Is Binance a good alternative to other crypto exchanges?
If you want to keep up with the world of cryptocurrencies, you should do regular research. Exchanges and types of currency follow each other quickly and you naturally want to know where the best investments are. If you also find it so important to keep up-to-date information, then you have undoubtedly heard of Binance. https://renovato.io/ has enough information. This cryptocurrency exchange is becoming more and more popular. But is this party also reliable? Does it serve as a good alternative to, for example, Bitvavo and Litebit?
About exchanges
Crypto exchanges, crypto exchange, exchange: The platforms on which crypto currencies such as bitcoin are traded have many names. They all do about the same. They are online platforms where you can buy and sell cryptocurrency. Some of these platforms have additional features that make it an extra attractive platform, such as:
? a digital place to store your cryptocurrency;
? service and interface in a particular language or multiple languages;
? support from brokers;
? insurance and certain security.
Based on the additional factors but you have a choice for a particular exchange. Safety is always important in this. The world of cryptocurrency is relatively new and not at the mercy of laws and regulations. In fact, cryptocurrency is designed to store and trade money independently of the traditional financial system. Still, there are platforms that offer security and guarantees on their own. Often the choice for an exchange is based on these kinds of additions.
Binance as an exchange
Binance is one of those exchanges you can turn to. The question is how reliable this platform is. Binance was founded in 2017 and therefore relatively young. You can trade different types of currencies. Moveco.io has enough information. The company is located in the Cayman Islands, a tax haven that has traditionally offered many opportunities for tax avoidance. It is also one of the reasons that people doubt the reliability of Binance.
The Binance exchange is active on the Dutch market, but it has not yet obtained registration from the Dutch regulator. The exchange therefore acts in violation of laws and regulations, according to De Nederlandsche Bank, and is therefore illegal. Buying via Binance is therefore much more difficult.
Bitfinex: a good alternative?
Bitfinex is one of the oldest and most important cryptocurrency exchanges. Bitfinex has everything you could wish for. It is therefore a smart alternative to Binance for those who like to use a foreign and large exchange. However, Bitfinex has also been hunted by major financial watchdogs worldwide. The tricky thing about trading cryptocurrencies is that it actually goes against the principles of the established financial market. Exchanges therefore often have a history of lawsuits and illegality.
However, Bitfinex is easier to use and more reliable for Dutch traders. If you would like to work with a large, foreign party, Bitfinex is probably a wiser choice than Binance. However, it is still possible to trade via a Dutch exchange such as Bitvavo.
