Binance is an all cryptocurrency mall founded by CZ in 2017. After stumbling on Binance, I have never been happier. The free transaction rates and over-the-counter OTP are just about everything.
However, it is important to note that Binance US is different from Binance. Reason for this is US has cryptocurrency regulations on any platform in its country. Binance also broke a few laws by allowing US traders to continue trading a while back, even after the country put a ban. This was in 2019.
I understand this move because what would you do if you had the largest number of traders banned?
Why is Binance Always Ahead?
Binance is always ahead of other platforms for many reasons. The following are some of the reasons.
1. Binance and Khaby Lame.
A recent content creator from Senegal became famous last year after his "common sense" videos. The video's creator is Khaby. He is the most followed person on TikTok. Therefore, partnering with Khaby as their brand ambassador is a smart move.
Binance will reach many cryptocurrency users at a time using simple less technical terminologies. Creating Khaby NFTs, too, will attract many investors. I am happy for both Khaby and Binance! Kudos for this smart move!
2. Bitcoin Pizza Day.
Binance follows current cultural trends, celebrating each event as it comes. By celebrating Bitcoin Pizza Day, Binance partners with Pizza Inns to sell Pizza to users who pay in Bitcoin. Therefore, many users take to the platform. I hear the most expensive pizza sold for 10,000 BTCs on that day, which is $300 million.
As Binance is turning 5, it also has a major convention. Many people will flock to this place and exchange ideas concerning cryptocurrency, the economy and the way forward. There will also be many giveaways.
3. Binance Adopts New Incoming Cryptocurrency Technology.
Last year, Binance adopted NFTs, and it has had huge success. Binance adopting new technology in crypto will make it at the top of its game. Therefore, it becomes a cryptocurrency mall. If you go through Binance, you will notice there is a Binance Mall, Binance Academy, a Launchpad, an OTP, and many other things. One good thing with Binance is that it adopts this technology in a manner that makes it cheaper for users.
4. The Platform Also Has Many Giveaways.
Binance encourages users to trade by giving away coupons, bonuses and free cryptocurrency in the form of BNB. BNB is Binance's native token. Bianance has given me three coupons, unfortunately, I did not know how to use at the time. It is giving away many things in its "BinanceTurns5" convention.
5. Binance Allows Users to Convert the Remaining Small Amounts of Crypto to BNB.
This feature is very important. I have used a platform where you leave little amounts of crypto in a platform, and over time you lose a lot of cash. Accumulating the coins over time could even give you up to 1000 USDT.
Advice for anyone who wants to start a Cryptocurrency Mall
In 2019, a friend of mine told me Binance would die. After observing the rise and fall of crypto CEXs and DEXs, I suppose he was right to assume that. Therefore, my friend was transferring all Binance crypto to MetaMask.
Well guess what? I suppose he was wrong. Binance adds value to society; therefore, it is very difficult for anything that adds value to die.
What I have learned in the crypto space is to always add value, especially when offering global services. The 0.1 profit from anyone globally can make you a billionaire daily.
You can actually build your own Cryptocurrency Mall in real life that sells crypto-merch, or build one on the Metaverse. A trading platform is okay, but by doing so you will have to outdo Binance, which is nearly impossible.
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