Binance Crypto

At present Binance coins are the largest and most extensive cryptocurrency exchange of the globe and it comprises of more than $6 billion within an average span of 24 hours. It has risen to the top quite swiftly and smoothly since it has been in existence for less than a year but has grown at a very fast pace. Millions of users all across the world sign up for using it every week. Binance is also a cryptocoin that is traded as well as used on the Binance exchange. The value of the cryptocoin BNB has grown with considerable rise in exchange. But what drives billions of users across the globe to this cryptocurrency? The answer lies in the simplicity of its business model that has been the key to its success so far.

Understanding the advantages offered by Binance coins BNB

Binance coins stands for the digital currency of the Binance stage. It means that nothing but the digital form of money can be exchanged against and one cannot exchange the cryptocurrency against Fiat. This platform has eventually achieved an enormous success within an unbelievably short span of time and it has a focus on the global market though it has its headquarters in China. This cryptocurrency has a whopping market capital lying between 180 and 218 million US dollars out of which, around 18 to 35 million USD are traded at a daily basis.

Binance makes use of the ERC 20 token from Ethereum. It offers a huge discount when the fees are paid in BNB in place of BTC. During the first year of usage, there is 50 percent discount on almost all the fees while there will be 25 percent discount in the second year and it will go on like this, until you reach the fifth year when there will be no discount. This particular structure is quite attractive and can be used as an incentive for the users who are willing to buy BNB and indulge in trading within the Binance exchange.

It is very important to have an in-depth understanding of the basic mechanisms of Binance cryptocurrency. One of the key advantages of Binance is that it can solve technical issues with utmost dexterity. Let’s discuss the two other points of advantages which are matching and liquidity.

Reliable matching

Typically, an exchange functions as a market maker for buying and selling orders. It is critical to understand that the exchange doesn’t buy or sell the coins while an individual makes an exchange. On the contrary, the exchange helps an individual to match him with another user who is looking to buy the asset at the price that the individual is demanding for. This matching of buying and selling orders is one of the most vital functions of the exchange. When the exchange matches this buying and selling order for completion of the trade, it will charge a fee for the transaction to both the parties for the service of finding a suitable match. This is how an exchange succeeds in making money.

The function of matching orders often creates a bottleneck situation for numerous cryptocurrency exchanges. In case there are more trade requests than what the software can handle, there will be an invariable delay in orders. The most impressive innovation of Binance coins lies in the fact it is capable of handling 1.4 million trades within a second. This makes the Binance platform as one of the fastest in the market. Due to this reason, numerous crypto investors are flocking in to Binance.

Fast liquidity

Another critical component of the Binance exchange lies in its liquidity. Liquidity refers to the amount as well as frequency with which the assets can wander about in the exchange. For finding a quick match and complete the order at a reasonable price, there is required a lot of activity on the order book. Needless to say, Binance has the busiest order book in the globe which makes it a safe and competitive market for transactions. Binance comes with high liquidity in a lot of assets which is not restricted in Bitcoin and other top coins. It also includes numerous coins from Asia which may not be available from Western-based exchanges. This is one of the pivotal factors that contributes to the rapid rise of the Binance coins.

Using the Binance coins exchange

Since Binance do not support fiat currencies, it is not possible to convert yen, pounds, euros and dollars. The name Binance actually stands for the combination of Binary and Finance which indicates that they primarily deal in digital assets only. In order to use Binance, a person has to own cryptocurrency. Once it is completed, it is fairly easy to register and set up.

Binance coins have done in constructing a brilliant user interface without having to sacrifice the graphs, charts or any other information for making an informed decision. Trading Binance coins is quite easy and you are just a few clicks away for selecting the currency pair that you want to trade and create. The best part is that the user interface can be accessed online and may also be installed as a mobile application for Android and iOS.

It is worthy of mention here that the availability of eight different languages makes Binance coins a highly commendable one. So, no matter whether you speak English, Japanese, Russian, German, French, Spanish or Chinese, you can have the support of the Binance exchange.

Low fees

An applaudable feature of Binance lies in the competitive fees that it charges. It is absolutely free to fund the account and in case there is a successful exchange, you will be charged at 0.1 percent trading fee. It also demands for a withdrawal charge if you wish to move assets out of the account into your own private wallet. Though the withdrawal fees vary in accordance with the coin, they are flat and not based on any percentage.

With these features, it is quite understandable that Binance has successfully established itself as a demarcator of the new era.

Popular Coins on Binance

Binance Bitcoin BTC

2009 saw the birth of a new currency called bitcoin. The new currency was created by an alias called Satoshi Nakamoto. The bitcoin transactions are made without any middle man meaning there is no need for a bank. Bitcoins are used to buy any kind of merchandise and people are able to send each other bitcoins via mobile apps. It is the same as sending money digitally. Currently, bitcoin has earned itself a store value and it is trading at 8,482.17$. The prices however vary a lot. Bitcoins are stored in digital wallets which allows the user to send and receive their bitcoins, save their money or even pay for goods. Bitcoins works on a ledger that is public called block chain. Each block enter the system for user’s validation and all the users are aware of each and every transaction which hinders double spending, stealing or someone spending the same currency more than once.

Binnce Ripple XRP

Ripple was first launched in California by the former bitcoin developers in the year 2012. It is considered by market experts as the bitcoins successor as it is clearly and fast catching up with worldwide banks as a remittance system and global form of payment. Ripple, unlike bitcoin is a system but not just a currency in which through it any currency is traded or transferred. In simple terms, think of ripple as Western Union with little fees to pay when trading currencies. Currently, Ripple is trading at a market rate of 0.6977$.

Binance IOTA

Next generation block chain is the tagline for IOTA. IOTA is one of the latest and very new contenders in the field of crypto currency. Unlike the rivals like bitcoin, IOTA does not rely on any kind of underlying block chain networks. Next generation block chain (IOTA) uses a different alternative and a distributive ledger called the Tangle. It partnered with companies like Fujitsu, Microsoft. It is the first of its kind with a marketplace which is powered by the Internet of things. Currently, IOTA is trading at 1.1272$

Binance Tron TRX

TRX is a platform that enables you to store and build applications allowing you to execute smart contracts which are based exclusively on its block chain. It makes it easy for its consumers to publish data as well as contents. This ensures that the media industry and the entertainment value block chain. Tron is also set to go live on 31st March 2018 to announce to its users incredible features that will increase its usability. The founders are planning on creating a very smooth experiences for the TRX consumers. It will start with a reducing fee to a pint where it will get to be non-existence which is a big advantage to the consumers. TRX is planning on becoming the least expensive crypto currencies in terms of the fees from the rest. The usability of TRX has already been laid out by the founder, it’s now upon them to shake the market and bring the cheapest crypto currency. Currently, TRX is trading at 0.0311$. The coin is currently valued at 8.4 cents.

Raiblocks Binance NANO

NANO is a term referring to one billionth. It is a digital currency just like the bitcoin that enables you to pay goods online. It is a low latency kind of payment that requires very little resources which makes it the ideal choice for peer to peer transaction. When you are using NANO your account has its own block chain which is part of the large directed acyclic graphs. The NANO users provide the computation power for verification of their transactions. This means the entire network does not require to update overall ledgers together in any massive blocks. Currently NANO is trading at 9.19$ with a market cap of $1,225,211,357 USD