What is Binance and how does it work?
Binance (https://binance.com) is a platform specialized in the purchase, sale and negotiation of a long list of cryptocurrencies selected by capitalization value in the markets. To answer the question well, what is Binance? It is important to know that at present this portal is the leader in terms of volume of operations carried out with cryptocurrencies on the network and has more than 60 million users.
The platform has its birth in 2017 in China. Already in its early stages, it begins to emerge thanks in the first place to the strong upward trend of the most representative values among cryptocurrencies such as Bitcoin. Also, its growth is due to the enormous design work of the portal with the curiosity of having multiple options to invest, buy or get cryptocurrencies and still have a simple and intuitive navigation.
The way it works on the web depends on each of the sections that we can find at the top. Navigating through it we can see and access the options to buy crypto, markets, trading and other functionalities.
- Link to test the platform
Which is the role of Binance?
The main function of Binance is the online brokerage of cryptocurrencies. In the portal we can buy, sell and other features of cryptocurrency trading in which we seek a short, medium or long-term profitability. In this context, the platform offers different modalities to negotiate with cryptocurrencies, the main one being the purchase / sale of these assets in the different terms granted by each investor.
In addition, the website maintains different sections with various modalities of investment in futures, intraday and others. With them, its users can operate from different models with a variety of capital exposures. Although a large percentage of investors prefer to execute operations with a simple profile in the short, medium and long term with direct purchases and sales of the main cryptocurrencies such as Bitcoin (BTC), Ethereum, Litecoin (LTC) or Dogecoin (DOGE).
Other functions of the exchange are to publicize new digital currencies, being able to capture small portions of them in its mining section. The portal also makes a special interest in making known all the characteristics and news of the blockchain sector. In the end, what the platform intends is to offer an ecosystem related to cryptocurrencies so that its users find in it all the information, contacts and data necessary for their correct preparation before and during the investments to be made.
How is Binance used?
The way to use Binance is highly simple, intuitive and efficient. Each section works in a simple and personalized way. First of all we have the section reserved for the purchase of cryptocurrencies. In this section we have only the main cryptocurrencies on the market and they are selected basically by their volume of capitalization in the markets. When we make any purchase in this section, it goes directly to our security wallets. These wallets are enabled automatically when we register on the web and we have different wallets for each of the coins purchased.
As a second option we have the section on trading with cryptocurrencies or virtual currency pairs. This is the most complex section and the one that most people congregate. In it we have different formats to trade in the short, medium or long term with a long list of options provided.
In addition to these functionalities we have others, all of them related to cryptocurrencies, such as mining and the launch of new virtual currencies with gifts of small fractions for your knowledge and publicity.
What is a Binance account?
A Binance account is the trading tab of each client on the platform. In it are reflected all our personal data that confirm the veracity of the accounts. With them we can access the exchange to perform any of the functionalities offered associated with trading with cryptocurrencies.
These accounts already total more than 130 million spread throughout the world. From them we can enable our spot, mining or futures accounts. In addition, from our profiles we can also access our fiat and spot portfolios that are updated at all times to know the capital we have easily and quickly.
It is important to note for everyone’s peace of mind that these accounts are called highly secure. This is due to the systems provided by the portal that ensure the veracity of each of the users through different security filters. In addition, once registered we can only access from the same assigned computer and Wi-Fi network. Every time we change the equipment or internet network we have to reconfirm access through a security link from the personal email provided.
What digital currencies do you offer on Binance?
In the Binance portal we can find the most relevant digital currencies in the blockchain sector. Among the most used by platform clients we have the most relevant by market capitalization such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC) or Dogecoin (DOGE).
But in the exchange we have many more cryptocurrencies to complete a list of more than 300 references. Obviously, this list incorporates new releases so it is always in constant motion.
