Euro cryptocurrency trading, the opening of Binance to FIAT currencies continues

Euro cryptocurrency trading, the opening of Binance to FIAT currencies continues

By Roberto D. | CryptoFarm | 3 Jan 2020


The binance growth strategy in 2019 was characterized by the opening of the exchange to FIAT currencies, thus reducing the need for traders to resort to stablecoins to protect themselves from volatility; 2020 opened in perfect continuity with this strategy as confirmed by a post on the official exchange blog published just a few hours ago.

Binance has in fact communicated that from today it will be possible to exchange cryptocurrencies and Euros, thus continuing its opening to legal tender currencies; four new pairs launched by the exchange, denominated in BTC, ETH, XRP and, of course, BNB (which stands for binance coin). In addition to the main cryptocurrencies of the binance market, it will also allow exchanges in euros on two stablecoins, both anchored to the US dollar, USDT and BUSD (the latter runs on binance chains).

 

At this rate, the cryptocurrency exchange seems destined to become a sort of hybrid of the forex markets, since the same operations that the main forex brokers offer can be managed through binance, with the difference, not least, that users they will be able to trade anonymously, provided they do not exceed the limits in terms of volumes provided by the platform.

The exchange had already started offering EUR trading pairs on its dedicated subsidiary, Binance Jersey, launched last January, but now the European currency will be available directly on the main platform, leaving out only the platform dedicated to the US market, Binance US. CZ, pseudonym used on twitter by Changpeng Zhao (the CEO of the exchange) has gone even further, coming to promise that soon the platform will offer the possibility to trade on 180 currencies with legal tender and has defined this as one of the objectives exchange keys for 2020; binance, according to CZ, intends in this way to encourage the spread and use of cryptocurrencies all over the world, thus consolidating its importance in the cryptographic industry market.

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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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