If you have been in the cryptocurrency trading business for any length of time, you will have heard about Binance. This is because it is one of the most popular exchanges that has made it to the top of the crypto exchange list. The company has been around since 2017 and has already grown into a very successful venture. It was founded by Changpeng Zhao who also goes by the name CZ. He is a very well known figure in the crypto industry and has been involved in many other projects including OKCoin. He has also been involved with other projects like CoinMarketCap.
What is Binance?
Binance is a digital currency exchange. This means that people can trade their different cryptocurrencies using this platform. People from all over the world use this platform to buy and sell their digital currencies. There are different coins traded on this platform. Some of these include Bitcoin, Ethereum, Litecoin, Ripple, Dash, and others. People can trade between these currencies or they can trade against each other. This makes Binance a very popular platform for trading.
One of the things that make Binance so popular is the fact that it offers a wide range of trading options. These include the usual order book and limit orders. However, there are also other options available as well. One of these is called Binance arbitrage. This is where traders can take advantage of the difference in price between two different exchanges. If you want to know how this works, you need to understand what an arbitrage opportunity is. An arbitrage opportunity is when there is a difference in price between two different markets. In the case of Binance arbitrage, the difference is between the Binance exchange and the Bitfinex exchange.
How Does it Work?
To take advantage of this, you need to buy the coin on the Binance exchange and then sell it on the Bitfinex exchange. When you do this, you will get a profit. This is because the price on the Binance exchange is lower than the price on the Bitfinex exchange, making the difference worth buying. The reverse is true as well. When you buy a coin on the Bitfinex exchange and sell it on the Binance exchange, you will make a profit.
This is one of the main reasons why Binance is so popular. It offers a lot of different opportunities to make money. The fact that it is a decentralized exchange also helps. This means that no single person controls it. Therefore, there is no way for them to manipulate the prices. Instead, it is controlled by the users themselves.