Some of the currencies with the highest growth percentage in recent months are the Polkadot (DOT), Uniswap (UNI), Internet Computer (ICP), Polygon (MATIC) or VeChain (VET) among others. These booming stocks are closely watched by many of the portal’s investors looking for opportunities to achieve the highest returns in the shortest time possible.
What is the Binance Coin?
The term Binance Coin refers to the cryptocurrency that this platform launched on the market. Technically it is operated with its acronym BNB and today it is one of the great references in the cryptocurrency market. To get an idea of its potential we only have to see its historical graph. In it we can see that in just 4 years it has multiplied its value by 400, in the beginning it was around $ 1 and currently exceeds $ 400. These indicate several important things, but one of them is its enormous weight and potential for future growth.
This exponential growth is favored by several factors. The first of them is the exponential growth of the entire blockchain market with Bitcoin as the first reference. The second of them is specifically related to the enormous strength of the Binance platform with so many millions of users spread throughout the world.
Something really relevant is knowing that when we operate on the platform with BNB we have advantages such as the reduction in the commissions set per operation or the absence of them. Obviously, the platform always supports its own token.
How safe is Binance?
Binance’s security is one of its strongest points. Due to the extreme level of security applied to registration, identity verification and data transcription, it is a global example of security systems and technologies applied to a cutting-edge platform. In addition, navigation always passes through urls with https that we can check in the top bar of the browser. In it we will always see the padlock symbol reflected that tells us that we navigate, both on PC and mobile devices, under pages encrypted with SSL security.
Thanks to this extreme level of security, its users can buy, trade or store cryptocurrencies on Binance with complete confidence. This is one of the points that explains the enormous growth experienced by the web in terms of the volume of operations registered, which also does not stop growing.
Both from our experience on the web and from reading hundreds of opinions from users and experts in cryptocurrencies published in dozens of references and specialized forums, we can affirm that the level of security offered by the portal is excellent.
What is the Binance Card?
The Binance Card is the new bank card that the platform has launched on the market. It is under the security of VISA and has several factors that make it really attractive. As a first piece of information of interest to future users, we must comment on the convenience of paying with this card in any local currency, instantly converting our cryptocurrencies into the payment of any product or service.
It is available to some of its users and has reimbursements of up to 8% of the expenses paid with this card. Which makes it a perfect candidate for paying for monthly services. The card is also launched with 0% for its users.
These advantages are being pleasantly valued by the registrants of the portal and it has the foresight to position itself as one of the VISA bank cards revelation of the market. This is thanks to the power of conversion of Bitcoin or any other cryptocurrency in local currencies, something simply revolutionary.
What does Binance charge a commission?
The commissions Binance charges for trading or buying cryptocurrencies are among the lowest in the market. Thanks to this platform, the rest of the operators that offer this service have been forced to reduce these commissions in order to compete. With this, all the small, medium and large investors around the world have won.
These commissions applied by Binance for the purchase and negotiation of cryptocurrencies are staggered in different levels of commission. Within these levels we find the lowest located at 0.0450% and the highest at 0.0750%, both below the general average of the online investment market in cryptocurrencies. The difference in applying some commission levels or another lies in the volume of business invested, the higher the investment, the less commissions.
These commissions are reduced or eliminated when we carry out trading operations or direct purchase of cryptocurrencies with BNB.
What steps do I have to follow to register on Binance?
To register with Binance (https://binance.com) we have to fill in the table provided with our personal data, username and security password. When we complete this previous step, we can only verify our identity. For this we have to upload two images of our identity or residence document.
Records on this platform are considered highly secure. This point is crucial to be able to buy or trade cryptocurrencies with complete peace of mind.
The entire registration process can be completed in just two minutes.
Social networks with related information
Social networks are a perfect place on the internet to find related information to know what Binance is more accurately. Below we offer some links where you can find videos, information and opinions of other users about the platforms.
- Twitter # binance what is
- Youtube # binance what is
- Pinterest # binance what is
- Reddit # binance what is