Binance will have its fifth anniversary on July 14, 2022. The business has steadily developed its brand over the past five years to give cryptocurrency users a smooth experience. With millions of customers worldwide, Binance has developed into one of the largest cryptocurrency exchanges on the market.
As a pioneer in the field of digital assets, Binance has kept expanding, innovating, and promoting widespread usage. With support for 18 languages, the exchange presently serves over 120 million active consumers.
Additionally, Binance supports a blockchain network (BNB Chain) that has seen over 2.4 billion transactions. The business, which is in its fifth year in business, credits its success to a commitment to placing users first.
Using a User-Centered Approach
By adopting a user-focused strategy, Binance has set itself apart from other cryptocurrency exchanges over time. A number of goods and solutions that cater to users’ requirements have been launched as a consequence of the company’s dedication to the user-first concept. These initiatives include, among others:
Despite the recent large surge of new users in the cryptocurrency industry, there are still very few individuals who have a solid grasp of blockchain and cryptocurrencies. Binance implemented various learning efforts to bridge this knowledge gap.
Users of Binance may now learn more about the market thanks to programs like the Binance Academy, Learn and Earn, and Binance Masterclass. Users can utilize this effort to make ethical and knowledgeable trading and investing decisions.
Users may send or purchase cryptocurrency without incurring fees thanks to Binance’s contactless, borderless, and secure crypto payment system. Over 7,000 merchants and 17 million transactions totaling over $12 billion have been processed using Binance Pay.
Recently, Binance teamed up with Travala, Al-Futtaim, Primavera, and Splyt in an effort to make cryptocurrency payments simple and convenient.
Earn on Binance
Binance Earn provides users with a wide range of products to grow their crypto holdings. In just the first half of 2022, the number of active users on the platform grew from 3.7 million to 4.9 million. Additionally, the number of supported assets on the Binance Earn platform has increased from 183 to 268.
The Binance USD (BUSD) stablecoin has established itself as one of the few fully regulated, licensed, and fiat-backed stablecoins in the market. It is presently the second-largest regulated stablecoin in terms of its market cap.
Building a Regulation-Focused Ecosystem
Binance is adhering to its key principles of user protection in keeping with its dedication to putting people first. Due to the rapid growth of the cryptocurrency market, Binance has developed to meet the highest requirements of regulatory compliance.
The exchange has actively participated in a number of projects and attempts to comply with governmental and regulatory organizations throughout the world. Binance has obtained regulatory permits and registrations in Spain, Italy, Dubai, Abu Dhabi, and Bahrain just in the past year.
Cryptocurrency assets are still in their infancy despite their increasing popularity; as a result, each nation has different regulatory rules to safeguard investors.
As a leading worldwide supplier of services for digital assets, Binance continuously develops and adjusts to these norms, contrasting them to see which is most effective.
The exchange is still dedicated to collaborating with lawmakers and regulators to develop regulations that safeguard consumers, promote innovation, and advance the market.
Putting Critical Infrastructure First
Binance intends to take advantage of the current market conditions to create a strong infrastructure for the industry’s future expansion, with Web3 playing the largest role. Binance’s goal is to establish itself as the entry point to Web3, which is still a relatively new idea.
The platform aims to make entrance into the Web3 area more straightforward, open, legal, and reliable. In order to provide genuine user value, Binance is actively working on tools and solutions that are safe, easy to use, and economical.
Binance plans to build an ecosystem over the next five years that will continue to increase the space’s legitimacy and acceptance through collaboration with regulators, education, and security.