What is Binance?
Binance is a global cryptocurrency trading platform. The exchange has maintained its ranking as one of the top crypto exchanges in the world in terms of trading volume. Over the years, Binance has morphed into a comprehensive trading solutions provider.
The big suite of services offered by Binance is one of the main reasons that the platform has managed to become one of the top international cryptocurrency trading platforms. To that effect, Binance has been competing neck-to-neck with Coinbase, Kraken, and other pioneering firms.
What is Binance.US?
Binance.com is a trading platform that is not accessible for cryptocurrency investors hailing from United States. Therefore, Binance launched Binance.US as a branch of the firm that was regulatory compliant within the region.
Binance.US was introduced in 2019 as a way to offer cryptocurrency trading services for traders in USA. It is important to note that administrators listed a limited amount of services on Binance.US in comparison to its main platform.
On this account, there a limited number of cryptocurrencies listed on Binance.US that include the most popular coins such as Bitcoin, Ethereum, Bitcoin Cash, and EOS among others. However, Binance.US is accessible to a limited number of US citizens hailing from states such as Hawaii, New York, Vermont, and Texas.
There are more than 130 different cryptocurrencies listed on the platform. At the same time, the firm offers 19 different types of staking options such as ETH, ADA, SOL, MATIC, and GRT. The average yield return of the platform is calculated around 12.5% APY.
What is a BNB Token?
Binance has also introduced a native cryptocurrency called BNB or Binance coin. This token is used to add utility to the exchange platform. Some of the most important use cases associated with BNB coin is mentioned as under:
- To settle trading fees on Binance trading platforms.
- Used in staking to secure the BSC blockchain and generate yield income for investors.
- For participating in crowdfunding events at Binance Launchpad.
- As a mode of payment at decentralized exchanges on Binance.
- To facilitate various financial services to investors such as borrowing, savings, and lending etc.
What is Binance Smart Chain (BSC)?
Binance Smart Chain (BSC) is a blockchain that uses the Byzantine Fault-Tolerance to ensure security. The platform has incorporated proof-of-stake for verification such that BNB investors can stake or unlock their tokens in order to earn yield income.
BSC also enables the ability to publish cost-effective decentralized applications. As a result, the trading platform has amassed a massive following since its launch in September 2020. At the same time, BSC hosts some of the top decentralized applications such as PancakeSwap.
What is Binance Launchpad?
Binance Launchpad is a dedicated crowdfunding forum that supports blockchain and DeFi startups. It is a type of ICO forum at Binance. BNB token investors can participate on the platform using their reserves.
At one end, investors are able to get notified about the most opportune projects and other side, new issuers are able to introduce their DeFi programs at a verified and renowned platform.
One of the most important aspects of this Launchpad is that every project has to qualify a detailed screening process. Additionally, Binance administrators also use different metrics to ensure viability and growth potential of the project before listing it.
The standardization process ensures that investors have little to no chances of dealing with scam projects or rug pulls. Some of the most popular cryptocurrency projects to debut on Binance Launchpad include names like Axie Infinity, Matic, and Elrond.
What is Binance Trading App?
One of the main reasons that Binance has gathered such a massive following around the world is its mobile application. Binance users can download the mobile app from Android and Apple stores. In this manner, the investors have easy, quick, and instant access to Binance trading services.
Binance has ensured account verification methods at the platform such as KYC and confirming the user through national-issued ID. The application provide investors with access to trading statistics in real time and options such as trading bots, market insights, and DEXs, etc.
Conclusion
Binance has remained one of the biggest cryptocurrency trading platforms in the world in terms of market cap. Over the years, the platform has become a trusted name among cryptocurrency investors hailing from around the globe.
