When it comes to Binance Square, everyone should be familiar with it; even if you haven't heard of the name, you must have used it.
Because the entrance to Binance Square is right on the Binance homepage, users can easily enter by scrolling down.
The various articles and information you see on the discovery page are actually content published by creators in the square.
Next, this article will analyze why everyone should make more use of Binance Square from the following aspects.
1. The importance of the square: Why create a square?
2. The positioning of the square and existing/future function speculation.
3. Different user types in the square and recommendations for top accounts.
4. How users can gain benefits from the square.
1. The importance of the square💪
Binance has placed the square as an important entrance just below the homepage, proving its position within the Binance ecosystem. It is not merely an information release area but also a core strategy for Binance to build private domain traffic and solidify community value. Boldly speculating, the square section will likely become an important support for Binance as a leading exchange!
Why does Binance want to create a square?
Meet the communication needs of cryptocurrency users
Cryptocurrency users need a trustworthy and open platform to share information and exchange experiences, and the square just meets this need.
Build a unique community moat
The square adopts a UGC (User Generated Content) model, where content ecology co-constructed by users helps create a unique community barrier, making it difficult for other platforms to replicate.
Establish a long-term, sedimentable private domain traffic
The accumulation of private domain traffic in the square provides Binance with a long-term conversion lever for business expansion and lays a solid foundation for future development.
2. The positioning of the square and existing/future function speculation👻
For any user, information acquisition is very important. Besides the essential trading tools CEX and DEX, social interaction platforms are also places everyone frequently browses and communicates! Before the emergence of Binance Square, cryptocurrency users usually had the following channels to obtain information:
Top Information Platforms: Such as CoinMarketCap and various financial information websites, providing authoritative market information.
Social Media: Twitter, Telegram, WeChat, and QQ gather the cryptocurrency community, but the information is complex and scattered.
Real-time Interaction Platforms: Tools such as Tencent Meetings for project AMAs, community interactions, etc.
2.1 Positioning of Binance Square
The emergence of the square may signify the integration and upgrade of acquiring cryptocurrency information and social interaction, providing an opportunity for everyone to use just one platform to achieve all needed functions. It builds a multifunctional interactive platform for the cryptocurrency industry, meeting user needs from information acquisition to deep social interaction. Its core positioning includes at least the following aspects:
One-stop cryptocurrency information and social interaction platform
User-generated content platform (UGC)
Private domain traffic pool and user conversion engine
Knowledge sharing and user growth platform
2.2 Existing functions of the square
Currently, the square covers various functions and can meet users' diverse needs from obtaining information to interactive communication:
Discovery: Gather the latest market information, quality content, and hot topics, helping users quickly obtain industry dynamics.
Follow and Interact: Various information published and shared by other users, allowing for interactions such as following, liking, and commenting to enhance the community atmosphere.
Announcement: Important information released by Binance, including new features/token launches, platform maintenance, activity announcements, etc., ensuring users stay updated on platform developments.
News: Provides real-time news about the global cryptocurrency market, such as policy changes, project progress, and market trends, so users can stay updated on the latest market conditions.
Binance Academy: The academy section provides users with systematic cryptocurrency knowledge tutorials, from basic entry-level to advanced strategy analysis, helping users gradually improve their investment skills.
Live streaming (AMA): The square's live streaming section provides real-time interaction with industry experts and project parties, helping users gain a deeper understanding of the market and improve their knowledge level.
Hidden features:
Video sharing: Users can publish short videos to vividly showcase market views and strategies.
Check-in: Daily check-ins accumulate points that can be exchanged for benefits.
Follow and Socialize: Users can follow their favorite creators and create social relationship chains.
Personal Profile: Users can modify their nickname and introduction on their personal homepage to showcase their style.
Chat Room: Provides instant discussion group chat functions, convenient for users to exchange views and strategies in real-time.
2.3 Speculation on subsequent functions of the square
To further enhance user experience, Binance Square may continue to optimize existing functions and add new ones, making it a one-stop platform similar to 'information + Twitter + WeChat + Tencent Meetings.' Here are some possible speculations for subsequent functions:
Intelligent Content Recommendation System
Personalized content recommendations for users based on browsing preferences, follow records, and other data.
Thematic communities and diversified social networks
The square may launch thematic communities based on interests and projects, allowing users to join specific communities (such as DeFi, NFT, etc.) and find like-minded users, enhancing community belonging.
User live streaming real-time interaction and rewards
The live streaming function already opened up in the square allows KOL users to communicate with fans through live broadcasts; there may be additions of real-time market interpretation, actual trading display, Q&A, and other activities in the future to enhance the practicality and diversity of live broadcasts.
