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Binance is a cryptocurrency exchange and purchase site. It allows to have a currency in CFD, or in the direct purchase, and to consult the price of the action in real-time.
Over $ 1 billion worth of trades is executed on Binance every day. The crypto exchange ranked highest among those that do not inflate their trading volume to cheat the market. Additionally, Binance recently launched in the United States and has offered other secondary platforms, including Africa and the United Kingdom, which have given the company significant legitimacy as its services are offered in new countries.
What is the Binance Open Platform?
To achieve more freedom of money in the world in practice, we must provide expanded access to cryptocurrency. To do this, we need to use the most advanced solutions. To accelerate change, we need to create and implement platforms that will allow companies and individual entrepreneurs to become part of the cryptocurrency future. These tasks became the impetus for the development of the Open Platform initiative. By providing entrepreneurs, companies, and communities with tools and services for long-term growth, Binance contributes to developing the global ecosystem of cryptocurrency initiatives and acts as a provider of infrastructure solutions that facilitate the widespread adoption of cryptocurrency.
Binance Open Platform Review
Binance Open Platform Initiatives:
* Binance Access: B2B Integration for Qualified Fiat Merchants and Affiliate Cryptocurrency Wallets looking to add a native gateway for buying cryptocurrency to their website
* Binance Brokerage Program: Allows qualified SMEs to apply for the data and technology that powers the Binance exchange
* Binance Cloud: One-stop enterprise solution for launching cryptocurrency exchanges
* Binance Widget: An integration that allows websites, platforms, and browsers to give users easy access to buy, sell, deposit, and trade crypto assets through Binance
The Binance Open Platform is a testament to our commitment to sharing our own resources and technologies. If other industry projects can use our infrastructure and ecosystem, we will all become stronger together.
Binance was launched in July 2017 in China following an initial token offering (ICO) that raised $ 15 million from investors, who received Binance’s native token (the Binance Coin or BNB) in exchange. Of their investments.
The key figures of Binance are its founders – Changpeng Zhao and Yi He. The first is the current CEO of the rapidly developing and expanding company. His vast experience gained within OKCoin and the Blockchain.com wallet has helped create the world’s largest cryptocurrency market in terms of the trading volume.
In 2017, the team moved its activities to Japan, as China banned cryptocurrency trading.
The following year, in Taiwan, Changpeng Zhao and the group opened offices, announcing that they were traveling to Malta. In the European Union is a cryptocurrency-friendly country.
In 2019, the Binance team announced Binance Jersey’s launch, a cryptocurrency platform that operates independently of Binance.com. It is aimed at European investors and offers trading pairs in EUR and GBP.
In June 2019, Binance announced that it was collaborating with BAM Trading to launch Binance US. The move was seen as a sign of Binance’s willingness to strengthen regulatory oversight and allay remaining doubts about its legality and security.
In 2020, Maltese authorities said Binance Exchange did not have regulatory clearance to operate in the country.
Binance has an extensive team that operates offices in more than 40 countries worldwide, including UK, US, France, Singapore, Germany, Uganda, and India.
Binance made numerous acquisitions in 2019 and 2020. The company, for example, acquired WazirX, India’s largest crypto exchange, analysis firm DappReview and even CoinMarketCap for $ 400 million.
Today, Binance has over 15 million users with an average daily trading volume of over $ 2 billion. Binance’s businesses and websites are obtainable in many languages, including English, French, Japanese, Turkish, and Chinese.
Binance: Regulation and Security
Binance is a centralized, largely unregulated crypto exchange. However, the company has recently started working closely with regulatory authorities in the United States and the United Kingdom.
In June 2020, the company announced Binance UK’s launch, an FCA-regulated subsidiary that the crypto exchange has reserved for the UK and European investors. Binance US was also launched in 2020.
Security is a key part of Binance’s ecosystem. The company can claim to have achieved a fairly solid score on this point. However, it should be noted that Binance suffered a security breach in May 2019 that resulted in the loss of 7,000 Bitcoins after hackers compromised multiple user accounts.
Binance quickly tightened the security of its platform and created the SAFU (Secure Asset Fund for Users) set aside from the fees applied by the exchange to settle compensation in the event of such losses.
The crypto exchange also uses Artificial Intelligence (AI) and cybercrime to monitor crypto exchange activities and the Universal second Factor (U2F) style security key to authenticate transactions. On the other hand, users have access to a two-step authentication or two-factor authentication (2FA) process.
If you have opened a Binance account and want to check the level of security you have enabled, log into Binance and go to the Security Dashboard.