Binance – All you need to know about the World’s Largest Bitcoin Exchange

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Article Index:

1. Introduction

2. What is Binance in simple words?

3. How can we access recent news and updates on Binance?

4. The Digital Currencies or Assets supported under the Binance Trading Platform

5. What is Binance Dex?

6. What are Binance Fees? How is the transaction or trading fees in Binance levied? 

7. Does Binance have its own social media site? Is it called as Binance Twitter?

8. How can anyone access the Binance Login?

9. Does Binance have its digital currency? What is it called? Binance Coin? 

10. Conclusion

 

1. Introduction:

Binance, almost everyone would have heard of this word, whoever has got interested in virtual currencies or its exchanges. Yes, Binance is another platform for the exchange or trading of digital currencies in the world. 

So in the above article, we will discuss the crucial things about this eminent trading platform and also some essential facts about virtual currencies.

Access Binance exchange here.

 

2. What is Binance in simple words?

Do you guys remember pomato in our biology lessons? Yes, potato and tomato were together getting called as pomato. Binance is very similar to this naming as Binance means binary and finance. 

So in simple words, we can tell that Binance is the combination of Binary functions and finance along with it. Binary services are nothing but the digital or virtual encryptions provided in cryptocurrencies, and funding means trading or investment.

Apart from providing a platform for people who get interested in digital currencies, Binance also houses a high-performance framework that processes around 1,400,000 orders per second and is known for its higher rate of liquidity. 

Binance also comprises of abundant resources inside it and is also partnered along with eminent members of the industry. In terms of trading volume, Binance is also the biggest cryptocurrency exchange in the world. 

 

3. How can we access recent news and updates on Binance?

Binance News is a platform that feeds you with the latest news on Binance and its exchange system. It also provides you with the most recent updates and news surrounding the domain of virtual currencies. 

 

4. The Digital Currencies or Assets supported under the Binance Trading Platform:

Binance is an exchange platform that houses many types of eminent digital currencies and crypto assets in it. 

The platform not only offers many types of digital currencies but also presents trading of many virtual currencies such as Bitcoin, Ripple, Binance Coin, Basic Attention Token, Ethereum, Litecoin, Tether, ZRX, USD Coin, Tether and many more.

As already mentioned, Binance is a platform which emphasizes on trading and exchange of digital currencies. Binance also provides a wallet for all its customers and traders in which they can store all their digital assets safely. Safely? Yes, because all these wallets get encrypted with security codes which are available only to the user. 

We can also see that Binance has its digital currency by the name Binance Coin. Other than all these features, Binance also supports the traders in providing them with eminent trading programs to help them in making better investment decisions.

 

5. What is Binance Dex?

Binance Dex is another exchange that is running on the Binance Chain platform. More specifically, we can call Binance Dex more as a decentralized exchange platform running on the Binance Chain.

The primary purpose behind launching Binance Dex was to increase customer engagement and empower the overall community growth. It also meant to foster the long term vision of the industry, which is peer-to-peer trading. 

Binance believes that decentralized exchanges help in bringing new possibilities in the community along with that it offers a transparent and trustless transparent system. They also comply that Binance Dex helps in providing you more control over your digital assets. 

6. What are Binance Fees? How is the transaction or trading fees in Binance levied? 

Every day in Binance, the BNB balance gets evaluated over the past 30-day period. Correspondingly, the tradings fees or the maker fees at your level get updated every hour once the balance gets updated. 

Binance fees are nothing but the trading or exchange fees that get levied by the platform for completing one transaction. It charges a fee of 0.1% in each sale. It also allows special offers of a 50% discount on trades or exchanges done using the Binance Coin

Binance also provides a 10% discount to all its customers who refer others to use Binance through their unique link. Through this link, not just the person who saw gets a 10% discount but also the person who accessed the link to use Binance. 

Binance doesn’t offer any transaction fees for depositing or withdrawing the digital assets from it. The costs of Binance are meager compared to other trading platforms, and hence we can call out Binance as a clear winner among all of them. 

 

7. Does Binance have its own social media site? Is it called as Binance Twitter?

Binance Twitter is the official social media handling site of the Binance platform. The prime motive behind laughing this platform is to create a communication link between Binance and its followers. 

The official twitter of Binance @binance has more than one million followers, and it continually supplies various updates regarding digital currencies and Binance to all its followers. It also helps it in analyzing what the followers are expecting from it and act accordingly. 

 

8. How can anyone access the Binance Login?

Accessing the Binance login is quite a tiresome but easy task, as it consists of several steps out of which some are mandatory, and others are optional. Though all the steps are natural, it derives a lot of time out of you as security is the chief motive of the Binance platform. 

8.1 At first, you have to reach the registration page at the Binance online portal. 

8.2 To receive a personal account login, you have to validate your email address, and unless you confirm your email address, you won’t get provided with one. There are four fields in the starting page, out of which three are mandatory. 

8.3 The three required fields are your email ID, Password, and Confirm Password. 

8.4 Once you fill in these three fields, you can check the box which gets presented next to ‘I have read all the conditions’ and then click ‘Register.’

8.5 Once this step gets finished, you will get presented with a code and a page where the Binance security system will provide you a puzzle to solve. 

8.6 Once you solve the problem successfully, you will get full authorization from your account. Unless you answer it accurately, you will fail to get the approval, and you have to repeat the procedure until you solve it. 

8.7 You will get successfully registered to Binance once this step gets completed. You can access the Binance login easily from here. 

8.8 Later, you have to undergo some mandatory steps which will get guided by the website to keep your account safe and secure. 

 

9. Does Binance have its digital currency? What is it called? Binance Coin? 

Binance Coin is the digital currency issued by the Binance trading platform. Today, many businesses all around the world accept Binance Coin as a form of payment. 

This attribute shows the level of trust and fame Binance Coin has inherited from its customers. It is also one of the most lucrative digital currencies compared to the other virtual currencies.

 

10. Conclusion:

The prime mission of Binance is to help the industry projects which support it later in growing a broader blockchain ecosystem. It wants to increase the adoption of this digital currency sector globally, by letting know the people the full potential and the level of impact this blockchain technology can create.

The above states the numerous features of the biggest cryptocurrency exchange in the world, Binance. We have also discussed some of the crucial things about Binance, such as Binance coinBinance fees, and others. These commodities are essential to know for every trader or merchant who wants to invest in this trading platform. 

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Shreyas
Shreyas
Hello, this is Shreyas A. Being a mechanical engineer by profession, he loves content writing as it has been his passion driven till now. He loves writing on various topics such as General Knowledge, Travel, Politics with Technical Writing being his strong forte. He also loves to try out writing on different subjects which aren't explored till now 🙂

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