Things to know about Binance – The world’s largest cryptocurrency exchange!

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In today’s market, there are many cryptocurrency exchanges for users to choose from and look for opportunities to increase the value of their assets. Among them, Binance is considered one of the leading representatives in the global cryptocurrency market. So, what is Binance exchange and how to use Binance for investment effectively? Let’s explore with Coin Shop details about Binance through the article below!

What is Binance?

With the strong development of the Blockchain and Big Data fields, investors today always try to diversify their investment portfolios to maximize profits, and participating in trading on Binance is one of the ways. popular method. This is also in sync with the explosion of the global cryptocurrency market, especially in Vietnam.

Binance Binance is one of the largest cryptocurrency exchanges in the world, with billions of transactions per day and over 1000 different trading pairs. This exchange has an extremely large scale, allowing users to conduct buying and selling activities with a variety of cryptocurrencies.

For beginners, Binance is often recommended and favored because of the reputation, speed and safety it brings. With such a large scale, Binance opens up trading opportunities with a variety of cryptocurrencies. One of the highlights of the exchange is its ability to conduct transactions reliably, quickly and securely.

What is the Binance App?

For Binance, investors can participate in trading directly on the Binance website or download the Binance application (App) to their phone to use. Both of these methods provide the same full features and amenities as on Binance’s website.

app-Binance Currently, the Binance application is available for both Android and iOS operating systems, allowing users to choose according to personal purposes and preferences. You can download the app to your phone to make transactions or access it directly through your web browser, depending on your choice.

History of formation of Binance exchange

Binance was founded in August 2017 by CZ! The father of Binance is Changpeng Zhao (CZ), whose Chinese name is Trieu Truong Bang, a Chinese-Canadian, considered the founder of Binance. It is estimated that CZ holds up to 70% of the shares of the Binance cryptocurrency exchange. Initially, the Binance virtual currency exchange was established in China. However, with strategic goals, the floor’s offices were moved to Hong Kong and Japan. By March 2018, Binance continued to relocate its office from Japan to the island nation of Malta.

What is BNB?

BNB is the electronic currency representing Binance, issued by Binance exchange through the organization of an ICO in July 2017. BNB coin is built on Ethereum’s Blockchain platform with ERC-20 standard. BNB is used in the ecosystem of Binance and Binance Chain (BEP-2). The history of BNB coin has gone through many fluctuations and changes.

BNB coin BNB coin is used for many purposes, one of which is to pay salaries for engineers at Binance. You can also see more information about BNB coin in the article:…

Special features of Binance floor

Binance, the world’s largest cryptocurrency exchange, not only achieved the top position but also maintained its outstanding growth rate by continuously updating and developing new features, to optimize the experience. user experience and attract more investors to participate. Below are some highlights of Binance that investors can experience:

  • Stable and uninterrupted due to the use of a powerful multi-layer architecture system.
  • Supports multiple devices and many different web browsers.
  • Fast transaction speed and high processing efficiency, reaching 1.4 million buy/sell orders per second.
  • Supports more than 41 different languages ​​from Chinese, English, Korean, to Vietnamese and many other places.
  • Supports many listed fiat currencies such as USD, GBP, EUR, CNY, VND, etc
  • Diverse cryptocurrencies and high liquidity, always maintaining a leading position in the industry.
  • Supports many different cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Qtum (QTUM), Binance Coin (BNB), etc.
  • The development team has rich experience and excellent achievements in the field of finance and cryptocurrency.
  • Supports all devices and multiple languages, has been deployed on more than 30 interfaces, providing the best user experience.

Outstanding services on Binance

Binance cryptocurrency exchange is not only a trading platform, but also an ecosystem with a variety of products and services as follows:

