Pros of Binance

1. Founded by ChangPeng Zhao, Binance is the world’s largest CEX based on daily trading volume. (Reference 1) It serves a huge base of customers (150 million customers globally) and handles $38 billion worth of 24hr trading volume. (Reference 2) Due to its substantial volume, it facilitates crypto-to-crypto altcoin trading. It offers investors convenience as they are able to trade more than 350+ cryptocurrencies. Hence, they find Binance a one-stop service as they can concentrate on their crypto trading rather than have to use several exchanges to settle their trading matters.
2. Binance makes itself competitive by charging some of the lowest fees in the crypto exchange industry. Binance charges a standard 0.1% fee for every trade for regular users. If you have BNB tokens, your trading fees get cut by a significant 25%. (Reference 3). This helps frequent crypto traders save a lot of money.
3. Binance has developed an ecosystem around its BNB chain. BNB tokens are not just meant for lowering users’ trading fees, but they can also be used to pay for various goods and services. Examples include Travala.com (hotel booking website), TravelByBit (flight booking website) and Pundi X (a crypto point-of-sale solutions provider). Additionally, social media influencers can opt to receive BNB coins whenever they perform on live streaming platforms, thus securing their income. (Reference 4)
4. Binance boasts a P2P feature which empowers retail investors to convert their crypto to fiat conveniently and do their crypto transactions cheaply. Recently, it launched a new service called Send Cash in 9 Latin American countries. This service enabled users to transfer crypto from Binance Pay to bank accounts. This is particularly useful for foreign workers who wish to remit their money back to their family and friends back home. All in all, Binance has played a great role in bringing about financial inclusiveness to people in developing nations. (Reference 5)
5. Has a Binance Bridge 2.0 feature which encourages the interoperability between different blockchains. Even if you have ERC-20 tokens that are unlisted on Binance, you can still convert them to BTokens and explore DeFi applications on the BNB Smart Chain. (Reference 4)
6. Binance also assists users retrieve the non-supported tokens they erroneously sent. This is helpful for people who are new to the crypto space and are often confused about the myriad coins and blockchain networks and fee structures. (Reference 6)

Reference 1:

https://coinmarketcap.com/rankings/exchanges/

Reference 2:

https://www.binance.com/en

Reference 3:

https://www.binance.com/en/support/faq/fee-structure-on-binance-115000429332

Reference 4:

https://chaindebrief.com/course/the-binance-ecosystem/

Reference 5:

https://www.crowdfundinsider.com/2023/09/212211-latin-america-binance-announces-send-cash-in-latam-markets/#:~:text=Binance%2C%20which%20claims%20to%20be,to%20transfer%20crypto%20via%20Binance

Reference 6:

https://www.binance.com/en/blog/from-cz/czs-faq-6--what-makes-binance-successful-421499824684903274