Decentralised Finance segment has seen growth with the rise in interests in Crypto assets. However it's sudden surge in Indian market has been noteworthy. Ashish Anand of Bru.Finance helps decode the growth as he speaks with Sidhartha Shukla of ET Online in ET Markets Cryptologue. Listen in!
Besides these broader differences, there are also some practical differences when comparing Binance vs Binance.US.
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Security is a major concern when investing in cryptocurrencies. This is because there is no way to get back tokens once they have been transferred out, making the need for a secure platform all the more important. 4JNET was built with this concern in mind.
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Every cryptocurrency holder has a private key that authenticates their identity and allows them to exchange units. Users can make up their own private keys, which are formatted as whole numbers up to 78 digits long, or use a random number generator to create one.
In the meantime, cryptocurrency users (and nonusers intrigued by cryptocurrency’s promise) need to remain ever-mindful of the concept’s practical limitations.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
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When it comes to fees, both platforms have the same standard fee of 0.1%. The difference is that additional fees vary, depending on whether you are within the U.S. or not. For example, fees for bank transfers to your Binance account are free outside the U.S. However, depending on your method of transfer, U.S. users may pay up to 4.5%.
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The blockchain thus prevents double-spending, or the manipulation of cryptocurrency code to allow the same currency units to be duplicated and sent to multiple recipients.
Cryptocurrency users have wallets with unique information that confirms them as the owners of their units.