Binance has been my favorite exchange for a long time and it just got way better!
If your not using this exchange, I'm going to tell you a why you should, and also give you my referral code here.
It started out as my favorite due to their very low trading fees and the fact you can reduce those fees even less by using there BNB coin to pay your trading fees. This means when you use the BNB coins to pay your fees they are 0.05%.
I also loved the option of coins and the selection of ETH trading pairs they have. This was one of the first places I was able to trade for EOS. They also have the only ETH/STEEM trading pair, and I prefer to use ETH over BTC when I am sending between exchanges and wallets, or for parking a bit of crypto.
Sign Up
I love the fact that the only thing they know about me is my email address, there was no additional information needed to create the account and sign up. They do have a verification process but it is not mandatory, but will increase your 24hr withdraw limit from 2 BTC to 100 BTC. For me 2 BTC is more than enough of a 24hr limit.
Referral Program
This program is a nice bonus really, I don't think it's going to make anyone rich. For everyone you refer you will receive 20% of the trading fees they pay as a commission. This program also had one huge problem, they were paying you in whatever coin your referee was paying there fees in. Which meant you have a bunch of worthless dust that wasn't enough to trade on the exchange for anything.
New Changes
This is where the exciting new change comes in. You now have the option to exchange all these small balances to BNB coins with one click of a button.
So any balances you hold worth less than 0.001 BTC, which were previously untradable can now be converted instantly to BNB.
You can see above I had 14 small balances from referrals, They have been sitting there for a while mostly just annoying me, it never really had a lot of value, but now I can finally get it all clean up, and have a few BNB coins that really just means some free trades. I like anything free and it does all add up. This dust I converted tonight was worth about $2.60.
There's my exciting review and details about there new feature, if your still not using Binance, I do suggest checking it out. And once again here is my referral code.
Footer by @bearone
Thanks for sharing this excellent new feature. I have always known that Binance is the best exchange and I too was originally drawn there for the insanely low trading fees. This new feature is really great as I too have many different fractions of coins that were previously unusable, which fortunately I can convert to BNB now.
Yeah, those damn dust coins I couldn't trade were my one big annoyance with the exchange. Love this new feature.
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The main reason I love Binance is that you can open an account anonymously with very little personal info given. Thanks to the security threats these main exchanges face on a daily basis, i get very paranoid on the amount of personal information I am asked to give in order to open an account on an exchange.
Yeah, one of my favorite features too. I do most of my trading on there now.
I just moved over to Binance a few weeks ago after using Bittrex religiously. I like the wider range of coins and the fact they have EOS too! Great post.
Yeah, having the EOS listing was the reason I signed up in the first place, but I feel in the love with all the ETH listings.
I was just discussing the "convert feature" with my buddy earlier today! Great change indeed! I don't have enough social following on the crypto scene to generate many referrals, but very happy for you! Maybe one day when they fire me from my day job I can trade crypto all day! ...and I'll use Binance to do it!
Well I hope you don't get fired man, but at least you have a back up plan...lol.
That's a nice little update. I have a few "dust balances" myself, so I'm going to make sure to trade these into BNB the nest time I'm on Binance.
Yeah, it's great to have a few BNB to lower your fees even more as well. I bought a few when I started and have been amazed to actually see them rise as much as they did.
I would use Binance If it had listed PKT :(
Great little feature. No more dust sitting around!
Coins mentioned in post:
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