crypto trading is a beneficial and exciting experience, however, it can also be intimidating and stressful, especially for the people who do not have proper information, experience or time to actively trade.

In such a case, the best way novice parties interested in trading can benefit from crypto trading is by choosing copy-trading.

Copy-trading refers to the automatic mirroring of an expert trader’s trades and enjoy the same returns as the trader, without manually monitoring the market trends.

The best exchange every crypto trader can use for copy-trading is PrimeXBT Covesting.