The #Binance platform is rich in definition. It is the number one centralized platform in the world of cryptocurrencies.
Binance is a company founded by the famous Chinese cryptocurrency billionaire zhenagping Zhao CZ in 2017. The platform received an initial funding of USD 15 million when the BNB coins were put up for initial sale and the platform did not receive any further funding after this initial funding. Binance has quickly managed to rise to the top of the cryptocurrency market, becoming the world's No. 1 platform for trading various currencies and undisputed.
Currently, the company has many branches around the world and is licensed in the United States. But there is no main branch of the company yet. Although the company has recently established its own branch in the UAE, it is considered the main branch of the Middle East operations only. According to CZ, the founder of the company, Binance is a decentralized company operating in the digital currency market. Decentralization is the first sign that characterizes the cryptocurrency market and therefore CZ wants to adhere to it and give the company a decentralized spirit in line with the crypto market.
What is the size of the platform Is Binance a great platform?
The Binance platform is the largest cryptocurrency trading platform in the world. It is ahead of other platforms by huge strides. On CoinGecko CoinGecko you can notice the huge difference between the Binance platform and the next one. In the midst of the current bear market and after the many crises that the market has gone through, the daily trading volume of the platform is still estimated at 11 billion dollars. And this figure is about 10 billion dollars more than the next one! Also, the peak trading volume in the bull market for 2021 has reached 76 billion dollars in one day.
This is in addition to the fact that BNB, the main currency of the blockchain Binance and the official currency on the Binance platform, currently has a market value of 48 billion dollars. All these figures put the Binance platform in the undisputed and unrivaled lead. Even before the fall of the FTX platform, Binance was much larger than it, although it was the rival platform of Binance.
Why everyone trusts Binance platform?
There are many reasons why the Binance platform has won the trust of everyone, but on top of these reasons comes CZ, the founder of the platform. Many cryptocurrency enthusiasts consider CZ to be the godfather of this field. FCZ has been present in the world of cryptocurrencies since approximately 2015 when he bought bitcoin bitcoins. The platform has also experienced a lot of difficulties and passed through it peacefully. CZ is always present on Twitter through his tweets and interactions with cryptocurrency users on Twitter. This shows the extent to which CZ is always in touch with reality, aware of customer problems and constantly striving to solve those problems. This is the most important reason why people trust the Binance platform.
Binance platform is the number one utility platform
The main reason why many turn to cryptocurrency platforms and to the world of cryptocurrencies is utility. These people are looking for the cheapest and fastest secure way to move their money across continents easily and conveniently. In addition to this, the platform offers a package of various services.
Support different trading options
Whether you want instant Spot trading or futures and derivatives trading, the Binance platform supports you. The platform is also characterized by low trading costs
Different blockchain networks
You can transfer your digital currencies to the platform via various networks. The platform supports the Lightning Network Bitcoin Lightning Network and of course supports the Ethereum Ethereum network ERC-20. This is in addition to platform-specific networks such as BEP-20 and BEP-2. The platform also supports the Avalanche, Solana and cardano network. Finally, it supports some second-layer solutions such as Polygon and Optimism.
This means that the Binance platform for the user is like a networking forum on which currencies can be easily converted and then choose the network through which currencies are sent to others or to encrypted wallets. And the availability of the platform for this number of networks made it a convenient solution for many companies in Web3 to pay employee salaries! A lot of crypto companies pay employees with digital currencies or stablecoins and the Binance platform is very suitable for this. Also, internal transfers on the platform are free, without any fees and instant!
Making the platform available for different currencies
One of the most important services offered by the platform is the possibility of the platform accepting regular cash currencies such as USD, GBP, EURO and AED. Many people suffer when they want to convert their digital currencies into cash, especially those who receive their salary as digital currencies. But on the Binance platform, some of the BTC, ETH, BNB, USDT or BUSD can be easily converted into euros or AED with the utmost ease. And this is due to the flexibility and massiveness of the platform.
The platform also supports a lot of money withdrawal options, for each currency there are a lot of different options through which you can withdraw money. The opposite is also true, you can easily deposit money on the platform.
Binance educational academy
Binance educational academy is also constantly expanding. The platform has the largest educational academy in the world of cryptocurrencies. And on them you can learn about various terms of the cryptocurrency market. This academy is available in many languages, including Arabic, and new articles and translations in Arabic are always being added! Currently, you can earn some digital currencies on Binance through learn and earn. This is an initiative of Binance in order to increase the educational level of web 3 users so that they do not object to fraud and fraud.
Investing via the Binance platform
The platform also offers a lot of options for investing through it, whether by Staking Staking or through yield farming yield farming or DeFi decentralized finance and others.
Investing through Flexible savings
Currencies stored on the platform can be placed in flexible savings for an annual return of up to 5% or 6%. This yield in the bull market sometimes reaches 10% on stablecoins stablecoins combined with the dollar rate!
The current position of the Binance platform
Currently, the Binance platform is firmly leading the world of digital currencies. She is indisputably the first winner of investor confidence in this market. Currently, the platform is expanding through partnerships with various projects in the world of cryptocurrencies. The platform has also doubled the size of its staff since last year to the present time. In addition, the platform has announced the reserve for the platform. CZ decided to do this after the FTX crisis occurred in November 2022. As a result, Binance was the first of the central platforms to announce its reserve. The advertiser was enough to gain customers ' trust in the platform, unlike some other platforms.
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