Crypto bobby binance referral12/8/2023 Binance doesn’t just list any old cryptocurrency, though, it has to really prove itself as a solid cryptocurrency for the exchange to list it.īinance takes security very seriously, and customers are asked to set up two-factor authentication ( 2FA) when they register an account. This shows that many crypto companies view Binance as their favorite exchange. They have even a gave away a Maserati car! How cool is that!īinance is well known for listing new cryptocurrencies as soon as their ICO has finished. These prizes change all the time, and have so far included free cryptocurrencies, such as Waves ( WAVES) and Ontology ( ONT). Regular traders on Binance exchange have the chance to win prizes. This can be done by submitting identification, such as your passport. There are no limits to the value of deposits you make, but if you want to withdraw cryptocurrency, then you would need to verify your account. This is because the fee is fixed to the price of Litecoin, and not top the price of USD ( or your local currency). However, if the value of Litecoin increased, so would the withdrawal fee. The fee that you'll have to pay to a certain exchange for each trade that you perform on the platform.įor example, at the time of writing, for every Litecoin ( LTC) that you want to withdraw, it would cost you 0.01 LTC in fees. Even though it’s called Binance “ Coin”, it is actually a token, which is built on the Ethereum blockchain. The Binance ICO raised the equivalent of $15 million, and in return, they gave investors their own cryptocurrency token, which is named the Binance Coin ( BNB). However, an ICO is still different, as people invest cryptocurrency instead of real-world money. This is very similar to crowdfunding, where people can invest to help a company get started. I guess he used this experience to help make Binance what it is today!īefore Binance opened their exchange, they raised money through an initial coin offering ( ICO). Interestingly, CZ used to build some of the trading systems that are used in the Tokyo stock exchange. The man who created Binance is called Changpeng Zao, however, he is better known as CZ. However, as cryptocurrency laws are very strict in China, the exchange has since moved to Japan, a country that loves digital currency! The exchange was first created in 2017, and was originally located in China. This means that they do accept real-world money, such as U.S Dollars (USD) or Euros (EUR). How to Open an Account at Binance?īinance is an exchange that hosts crypto-to-fiat and crypto-to-crypto trades. Well, what are you waiting for? Let’s go and discover more about Binance! By the end of our Binance review, you will have all the information you need to start trading on the exchange by yourself. There will also be a step-by-step guide on how to deposit, trade and withdraw coins, along with some helpful images. We will then explain some of the advantages of using Binance, as well as some disadvantages, too. Once you have read this, you will have a good understanding of whether it is the right exchange for you.įirst, we will give you some background information on Binance, and how it has become one of the most popular exchanges to trade cryptocurrencies. This Binance review will give you a complete overview of the Binance exchange. So, it’s important to know which exchange is right for you! Some are aimed at beginners, while others are better for more advanced traders. This makes it more and more difficult to decide which exchange you’re going to use. As cryptocurrencies grow in popularity, more and more exchanges are being created for buying, trading and selling different cryptocurrencies.
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