Understanding the Binance Exchange Bi𝕟a𝕟ce Logi𝕟
Primarily known for crypto-to-crypto trading—trading between two cryptocurrency pairs —the Binance exchange has among the lowest transaction fees for cryptocurrency exchanges. It has high liquidity and offers discounts to users who pay in the native BNB cryptocurrency tokens.
The name "Binance" is a combination of the words "bitcoin" and "finance." It claims high standards of safety and security, with multi-tier and multi-clustered architecture, and delivers high processing throughput—it claims it has the capacity to process around 1.4 million orders per second. It supports trading in more than 500 coins, including bitcoin, ethereum, litecoin, and its own native BNB tokens.
Other Services of Binance
In addition to exchange-specific services, Binance login also offers other tools, platforms, and services. Some of them are as follows:
Binance Earn is a platform for staking or earning interest by depositing stablecoins with the exchange. Depending on the coin and the tenure, the exchange offers investors multiple options and interest rates for these coins.
Binance Visa Card is a credit card that allows users to convert their cryptocurrency into fiat current and spend it on products and services. While the conversion does not incur adminstrative fees, third-party fees, in the form of payment network fees, apply.
BInance smart pool enables miners to switch between different cryptocurrencies for mining to optimize and multiply their income.
Binance has a block chain technology incubator called Binance Labs, which focuses on nurturing promising pre-ICO stage projects. It helps deserving cryptocurrency project teams by providing necessary funding for development, advisory resources, and a launchpad for any necessary listing and fundraising exercises.