Binance & BNB Coin: Complete Beginner’s Guide | Is Binance Banned in U.S.?

binance coin and binance exchange what you need to know binance coin is the cryptocurrency issued by binance exchange and trades with the bnb symbol as of now binance exchange is the largest cryptocurrency exchange in the world supporting more than 1.4 million transactions per second in this video we'll uncover the basics of binance coin what is binance exchange and how does it work we'll also explain what trading options binance offers and how you can use it if you stay until the end we'll tell you whether binance coin is banned in the us let's jump right into it [Music] finance coin is the native token of binance unlike other crypto currencies it has a set supply with no mining process binance coin initially ran on the ethereum blockchain with erc20 standard but has since become the native coin of binance chain it is launched during the initial coin offering or ico in july 2017 and has a strict maximum of 200 billion bnb tokens almost half the funds raised during the ico process were intended to be used for binance branding and marketing while around one-third were used to build binance platform and perform necessary upgrades to binance ecosystem as of now bnb is the fifth largest cryptocurrency by market capitalization behind only bitcoin ethereum cardano and usd tether now let's talk about what the bnb coin is used for binance coin or bnb is the platform's internal token it is used to facilitate crypto trading on binance exchange in addition to exchange-specific services binance also offers other tools platforms and services here are a few binance earn is a platform for staking or earning interest by depositing stable coins 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 administrative fees third-party fees in the form of payment network fees do apply finance smart pool enables miners to switch between the different cryptocurrencies for mining to optimize and multiply their income binance has a blockchain 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 listing and fundraising exercises binance also offers a site called launchpad for hosting new and emerging blockchain projects and api interfaces as of march 2021 42 plus projects have been launched have you heard the term convert to bnb what does it mean and how can you use it in the world of cryptocurrency dust refers to any number of coins or tokens that are so small they're often ignored they're basically the tiny fractions left from trades binance allows traders to convert their dust into bnb using binance exchange next let's understand what is bnb market or binance exchange the bnb market simply refers to the place where bnb is bought and sold most purchases of bnb take place on binance exchange traders can buy and sell bnb on binance.com as well as other crypto platforms finance exchange is a leading cryptocurrency exchange founded in 2017 in hong kong it features a strong focus on altcoin trading binance offers crypto to crypto trading in more than 500 cryptocurrencies and virtual tokens including bitcoin ether cardano litecoin dodgecoin and its own token binance coin bnb if you're liking this video and want to see more make sure to press the like button and subscribe to the channel so that you can get more videos about blockchain cryptocurrency and new trends in the future let's summarize the key takeaways from binance market 1.

Binance is an online exchange where users can trade crypto currencies it supports most commonly traded crypto currencies 2. binance provides a crypto wallet for traders to store their electronic funds 3. the exchange also has supporting services for users to earn interest or transact using cryptocurrencies it also offers programs for miners and to help traders make investment decisions four binance has its own blockchain based token binance coin now let's focus on binance trading like any other crypto exchanges binance offers services around the trading listing fundraising and de-listing or withdrawal of cryptocurrencies cryptocurrency enthusiasts willing to launch their own tokens can use binance for raising funds through initial coin offerings or icos binance is used by a large number of traders and participants for exchanging and investing in various cryptocurrencies to start trading users must complete the necessary kyc requirements upon successful trading account creation users can add cryptocurrency funds to their public wallet address provided by binance to start trading binance exchange supports three types of trade orders limit market and stop limit orders limit orders are executed only at the limit price set by the trader market orders are executed immediately at the best available market price stop limit orders become valid orders only when the price reaches a specified level binance offers an additional seven types of orders for crypto derivatives specifically futures contracts these trade orders include one limit order two market order three stop limit order four stop market order five trailing stop order 6.

Post only order and 7. limit tp or sl order as promised let's talk about whether binance coin is banned in the us in 2019 binance was banned in the united states on regulatory grounds in response binance and other investors opened binance u.s binance u.s is an american partner of binance the world's largest cryptocurrency exchange by trading volume and which was founded in china in 2017. the original platform stopped accepting u.s users in 2019 and announced it would instead partner with a us-based version of its platform called binance us it also has an easy to use buy and sell option for beginners while more advanced traders can get the benefit of its in-depth basic and advanced trading platforms binance us can grab investors attentions with lower fees than many other cryptocurrency exchanges but we'd recommend paying a bit more attention binance us at a glance 50 plus currencies available not available in connecticut hawaii idaho louisiana new york texas or vermont flat 0.1 fee for spot trades and 0.5 percent fee for instant buy and sell 10 minimum trade and option for recurring investments for dollar cost averaging to learn more subscribe and leave a comment saying i subscribed and we will personally reply to your comment we'll see you in the next video

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