At present, the digital market is full of various kinds of trading platforms, each presenting different types of services and benefits. Among all these options available, both professionals and amateur traders find it hard to choose the right sort of exchange platform for themselves. With all of them offering exclusive features, one might find themselves researching before engaging in trading on any.
However, in the world of market trading, Binance has made a name for itself for being rich in resources and reliable in service delivery. It also offers trading fees that are quite low compared to the fees provided by other trading exchanges. Not to mention its outstanding stats of the listing of coin offering and how binance list coin to exchange on the platform.
In this post, I’ll try to shed some light on the cryptocurrencies supported by binance and which one of them is supported by binance only. Kindly stay with me till the end of this article.
Listing crypto-currencies in binance
The idea behind the word “Binance” is by merging the two words, binance, and finance. And as it suggests, Binance is a binary exchange. Meaning, the trading works in crypto to cryptomanner – by pairing any two crypto coins. Binance is famous in its field for high liquidity and low transaction fees; it also offers attractive discounts to the users that use BNB coins – it is Binance’s developed coin. Binance supports trading in popular crypto coins like Bitcoin, Litecoin, Etherium, and, as I’ve mentioned before, Binance’s own developed coin, BNB.
It adopts new coins and provide them with a platform to trade and fundraise and also supports withdrawals and de-listing. The process is called ICO, which abbreviates to Initial Coin Offering, cryptocurrency enthusiasts use their token to launch a coin of their preference to raise funds or exchange. For having straightforward operation and procedures, this site is famous among traders to start coins, presently more than 150 coins are available in Binance to exchange.
Before one is allowed to trade, they will have to meet the requirements structured by Binance. Once they do, they can transfer cryptocurrency into their wallet and start selling in binance. Traders prefer this exchange platform since moving coins into the Binance wallet doesn’t require fees. However, transacting coins do, but the fee is lower than most trading exchanges. The transaction fees are also different depending on various currencies.
Binance has several services to help clients launch their desired coins. Such as Binance Labs, LaunchPad, etc. Binance Labs is developed by Binance to promote promising new coins. Those pre-ICO projects are introduced with advanced resources and necessary funding to get launched. Binance uses LanchPad to host emerging blockchain projects. Traders can also create an Application Programming Interface for them using this service. So it is as clear as a day that by using these services, traders can earn profit from launching their tokens to trade.
The list is enormous for the cryptocurrencies that are supported by Binance. Popular currencies such as Bitcoin (BTC), Ethereum (ETH), Ethereum Classic, Bitcoin Gold, Bitcoin Cash, NEO, ZCash EOS, Dash, Ripple, LiteCoin (LTC), etc. is supported along with numerous other coins backed up ICO listing and many more. Adding new coins is now faster than ever in balance, so you won’t have to wait to make a profit through buying and trading with cheap coins.
Nevertheless, most coins first list themselves in smaller exchanges before getting launched with binance. So except Binance coins (BNB), finding coins that are only exclusively supported by Binance is a hard nut to crack. Also, the list changes almost every day. Some coins get suspended; some more gets added. Recently, the US is denied of all services and trading on Binance; it is supposed to affect many exchanges and trades; obviously, we can expect some mega changes in mot so far future. Presently, the most popular coins supported by Binance are,
- Bitcoin Cash
- Matic Network
- Binance Coin
- USD Coin
- Binance USD
- Basic Attention Token (BTA)
- Paxos Standard
- Streamer DATA coin
The list above sums up the top 50 grossing currencies on Binance. On balance, using BNB, which is created by their own ICO, is quite beneficial since they come with low fees, and you can use them in your future currency plans, making it a good investment.
Binance climbed a lot of height in very little time; now, it is one of the major trading exchanges in this field. The wide variety of coins is one of the reasons that traders prefer this crypto exchange. Besides, binance helped to promote many new coins with potential and is continuing to do so.