Binance is an online exchange where users can trade cryptocurrencies. It supports most commonly traded cryptocurrencies. Binance provides a crypto wallet for traders to store their electronic funds. The exchange also has supporting services for users to earn interest or transact using cryptocurrencies.
Binance is a digital asset exchange (DEX) that was launched in 2017.
Binance is a cryptocurrency exchange. It was launched in 2017 and is based out of Shanghai, China. The Binance exchange offers a wide variety of cryptocurrencies that you can trade against Bitcoin (BTC), Ethereum (ETH), Tron (TRX) or Tether (USDT).
Binance has rapidly grown over the past few years as it offers reliable customer service, low fees and an easy-to-use interface for people to buy and sell cryptocurrencies. As you can see from their website, they have millions of users all over the world who are trading on their platform every day.
The name Binance comes from “Binary” and “Finance.”
Binance is a digital asset exchange (DEX) that was launched in 2017. It enables you to trade Bitcoin, Ethereum, and other cryptocurrencies with low fees.
The name Binance comes from “Binary” and “Finance.” As the company explains on its website:
We had a simple idea: make it easy for people all over the world to invest in crypto. So we created Binance Chain, a public blockchain that allows us to issue tokens and build decentralized applications (dapps). And we launched our own DEX — Binance DEX — where you can trade your favorite cryptocurrencies without paying any fees!
Binance is the largest cryptocurrency exchange in the world by trading volume, with over 15 million users across 190 countries worldwide.
Binance is the largest cryptocurrency exchange in the world by trading volume, with over 15 million users across 190 countries worldwide. The user-friendly interface and its ease of use have helped it gain popularity among beginners.
Binance has a large selection of coins, making it one of the best exchanges for trading crypto coins if you’re looking to diversify your portfolio. Binance is also a safe exchange that only keeps 90% of your funds on an offline wallet at any given time, which means that you don’t have to worry about getting hacked or losing your funds because they won’t be stored on an online server!
According to CoinMarketCap data, the aggregated 24-hour trading volume on all cryptocurrency exchanges as of July 12 was $46.2 billion.
According to CoinMarketCap data, the aggregated 24-hour trading volume on all cryptocurrency exchanges as of July 12 was $46.2 billion. Binance’s share of that total volume was 26.4%, or $12.2 billion—more than 2x larger than their closest competitor, OKEx (5%), and 3x larger than Huobi Pro (8%).
The top five pairs in terms of daily trading volume are Bitcoin/USDT ($9 billion), Tether/USD ($1 billion), Ethereum/USDT ($752 million), EOS/USDT ($611 million) and Litecoin/USDT ($444 million).
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Binance’s share of that total volume was 26.4%, or $12.2 billion.
Binance’s share of that total volume was 26.4%, or $12.2 billion.
Binance has a market share of 26.4% and is the world’s biggest crypto exchange by trading volume, followed by OKEx, Huobi, and Upbit (in that order).
Binance’s closest competitor in terms of daily trading volume is Bithumb with $890 million in trades over 24 hours.
By comparison, Coinbase, the U.S.-based exchange with a reputation for trust, had a 24-hour trading volume of $3 billion on July 11, less than 25% of Binance’s daily total.
By comparison, Coinbase, the U.S.-based exchange with a reputation for trust and security (and which has been used by over 20 million customers to buy cryptocurrencies), had a 24-hour trading volume of $3 billion on July 11 — less than 25% of Binance’s daily total.
With millions of new investors in the crypto space every month, it’s no surprise that demand is high and Binance has grown so rapidly. The company says it plans to add another 250 employees this year as well as expand into other Asian markets such as Japan and South Korea by licensing its technology in those countries.
Binance is a crypto trading company that lets you buy and sell Bitcoin and many other cryptocurrencies using your credit card or bank account to fund your trades
Binance is a crypto trading company that lets you buy and sell Bitcoin and many other cryptocurrencies using your credit card or bank account to fund your trades. With Binance, you will always be able to set up an account in minutes and start trading right away.
Binance has the highest liquidity of all exchanges, meaning it has the most users who want to buy or sell specific coins at any given time. This means that you’ll be able to get more out of selling on Binance than if you were selling on another exchange where there are fewer people looking for that coin right now!
Plus, they have some of the lowest fees in the industry when compared with other exchanges such as Coinbase which charges 3% per transaction fee on purchases made from USD funds (USD wire transfers).
Some Question About Binance
1. Is Binance legal?
Binance.US is legal, but it is not available in all U.S. states.
2. What is Binance used for?
Binance is an online exchange where users can trade cryptocurrencies. It supports most commonly traded cryptocurrencies. Binance provides a crypto wallet for traders to store their electronic funds. The exchange also has supporting services for users to earn interest or transact using cryptocurrencies.
3. Can Binance be trusted?
Binance is considered a safe exchange that allows user account protection via the use of Two Factor Authentication (2FA).
4. How do you make money from a Binance?
- Publish buy and sell ads. Binance P2P’s ad posting feature is designed to meet the different goals and needs of the crypto community.
- Take advantage of crypto arbitrage.
- Arbitrage with fiat.
5. What is better than Binance?
KuCoin. KuCoin is a Singapore-based exchange and a good alternative to Binance. It offers an extremely similar selection of cryptocurrencies and is available in most countries.