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How does Binance coin work?
Binance Coin can be used to pay trading fees on the Binance exchange. For example, if you trade another cryptocurrency for bitcoin on the exchange, Binance will charge you a 0.1% trading fee. That’s how the company makes money. However, if you use Binance Coin to pay the fee, they will reward you by charging a lower fee.Is Binance a 'crypto-only' exchange?
Low fees: Binance has a complex fee structure that varies based on what asset you're trading and how much you trade. But Bitcoin trades are often free. No cash: Amid increasing regulatory scrutiny, Binance.US announced in June of 2023 that it would become a "crypto-only" exchange.Why is Binance so popular?
Binance is a popular cryptocurrency exchange that launched in 2017. Its explosive growth is attributed to the combination of low trading fees and fast transactions. Binance also has its own token, Binance Coin (BNB). The name Binance is a mashup of the words ‘binary’ and ‘finance’. Who created Binance?Exchange for a better future
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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