How does the exchange platform for cryptocurrencies and other digital assets work?

Since April 2020, the platform of Chinese origin included the bolivar (VES) in its system to be able to carry out P2P operations (directly between people). It currently allows trading with more than 100 digital assets. Photo: Getty Images.
The world of cryptocurrencies is becoming wider and more relevant. This is one of the main reasons why Binance is such a useful tool today. It is an exchange that has incorporated a large number of payment options, between fiat money and crypto assets; In addition, part of its fame is due to the low commissions of each transaction compared to other platforms of this style.

The world of cryptocurrencies is becoming wider and more relevant.

This is one of the main reasons why Binance is such a useful tool today. It is an exchange that has incorporated a large number of payment options, between fiat money and crypto assets; In addition, part of its fame is due to the low commissions of each transaction compared to other platforms of this style.
This project officially started in July 2017 in China, with Changpeng Zhao, a Chinese-Canadian businessman, as the founder. The start was achieved thanks to a funding of $ 15 million that he was able to raise from multiple sources.

However, that same year the Chinese government banned the commercialization of cryptocurrencies, so Zhao decided to move, together with his company, to Japan, where he continued with his operations.

In March 2018, Binance became the exchange platform with the highest number of transactions on a global scale (a feat it still maintains). And today it has expanded to other territories and has alliances with Taiwan, Bermuda, Israel, Malta and several European countries.

Does Binance work in Venezuela?

Through the platform, users can buy or sell cryptocurrencies such as bitcoins and ethereum using bolivars through bank transactions or with the use of mobile payment. Binance offers a digital wallet where the user can deposit their crypto assets.
In April 2020, Binance reported that bolivars (VES) were added to the page’s system to make P2P operations possible and to be able to exchange them for cryptocurrencies such as BTC, BNB, among others.

“Binance is looking for local P2P merchants who have a stable source of cryptocurrencies and VES (bolivars). Merchants can benefit by offering VES and cryptocurrency operations, enjoy personalized benefits including zero security deposit, zero transactions and advertising fees, VIP discounts and exclusive customer support, ”the company reported in the statement.
Another option offered by the platform is to carry out trading operations (invest in the market, planning through calculations and probabilities to later obtain a profit).

All Binance transactions can be made through its Android and iOS app

To register with Binance, you must enter its website https://www.binance.com and select the register option. There you must provide an email or mobile phone number. In both cases it is necessary to enter a password and accept the terms of service. Then, a box will appear with a simple puzzle, which works as a captcha, where the user will have to complete to continue with the process.
Once completed, the account verification page will appear, where you must enter the code that will have been automatically sent to the email or phone number with which the registration began.
After completing these steps, the person will already have their Binance account active and the system will redirect them to another page, “Your first steps in Binance”, where the platform indicates some fundamental procedures to guarantee a good experience and performance within the herself.

“Enter the world of cryptocurrencies”, “

Deposit cryptocurrencies to start trading” and “Buy cryptocurrencies with your credit card” are the main options to start on the platform. It is also possible to search for the option “Buy cryptocurrencies on Binance P2P”.
Improve Binance OptionsAfter being registered on the platform, the user will see the option “Verify your account” on the main page. When you click on it, another page will appear where the first thing to do is enter the country of region or residence.
In the central part of the same page, three types of verifications will be displayed: basic, intermediate and advanced. This is sequential, that is, you must first do the basic to access the intermediate and finally the advanced; however, none of these are mandatory, but offer significant improvements within the platform,