I'm so excited that Binance just listed Steem!
Binance has been my favorite cryptocurrency exchange every since I started using it, and I've been waiting for the day they finally list steem. I've been having to trade elsewhere and send coins over to Binance for trading.
Source-and link to official steemit-blog announcement.
Binance has been my go to exchange for slowing adding some more EOS and that's the only reason I first opened the account there, but then it opened my world up to so many other alt coins. From the announcement post above it looks like it is now the #2 exchange by volume and the fastest growing exchange. You only need your email address to sign up, and only need to verify if you want to withdraw more than 2BTC worth/day so this is really a big plus if you want to stay anonymous.
Why is it my favorite exchange
I'm going to start by saying I'm no expect and still mostly a noob, so please don't take any of this as financial advise.
ETH pairs
The main reason I love it so is the amount of ETH trading pairs, pretty much any coin I trade on there can be traded for ETH or BTC. While on the others I use it's usually only BTC. When I don't have a bit invested or have sold a bit of my coins I like to park it in ETH and wait to re-enter the alts. I was considering using USDT for this but I think I'll stick with ETH. I also prefer using ETH over BTC when I am funding and withdrawing from the exchanges to avoid fees and delays.
Coin Options
This exchange seams to a have a lot of coin options that I wanted and they seam to be adding more rapidly. It was the easiest exchange to use for me to buy EOS and POE early on and have since used it for many more trades.
Fees
It has very low trading fees of 0.1%, and currently they also offer a 50% reduction of fees if you use there BNB token to pay the fees. This is what I do not only for the discount but because having them deduct the 0.1% from a purchase of 1000 Coins, means I'm left with 999 and this really annoys me, likely a bit of OCD, so if your in the boat be aware of that, it's my one major complaint with the exchange.
![IMG_5839[1].PNG](https://steemitimages.com/DQmRBwr9GgTf8XkcgDTowYk4ZauvJuCvLQtYt6DxsqR1XGR/IMG_5839%5B1%5D.PNG)
Layout and mobile version
I really like the layout of the site, I find many of the other exchanges a bit overwhelming and maybe too busy. It is easy to navigate. I really just like the black background that reminds me of night mode around here. I really like is there mobile version, it is very well adapted and easy to use so I can make a quick trade when I'm out and about. Last thing I like is logging in and sliding the little puzzle piece into the outline, it's kinda fun and way better than clicking what photos have cars!
Referral Program
It may be tacky to mention this but I'm going to do it. They have a referral program where the person who refers your gets a portion of the fees you pay. It used to be 50%, but now it's down to 20%, I'm sure at some point they will get rid of it, but for now it's a nice little bonus, but I'm sure if you have a big following or refer a couple super traders this could really be lucrative. If you look here they show the top referrers and looks like at least a few guys have earned over 100BTC worth of referral commissions. So this is of course where I drop my code in this link.
![IMG_5840[1].PNG](https://steemitimages.com/640x0/https://steemitimages.com/DQmYW8rrB8csmHm27zUBi5MqvAPQeMhyoaU13CGqrh3d2Nh/IMG_5840%5B1%5D.PNG)
It's interesting that they only chose to list STEEM and not SBD, but a lot of the commentary I was reading about this was pretty positive, and said that is shows a certainly maturity in STEEM as a currency on it's own right and a promising crypto to invest in even outside of the steemit platform and beyond just the use a rewards for the content creators here.
We'll just have to wait and see what comes next, but I really think the future is looking up for STEEM
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Nice article Pheli
hmm maybe I need to give it another go. my first experience was that it wouldn't show the addresses to deposit any ETH or BTC.. (A result of some maintenance they'd done) and second it took 3 hours for my BTC to show up when I finally did get a chance. But it does have a few ALTCOINS I'm after. But regardless - STEEM listing on another exchange (and particularly without SBD as well) is good news all round
Sweet, this can only be good for steem
This is exciting news. Good to see Steem gaining in the crypto space.
@phelimint Very nice write UP of Binance. I have had an account with them since December.
It's really good to get STEEM listed without SBD. I think the outside world gets confused between the two, and throws a huge spanner in the SBD peg works. This will hopefully help to restore the peg, and unleash STEEM to go to new highs. They just mustn't add SBD anytime soon.
One of the things that really attracted me to binance is I didn't have to send them photo ID to start trading. Yes, transaction fees are low, but I will say the withdrawal fees are a little bit on the high side for my taste. If I have a small balance or a particular currency I'll just end up leaving it on the exchange. Thanks for posting, by the way. I wasn't ware they'd listed STEEM :D
Super Sweet Action!!! Thx for heads up P-mint
They just listed Steem? That's frickin awesome. My friend mentioned he had bought a little, but he didn't say 'on Binance.' Thanks for sharing! Maybe I'll shift some of my TRX in to? lol
I saw a post about STEEM being added on Binance this morning. I quickly jumped onto Binance on my phone and there is was. I have been waiting for STEEM to be added onto Binance for so long, so I am very excited about the news. This should be great for the trading volume of STEEM.
Nice educational on Binance, I too was thinking about signing up after they accounced steem would be on it! About that 20% commission - thats a lot just for referring someone.