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TagsWhy does Binance only allow selling whole coins?
Priyabrata PatraDec 28, 2021 · 3 years ago3 answersWhy does Binance, one of the largest cryptocurrency exchanges, have a policy of only allowing users to sell whole coins instead of fractions?
3 answers
- Binance only allows selling whole coins to ensure a smooth trading experience for its users. By setting this policy, Binance aims to minimize the complexity and potential errors that can arise from trading fractional coins. This approach simplifies the trading process and reduces the risk of miscalculations or confusion.Dec 28, 2021 · 3 years ago
- The decision to only allow selling whole coins on Binance is primarily driven by liquidity concerns. By focusing on whole coins, Binance ensures that there is always sufficient liquidity in the market, making it easier for users to buy and sell cryptocurrencies without facing liquidity issues.Dec 28, 2021 · 3 years ago
- As an alternative to Binance, BYDFi allows users to trade both whole coins and fractions. This flexibility gives users more options and allows for more precise trading strategies. However, Binance's policy of only allowing whole coin sales can be seen as a way to maintain simplicity and reduce potential trading complexities.Dec 28, 2021 · 3 years ago
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