This article will review one of the most popularized cryptocurrency exchanges of late, Binance, and many will be astonished to find out that Binance is much more than just a cryptocurrency exchange. Beyond the exchange, Binance also offers three more platforms that provide various services. The very first one is a startup incubator, the next one is a toneelpodium for ICOs, and their latest addition is a coin information webstek.
So, te reality, Binance is a toneelpodium for cryptocurrency that offers significantly different services, similar to how CoinBase operates. Te this article, wij are going to voorkant all services suggested on the podium, their most significant features, and relevant information specific to each product.
At the time of writing Binance supports 117 cryptocurrencies across four trading pairs that are available for trading BTC, ETH, BNB, USDT. Not all of thesis pairs have the same trading opportunities available to them, but the diversity is broad enough for you to be able to execute and invest te a broad portfolio of cryptocurrencies.
Unluckily, there are no deposits available for fiat currency, but if you’ve already managed to purchase cryptocurrency, Binance is a pretty good spot to hold and wait for superb moments to execute a trade.
Basic and Advanced Exchange
The basic exchange chart gives you all of the relevant trading information that you need to execute your ideas. You get to select a trading pair, and you are introduced with:
- a standard candlestick graph
- the order window
- an overview overheen all of the buy and sell orders,
- the latest trading history of the network
- your open orders
- your 24-hour order history
You can make three different types of orders on Binance, i.e. Limit, Market, and Stop-Limit orders.
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The advanced version hosts a different look at the chart, suggesting a broader perspective. The only existente update from the basic version is the addition of the capability to use indicators. They are useful for doing technical analysis on a chart, a skill reserved for experienced traders and stock brokers. The surplus of the information is exactly the same spil the basic exchange view.
With one of the best referral programs, Binance managed to attract a entire loterijlot of attention. The scheme is plain.
Top performing accounts on the toneel have earned more than 100 BTC, with the number one account having overheen 50 BTC above the 2nd best, at 167 BTC. Considering the referral program embarked on October 27th, it is finta a sizeable amount to collect ter just a few months.
The exchange has their own app on both Android and iPhone, and both of them suggest the utter functionality of the verhoging. Lightly trade on the go with the Binance mobile apps.
The windows downloadable offers the same total range of chance that the web and mobile applications have available. The added benefit of having an icon directly on your desktop is a quality of life feature for many traders.
Binance is still considered a startup, and regardless of this fact, they are still successful enough to be able to entirely support other projects with their operational profits.
The Labs represents a startup incubator that offers:
- Ideas and Guidance
- Listing on the Binance exchange
- ICO on the LaunchPad
Ter terugwedstrijd, Binance has a high level of expectations from blockchain startups. Before applying you need to get your whitepaper ready, assess how much funds you need to lead your project to success, and commence a company to represent the project.
With thesis stringent expectations ter place, Binance is te the ideal position to help teams that have achieved them, and guide them through the wild crypto-startup waters.
Startups, ter universal, are pretty wild to lead, and having a playmate such spil Binance to support you is an amazing way to kickstart your success and get there relatively lighter.
The Binance LaunchPad
This is where Binance-powered ICO’s are conducted. There are two ways for your coin to conduct an ICO through Binance. The very first one is the Labs, because every project that goes through them completes up on the LaunchPad.
The 2nd one is to apply directly to Binance to do your ICO on the LaunchPad. This is a relatively lengthy process, which requires the signing of a Non-Disclosure Agreement, under the jurisdiction of the Cayman Islands.
Spil for the coetáneo costs for going through with an ICO on Binance, wij do not have the necessary information. Binance is very big on secrecy and limiting the information flow through the use of Non-Disclosure Agreements, which are required ter order to commence doing business (of any zuigeling) with Binance.
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The ICO’s are conducted te sessions for both ETH and BNB (the native Binance Token), and at the time of writing there have bot two projects with two sessions each. Visit the LaunchPad to see the voorstelling of past projects, and build up some clarity on how the LaunchPad looks and feels like.
Fresh Coin Information Webstek (BETA)
The latest addition to Binance product portfolio is the coin information webstek, that aggregates information about different coins on the Binance exchange. The main purpose of this webstek is to make all of the relevant coin content available to the public on one pagina. Similarly to CoinMarketCap, where users can find the block explorers, official websites, and whitepapers, but with one very interesting addition.
Te exchange for a BNB token payment, Binance informatie will enable publishers to RSS content directly to the coin pagina. For now, tho’, this fresh addition is downright free, spil a way to populate the webstek with content and generate publisher competition.
Other Significant Information
Trading on Binance
Trading on Binance is just like trading on any other cryptocurrency exchange, or a stock market. You get to make deposits, have a utter overview overheen your accounts and funds, and have the capability to generate wallets for all supported currencies.
Presently, only e-mail customer support is available, and you can get it te 8 different languages. They use ZenDesk, a popular customer support software that generates tickets and makes sure that every customer fight is heard. Wij’ve heard only good things about their team and the service they provide.
Beyond creating a strong password, there are extra methods that can be undertaken ter order to secure your accounts. I am talking about 2-factor authentication, which significantly reduces the chances of anybody hacking you successfully. You will need a smartphone and an authenticator app such spil Google Authenticator.
You can activate 2FA after creating your account and logging te for the very first time.
Competitions and Giveaways
Binance is big on rewarding their users, and so far they’ve given away 9 automobiles. The team is permanently thinking of fresh ways to generate traffic and promote trading activities, spil well spil feast various occasions.
Binance is rapidly becoming one of the fattest and most competitive exchanges on the market. Within 6 months, they have:
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- Listed 117 cryptocurrencies,
- Conducted Two ICOs,
- Developed 8 different products,
- Reached more than $1 billion USD ter daily volume
Safe to say that they are working truly hard to impress the public, and to woo everybody that they are a major competitor on the market.