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Home CryptoCurrencies Binance DEX Cryptocurrency Exchange Review : Fast and secure decentralized

Binance DEX Cryptocurrency Exchange Review : Fast and secure decentralized

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About Binance DEX

Binance DEX Chain is a blockchain initially developed by Binance. It’s modern, safe and has near-instant transaction finality (it’s fast). Binance DEX is a decentralized order matching engine, powered by the core Binance Chain technology.

Binance DEX is a modern and secure marketplace for issuing and exchanging digital assets, and no-one other than you holds your keys. Trading your favorite assets.

Operating company

Exchange name Binance DEX
Support 24/7
Number of currencies handled Over 33 types
Futures trading Present
Place Order free
Deposit Free
Official site https://www.binance.or

Binance DEX Account Registration Method

  • First, click “Sign Up” in the upper right corner from the Binance DEX top page
  • Then set up your email address and password.
  • After setting the mail address and password, click “Get code”
  • Since an e-mail code is sent to the registered e-mail address.
  • If you click “Get code”, there is a time limit of 60 seconds, so let’s input within 60 seconds.
  • Finally, check the agreement of the terms of service and check “Sign Up” and register your account with Binance DEX.

Fees

They have five kinds of order operations, each kind has its specific fee calculation logic and collection timing as the table described below.

Operation Calculation Collection Timing
Place order free
Cancel order fixed fees when the Cancel transaction executes
Order expire fixed fees if fully expired, otherwise free when the scheduled order expiration happenes
IOC order cancel fixed fees if fully canceled, otherwise free when the IOC order is not fully filled
Order execution rate based fees when the order matched

How to setup 2-step authentication of Binance DEX

When registration of account is completed with Binance DEX, let’s set up two-step authentication first for security strengthening.The application “Google Authenticator” necessary for two-step verification.

  • In 2-step verification, click the “Security” button from the Account button on the upper right of Binance DEX home screen.
  • From the Security screen click “Setting” at the right end of “Google Authenticator”.
  • Load QR code in Google Authenticator of the application. Save the secret (backup) key described next to the QR code.When you click Get code of ①, an e-mail code is sent to the registered e-mail address, so enter this code into ②. (* With a time limit of 60 seconds)

    Next, entering the code displayed in Google Authenticator in ③ will make it possible to press the ④ button, so pressing this button completes 2-step authentication setting.

  • As for 2-step verification and Google Authenticator, we summarize in the following article so please refer to it together.

BNB (and Other Coins) MainNet Switch

Binance Coin (BNB) was an ERC20 token on the Ethereum network.
After the launch of Binance Chain, Binance Coin (BNB) is being converted into native BNB tokens on the main network via the exchange platform at binance.com, a pragmatic and efficient way to perform the initial token swap.

Binance Chain is ready for other projects to migrate their tokens to take advantage of performant transactions with more liquidity options and native marketplace features.
More information about how projects can set themselves up for this (via binance.com or partners) will come soon.

Trading on Binance DEX

Binance DEX is the native marketplace on Binance Chain, allowing you to exchange digital assets issued and listed on it. The matching happens within the blockchain nodes and all of the transactions are recorded on-chain, therefore forming a complete, auditable ledger of activity.

Why Binance DEX

Low Trading Fees

Trade with no withdrawal, deposit, or order placement fees — and BNB holders benefit even more.

Decentralized

Experience direct wallet to wallet trading without any third party or central authority.

Safe and Secure

Your funds are stored on a blockchain address with a private key that only you control.

User Friendly

Create a wallet, unlock your wallet, and you’re ready to trade. No need to deposit or withdraw.

t’s a Community Initiative

Binance DEX is powered by on-chain governance and open source software components.

Customer Support

You can get access to customer support at Binance DEX  through a customised ticket system. To raise a query, enter your name, email address, write a brief description and one of the listed categories in a drop-down menu and submit the ticket.There is also a frequently asked questions (FAQ) section which addresses most basic queries. In addition, you can send an email at team.

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Vernahttps://coinworldstory.com
One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 2100+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.

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