If you follow this link and upgrade your Binance account during the promotional period, you will be eligible to receive rebates for any completed transactions. Users who are eligible for rebate should ensure that their KYC is updated before the last date of 2022-12-31 (UTC). The number of rebates available is limited, and will be awarded on a first-come, first-served basis.
Receive a cashback offer of up to 10% for life on any and all transactions involving a minimum of 10,000 USDT and a trade admin fee fee (terms and conditions apply).
Full functionality of the Binance cryptocurrency exchange, right in your pocket. Get Binance, the cryptocurrency exchange app, on your mobile device today.
What is Binance Exchange?
Binance Exchange, launched in Hong Kong in 2017, is a leading cryptocurrency trading platform. Trading alternative cryptocurrencies is highlighted. Binance is a cryptocurrency exchange that allows users to buy, sell, and exchange over 600 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and Binance Coin (BNB). .
Binance is the digital currency exchange that has the lowest transaction fees overall. Exchanges usually trade one cryptocurrency for another, which is called “crypto-to-crypto trading.” It’s very liquid, and if you pay with genuine BNB cryptocurrency tokens, you’ll get a discount.
Binance can process about 1.4 million orders per second thanks to its multi-tiered, multi-clustered architecture and its ability to handle many orders at once. More than 600 different coins, including Bitcoin, Ethereum, Litecoin, and the BNB token itself, can be traded on the platform.
Trade on Binance
Trading, listing, fundraising, and de-listing or withdrawal are all services provided by Binance, just like any other crypto exchange. Binance is a great place for cryptocurrency enthusiasts who are ready to launch tokens and use initial coin offerings (ICOs) to raise capital. Many people use Binance as a hub to buy, sell, and invest in digital currencies.
Users must complete the necessary “know your customer” (KYC) requirements before trading can begin. Once a user successfully creates a trading account, they can fund it by sending cryptocurrency to a public wallet address provided by Binance.
There are three main types of orders you can use when trading on the Binance exchange: limit, market, and stop-limit. Any order placed at a limit price will only be filled at that price. When you place a market order, it will be filled instantly at the current best market price. A stop-limit order is entered with the idea that it will be applied when the market price reaches a certain level.
When it comes to crypto futures contracts, Binance provides four additional order types. Below is an example of a trade order:
– Impeding Market Order
-Order for trailing stop
-Orders will only be accepted by mail
– TP/SL Restriction Order
Deposit in cryptocurrency and fiat currency for free. The amount and type of cryptocurrency withdrawn affects the transaction fee.
Another service from Binance
In addition to exchange-specific services, Binance also offers other tools, platforms, and services. Here are some examples:
Binance Earn is a place where you can stake or earn interest on the stablecoins you deposit on the exchange. The exchange offers investors various options and interest rates for the coin based on the coin and the length of time.
The Binance Visa Card is a credit card that allows users to convert digital currency into fiat currency and use products and services. There are no administrative fees for the conversion, but there are third-party fees in the form of payment network fees.
Binance Smart Pool allows miners to switch between different cryptocurrencies for mining in order to optimize and increase their income.
Binance has a blockchain technology incubator called Binance Labs, which focuses on developing promising pre-ICO stage projects. It helps deserving cryptocurrency project teams by giving them the money they need for development, access to advice, and a place to start if they need to list or raise money.
Binance also offers a site called LaunchPad for hosting new and emerging blockchain projects and API interfaces. As of July 2022, 64 projects have been launched.
It launched its own cryptocurrency, Binance Coin (BNB), through an ICO in July 2017. BNB has a market cap of around $38.8 billion by July 2022.
Binance Coin (BNB)
Binance Coin (BNB) is the platform’s internal token. It facilitates cryptocurrency trading on the Binance exchange. In July 2017, the coin was introduced through an initial coin offering (ICO). Binance distributed 20 million BNB tokens to angel investors, 80 million tokens to the founding team, and the remaining 100 million tokens to ICO participants.
About one-third of the funds raised during the ICO are allocated to the development of the Binance platform and the implementation of the necessary ecosystem upgrades.
The initial implementation of Binance Coin used the Ethereum blockchain and the ERC 20 standard. However, in 2019, Binance Coin became the original currency of BNB Chain. In July 2022, one BNB is worth about $237. It is the fifth most valuable blockchain-based token by market capitalization, with an estimated value of $3.9 billion.