Binance, a centralized cryptocurrency exchange, is located in the Cayman Islands and was established in 2017. As of the latest data, the exchange features 358 different cryptocurrencies and offers 1420 trading pairs. Over the past 24 hours, it has reported a trading volume of approximately 356,138.98 Bitcoin. The most active trading pair on the platform is BTC/USDT.
Founded by Changpeng Zhao, who previously developed high-frequency trading software, Binance quickly became the world’s largest cryptocurrency exchange in terms of trading volume by January 2018. Originally based in China, the company relocated its operations first to Japan and later to the Cayman Islands due to increasing regulatory constraints in China.
Zhao’s prior experience includes founding Fusion Systems in Shanghai in 2005, where he developed high-frequency trading systems for brokers. He also worked for Blockchain.info in 2013 and briefly served as the CTO of OKCoin, a fiat-to-crypto trading platform. As of March 2018, Binance has also established offices in Taiwan.
Accompanying the launch of Binance was the introduction of Binance Coin (BNB), which had its Initial Coin Offering (ICO) from June 26 to July 3, 2017. The first release saw 100 million BNB tokens being distributed. Built on a BEP2-based infrastructure model, Binance Coin is an innovative blockchain asset developed by the Binance company.
Binance offers a wide range of features, including:
- Wide range of cryptocurrencies supported: Binance supports over 350 coins, including Bitcoin, Ethereum, and Tether.
- High trading volume and liquidity: Binance has the highest trading volume of any cryptocurrency exchange. This means that there is always a large pool of buyers and sellers, which makes it easy to trade cryptocurrencies.
- Low fees: Binance fees are among the lowest in the industry.
- Advanced trading tools and features: Binance offers a variety of advanced trading tools and features, such as margin trading, futures trading, and staking.
- Secure platform: Binance has a strong security track record. The exchange uses two-factor authentication, cold storage, and other security measures to protect user funds.
How to use Binance
To use Binance, you first need to create an account and deposit funds. Once you have deposited funds, you can start trading cryptocurrencies. Binance offers a variety of trading tools and features, so you can choose the ones that best suit your needs.
Is Binance safe?
Binance is a reputable cryptocurrency exchange with a strong security track record. However, it is important to remember that no cryptocurrency exchange is completely safe. You should always take steps to protect your account, such as using strong passwords and enabling two-factor authentication.
Binance Trading Services
Binance offers a wide range of trading services, including:
- Spot trading: Spot trading is the simplest form of cryptocurrency trading. Users buy and sell cryptocurrencies at the current market price.
- Margin trading: Margin trading allows users to borrow funds from Binance to increase their trading positions.
- Futures trading: Futures trading allows users to bet on the future price of cryptocurrencies.
- Staking: Staking allows users to earn interest on their cryptocurrency holdings.
Binance is committed to security and offers a variety of security features, including:
- Two-factor authentication: Two-factor authentication adds an extra layer of security to user accounts.
- Cold storage: Binance stores the majority of its cryptocurrency holdings in cold storage, which is offline and inaccessible to hackers.
- Audits: Binance undergoes regular audits to ensure the security of its platform.
Binance offers competitive fees for both spot and margin trading. Spot trading fees start at 0.1%, while margin trading fees start at 0.02%.
Binance Additional Information
In addition to the above, here are some additional things to keep in mind about Binance:
- Binance is a regulated exchange: Binance is regulated by the Cayman Islands Monetary Authority.
- Binance is a global exchange: Binance is available to users in over 100 countries.
- Binance offers a mobile app: Binance offers a mobile app for iOS and Android devices.
Binance Pros and Cons
- Wide range of trading pairs
- Competitive fees
- Advanced trading tools
- Security features
- Regulated exchange
- Global exchange
- Mobile app
- Not available in all countries
- Some users have reported customer service issues
Overall, Binance is a great option for cryptocurrency traders who are looking for a wide range of trading services and features. The exchange is regulated and offers competitive fees. However, it is important to note that Binance is not available in all countries and some users have reported customer service issues.
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Metaverse Coin Binance
Being one of the largest and most respected exchanges in the world, Binance is not listed on every Metaverse coin exchange .
Binance exchange has given great importance to Metaverse games. With the Facebook company changing its name to Meta, Metaverse coins have started to come to the fore a lot . The Binance exchange also predicted that the Metaverse sector will be a very large sector in the future by providing all necessary assistance and support to these Metaverse coins.
