Binance Hack, Coinbase SEC Complains and Stablecoins Invasion – Crypto Exchanges Preparing for the Next Bull Run
As the world warms up to the reality of the cryptocurrency market as BTC nears $7k again , it is important that people get to know how top trading platforms are doing so far. There are presently more than 100 cryptocurrency exchanges globally, but we will be examining the latest news from Top 4 you cannot ignore.
Binance opened for business as a crypto-to-crypto only exchange. It soon gathered momentum having completed its ICO in July 2017. One of the strong selling points for Binance was its focus on the global market. It opened its doors to anyone who resides in a jurisdiction where cryptocurrency was not outlawed.
The buzz about Binance soon spread across the world, and by mid-2018, it dethroned Coinbase as the largest cryptocurrency exchange in the world but with great power comes great responsibility As of 05.07.19, its now also the scene of a major cryptocurrency theft. In what the company calls a large-scale security breach, hackers stole not only 7,000 bitcoin—equivalent to over $40 million—but also some user two-factor authentication codes and API tokens.
When it comes to withdrawing your cryptocurrency, at present, you can do so with any of the tokens or coins supported. A direct fiat withdrawal is not yet supported on the global exchange unlike users of its subsidiaries like Binance Uganda and Binance Jersey.
Binance limits charges to 0.1 percent for transactions on the platform, and this is further reduced when you opt for BNB as the transaction coin for payment of trading fees.
BeaXchange offers two stablecoins as a trading incentive. It also is in the ranking as a fast and reliable exchange to work with. Here you can easily trade on Litecoin, Bitcoin, Stellar, and Ethereum. These top 10 coins and tokens are widely traded across the globe, and they also attract volatility, and hence high returns.
This exchange might be newer to the cryptocurrency market than the other exchanges mentioned here, but it offers something different from them. Also, you are given a risk removal freeze option. When you freeze your crypto instead of selling, the platform gives you stablecoins, and this is a 100 percent buyback provision with EURO or Japanese Yen. You can refund the stablecoins at a later date, and you will get access to your crypto in equivalent value for your trading
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