This is branded content for Binance Australia.
With reports that more than half of all Australians are planning to invest in cryptocurrency this year, deciding on the best cryptocurrency exchange to use will be one of the important choices they’ll need to make.
It may be 14 years since the creation of the first cryptocurrency, bitcoin, but there is still a lot of confusion by many about the intricacies of this new decentralised finance (DeFi) system, what its practical use is and how to go about dipping a toe in the water.
Like any financial system, doing your research before entering the market is crucial, including finding out which cryptocurrency exchange best fits your needs.
A cryptocurrency exchange is an online trading platform that works in a similar way as a broker, allowing you to buy, sell and exchange cryptocurrencies, and convert fiat currency – a currency established by a country’s government regulation or law such as Aussie dollars – to cryptocurrency and then back into fiat when needed.
“For newcomers, investing money in cryptocurrency may seem scary because of the lack of traditional institutions in the space, but a good cryptocurrency exchange will make it easy to buy and sell the currencies you want, with low fees and strong security features,” said Liam O’Doherty, from the Australian arm of Binance, the world’s largest cryptocurrency exchange.
“It should also have a good solid track record of supporting its customers with education and keeping them informed about the latest developments in the field.”
This year, Binance’s position as a leader in its field was once again acknowledged at this year’s Finder Crypto Trading Platform Awards program which recognises the best platforms for investing in crypto in Australia.
Finder’s cryptocurrency experts and data scientists scored crypto trading platforms on a comprehensive list of 61 criteria across 25 platforms.
The platform with the highest score in each category was named the winner, with the products that scored second and third highest each receiving a “Highly commended” award.
Binance won several awards including the prestigious title of Best Global Crypto Trading Platform, Best Crypto Trading Platform for Extra Features and Best Crypto Trading Platform for Advanced Trading.
Finder’s global cryptocurrency editor James Edwards said Binance “continues to push the boundaries on what an exchange can offer”.
“If there is such a thing as a crypto super app, this is it.” he said. “In the highly competitive world of cryptocurrency trading, Binance has once again proven itself as a market leader, securing prestigious recognitions in Finder’s 2023 Crypto Trading Platform Awards across Australia, Canada and the global market.”
Disclaimer: This information is of a general nature only and should not be regarded as specific to any particular situation. This should not be taken as financial advice to buy, trade, or sell cryptocurrency or use any specific exchange. This is not intended for use as investment, financial or legal advice as each individual’s need will vary.