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What are Crypto Exchanges

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VOC, Voice of Crypto, Bitcoin

Crypto Exchanges are referred to as platforms or marketplace where you can buy or sell cryptocurrencies. They are also known as Digital currency exchange (DCE) and works similarly to online brokerage, which offers several necessary tools you need to buy digital currency like Bitcoin, Ethereum, and other. 

Top two crypto exchanges include:

Binance 

Coinbase

 

Binance is one of the largest and most popular cryptocurrency exchanges in the world. It has a user-friendly interface, and you can use it to buy, sell, and trade cryptocurrencies.

Yes, Binance is good for beginners as it offers a variety of features that make it a convenient platform for beginners. For example, it has an intuitive user interface, it supports multiple languages, and it has a user-friendly mobile app. Additionally, Binance offers 24/7 customer support so you can always get help if you need it.

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Yes, Binance is safe. It is one of the most popular cryptocurrency exchanges online, and it has a solid reputation.

However, nothing is 100% safe and you should always take precautions to protect your investment. Here are some tips:

-Use a strong password and two-factor authentication.

-Do not share your account details with anyone.

-Make sure you are on the correct website before entering your login details. Phishing websites can look very similar to the real thing.

-Keep your computer secure with anti-virus software and up-to-date security patches.

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You can make money from Binance in several ways. 

First, you can trade cryptocurrencies on the exchange. By buying and selling different coins, you can take advantage of price movements to make a profit. 

Another way to make money from Binance is by referral fees. When you refer someone to the platform, you earn a small commission on their trading fees. 

Finally, Binance also has a native token (BNB) which can be used to receive discounted trading fees. Some people choose to hold onto their BNB tokens in order to save money on trades. 

All of these methods can be used to generate revenue from Binance.

Binance exchange allows its users to create an account or sign up without paying any fee for this process. They have to undergo a Know Your Customer procedure that is also free. 

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The time that a user pays any fees on Binance is when they want to carry out a transaction. For instance, when they swap tokens, they have to pay fees. They charge 0.10% spot-trading fees and 4.5% on purchases made with debit cards. 

When they mint an NFT on Binance Marketplace, fees are also paid.

Spending with your Binance Visa Card is just as easy as any debit or credit card. However, rather than spending fiat currency as in the case of traditional debit cards, Binance cards hold your digital assets. Also, topping up your card is easy as the card is connected to your Binance account. 

Keep reading to find out how the Binance visa card works and how to fund it.

The Binance visa card works by converting your digital assets into fiat currency. Thus, it allows you to spend money with ease in about 60 million locations globally. 

The Binance visa card is powered by Swipe technology. Thanks to swipe technology, paying online and offline payment is easy as funds are easily converted. 

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In addition to seamless payments, the Binance visa card doesn’t charge extra fees for maintenance, transactions or subscriptions. However, for EUR transactions, you’re likely to be charged third-party fees. Also, you have the option of acquiring either a virtual or a physical Binance visa card. 

The first step in topping up your Binance visa card is to fund your wallet. Your Binance wallet stores and secures your crypto and fiat funds. Also, you can send your funds using the Binance pay option or your Binance visa card.

In addition, your Binance visa card supports a handful. of currencies and tokens. These tokens are easily converted into your Binance card for spending. They include SANTOS, BNB, ETH, BTC LAZIO, BUSD, PORTO, SXP, DOT, USDT, ADA and EUR. 

Furthermore, there are two ways you can find your Binance Visa card from your spot wallet. Also, funding your wallet with EUR using third-party payment service providers is presently not supported. You can only find your wallet through the following ways

1st method

  • Log in to your Binance account on your mobile or PC
  • Navigate to the dashboard for the Binance visa card
  • Click on the ‘Transfer’ icon and make your transfer

Immediately the transaction is complete, you can use the transferred funds. However, note that there’s a daily funding wallet limit for each Binance account.

2nd method

  • Open the Binance app and log in to your account
  • Navigate to ‘Funding Wallet’
  • Click on ‘Transfer’

It’s that easy with no hidden charges. 

In Conclusion…

Converting and spending crypto and other digital assets is easy with a Binance visa card. The good thing about it is that it’s accepted in about 60 locations around the world, allowing users to shop with ease. Also, cardholders can get up to 8% cashback on all eligible purchases when they use their Binance visa card.

Coinbase is the world’s largest cryptocurrency exchange, with over 25 million users worldwide. The company has been in operation since 2012 and is backed by some of the biggest names in the tech industry, including Andreessen Horowitz, Union Square Ventures, and Ribbit Capital.Coinbase has built a reputation for being a secure and easy-to-use platform, which is why it’s one of the most popular exchanges available today.

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There is no one-size-fits-all answer to this question, as it depends on your individual circumstances. However, we can say that Coinbase is a reliable and trustworthy platform that has helped millions of people buy and sell cryptocurrencies.

Coinbase and Coinbase Pro may be similar, but they have some glaring differences in their price structure. 

Using Coinbase attracts a higher fee compared to those traders that utilize the Coinbase Pro. The former tends to be used by new traders. Coinbase Pro has more transaction options with an affordable fee structure.

 

Coinbase is a custodial exchange, meaning that users may have to store their Bitcoin in the exchange when using its services. 

Coinbase, over time, has shown itself to possess a high level of security when compared to other crypto exchanges. 

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Notwithstanding, there are risks attached to storing one’s Bitcoin in a custodial exchange.

Coinbase and Bitcoin.com have varying features and strengths.

The first crypto exchange offers a wide array of crypto options, as well as numerous trading functionalities. 

Bitcoin.com caters to transactions linked to Bitcoin, Bitcoin Cash, Ethereum, and a few other cryptocurrencies. The crypto exchange also allows users to play games with their Bitcoin. 

No exchange is better than the other, as they have different elements. 

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