Binance Brazil: everything about the cryptocurrency broker
If you trade cryptocurrencies, you've certainly heard of Binance Brazil!
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When it comes to trading volume, Binance is considered the largest cryptocurrency exchange in the world.
This means we're talking about one of the most established platforms on the market, which attracts attention for its product catalog and influence in the sector.
But if you're a first-time user and aren't yet familiar with the institution's resources, you may have doubts about its credibility and the tools it offers.
With that in mind, we've prepared a special guide about Binance so you can get all your questions about the company answered.
Read on to find out more.
What is Binance Brazil?
Binance is a cryptocurrency exchange, also known as an exchange.
The company focuses on altcoins, which are the most valued and popular digital currencies in the world.
Founded in 2017 in China, the exchange has gone global and is currently present in several countries, including Brazil.
The company's goal is to offer opportunities for those who want to invest in crypto assets.
History of Binance
Although the company was founded in China, it moved its servers before the local government's ban on the cryptocurrency market, which took place in 2017.
And by March 2018, the company already had offices in Taiwan.
That same year, following stricter regulations from China and Japan, Binance announced the possibility of opening an office in Malta.
In January 2019, the company partnered with payment processor Simplex to enable crypto purchases with debit and credit cards.
With the increase in demand for cryptocurrencies, Binance has become even more popular.
In this way, it gradually grew until it was considered the largest digital currency broker in the world.
Story of Changpeng Zhao – Founder of Binance
The founder of Binance is Changpeng Zhao.
He was born in Jiangsu, a province on China's east coast. In the late 1980s, he moved to Canada with his family.
While still a teenager, Changpeng Zhao had a lot of contact with programming, as his father was very knowledgeable about the subject.
Before he turned 18, Zaho decided he wanted to work in technology.
But it wasn't until 2013 that the entrepreneur decided to enter the crypto market. He joined Blockchain.info, a company that offers blockchain explorers and cryptocurrency wallets.
Over time, he decided to become an entrepreneur in the crypto sector and created a startup that provided systems for exchanges.
And in 2017, he founded his own exchange, Binance!
How does the Binance platform work?
Binance aims to offer a secure and dynamic platform that's easy to use even for those with little experience in trading.
To better understand how this company operates, think about the Stock exchange.
But in this case, instead of stocks and real estate funds, crypto assets are traded.
Because the company has its own order book, the value of coins or tokens may vary compared to other exchanges due to fees charged by each exchange.
However, it is important to remember that the value of digital currency is determined by the relationship between supply and demand, not by Binance or any other exchange.
What are the main advantages of Binance?
Binance is indeed a reliable broker with an excellent reputation in the market.
But to decide if it's the best option for you, it's essential to understand the main advantages of investing in cryptocurrencies through this exchange.
To help you, we'll show you some of the main advantages Binance offers its platform users:
1. Cost-benefit
With low fees and prices below the market average, Binance offers excellent value for money.
Transactions carried out on the platform have fees ranging from 0.04% to 0.1%, which is undoubtedly a competitive advantage for the company, as some competitors charge higher fees.
Plus, there are no fees for deposits.
2. Wide variety of cryptocurrencies
When people talk about cryptocurrencies, they automatically think of Bitcoin.
In fact, you can trade Bitcoins through Binance.
However, there are several other popular and valued digital currencies that can be traded on Binance.
3. Accepts fiat currencies
One of the great advantages of this exchange is the possibility of making deposits in fiat currency, which are those issued by Central Bank of each country (dollar, real, among others).
This means you can start trading directly on the platform without having to purchase cryptocurrencies elsewhere.
Another advantage is that it is possible to make withdrawals and deposits using local currency.
4. Technology
The technology used by the brokerage is very modern and efficient.
In other words, the platform offers digital security to users, who can make purchase and sale transactions with greater peace of mind.
5. Simplified version
The platform has a very dynamic and intuitive version for beginners.
This way, even those who don't have much experience can negotiate without much difficulty.
Once you're more comfortable using the platform, you can add more advanced features!
What is Binance Coin?
Binance Coin (BNB) is the native cryptocurrency of the Binance Smart Chain (BSC) network.
This digital asset performs various transactional functions within the Binance ecosystem, such as issuing new tokens and processing transaction fee payments on the Binance Exchange.
Binance Coin can be exchanged for high-value currencies like Bitcoin and Ethereum. Furthermore, users of this cryptocurrency receive incentives to prioritize its use in the form of discounts on transaction fees.
As acceptance of this digital currency was widespread, Binance Coin's use expanded beyond the platform, becoming one of the most traded cryptocurrencies in the world.
Conclusion
Now you know what Binance Brazil is, how it works, and what its main advantages are.
And if you want to start trading cryptocurrencies, it's essential to know the most reliable and established exchanges on the market, like Binance!
