Is binance safe as an Exchange Broker

Bitcoin cryptocurrency investment is on the rise. The profits reach hundreds of percent. Where can you buy and sell bitcoin and crypto safely, regulated, and with low fees? Initially, I did not pay attention to the development of cryptocurrencies. But the development of this type of currency investment at the end of 2020 is very interesting.

Understanding cryptocurrency Exchange

First, the price of Bitcoin, the most popular type of crypto coin (token), has increased quite dramatically. In just a matter of months, its value rose to a new all-time high. Bitcoin is up 354% in 2020 while hitting a record high in 2017. It beats the returns of other financial assets. Also important, this increase was driven by a number of fundamental factors. It didn’t appear to be out of sheer euphoria, as was the case before.

Second, I observe that cryptocurrencies are increasingly being accepted as a means of payment. I myself have experienced it firsthand, the request is paid in cryptocurrency for a digital transaction. The decentralized nature of cryptocurrencies, without a central bank, makes it easy to make transfers in the digital world. Perfect for online buying and selling payments.

Trading in crypto assets has been allowed in some of the countries. The rising price of Bitcoin makes many people ask how to buy and sell bitcoin, where to buy and sell bitcoin, what is the name of an official and safe crypto application. In contrast to stock transactions, where investors use brokers who will transact on the exchange, in bitcoin or crypto assets, investors do not go through a broker but directly transact with other investors on the crypto exchange platform.

So, the term is not a broker, but an exchange, as a marketplace that brings together traders for buying and selling, transferring and storing crypto assets. Crypto transactions are bridged by the exchange.

The importance of crypto wallet

Each investor will get a different wallet address. As a digital app, is binance safe? Binance is a crypto wallet that can be accessed through digital devices, both smartphones and computers or laptops. Cryptocurrency is a virtual asset that does not have a physical form but can be used and felt the benefits are real. Therefore, ownership must always be maintained so that it can be used for various purposes and user needs.

However, if you think that these cryptocurrency assets can be stored in a crypto wallet like conventional currencies, then you are wrong. Crypto wallets do not technically store cryptocurrencies, as the owner of all types of currencies resides on the blockchain, which can only be accessed using a private key. Check out the coinbase vc binance review which is an application that allows cryptocurrency users to store and retrieve their digital assets. In general, the function of this crypto wallet is the same as a digital wallet for conventional money.