Since July 2017 Binance and its growing popularity is due to multiple factors, from providing its multi-lingual platform to having a clean and clear user interface, a very high performance (in data processing speed), its low commissions, Your great security or the large number of cryptocurrencies listed.
For no one is a mystery the incredible rise that have experienced the vast majority of cryptocurrencies currently, this makes every day thousands of people who are interested in entering the world of cryptocurrencies and trading. It Is important that everyone interested in this business knows what an Exchange is and, above all, that it knows of the existence of one of the most popular, which is named Binance.
What is Binance?
Binance comes from the words binary and finance, is the most recent and most popular Asian exchange in recent months, created by Changpeng Zhao (CEO of Binance, founder of BijieTech and co-founder of OKCoin), whose vision is to build a secure exchange platform, With global and decentralized scope, such a system of exchange would be oriented only to the cryptocurrencies.
This Exchange has gained great importance today, due to the wide variety of cryptocurrencies that can be marketed, such as the Bitcoin, Ethereum, Ripple among others, but certainly one of the main advantages is that it includes other cryptocurrencies That are not in the traditional exchanges.
Binance is one of the fastest growing exchanges in the cryptocurrencies market, the growing popularity of binance is due to multiple factors, from the restoration to multiple languages, having a clean and most notable user interface, a Extremely high throughput (data processing speed)
Binance not only stays in exchange but it is also an incubator and/or accelerator of projects related to blockchain that seek financing through an ICO, in which you will be able to invest, if desired, with the tokens of binance, known as the BNB.
Binance Coin BNB
Binance has its own currency, was the first exchange to launch an ICO and create its own ERC-20 token on top of Ethereum’s Blockchain to finance itself. Its token is called binance Coin, its symbol is BNB and created 200 million, which are used among other things to pay part of the commissions.
Binance, is the exchange of cryptocurrencies number one in the market, getting this milestone since it appeared in July 2017, which is not a coincidence, but it is due to a great job behind. Binance is relatively new, but is ready to become one of the essential services for every lover and user of cryptocurrencies.
Although the company started in 2017, its founder and CEO Changpeng Zhao has always been an important player in the cryptographic ecosystem and other related industries. Zhao founded Fusion Systems at 2005 in Shanghai, a company that specialized in the construction of high frequency systems for runners.
In 2013, he became the third member of the Cryptocurrencies Wallet team. Zhao also had a brief stay in OKCoin, where he worked as a CTO.
Cryptocurrencies Binance’s exchange is launching a new fiat-to-cryptographic exchange in Singapore later this month. No more details were provided through your Twitter account, such as what cryptocurrencies will receive commercial support.
As promised, Binance has been rapidly expanding its operations at the global level. In January, he launched a Fiat-to-cryptographic exchange on Jersey Island, an autonomous British dependency, which allows users to exchange Bitcoin and Ethereum against the British pound and the euro.
Zhao also provided an update on the upcoming decentralized exchange of the bourse, Binance DEX, at the Seoul event, and said that Mainnet’s launch is expected to take place this month. The platform entered public trials on February 20.
Decentralized exchanges, in which users could exchange cryptocurrencies through a block chain protocol, without the support of a single service provider such as Binance, are cutting-edge technology.
Success behind Binance
Since its inactivity in July 2017, when its ICO managed to raise approximately $15 million, concentrated its customer base in the geographic area of China. This severely affected the exchange when in September China’s government banned the exchange platforms in that country.
$15 million, concentrate its customer base in the geographic area of China. This severely affected the exchange when in September China’s government banned the exchange platforms in that country.
Maybe It was a big setback for Binance, who had to let go of a large number of customers, but despite this and the great competition with other exchanges that were operating for a while, could make a hole in the sector.
So Binance has managed to transform itself into the largest transaction volume of cryptocurrencies that do not use Fiat coins for their exchange, and often exceeds those that do.
A Great Tool
They have Also used a great tool and this is the marketing that has allowed them to get this promotion meteoric, relying on promotions, which gave important gifts to people, being the most interesting the last, where a Lucky winner got a Lamborghini Hurricane RWD Couper.
But Perhaps the biggest strategy of all was to capitalize on the demand for cryptocurrencies alternatives created through Bitcoin forks. While Other Exchange is limited to supporting Bitcoin Cash, the largest of these forks, Binance also supports the lesser known as Bitcoin Gold and Bitcoin Diamond.
And do not plan to stay with only this portion of successes, hope to broaden their horizons and despite the disruption of the market during the past year, Binance started with forces this 2019, maintaining the aggressiveness in the pursuit of their ambitions, and shows that milestone Raised for this year is the decentralized exchange that we have already commented that it allows the freedom to its users.
Currencies that can be exchanged on the platform
Binance has a wide selection of coins, currently some of the currencies that support and with which users can perform operations are: Bitcoin, Ethereum, Litecoin, Tether, Binance Coin, among many others.
Why should I open a binance account?
Binance is growing at an astonishing rate, and if this continues, it will be one of the largest exchange of cryptocurrencies based on volume of operations. In Addition, many new currencies that had just had an ICO would have a greater tendency to appear in binance compared to other large bags.