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What Is the Binance Exchange?

The Binance Exchange is a leading cryptocurrency exchange founded in 2017 in Hong Kong. It features a strong focus on altcoin trading. Binance offers crypto-to-crypto trading in more than 500 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB). In 2018, it moved its company headquarters to Malta, EU, in response to China’s strict regulations on crypto exchange businesses.

Trading on Binance

Like other crypto exchanges, Binance offers services around the trading, listing, fundraising, and de-listing or withdrawal of cryptocurrencies. Cryptocurrency enthusiasts willing to launch their own tokens can use Binance for raising funds through initial coin offerings (ICOs). Binance is used by a large number of traders and participants for exchanging and investing in various cryptocurrencies.

Binance offers an additional five types of orders for crypto derivatives, specifically futures contracts. These trade orders include:

  1. Limit order
  2. Market order
  3. Stop limit order
  4. Stop market order
  5. Trailing stop order
  6. Post only order
  7. Limit TP/SL order

Binance Coin (BNB)

Binance Coin (BNB) is the platform’s internal token. It is used to facilitate crypto trading on the Binance exchange. The coin was launched during an initial coin offering (ICO) in July 2017. Binance offered 20 million BNB tokens to angel investors, 80 million tokens to the founding team, and the remaining 100 million tokens to the various participants through the ICO process.

Almost half the funds raised during the ICO process were intended to be used for Binance branding and marketing, while around one-third were used to build the Binance platform and perform necessary upgrades to the Binance ecosystem.

Cryptocurrency ‘gives people the freedom to donate their money where they want to,’ says one blockchain investor. 

Cryptocurrencies have changed the way the financial world used to function. They have become the revolutionary and effective digital currencies that took over the banking systems. Almost every industry is harnessing the potentials of cryptocurrency and making a decentralized payment arena for the companies. 

It’s especially useful for humanitarian aid organizations working in places without viable banking systems, or in countries where it’s difficult for certain groups, like women, to access resources. For example, the United Nations World Food Program uses blockchain technology to make it easier for people living in refugee camps to receive money for food

Cryptocurrencies are also contributing to charity. Yes, you can donate cryptocurrency to charity and non-profit organizations

Please Add coin wallet address in plugin settings panel
  • Choose your desired Crypto Currency
  • Copy and paste the code into your wallet
  • Choose the amount of donation

Rehmahglobalrelief will use crypto to send money to help people living in poverty .

Places like Gaza have been abandoned by banks , organisations like paypal and other financial institutes making it almost impossible for humanitarian charities like Rehmah global relief to provide much needed help.

People have been left without basic resources like access to clean water.

Please help the people of Gaza.

What will the nonprofit do with the donated crypto?

Most nonprofits typically sell cryptocurrency as soon as they receive it. But some crypto evangelists would feel better about their donation if they knew the organization was going to hold on to the crypto either as an investment or because it could be a useful tool for helping the charity deliver its services, for example, for projects overseas. If this is a concern for the donor, they should ask the charity before making their donation.

“For people in cryptocurrency, obviously they really believe in its ability to create change,” Connelly said. Donors who would prefer nonprofits hold onto their crypto donation should find out first whether the charity “is really on board with cryptocurrency and the change it can bring vs. just seeing it as another asset they can accept to do their work,” she added