what is binance
Binance is the world’s most promising cryptocurrency exchange. Binance operates in more than 100 countries. In 2017, Binance was founded in Hong Kong. Binance’s platform supports over 600 crypto-to-crypto trading pairs. According to Binance’s name decoded by bitcoin and finance, its combination is Binance, and it claims to provide safety and security of the highest standard. Binance has no fees for cryptocurrency deposits or withdrawals.
How Binance work
The best and safest way to buy and sell cryptocurrency is on a crypto exchange. Binance is an international crypto exchange that works in a large number of countries around the world. Binance is an online crypto exchange where users ,traders can transfer or buy & sell their digital assets. It supports a large number of the most widely traded cryptocurrencies. The Binance exchange offers users the ability to earn interest or conduct transactions with cryptocurrencies. In addition, binance provides programs for miners and assists merchants in making investment decisions.
Total coin trade in Binance and total volume.
As of August 2022, Binance has 90 million clients globally and the biggest daily trading volume of any cryptocurrency exchange in the world, at $76 billion. There are 361 currencies and 1380 trade pairs available on the market as of July 17, 2023. According to reports, Binance’s 24-hour volume exceeds $5+ billion. The most active trading pair that has a 24-hour volume of $900+ Million is BTC/TUSD. Binance has exchange reserves at $64 billion.
Binance own coin BNB explained
The well-known cryptocurrency exchange Binance developed the BNB cryptocurrency, often known as Binance Coin. To be used as a utility token on the Binance platform, BNB was launched through an ICO, or initial coin offering, in July 2017. Initially using the ERC 20 protocol, Binance Coin operated on the Ethereum network.
However, Binance currency established a chain in 2019 under the name BNB chain, and BNB became the native currency of the BNB Chain.
BNB is valued at around $250 as of July 2023. With a market worth of almost $39 billion, it ranks as the fourth most valuable blockchain-based cryptocurrency.
Benefit of using Binance
- High Liqudity
- Secure and Trustworthy
- Trade Multiple Cryptocurrencies
- Staking
- Participate in IEOs
- User-Friendly Interface
- Low Trading Fees
- Mobile App
- 10. 24*7 Customer Service
