What is Binance?
In addition to being an exchange for buying and selling cryptocurrencies, Binance offers a full range of financial services within the crypto ecosystem:
- Spot and Futures Trading: You can trade directly with cryptocurrencies (spot) or use futures contracts with leverage, allowing you to bet on price increases or decreases.
- Binance Earn: A tool to generate passive income. You can let your crypto "work" in flexible savings products, staking, or even high-yield investments.
- NFTs and Web3: Binance has its own NFT marketplace and access to decentralized applications (dApps) through its Binance Smart Chain.
- Loans and Cards: You can take out loans using your crypto as collateral or use a Binance card to spend your funds like a debit card.
- Referral and Rewards Programs: Inviting friends can earn you commissions or discounts on trading fees.
That said, although it is very popular, Binance has faced regulatory challenges in several countries. Therefore, it is always a good idea to check local laws before using it.