Over the past two years, cryptocurrencies and blockchain technology have dominated the news. As the global pandemic provided an ideal setting for cryptocurrencies to shine, the crypto ecosystem expanded at an unprecedented rate with the market capitalization of cryptocurrencies crossing $2 trillion.
The growing buzz around crypto is attracting countless enthusiasts who want to be a part of the crypto ecosystem and ride the rising waves of innovation before it’s too late. Binance, one of the largest cryptocurrencies and blockchain technology providers is committed to facilitating the adoption of crypto by users of every level, by creating an ecosystem that is inclusive of the entire blockchain community.
Even though a variety of platforms offer services for crypto, users often stumble on hindrances like a complex user interface or unreasonable trading fee structures which makes them uncertain about diving into the crypto sphere. Binance strives to solve these challenges by providing an inclusive platform, deeper liquidity, and a competitive fee structure to ensure users with the best value for their money for cost-efficient trading.
Barriers in the crypto space
As users venture into the crypto market they are often put off by the high trading fees and lack of utility of the products offered by platforms which makes them think twice before investing. WIth periodic improvements to prices and high liquidity offered by Binance along with a diverse range of product and service offerings of high utility value, investors and traders can enjoy trading at a lower fee.
For a very long time, teams behind many blockchain projects tended to remain anonymous and closed off, and investors were wary of projects run by such anonymous teams. In addition to anonymity, some crypto teams also tend not to interact with their communities, which resulted in the stunted growth of the project’s ecosystem.
Binance has always strived to be a community-inclusive and transparent platform that valued the users’ feedback which resulted in a unified ecosystem from which users can access a wide range of benefits across their products regardless of the type of investing or trading strategy they adopted. Loyalty reward programs such as the VIP9 on Binance Spot, lets users enjoy VIP9 benefits on Binance Futures.
Stagnation of growth in platforms is a cause of concern for users as they want improved services and products that resonate with the market’s growth. Binance continuously monitors changes to improve its ecosystem to keep up with the industry demands and provide the best possible service to its customers.
Pursuing crypto-financial inclusion
As the crypto space is constantly changing, Binance never stops evolving to adapt to this change. The periodically updated offerings and fee structures are in resonance with the accurate analysis and valuable feedback gained from users.
Recently, the platform upgraded the USDⓈ-Margined Futures Liquidity Provider Program, increasing maker rebates to up to 0.003% and improving access to Binance Futures’ low-latency API service.
To cope with the surge in demand for NFTs, gaming tokens, Web 3.0 coins, and other cryptocurrencies that has mirrored the rising public interest in the metaverse and Web 3.0, the platform has brought in more than 1400 spot pairs, 200 futures pairs, and continuously adds new tokens to satisfy the users’ rising demand and diversify their trading strategies.
Furthermore, every trade executed by Binance Convert users is free of charge. Zero-fee trading campaigns are conducted to make trading more accessible to a larger user base, with all USD stablecoin trading pairs included in the current Zero Trading Fee Promotion, allowing traders to trade without incurring any additional fees.
Competitive crypto prices offered improves the accessibility of the assets offered. Users can pay in BNB, the native token of the Binance ecosystem instead of traded tokens to avail of trading fee discounts on Binance DEX.
Users often find it tedious to convert their crypto into cash as they fear slippage of the value of their assets due to low market liquidity or high volatility. 80% of the platform’s spot pairs offer better liquidity than the rest of the market. Daily liquidity monitoring and weekly filtering out of poor liquidity pairs conducted by Binance Futures ensure deep liquidity in both bear and bull markets to provide robust liquidity for users.
The Spot Liquidity Provider and Liquid Swap feature not only boosts liquidity on Binance by rewarding eligible market markers with trading fee reductions but also offers instant liquidity with low fees for DeFi users. Thus with improved liquidity, based on historical live trading data, a lower slippage as compared to other exchanges is offered.
With a comprehensive variety of crypto offerings, competitive trading fee structure, and deep liquidity enhanced by a variety of programs, Binance is paving the way for a crypto-inclusive world thus supporting the growth of the crypto industry and community alike.
For more information on Binance, please check out their official website.
Disclaimer: This is a paid post and should not be treated as news/advice.
