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Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
Importantly, cryptocurrencies can be exchanged for fiat currencies in special online markets, meaning each has a variable exchange rate with major world currencies, such as the U.S. dollar, British pound, European euro, and Japanese yen.
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This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.
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RIVERHEAD, N.Y. (AP) — An employee cost a New York county at least $6,000 in electricity bills by allegedly secretly installing dozens of machines at his workplace in a cryptocurrency scheme, authorities said Wednesday, announcing charges against him.
US cryptocurrency exchange Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices of Bitcoin and other cryptocurrencies.
People considering investing in Bitcoin or shares and stocks have also been warned over "risky" tips being shared on TikTok.
Crypto gains may be fueling the labor shortage as people buck low-paying work and take their chances on risky digital assets, research firm says
There is also a 25% discount to your fee if you use Binance Coin (BNB) to pay your transaction fee. To do this, you just have to hold Binance Coin in your Binance.US account, and your trading fee will be automatically deducted from your Binance Coin balance.