UpSteemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin"
***INTRODUCTION
Binance can be seen as an exchange that hosts crypto-to-crypto trading activities. This implies that they do not receive physical money, like U.S Dollars or Euros. Biniance exchange was first introduced and initiated in 2017,with it's base at China. Nevertheless, with the harsh and strict cryptocurrency law's in China, the exchange was moved to Japan, who are lover's of digital currency.
Changpeng zao w the chief creator of this mind blowing innovation called Binance. However CZ was the back bone behind some of the trading systems that are used in the stock exchangemarket in Tokyo.Little wonder Biniance is such a success because of his enormous wealth of experience.
prior to the time Binance launched their exchange,the initial coin offering(ICO) was the method in which they used to raise money. This is so identical to crowdfunding,a situation where people have the ability to invest in other to help and assist a company, to into the mojo of trade or business.
The Binance ICO where able to get or raise the equivalent of about $15 million, and in return, they provided investors wuth their own token of crypto currency, which they termed the Binance Coin (BNB).However, even though it is termed Binance Coin,it is simply a token, that is established on the Ethereum blockchain.
ADVANTAGES OF BINIANCE
1LOW CHARGES
One of the unique feature of the Biniance exchange is that in trading crypto-to-crypto,the charges accrued to it are relatively low,in fact they are amongst the lowest in the industry. Customers or clients are charged 0.1% on every trade they make, this implies that if you you traded 1 ETH, you would be only charged a service fee of 0.001 ETH.
2ICO Launchpad
Another feature of Binance is that it is well known for enlisting new cryptocurrency immediately their ICO gets exhausted. The implications of this signifies that many crypto companies take Binance as their number one exchange.
3Prizes
Regular and faithful traders or clients on Binance exchange have the opportunity to get amazing prizes. These prizes varies most of the time, ranging from free cryptocurrencies, such as Ontology and waves. some mind blowing prices have been giving as a give away like a Maserati car.
4High level of Security
Binance takes security as their major priority, and that is why customers are asked to creat a two-factor authentication once they register an account.This two factor authentication makes it almost impossible for hackers to vote and so it is an extra level of security that alert you by sending a code to your phone whenever you need to to log in,withdraw funds and trade.
High Volume Trading
Binance in recent years has become one of the most renowned exchanges to trade buy and sell cryptocurrencies. This implies that users or clients stand a better chance of trading with their cryptocurrency immediately, whenever they need to.
*** USEs OF BINIANCE***
1IT CAN BE USRD FOR THE PURPOSE OF TRADING
TRADING with Biniance coin for other cryptocurrencies on various exchanges is very possible, and it is dependant on the restrictions placed by the exchange.
Transaction fees on the Binance Exchange
On the Biniance exchange the BNB can be used to pay for transactions,and users and costomers also get a discount for engaging it.
*Credit card payments."
BNB can be used as a measure of payment for bills of crypto credit card on Crypto.com.
Payment processing
Traders can use BNB as a portalof payment for users or customers, in other to make the payment method more flexible.
*Booking travel arrangements"
it can also be used to book flights and hotel reservations and on select websites.
MARKET EVALUATION OF BINIANCE
The Binance Coin price today is at about $520.94 USD with an all around the clock trading volume of $6,982,072,060 USD. Binance Coin witnessed a drop of 6.02% in the last 24 hours.Currently the CoinMarketCap is ranked 3 with a market cap of $79,928,670,689 USD. It owns and possess a circulating supply of 153,432,897 BNB coins and a max supply of 170,532,785 BNB coins.
The top exchanges that exists for trading in Binance Coin are,Binance,Coin Tiger, FTX, BitZ, and HBTC.
HOW TO OBTAIN A BINIANCE COIN
The BNB can be gotten or purchased on the Binance crypto exchange with a bank or wire transfer, a debit card or a credit card or perhaps any of the exchanges that provides the cryptocurrencies
Cc: @yohan2on
Cc:@steemcurator01
Cc:@steemcurator02
Thanks once more prof,@yohan2on, this is the repost.
Hi @samuelj
Thanks for your participation in the Steemit Crypto Academy
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Good work. Well done with your research on BNB
Homework task
7
Thanks so much prof @yohan2on
Hello prof@yohan2on i trust you are doing great please i want to bring to your notice my reposted work which has not yet been curated, thanks so much and God bless