With more than $1.5 billion raised from its initial coin offering (ICO) earlier this year, the cryptocurrency market has become increasingly dominated by the world’s top players. After luring in early investors with astronomical returns, some of the big names in the industry are now looking to expand their operations into less-developed markets.
This influx of capital has spawned a number of new cryptocurrency exchanges, some of which have managed to gain a foothold in a highly competitive market by offering superior services at a fair price.
In this Binance review, we’ll take you through everything you need to know about this world-leading exchange, as well as its token sale, Binance Coin (BNB).
Is Binance a Good Entry Point for Purchasing Waves?
Waves is a decentralized blockchain platform that launched its token sale in April 2017. The project’s primary aim is to develop the blockchain ecosystem for businesses by leveraging the existing popularity of its native token, WAVES.
Owners and operators of businesses on the Waves platform will be able to easily integrate their services with the blockchain technology, drastically reducing the costs and time involved in offering new services.
Waves’s ICO raised a total of $16 million, which at the time made it the second most successful token sale in the industry (after Ethereum’s presale). With a current market value of more than $2 billion, Waves is one of the most popular cryptocurrencies in the world.
However, being a top-10 coin doesn’t mean that it’s easy to buy. Buying additional WAVES with fiat currency is relatively straightforward, but purchasing WAVES with another crypto is not as straightforward.
You’ll need to find a reliable source to purchase WAVES. Fortunately, there are a few platforms enabling you to do so.
How to Buy Waves with Binance
If you’re in any of the following countries, you can purchase WAVES with fiat currency on Binance:
TradingView users can click here to view a complete list of countries where Binance is available.
Navigate to the funds tab in your account and select the currency you’d like to deposit. You can choose between:
- Credit Card
- Bank Account
- Once selected, the funds will be sent from your account to the exchange. At this point, you can select the WAVES/BTC or WAVES/ETH pair and click “buy”.
You can also purchase WAVES with other cryptocurrencies on Binance. Simply navigate to the “Exchange” tab in your account, select the cryptocurrency you’d like to trade, and click “buy” next to WAVES.
Binance Exchange Pros
- Low Fees: While Binance’s 0.1% fee may sound high, it’s relatively low considering the volume the platform handles. – Security: Security is a top priority at all times for Binance, and the exchange uses multi-factor authentication (MFA) and a host of other measures to protect its users’ funds. – Trustworthy: Binance has proven itself to be trustworthy by standing by its word and refunding users who requested a refund earlier this year. – User-friendly: Binance has made trading crypto more user-friendly through features such as daily limit orders, intuitive charts, and a one-click automated buy/sell feature.
Binance Exchange Cons
- Reputation: Binance has a good reputation among its users, but this could change if the project suffers a major hack. -New Users: New users may have difficulty in finding solid information regarding the best way to obtain WAVES. – Poor Liquidity: Although Binance may have some of the largest trading volumes in the industry, it doesn’t have the best liquidity as far as the number of WAVES assets traded.
Final Words: Should you buy Waves on Binance?
Binance is a great place to start your foray into the world of Waves if you’re looking for a user-friendly platform with low fees and lots of trading options.
You can purchase WAVES with other cryptocurrencies on the exchange, though you’ll need to do a bit of research to ensure you purchase the correct amount.
Waves is a top-10 coin on coinmarketcap, and its blockchain technology could revolutionize the financial industry. If you’re interested in buying WAVES, Binance is a good place to start.
However, there are other platforms that can handle purchases and sales of WAVES with ease.
If you’re interested in dipping your toe into the world of cryptocurrencies, we recommend you purchase a small amount of WAVES on Binance and see how you like it before investing a substantial amount.