BIT is spent exclusively in Bitcoin and gets its value only from the purchase price of BTC. It is also important to understand that some of these sites like Live BTC News also provide basic information like introduction to charting, how the Bitcoin works, etc. They also bring other useful information like Bitcoin analysis, currencies and the economical situation, risk management, profit making tips and more can be of great help. Binance features a strong emphasis on altcoin trading, offering crypto-to-crypto trading in more than 600 cryptocurrencies and virtual tokens, including popular Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own Binance Coin (BNB). Singapore, Singapore, August 2nd, 2023, Chainwire Additional account abstraction capabilities, including a social recovery feature,… What makes Binance particularly attractive is its extensive list of supported crypto-assets and their trading pairs, including the industry’s hallmarks like Bitcoin and Ethereum, as well as smaller and similar site micro-cap tokens. In total, hackers drained 2 million BNB tokens – about $570 million at current prices – from the network, Binance’s BNB Chain said in a blog post on Friday. So-called cross-chain bridges are tools that allow the transfer of tokens from one blockchain to another.

The loss of any one will unravel the other two. Still creating a new platform will consume more time and many resources to start from the beginning. So if the stuff got, if the purchasing power of gold got too high, why, people would start to melt their jewelry and vice versa. If people are willing to help prove this I would be very grateful. Binance Pay, developed by Binance, is a contactless, borderless payment technology intended to allow people to send and receive cryptocurrencies and shop and pay with cryptocurrency. Deposit fees depend on the currency and method of payment. In Bitcoin, the payment sender is responsible for paying all the fees. Minimum withdrawal amounts and fees vary, based on your withdrawal method and currency. The crypto currency has fallen more than 75% from its all-time high near $69,000 a year ago. Ether, the second most popular token, fell about 13% to $1,137 – also off 75% from its record high. Investigators tracked the money through many layers of bank accounts to Binance and another exchange, U.S.-based Kraken, police said. By the time Binance and Kraken provided account records, the police said the funds had been withdrawn or sent to a “mixer,” a service which anonymises crypto transactions by breaking them up and mixing them with other funds.

You can withdraw money to a bank account in a fiat currency, or withdraw crypto to a wallet or another exchange. Binance is an operator of a blockchain-based cryptocurrency exchange intended to facilitate exchanges at a lower trading costs. Binance Coin (BNB): Unlock the power of the Binance ecosystem with BNB, the native cryptocurrency of the Binance platform. Your trading fee percentage depends on your trading volume in the past 30 days and the amount of BNB you hold. “An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. 0.10 per token during Binance’s ICO. Each token must fulfill Binance’s standards and criteria just to be considered for listing (and can also be de-listed for violating the terms). What is Binance’s SAFU fund? To increase trust, Binance offers a Secure Asset Fund for Users (SAFU), in which 10 percent of all trading fees are stored in a secure asset fund to protect a share of user funds.

Binance’s transaction fees are lower than .10 percent. Needless to say these charts are created to show how information on an individual subject in a comprehensible and easy way and make perfect decisions. We provide understandable and perfect trade setups with Entries , Targets and stop loss. You can also trade other cryptocurrencies for Bitcoin on the Binance Exchange. According to Bloomberg, the meltdown of FTX is already under investigation by the Securities and Exchange Commission and the Commodity Futures Trading Commision. Virtually all digital assets sank Wednesday over the turmoil at FTX. The FTX saga escalated over the weekend, when Binance’s CEO, Changpeng Zhao, said his company would liquidate its holdings in FTX as speculation swirled about the company’s financial health. Options like Coinbase, Binance, FTX and Gemini are popular if you’re looking for a crypto-specific platform. “As with many bridge designs, there is one central point that holds most of the funds that are moving through the bridge,” Adrian Hetman, tech lead of the triaging team at Immunefi, told CNBC.

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