But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
While the platform has started accepting account registrations and deposits/withdrawals of cryptocurrencies, its services do not yet cover the entirety of the US market, as the following states have been excluded from its support as of the time of writing the review (September 19, 2019):
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Several factors explain why Binance.US launched a separate platform. Changes in regulations and Binance’s own rules reaction to external changes stand out as a large driver.
The world of cryptocurrencies can be a tricky field to navigate for the uninitiated.
The first thing to note is that Safemoon is not currently listed on any major cryptocurrency exchanges such as Binance or Coinbase. Due to this, the amount of liquidity is relatively low, meaning that technical analysis isn’t as accurate as digital coins with high liquidity. The low liquidity of Safemoon means that large buy orders tend to boost price significantly – which, in turn, leads more people to buy into the ‘hype’.
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Since 2017 Binance has grown quickly to reach its current position. However, the rise of this crypto giant was not smooth. In the quickly changing environment of cryptocurrency, government regulations are often several years behind the cutting edge. This was the case for Binance, which came into repeated conflict with government regulations of multiple countries in the years after it was founded, including, eventually, the United States. Originally founded in China, Binance has since moved its headquarters several times.
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More popular cryptocurrencies, such as Bitcoin and Ripple, trade on special secondary exchanges similar to forex exchanges for fiat currencies. (The now-defunct Mt. Gox is one example of an exchange.)
Changpeng Zhao increased crypto-asset availability as one of the founders of Binance, which has grown into one of the largest crypto exchanges. Sam Bankman-Fried, co-creator of the FTX digital asset trading platform, serves as another important individual in the industry that impacts trading, decentralized finance (DeFi) and other aspects of the crypto space.
Even if they are on the list the city watchdog is not responsible for regulating them and they don't have any power over how they conduct business with customers.
However, as the BBC reported, it was criticised for not allowing people to resell their tokens.
Moreover, holding the NFTs entitles the holders to a 3% decrease on all service charges.
This list by no means final, as Binance.US designates it as “Phase 1” digital asset offering, promising to support a wider range of cryptos down the line. The platform hopes to garner broader support in the US by enabling trading USD for popular cryptocurrencies.
China’s crackdown has delivered a windfall to international groups that mint digital tokens
Non-Bitcoin cryptocurrencies are collectively known as “altcoins” to distinguish them from the original.