Daily there are innovations in cryptocurrencies that require new tools for users. From the simple interface for buying BTC and ETH to the advanced trading interface, crypto exchanges and wallets are constantly creating tools to make trading easier and more effective for users. Some of these tools are often made user-friendly to help integrate new crypto users into the market. In contrast, others are sometimes difficult to understand due to their advanced features.
Binance, a world-renowned crypto exchange, introduced the Lite version of its application in 2021. Since then, there have been questions about how the Lite version differs from the professional version. Therefore, this article will examine the major differences between Binance Lite and Binance Professional. The information provided in this article would help you effectively choose which version best maximizes your crypto experience. But let us begin by explaining what each version means.
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What is Binance Lite?
Several times users get confused when they open the Binance app and see a simplified platform and wonder if they have the wrong app. Binance Lite is the default version for new users on the Binance app. So when a user downloads the Binance app and first launches, they are presented with the Lite version.
To present a simplified interface to users, Binance created the Lite version, a streamlined aspect of the main Binance app. Binance created the Lite mode to promote speed, simplicity, and ease of use for new users trading cryptocurrencies. Therefore, the Lite mode simplifies everything from the main Binance app and only presents features essential for trading crypto to users. The Lite version has been a great tool for introducing new users to the crypto space without overloading them with information about NFTs, DeFi, and more.
Also, it is quite easy to switch between Lite mode and Professional mode. The image below shows how to switch from Lite mode to professional mode.
On the other hand, Binance Professional refers to the main aspect of the Binance platform, which houses all the features of the popular crypto exchange.
What is the Difference Between Binance Lite and Binance Professional?
Now, let us go ahead and highlight the differences between Binance Lite and Binance Professional. Although there are some similarities between both, there are still clear differences between Binance Lite and Binance Professional.
The foremost difference is that the Binance Lite emphasizes usability over numerous features. This means that the many features in the Professional version are limited in the Lite version to only key features needed for buying and selling crypto. Users get the NFT platform, P2P features, futures trading, spot trading, and many more with the Professional version. However, the features are more simplified in the Lite mode. Users get a simple dashboard showing prices of crypto and a simplified chart feature.
Another difference is that the Lite mode is user-friendly while Binance Professional can be difficult to navigate for new users. The simplified platform makes it easy for new users to learn to trade crypto, while users of the Pro version get technical charts and indicators.
The Binance Lite mode offers easy access to users’ wallets and portfolios from the navigation bar, while for the Professional mode, users might need to check through their profile. So, users have quicker access to wallets in Lite mode.
Binance Professional has things like Binance P2P, NFT marketplace, futures trading, spot trading, staking options, and more. Binance Pro allows users to buy coins, NFTs, and stake tokens to earn passive income in crypto. So, it offers the full buffet of Binance services. In contrast, Lite mode allows buying and selling of cryptocurrencies alone.
Another major difference between Binance Lite and Binance Professional is the individuals they are ideal for. Due to the features and priorities of each version, they are more suitable for a certain group of crypto users. For instance, the Lite mode is best for crypto newbies; hence, it is the default mode. Also, for long-term crypto hodlers who rarely trade, Lite mode is suitable because it allows them to buy or sell their coins and monitor their portfolios without
navigating through a myriad of features. It is also suitable for current crypto users who already understand how to navigate a crypto exchange and can easily find their way around the Binance platform. Lastly, the Professional mode is ideal for people who seek to do more in cryptocurrency beyond trading coins. These people seek to maximize all the features on offer by arguably the largest crypto exchange in the world. These people need access to P2P, futures, NFTs, and more.
In summary, to cater to various types of crypto users, Binance created the Lite mode, and although both the Lite mode and Professional mode differ, each has its usefulness.
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