Binance represents 5 years of the first user ecosystem!

Binance represents 5 years of the first user ecosystem!

Binance It has grown over 200 times in the past five years, doubling its user base to over 120 million people, supporting an active blockchain with more than 2.4 billion transactions, and providing support for users in 18 languages. Needless to say, the platform is a leader in the crypto space and is constantly striving for sustainable and responsible growth and innovation.

This year, the Binance platform celebrated its 5th anniversary and opened its doors to users looking for a new cryptocurrency trading experience. The platform started with a core vision of providing financial empowerment to the masses through a simple and reliable marketplace for cryptocurrency trading.

Its commitment to a “user first” approach is evident in all of its actions and endeavours, from Trust Wallet to Binance NFT and Binance Earn. Binance has also introduced several new features over the past year from Auto-Invest to Binance Live and Learn and Earn thus catering to almost any interest across the broad spectrum of what blockchain and crypto have to offer.

Empowerment through education and awareness

Although the crypto space has seen an influx of new users, there is an alarming increase in the gap between the number of new users entering the market and the number of users with a sufficient understanding of cryptocurrencies and the blockchain.

Binance AcademyLearn and Earn, and the Binance Masterclass has been an important part of the Binance ecosystem, educating and helping users in the space to make more responsible and informed decisions.

Rundown of the range of products

For many, Binance is synonymous with their exchange platform, which allows users to buy cryptocurrencies like BTCAnd the ETH, And more easily. However, since 2017, Binance has worked extensively to expand its product offering. Some of the major highlights and achievements in the Binance ecosystem include:

  • Binance Payment: Binance Pay has seen over $12 billion in total volume covering 17 million transactions and over 7,000 merchants. It has also recently partnered with Travala, Al-Futtaim, Primavera and Splyt.
  • BD: BUSD has established itself as one of the very few regulated, licensed and fiat-backed stablecoins and is the second largest regulated stablecoin by market cap.
  • Earn Binance: Binance Earn offers a range of products for users to grow their crypto holdings. The number of active users on the platform grew from 3.7 million to 4.9 million between January and June 2022. The number of supported assets also increased from 183 to 268.
  • Binance NFT: With over 6,000,000+ weekly active users, 1 billion in total trading volume for IGO drops, and 3 million gaming NFT listings, Binance NFT has grown exponentially. The Mini App was introduced in April 2022, giving users the opportunity to seamlessly access Binance NFT products and services within the app.
  • Binance Card: In the past two years, more than 1.7 million cards have been issued in the European Economic Area which shows that there is strong user demand for the Binance Card. In addition, the volume of payments exceeded 2 billion dollars.
  • Binance Charity: Binance Charity is the charitable arm of Binance that has worked on high profile campaigns such as Code to Inspire, Women in Afghanistan, Crypto Against COVID and Tree Millions. It has over 5,000 total donations, 2880,352 BTC collected, and 1.8 million beneficiaries.

Building trust with initiatives focused on regulation

Binance has acted as a responsible industry leader in its initiatives and efforts towards compliance with government and regulatory agencies around the world. The platform has proactively worked with authorities and worked to obtain regulatory approvals and registrations in Spain, Dubai, Abu Dhabi, Bahrain and Italy.

The cryptocurrency industry is still in its infancy, and one of the biggest challenges is addressing the disparity in regulatory standards around the world. Binance has developed, adapted, benchmarked and compared these criteria to determine the best. This constructive approach has helped the platform engage with regulators where licenses are available, and spark a conversation where the path to licensing remains uncertain.

Web 3 is still new to people around the world, and Binance aims to be a gateway to users in this universe. This is done by building connection, a connection with users that is simple and customized to their language and culture while also adhering to their local laws.

In front of you is the road to Binance

Binance sees the current market environment as an opportunity to build a base for the next stage of industry growth as Web 3 has a huge potential to transform people’s lives. This vision is reflected in the products they build. The products are safe, easy to use and affordable while providing real and tangible value to the user.

The platform continues to rely on the feedback and comments of its users while also collaborating with regulators that protect the industry and investors while enabling responsible innovation.

For more information about Binance, please check out Official Website.

Disclaimer: This is a paid post and should not be treated as news/advice.

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