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Centralised exchange (Binance)
#1 · October 25, 2023, 12:00 pm
Binance is one of the world's largest and most well-known centralized cryptocurrency exchanges. Here are some key points about Binance:
- History: Binance was founded in 2017 by Changpeng Zhao (CZ) and quickly gained popularity for its wide range of supported cryptocurrencies and trading pairs.
- Services: Binance offers a variety of services, including cryptocurrency trading, staking, savings, lending, and a Launchpad for new token offerings.
- High Liquidity: Binance is known for its high liquidity, making it a popular choice for traders looking to buy, sell, or trade various cryptocurrencies.
- BNB Token: Binance has its own native cryptocurrency called Binance Coin (BNB), which can be used for trading fee discounts and other purposes on the platform.
- Security Measures: Binance implements robust security measures, including two-factor authentication (2FA) and withdrawal whitelist, to protect users' funds and accounts.
- Fiat Support: Binance provides support for various fiat currencies, allowing users to purchase cryptocurrencies directly with their local currency.
- Regulations: Binance has expanded to offer services in multiple countries, but its regulatory status can vary. It has faced regulatory challenges in some regions.
- Mobile Apps: Binance offers mobile apps for trading on the go, making it accessible to a wide range of users.
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