As the world's biggest cryptocurrency exchange, Binance works with a tremendous amount of exchanging volume every day. I'm personally using it since 2019 and I'm very happy with it
BUT...
There are a few concerns that you should be aware of. The first one is that it's not decentralized like BTC or ETH. There are only 21 nodes on the Binance smart chain, while ETH has 3 thousand nodes or BTC with 14 thousand nodes. Also, the Binance chain is full of scam projects, almost every day a project on the Binance chain is rug pulled...
Well,
in my opinion Centralized is not always bad, not everything needs to be decentralized. I think that they both have their uses. Binance smart chain has a lot of scam coins because it's one of the easiest and cheapest ways to create new coins. The scams are an unfortunate byproduct.
Binance as one of the biggest exchanges in the world makes it easy to access for many people in different countries and the fees are very low compared to others.
For all the hate Binance gets, it introduced crypto to me and thousands of more users. Even after all these hits it takes all over the world, in my opinion it is one of the most solid exchanges.
Please let me know what you think