Task system and point incentives
A task system may be introduced in the future, with more types of tasks and reward mechanisms, such as daily tasks, weekly challenges, and achievement systems.
Creator revenue sharing mechanism and fan subscriptions
Introduce creator revenue sharing and fan subscription features; high-quality creators can enable 'fan subscriptions,' and fans can enjoy exclusive content or market analysis after paying for subscriptions, with creators receiving a share of the subscription fees.
Creator earnings and multi-dimensional reward mechanisms
In addition to sign-in points and content mining, the square may add reward mechanisms based on content likes, comments, reading volume, etc., to attract quality creators to contribute content and improve the UGC ecosystem.
Creator Growth Center and Training Programs
Provide growth centers for creators, including exclusive training programs, content planning guides, etc., to help novice creators grow into quality content producers.
Personalized user homepage and achievement display
User homepages may add achievement display features, badges, etc., allowing users to showcase their personal style and growth, enhancing interaction enthusiasm.
2.4 Future Outlook: A collection that meets all user needs
Empowered by these functions, the square is expected to become a one-stop platform for cryptocurrency users that integrates information, social interaction, learning, and interaction, achieving a true experience of 'information + Twitter + WeChat + Tencent Meetings' integration.
Three, different user types in the square and recommendations for top accounts👀
The most core resource of a content community should be its creators. Quality creator resources, as the core producers of content-type community platforms, must interact with the recommendation system at various life stages or links, and through the recommendation system, interact with creators at different stages to ensure the smooth operation of the entire square ecosystem!
3.1 Square user ranking
Square users can be roughly ranked according to content production quality/frequency and influence; every user can rely on continuous content output to rise. Continuously motivating users to self-improve their levels is the core value of the square product!
Top Creators: Top creators are the main content producers in the square and the opinion leaders of the platform. The content they publish usually features high quality and authority, having accumulated a large number of fans and holding significant influence within the square.
Mid-tier Creators: Mid-tier creators are important content contributors in the square, typically possessing certain market experience and a fan base. Although their content influence is not as strong as that of top creators, they also provide a wealth of quality content for the square.
Novice Creators: Novice creators are content producers who have just joined the square. They are in the initial creation stage, and their published content is relatively basic, with comparatively fewer interactions.
Occasional Creators: Occasional creators refer to users who publish content inconsistently and participate infrequently. Their creative actions are sporadic, usually occurring only on topics of interest or specific activities.
Content Browsers: Content browsers are the main content consumers of the square; they do not participate in content production but primarily focus on browsing and interaction, mainly obtaining information, learning investment knowledge, and participating in discussions.
3.2 Types of creative content and recommendations for top bloggers
Binance Square provides users with rich content and learning resources; whether for contract/spot trading users, financial management users, or profit-seeking users, there is suitable content and learning directions available in the square. Different types of creative content should be recommended for different types of users. Here are introductions to various creators in the square, which can help everyone utilize square resources more efficiently. (No particular order, recommendation quantity limited by the editor's knowledge.)
Signal Creators
Content Features: Primarily focuses on price analysis and trading strategies for contracts and spot trading, suitable for users who wish to follow market experts in trading. Will publish real-time price trend analysis and strategies based on market conditions, helping users determine the timing for buying and selling.
Suitable Users: Contract users, spot users. Signal-type content can help these users learn market analysis thinking and improve their market judgment skills.
Tutorial Creators
Content Features: Focuses on sharing tutorials on financial management and earning strategies, helping users understand how to participate in platform activities and financial projects. Their content usually provides detailed introductions to operational processes and precautions, suitable for novice users and financial management users.
Suitable Users: Financial management users and novice users, especially those interested in platform activities and financial products can gain detailed tutorials and earning strategies from this.
Technical Creators
Content Features: Focuses on technical analysis of market data, using charts, indicators, and other tools to deeply interpret market trends, providing users with more professional trading references. This content is suitable for users who wish to trade through technical analysis.
Suitable Users: Contract and spot users interested in technical analysis, who can gain a deeper understanding of market data and improve their analysis skills through technical content.
Story Creators
Content Features: Share their real experiences in the cryptocurrency world, including success and failure investment stories. By sharing their investment journeys, these creators help other users gain inspiration from practical cases and avoid common traps in investing.
Suitable Users: Users interested in investment experiences and stories, especially those who like to learn from others' experiences. Story-type content helps users gain more authentic investment insights.
Information Creators
Content Features: Focuses on publishing news updates and policy information in the cryptocurrency market, helping users understand global market trends in real time. Their content is updated frequently, with authoritative and reliable information sources, serving as an important information source for spot and contract users.