  • Spot Trading: Binance offers more than 740 cryptocurrency and fiat trading pairs, with an order matching system capable of processing up to 1.4 million orders per second.
  • Margin trading – Margin loan: This is a trading method that allows investors to use loans from third parties to enhance their investment ability and find profitable opportunities.
  • Futures Contract Trading: This product allows investors to predict and order cryptocurrencies at predetermined prices in the future, creating great profit opportunities based on forecasts of market fluctuations.
  • Savings directly on the exchange – Savings: Investors can deposit cryptocurrencies such as BNB, USDT, or other DeFi coins to receive daily/monthly interest. Direct savings provide flexibility and high profit opportunities.
  • Binance Pools: This platform supports cryptocurrency miners by providing regular payments and low fees, as well as other products to maximize cryptocurrency mining profits.
  • Binance Launchpads: Binance Launchpads enable Blockchain projects to raise investment capital and increase access to the cryptocurrency community. This platform is used to issue Tokens, promote brands, and support new product launch projects.
  • P2P trading: This feature allows investors to make direct trades between users or with merchants, in which Binance only acts as an intermediary.

dau-tu-san-binance This feature has been launched in the Vietnamese market since January 2020: Investors can own cryptocurrencies such as BTC, ETH, USDT in Vietnamese Dong (VND) on the Binance platform. After that, they can switch from P2P features to Spot, Margin, Futures trading features without fees and without going through intermediary platforms.

  • Binance NFT Marketplace: Many people have used Binance NFT Marketplace to display and sell their art products. If you own an NFT that you designed yourself, you can list it for sale to other investors at an attractive price. Many NFTs that are unique, beautiful and interesting, or highly applicable have attracted attention and become a business product that is expected to bring high profits.

How to trade on Binance?

Nowadays, trading on Binance is easier thanks to the instructional videos and detailed articles that the exchange has provided. Besides, there is a support team including Vietnamese staff, helping you easily resolve problems during the transaction process.

Binance trading fees

Trading fees on Binance are much lower than other exchanges, which attracts many investors to choose Binance as a place to trade cryptocurrencies. Currently, the fee is 0.1% for both Taker and Maker for regular user accounts. When upgrading your account to VIP 1, VIP 2,… the fee is only 0.02 %/0,04% for Maker/Taker. In particular, if you use BNB coin as a transaction fee, the cost will be reduced by 25% for all account types. Additionally, you can refer to the transaction fee schedule on Binance here

How to trade at Binance

Investors can trade cryptocurrencies on Binance through the mobile application or directly on the website. The specific order placement process includes:

  • Step 1: Select the coin or token you want to buy/sell in the market section.
  • Step 2: Choose to buy or sell.
  • Step 3: Choose the type of order you want to use (limit order, market order, stop-limit order, OCO order).
  • Step 4: Set the desired transaction price.
  • Step 5: Click the buy/sell button on the screen to complete the transaction.

Is Binance reputable?

With a large number of participating users and large transaction volume per second, Binance is one of the exchanges highly appreciated by most investors. The exchange always maintains a leading position in the cryptocurrency market, and this has been highly appreciated by experts for its reputation with the following points:

  • Diverse types of cryptocurrencies.
  • Low transaction fees.
  • Large trading volume and high liquidity.

Note when using Binance to trade

Before deciding to participate in Binance, investors need to conduct thorough research and self-assessment about this exchange. Although Binance is considered relatively good, due to too many people participating, fraud is also increasing. You need to be alert before each transaction, update the latest information from the exchange so as not to miss important announcements about system updates, changes in trading regulations, and ensure your investment process. you are the safest and most effective. To ensure account security:

  • Set a strong password and change it periodically: A secure password with enough elements such as uppercase letters, lowercase letters, special characters, numbers, etc. will have higher security, avoiding being stolen by hackers. hacker, and should not share your password with anyone else.
  • Enable two-factor authentication – 2FA: Even if hackers have the password, they still need the two-factor authentication device you previously set up to log in. This gives you time to detect and change your password or account lock in time.

In case you detect unusual activities such as unauthorized access from strangers to your account or suspicious withdrawal transactions, you need to immediately disable your Binance account or contact the exchange directly to resolve the issue. receive the most timely support.

With a friendly interface and quick support service, Binance is very popular with Vietnamese people, but in general, the opportunity to earn profits from cryptocurrency is still the main factor motivating investors to participate. participate in trading on the floor. Hopefully this article has helped you better understand Binance and its advantages. Although there is still much debate about the future of cryptocurrency, until now, Binance is still a reliable tool for cryptocurrency lovers and enthusiasts. Don’t forget to follow many interesting and useful reads about financial investment at Tioi Coin!