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CoinMarketCap's analysts give Binance the highest rating, 9.9 out of 10, as well as the biggest trading volumes: more than $19 billion on spot and $56 billion on derivatives trading. The exchange also leads in weekly visits, with more than 12 million traders operating during a week.
At the same time, Binance supports only 383 cryptocurrencies + 46 fiat currencies, which is not the highest indicator on the market at all. So, what do you need apart from white label crypto exchange software? Let’s discuss it with reference to the peculiarities of Binance.
Tip 1: User-friendly Interface
Even though Binance possesses functionality for advanced traders, its interface is easy to perceive for novice users too. Navigation is crystal clear, therefore beginners can join the crypto community with no sweat. Professional traders, on the other hand, can enjoy a comprehensive tool set for efficient trading.
Tip 2: Proved Reserves
Right after the news about the FTX landslide, crypto exchanges rushed to confirm their paying capacity. Binance also proved their reserves. In addition to that, it published a proof-of-reserves system that allows its users to check assets in their wallets with Merkle Tree.
Tip 3: Low Commissions
A huge advantage of Binance is super low service charges that range from 0.015% to 0.1%. On average, transaction fees reach 1.4%. Binance, on top of that, allows reducing charged even more. When a trader employs BNB token or amps up a trading amount. Apart from commissions, crypto operations can be liable to taxes. Learn more about crypto taxes here.
Tip 4: Extensive Inventory
Binance users are free to choose whichever market they prefer: spot, derivatives, P2P, OTC trading platform. And even if a plethora of exchanges are equipped with tools for spot and derivatives trading, direct transactions enabled with P2P and OTC features are just being introduced into crypto exchanges’ standard toolkits.
Tip 5: Fiat Gateways
The idea to introduce fiat payment means may seem too obvious. Yet still, many emerging crypto exchanges abandon traditional currencies and leave solely crypto. Providing fiat gateways, however, you encourage beginners to join in and show credibility collaborating with conventional banking systems.
Bottomline
Digital assets trading is becoming less exotic these days, what triggers keen demand for quality crypto platforms. After you decide to launch an exchange of your own, find a software provider, and customize your product keeping up with the best examples on the market. Alternatively, you can purchase a white label crypto exchange or white label crypto wallet to get a package solution with software, technical support and legal assistance.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.