Binance – which is home to over 100 million users worldwide – has facilitated trillions of pounds worth of trading activity in the first six months of 2021 alone. The platform offers hundreds of cryptocurrencies that you can buy, sell, and trade online to via the Binance app.
But, when you consider that various financial regulators – including the UK’s FCA, have since opened an investigation into the legality of Binance – you need to assess whether the exchange is right for you. As such, this Binance Review UK is a must-read.
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What is Binance?
At its core, Binance is a cryptocurrency exchange that allows you to trade hundreds of digital currencies from the comfort of your home. Launched in 2017 – the platform also offers brokerage services – meaning that you can buy cryptocurrency directly with a debit/credit card or bank account transfer.
In just four years of operation – Binance is now the largest digital currency exchange globally. In fact, the platform is home to more than 100 million active users and in the month of May 2021 alone – facilitated $2.4 trillion in trading volume. On top of its main exchange and brokerage services, Binance offers a number of other key features.
This includes a cryptocurrency savings account – which allows you to earn interest on your digital currency investments. Binance is also home to a digital asset debit card that is backed by Visa, as well as a cryptocurrency loan facility. Binance is also behind the Trust Wallet, which allows you to store your cryptocurrencies safely via an iOS and Android app.
Binance UK Pros and Cons
Don’t have time to read our Binance review UK in full? If so, check out the pros and cons compiled by our Binance review team.