Post
Topic
Board Trading Discussion
Re: What factors do you consider when opening a trade position?
by
Zaguru12
on 08/11/2024, 23:08:28 UTC
I'm just like you. When I first entered the crypto world, I immediately used Binance because I first researched good and safe exchangers, then learned about crypto and the features available on Binance, initially starting from spot, staking, joining the launchpad, NFT, mining, and up to Future. There are also other exchanges, it's just that I prefer Binance in many ways.

At first, I was often confused by its appearance, but over time I got used to it so that I learned technical, fundamental, risk management, and others. Finally, I can be comfortable with the Binance exchange. In essence, choosing an exchange is not really a matter of cheap fees or anything else, the most important thing is about our comfort in transacting and of course security. Although there is no safe exchange, we can see exchanges that are trusted by many people.

It’s better you made the correction of there is no safe exchange out their rather it is the popularity among the crypto community that differentiates them and that’s why binance stands ahead in terms of liquidity because of large traders there. But there are other exchanges that many traders do prefer aside binance with reasons like; the bonuses like having lower fees, having higher leverages, giving out more future capital due or referral bonuses or most importantly having many trading pairs due to lunching many tokens. Many future traders loves trading newly listed tokens and binance hardly list tokens easily on their exchanges or talk less of derivatives.

The other thing is familiarity base on maybe UI/UX of the trading section of the exchange as this tends to actually discourages people from using such exchanges too and attract others too. Other than that the most important aspect has always been offering of high liquidity to future traders