Binance lists the Metaverse coins it trusts and invests in on its own cryptocurrency exchanges.
Metaverse Coins listed by Bianance Exchange
- Decentraland (MANA): Decentraland is a virtual reality platform that allows users to create, explore, and monetize their own experiences.
- The Sandbox (SAND): The Sandbox is a virtual world platform that allows users to create, play, and own their own experiences.
- Axie Infinity (AXS): Axie Infinity is a blockchain-based game that allows players to collect, breed, and battle digital pets.
- Enjin Coin (ENJ): Enjin Coin is a cryptocurrency that can be used to create, manage, and trade in-game items.
- Gala Games (GALA): Gala Games is a blockchain gaming platform that allows players to own and trade in-game assets.
- Aavegotchi (GHST): Aavegotchi is a blockchain-based game that allows players to collect, breed, and battle digital ghosts.
- Theta Network (THETA): Theta Network is a decentralized video streaming platform that uses blockchain technology to improve the quality and efficiency of video streaming.
- Flow (FLOW): Flow is a blockchain designed specifically for gaming and entertainment.
- Crypto.com Coin (CRO): Crypto.com Coin is the native cryptocurrency of the Crypto.com platform, which offers a variety of cryptocurrency services, including trading, staking, and lending.
Additional metaverse coins that are not yet listed on Binance include:
- Sorare (MANA): Sorare is a fantasy football game that uses NFTs to represent players.
- The Nifty Gateway (NGW): Nifty Gateway is an NFT marketplace that offers a variety of NFTs, including digital art, music, and collectibles.
- Cryptovoxels (CVX): Cryptovoxels is a virtual world platform that uses voxels to create 3D environments.
- Alien Worlds (TLM): Alien Worlds is a blockchain-based game that allows players to mine Trilium (TLM), the game’s native token.
- WAX (WAXP): WAX is a blockchain platform that is specifically designed for gaming and collectibles.
- Decentral Games (DG): Decentral Games is a blockchain gaming platform that offers a variety of games, including Decentraland Poker and Decentraland Blackjack.
- Axie Infinity Shards (AXS): AXS is an ERC-20 token that is used to govern the Axie Infinity ecosystem.
- Yield Guild Games (YGG): YGG is a decentralized autonomous organization (DAO) that invests in and manages Axie Infinity assets.
Artificial intelligence coins listed on Binance exchange
- The Graph (GRT): The Graph is a decentralized data indexing protocol.
- Fetch.ai (FET): Fetch.ai is an AI-powered autonomous systems platform.
- Ocean Protocol (OCEAN): Ocean Protocol is a platform for data sharing and trading.
- iExec RLC (RLC): iExec RLC is a marketplace for cloud computing.
- SingularityNET (AGI): SingularityNET is a platform for sharing AI services and tools.
Coins listed on Binance
- Base Currencies: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), XRP (XRP), Cardano (ADA), Solana (SOL), Terra (LUNA), Avalanche (AVAX)
- Altcoins: Dogecoin (DOGE), Shiba Inu (SHIB), Polkadot (DOT), Chainlink (LINK), Uniswap (UNI), The Graph (GRT), Axie Infinity (AXS), The Sandbox (SAND), Decentraland (MANA)
- Metaverse Coins: The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), Gala (GALA), STEPN (GMT), Theta Network (THETA), Enjin Coin (ENJ), Alien Worlds (TLM), Yield Guild Games (YGG)
- NFT Coins: The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), Gala (GALA), STEPN (GMT), Theta Network (THETA), Enjin Coin (ENJ), Alien Worlds (TLM), Yield Guild Games (YGG)
- DeFi Coins: Uniswap (UNI), SushiSwap (SUSHI), Aave (AAVE), Compound (COMP), Yearn Finance (YFI), PancakeSwap (CAKE), PancakeBunny (BUNNY), THORChain (RUNE), Anchor Protocol (ANC)
- Stablecoins: Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), TerraUSD (UST), TrueUSD (TUSD), Paxos Standard (PAX), Binance USD (BUSD), Huobi Token (HT)
- Meme Coins: Dogecoin (DOGE), Shiba Inu (SHIB), Baby Doge Coin (BABYDOGE), Floki Inu (FLOKI), Dogelon Mars (ELON), Samoyedcoin (SAMO)
- Other: Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC), EOS (EOS), Tron (TRX), NEO (NEO), VeChain (VET), XRP (XRP), Cardano (ADA)
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