Since 2017 we have seen a mammoth amount of growth in the crypto space and Binance has been front and center during this period of time, becoming one of the largest, if not the largest crypto currency exchange, based on trading volume.
Binance exchange, up until more recently, had only only offered Crypto pairings such as BTC (Bitcoin), ETH (Ethereum) and BNB (Binance Coin), however more recently they also announced 4 Stable coin pairings, (USDT, PAX, TUSD and USDC), and some XRP (Ripple) Pairings. This was great news or people already within the crypto space, but didn’t really help new people with the on-boarding process.
Then the was the announcement of Binance Jersey. A Brand new Exchange launched by Binance, to help provide even more people with the ability to easily get in to the crypto currency space, by enabling anyone to buy and sell Bitcoin and Ethereum, in both Euros and Pounds.
The ability to buy and sell your crypto currencies ‘easily’ with fiat currency is something that is definitely needed and it’s good to see a reputable name like Binance offering this service as it paves the way for more to follow.
Lets take a look at the behind the scenes on the new Binance Fiat to Crypto Exchange, and see what exactly they have to offer!
The layout is the same as the original Binance Exchange, if you have used that before then his will be very familiar to you.
You have your basic account page, where you can change of your settings like, email, white-list addresses, and also complete your account verification. Once you’re verified, you can head over to the bank account management page, where you’re able to add your bank account (for sending and receiving payments).
Then you can access you balances, where you can see how much BTC, ETH, EUR or GBP you have in your account!
If you want to trade you have 2 exchange Views to choose from., both are actually very similar when using them.
If your new to this and this looks confusing then don’t worry, once your using it, you will find it’s actually very simple to understand.
As you can see Binance really has made this very simple to use and will enable a lot more people to enter the crypto space. Not only that, but their incentives to help encourage more user growth are extremely generous.
Firstly they are giving the first 5,000 users that complete Account Verification on Binance Jersey (from 01/16/2019 – 01/31/2019 at 0:00 UTC) 20 EUR each, deposited in to their account.
Then there the fee sharing structure, or referral rewards, where they will pay you a whopping 80% of the commissions they receive from anyone you refer to the Binance Jersey Platform.
These two offers alone i’m sure will encourage more people to join and use Binance’s new fiat gateway over alternatives, like Coinbase (Who offer $10 worth of BTC free for new users who buy over $100 worth of crypto, and then $10 worth of BTC for anyone who refers people to complete this same offer)
Personally I prefer the incentive from Binance Jersey as you can not only get free euros without having to spend first, but the are basically sharing one of their revenue streams with their users forever, it’s not quite the same as the dividend model, but it’s a step in the right direction. You can potentially continue to earn from your previous efforts long in to the future.
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