There are very many advantages associated with cryptocurrency trading. For instance, it removes the need to have intermediaries such as the banks and other financial institutions when carrying out transactions. Hence, there are no transaction fees. There are very many things that you should know about crypto trading bot Binance before taking part in it. For example, you need to know that there are various types of cryptocurrencies. For instance, there is balance. In the simplest terms, Binance is a digital asset exchange service. In other words, it is an online platform that allows people to buy cryptocurrencies.
There are several good things about Binance exchange. For instance, it provides trading in more than 45 virtual coins. This is one of the reasons why very many people out there opt for Binance exchange. If you are looking for a platform to trade cryptocurrencies, you should consider Binance. The following are some advantages associated with trading using Binance. One of the reasons why you should Binance is how quickly the support forked coins. Many exchanges and web wallets do not pay out your fork coins as quickly as trading bots on Binance do.
The other reason for choosing to trade on Binance is about the fees. Their fees are greatly reduced. This often happens when you opt to pay using their own BNB token. This is one of the key benefits associated with trading on Binance. Also, there is the issue of access to new coins. AAs stated above; as an exchange platform, it allows people to trade more than 45 different virtual coins. Some of these coins are not available on the other exchanges and web wallets. The other thing is that it provides one of the most trustworthy and safe exchanges.
Finally, there is the issue of referral commissions. This is attributes to affiliate marketing. People are generating interests from affiliate marketing. These are some of the good things about Binance trade.
Binance is the number one cryptocurrency exchange, operating in many places throughout the world. Specializing in crypto-to-crypto transactions, we provide access to hundreds of digital currency pairs. As a leading exchange platform, we prioritize security, liquidity, and speed, while maintaining some of the lowest fees in the industry at 0.1% per trade (or 0.05% by using our BNB coin). We strive to give our users the best experience possible, also providing access to some of the latest blockchain/DLT technologies available, with new cryptocurrencies being listed frequently.
Binance stands for “Binary Finance”, integrating digital technology with finance. Just as the name suggests, we are digital currency enthusiasts, with more than 20 years of combined finance, security, and development experience at top exchange platforms and companies including the Tokyo Stock Exchange, Morgan Stanley, Accenture, and other Top 100 companies from all over the world.
The Binance is an exchange founded in 2017 with a strong focus on altcoin trading. Binance has quickly grown to become of the most popular cryptocurrency exchanges, offering trading in more than 500 cryptocurrencies and virtual tokens (but only about one-tenth of that amount of names for U.S.-based customers) including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB).
- Binance is an online exchange where users can trade cryptocurrencies. They support many of the most commonly traded cryptocurrencies.
- Binance provides a crypto wallet for its traders, where they can store their electronic funds.
- The exchange also has supporting programs that help traders make investment decisions.
- Binance has its own blockchain-based token, Binance Coin (BNB).
What is Binance.us ?
Primarily known for crypto-to-crypto trading – that is, trading between two cryptocurrency pairs and not national currencies like dollars or yen – The Binance exchange has gained immense popularity because of its low transaction fees, high liquidity, and additional discounts if users pay in the native BNB cryptocurrency tokens. Its exchange services were launched in 2017.
The name “Binance” is based on a combination of the words ‘bitcoin’ and ‘finance’. It claims high standards of safety and security with multi-tier and multi-clustered architecture and delivers high processing throughput with the capacity to process around 1.4 million orders per second. It supports trading in more than 150 coins, including popular ones like Bitcoin, Ethereum, Litecoin, and its own native BNB tokens, and the list continues to grow.
Binance is limited for U.S. customers, with fewer names available to trade. Furthermore, 22 U.S. states, including New York, are not yet supported by Binance US as of 2021.
How Trading on Binance!
Like other crypto exchanges, Binance offers services around the trading, listing, fundraising, and de-listing or withdrawal of cryptocurrencies. Cryptocurrency enthusiasts willing to launch their own tokens can use Binance for raising funds through initial coin offerings (ICOs). Binance is used by a large number of traders and participants for exchanging and investing in various cryptocurrencies.