Suitable Users: Spot and contract users who need to stay updated on market trends; information-type content can help these users better track market changes.
Official Account
Content Features: Responsible for publishing platform announcements, activity notifications, new feature introductions, etc., ensuring that users can timely understand the latest developments on the Binance platform.
Suitable Users: All square users; official content helps users better understand and utilize platform features, serving as the main channel for users to obtain official information.
Recommended Accounts: @币安广场 @币安中文社区 @币安Binance华语 @新手学堂天使自治社区
Celebrities
Content Features: Well-known figures in the cryptocurrency space, whose statements hold credibility and are closely followed by countless people.
Suitable Users: All square users.
Recommended Accounts: @CZ @Yvonne Chia - TUSD @Justin Sun孙宇晨 @DiscusFish神鱼
Four, how users can gain benefits from the square🤑
Now we come to the part everyone is most concerned about: how can users gain benefits from the square? First, with its rich content and interaction methods, users can not only learn and acquire market information but also follow the strategies and operations of excellent bloggers, finding suitable ways to profit for themselves. Additionally, the square itself also offers users many benefits; the more actively one participates, the more opportunities there are to receive substantial rewards.
4.1 How KOL users can quickly settle into the square
For users who already have a certain fan base or content production capability, Binance Square is a highly potential platform for expanding influence and converting earnings. Binance's powerful market influence can help KOLs quickly transfer and expand their fanbase, achieving healthy growth.
Seamless transfer and fan growth: Binance's market position helps KOLs seamlessly transfer fans, aiding KOLs in quickly accumulating fans within the square. Additionally, the square will recommend and expose quality content, allowing KOLs' fanbase to continue to grow, forming a virtuous cycle.
Stable fan interaction platform: The inclusiveness of Binance Square is higher than that of other platforms; as long as the content complies with community rules, there is no need to worry about account bans, making it a reliable fan communication channel.
Quality content attracts attention: For users with a foundation in content production, publishing high-quality market analysis, trading strategies, and tutorial content will more easily attract attention from square users.
Creator rewards and learning opportunities: As fans grow, the square will undoubtedly support quality creators, such as awarding trophies and badges. Inviting them to participate in creator learning camps to continuously elevate their industry status, gaining more exposure and earnings.
4.2 How ordinary users can quickly gain benefits
Ordinary users, as the main content consumers of the square, can also gain benefits through various channels:
Learn KOL strategies and optimize trading decisions: Ordinary users can follow top KOLs to learn their market analysis and trading strategies, accumulating practical investment skills. This not only helps users optimize investment decisions but also reduces trial and error costs, enhancing trading returns.
Master market dynamics and seize trading opportunities: There is a lot of information content in the square, helping users promptly grasp important information such as market dynamics and policy changes. This is very important for spot and contract users, helping them seize market opportunities in a timely manner and improve trading returns.
Try content creation: Ordinary users can also attempt to publish content, such as sharing their views or experiences, gradually accumulating fans and earning further income through content creation.
4.3 Rewards applicable to all users
Binance Square provides a series of general reward mechanisms for all users; any user can earn points and benefits through the following ways:
Check-in benefits
The latest check-in task launched by Binance Square allows users to earn points simply by clicking check-in and sharing browsing posts. These points can be exchanged for fee refund vouchers, effectively reducing trading costs.
How to complete: Go to the creator center, click 'check-in,' and complete 'daily tasks' to receive points.
Essay Contest
The square holds essay competitions from time to time, encouraging users to share analyses of project developments or market prospects. Selected excellent content can receive substantial rewards, bringing real returns to creators.
Content mining and reader rewards
The square has a content mining mechanism, allowing users to purchase tokens through square article links, with a portion of the fees generated during the purchase returned to the article publisher.
The square allows users to reward creators' content, supporting creators in obtaining direct economic benefits.
Official exchange meeting rewards
Users can participate in Binance Square's official live exchange meetings, interacting online with KOLs and industry leaders. There is a chance to gain practical investment knowledge and earn rewards or chat room red packets during participation.
Video live streaming for sales
Video live streaming can also achieve sales revenue through the content mining mechanism of Binance Square. Creators can share products and recommend tokens during live broadcasts, earning revenue from fans directly purchasing related tokens or products in the live stream.
Finally
From Binance's emphasis on the square section, it is evident that more resources will inevitably tilt towards the square in the future, whether in terms of traffic support or direct funding investment, and all these will ultimately feedback to users. Therefore, we should actively participate and seize these opportunities, making full use of the functions and rights of the square!
After all, users and the platform complement each other and are indispensable. Only when users and the platform achieve mutual success and progress together can Binance firmly establish its position as a leading exchange and continue to lead the industry for a long time!
