@Binance Square Official launched a new campaign to create a guide for beginners on how to start investing in cryptocurrencies safely.
✍️ The guide must contain:
🔸Trusted crypto exchange.
🔸Possible investment options.
🔸Store cryptocurrencies securely in a wallet.
🐯✍️... This Article is for the purpose of participating in the event and for educational purposes
🐯🚨 I don't give investment advice.
💱 Trusted crypto exchange
🐯 How can we really know which is a trustworthy crypto exchange?
🐯✍️ My own opinion is that none of them offer 100% protection, but we can analyze their characteristics taking into account the above.
🕵️ Let's analyze Binance:
💱 #blockchain transparency is a characteristic of cryptos, unlike traditional finance, where corruption and criminal activity can go undetected for decades.
🔶 In blockchain transparency, Binance publishes the addresses of its hot and cold wallets, allowing outsiders to view the operations of the exchange's core wallets ✅.
🔶 Large cryptocurrency exchanges like #Binance use sophisticated wallet management systems that have to work dynamically with hot and cold wallets to ensure both liquidity and security.
🕵️ If we remember the FTX scam 🚨, they kept many of their wallet addresses secret unlike Binance which maintains transparency in the Blockchain ✅.
🔎 Binance Reserves Test 🏦
🕵️ This means showing evidence and proof that Binance has funds to cover all the assets of its users in a 1:1 ratio
✍️ When a user deposits a Bitcoin, Binance reserves increase by at least one Bitcoin to ensure that users' funds are fully backed up. Importantly, this does not include Binance's corporate holdings, which are in a completely separate ledger.
🔶 What this means in real terms is that Binance holds all user assets at a 1:1 ratio (as well as some reserves), that we have no debt in our capital structure, and that we have ensured that we have a fund emergency (SAFU Fund) for extreme cases.
🏦 Withdrawal of Funds on Binance
🏦 Users can withdraw their funds whenever they wish, as has been proven time and time again, even in times of strong negative news such as December 2022.
🔶 Binance faced multiple bear cycles and massive waves of FUD-fueled panic runs that would have brought down some of the world's largest traditional financial institutions, proving it was fully funded 1:1.
🏦 The average 24-hour trading volume on Binance is currently around $38 billion across multiple blockchain networks. This figure is significantly higher than any other exchange.
🔶 A transaction between a Binance cold wallet ❄️ and a Binance hot wallet 🔥 is often necessary to ensure liquidity of in-demand tokens or to support a large one-time withdrawal from a user who could be an individual whale 🐋 or a fund. coverage with a Binance institutional account.
✍️ The sweeping and movement of funds between hot and cold deposit wallets - all visible on the blockchain occurs completely independently of updates to the user's account balance.
📊 Possible investment options
🐯 One of the easiest ways to earn is with Simple Earn.
🏦 Simple Earn
🏦 Allows users to earn rewards by depositing their digital assets during Flexible or Locked terms.
🐯 If you are a beginner simply use a stablecoin like $USDT, so you don't have to worry about volatility, and simply have your savings in a stablecoin while you receive profits.
🏦 Flexible products distribute rewards based on real-time#APRand bonus APR.
✍️ Real-time APR is a live indication of the rewards you can receive and is subject to change every minute. Rewards accumulate in your Earn wallet every minute.
📊 Tiered Bonus APR is offered from time to time for select Flexible products through a tiered rate structure and is subject to change daily. These rewards will be visible the day after subscription.
⛲💰 Binance Launchpool
🐯 The second thing I would recommend to a newbie, since it can be accessed with a stable crypto like $FDUSD .
🔎 What is Binance #Launchpool
🔶 Binance Launchpool allows cryptocurrency holders to lock their assets to earn new tokens, they can receive assets from new projects by locking $BNB , FDUSD and other supported tokens at no cost.
💰 Rewards are proportional to the subscription amount and Launchpool period.
🔐 Store cryptocurrencies securely in a wallet.
🔶 Binance Web3 Wallet is a cryptocurrency self-custody wallet
🔎 It acts as a digital gateway to blockchain-based applications (dApps) and offers users a secure 🔐 and optimized method to manage their cryptocurrencies, exchange tokens on multiple chains, earn returns and interact with different blockchain platforms.
🏦 Multi-party computing (MPC) technology governs each transaction and mitigates points of failure to ensure your assets are protected in the SAFU. Other enhanced security features, such as bad address protection and malicious contract detection, etc., will notify you if a token or blockchain carries a security risk 🚨🕵️ at the time of transaction.
🐯 Remember that if you need to learn, it is best to ask the official Binance staff, as they have uninterrupted customer service: 24 hours a day, 7 days a week to enjoy a perfect user experience 🤝.
🐯 Remember that this article was for the purpose of participating in #StartInvestingInCrypto which is an event proposed to us by the official Binance account @Binance Square Official .
✍️ Therefore Do not take this article as investment advice.
📚 Yes, it is Educational content, and the information technology was extracted from a Blog written by Bianance himself, including images that I used in this post.