To start trading, users have to complete the necessary KYC requirements. Upon successful trading account creation, users can add cryptocurrency funds to their public wallet address provided by Binance to start trading.
Binance supports three types of trade orders: limit, market, and stop-limit orders. Limit orders are executed only at the limit price set by the trader, market orders are executed immediately at the best available market price, while stop-limit orders become valid orders only when the price reaches a specified level.
Binance offers an additional five types of orders for crypto derivatives, specifically on futures contracts. These trade orders include:
- Limit order
- Market order
- Stop limit order
- Stop market order
- Trailing stop order
- Post only order
- Limit TP/SL order
There is no fee charged for cryptocurrency/fund deposits, though withdrawals do come with a transaction fee that varies depending upon the cryptocurrency and amount.
Advantages of Binance: Additional Services
In addition to exchange-specific services, Binance also offers other tools, platforms, and services for supporting the overall blockchain ecosystem.
Binance has a blockchain technology incubator called Binance Labs, which focuses on nurturing promising pre-ICO stage projects. It helps deserving cryptocurrency project teams by providing necessary funding for development, advisory resources, and a launchpad for any necessary listing and fundraising exercises.
Binance also offers a site called LaunchPad for hosting new and emerging blockchain projects and API interfaces. As of March 2021, 42 projects have been launched.
It launched its own Binance Coin (BNB) cryptocurrency through an ICO in July 2017. BNB has gained popularity and actively trades with a market cap of around $36.4 billion as of March 2021. It is set to become the native currency of the decentralized Binance exchange.
Binance Coin (BNB)
Binance Coin (BNB) is the platform’s internal token that is used to facilitate crypto trading on the Binance exchange. The coin was launched during an initial coin offering (ICO) in July 2017. Binance offered 10%, or 20 million, BNB tokens to angel investors, 40%, or 80 million, tokens to the founding team, and the remaining 50%, or 100 million, to the various participants through the ICO process. Almost half the funds raised during the ICO process were intended to be used for Binance branding and marketing, while around one-third were used to build the Binance platform and perform necessary upgrades to the Binance ecosystem.
Binance Coin runs on the Ethereum blockchain with ERC 20 standard and has a cap of 200 million BNB tokens. As of Q1 2021, one BNB is worth around $650 and is the third most valuable blockchain-based token by market cap, at roughly $3.6 billion.1
At Binance, the security of our users is our number one priority. As such, we strive to provide the most secure platform possible. We will evaluate reported security issues based on the security impact to our users and the Binance ecosystem.
This bounty brief describes the rules of the Binance bug bounty program, as well as the eligibility of vulnerabilities and the rewards.
This program adheres to the Bugcrowd Vulnerability Rating Taxonomy for the prioritization/rating of findings.
Rewards will be paid out in BNB (Binance Coin). Once your submission is accepted the Binance team will ask for your email address associated with your wallet to send your payment. To receive the payment, we suggest researchers create a separate private Binance account. Prices will change with the cryptocurrency markets and the dollar amount listed below could change.
Please note that only vulnerabilities with a working proof of concept that shows how it can be exploited will be considered eligible for monetary rewards.
- Binance is eager to work with the community to make sure that every researcher’s finding is rewarded fairly – based on the vulnerability’s impact on business and overall severity. To this end, it is possible that extraordinarily severe issues or those with extreme impact may be rewarded up to $100,000.
Binance may award an additional reward bonus for exceptional reports. This will be done at Binance’s discretion.
With a capacity to handle 1.4 million orders per second, Binance is a world-leading crypto exchange and one of the fastest-growing exchanges in the world. The team behind Binance is an efficient, pragmatic, top-notch team in the industry, committed to seeking deep technical and high-quality projects for in-depth cooperation. They have established an industry-wide trend that focuses on safety, stability, speed, and high liquidity, making it the most popular crypto-asset exchange for retail investors and professional traders.
BNB is a token of the Binance exchange, as a core part of the ecological layout of Binance. The cooperation with Skycoin adds new applications for the BNB ecosystem.