The most important feature provided by Binance is the ability to exchange between different cryptocurrencies. The exchange lists over 100 cryptocurrencies that are traded in over 600 trading pairs. However, there is a lot of competition between different exchanges and Binance is constantly introducing new features to attract traders. On Binance, you can also buy cryptocurrency with a credit card or debit card, trade futures contracts with leverage, participate in token sales and lend out your cryptocurrency to earn interest.
The Binance trading platform offers a pretty strong set of features, and users can choose to use a basic or advanced trading interface. You can select between four types of orders:
- Limit orders
- Market orders
- Stop-limit orders
- OCO (one-cancels-the-other) orders
If you have the most basic type of Binance account (VIP 0), both the maker and taker fee is 0.1%. However, if you hold some BNB and pay your fees with it, both the maker and taker fees drop to 0.075% (25% off).
Deposit fees and withdrawal fees are different depending on the cryptocurrency you’re dealing with.