Binance is one of the largest cryptocurrency exchanges in the world, with a wide range of trading options available for users. However, as the cryptocurrency market continues to evolve and regulations vary by country, Binance has been taking steps to ensure that it is complying with local regulations and avoiding legal troubles. In this article, we will explore how Binance is tackling regulatory compliance in different countries.

The Need for Regulatory Compliance

Regulatory compliance is a critical issue for any cryptocurrency exchange, as non-compliance can lead to legal trouble, financial penalties, and reputational damage. Cryptocurrency exchanges must comply with regulations related to Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, among other rules. Failure to comply with these regulations can result in regulatory action, including fines or license revocation.

How Binance is Tackling Regulatory Compliance

Binance has been taking several measures to ensure regulatory compliance in different countries. One of the key steps Binance has taken is to establish local entities or subsidiaries in countries where it operates. For example, Binance has established subsidiaries in countries such as Malta, Singapore, and the United States to comply with local regulations and ensure compliance with local laws.

In addition to establishing local entities, Binance has also been working to obtain regulatory licenses in different countries. In 2020, Binance acquired a license from the Malta Financial Services Authority, which allowed it to operate in the European Union. Binance has also obtained a license from the Monetary Authority of Singapore, which has allowed it to operate in Singapore.

Binance has also been investing in compliance-related technologies to ensure that it is compliant with local regulations. In 2020, Binance partnered with CipherTrace to implement anti-money laundering (AML) solutions and ensure compliance with regulatory requirements. Binance has also been investing in its compliance team and has hired experts in compliance and regulations to ensure that the exchange is following all applicable rules and regulations.

Challenges for Binance

Despite Binance's efforts to comply with regulations, it has faced challenges in some countries. In March 2021, the UK's Financial Conduct Authority (FCA) ordered Binance to halt all regulated activities in the country, citing concerns over the exchange's compliance with AML regulations. Binance has since suspended its regulated activities in the UK and is working to address the FCA's concerns.

In addition to the UK, Binance has faced regulatory scrutiny in other countries, including Japan, Thailand, and Canada. While Binance has stated that it is committed to complying with all regulations in these countries, the regulatory landscape for cryptocurrency exchanges is still evolving and can be challenging to navigate.

Conclusion

As the cryptocurrency market continues to evolve, regulatory compliance will be a critical issue for cryptocurrency exchanges like Binance. Binance has taken several steps to ensure regulatory compliance in different countries, including establishing local entities, obtaining regulatory licenses, investing in compliance-related technologies, and hiring compliance experts. However, as seen with the FCA's recent order, regulatory compliance can still be a challenge for Binance and other cryptocurrency exchanges. As the regulatory landscape continues to evolve, it will be interesting to see how Binance and other exchanges navigate these challenges and ensure compliance with local regulations.

#Binance #binancepaymarketplace #binancians #BTC #BNB

It was really like a magic, and it is kept green in my heart.

I started trading and investing in cryptocurrency since 2019. As a result, I had lots of memories both pleasant and unpleasant LoL.

Meanwhile, My best unforgettable memory was the first day I got a call from an uncle abroad who promised to send me $200 in the year 2020.

Meanwhile, I needed the money urgently and was wondering how it would reach me from Traditional financial institution such Western Union money transfer within 2hours with queueing up, signing papers, and much more... Since what the money was needed for was very urgent and an emergency too.

The next thing he asked me was, "DO YOU HAVE A BINANCE ACCOUNT"? I answered yes uncle🔶

He told me to login to my Binance account and check my funding wallet, that he will send it as he hangs up. At first I wondered how money can be received from London to Africa within a minute 😳

Surprisingly, I checked my Binance wallet and saw the $200 in my funding and I couldn't contain my joy!

My uncle sent me the money from Abroad using #BinancePay

Ever since then, 🔶Binance pay has been one of my best development in Crypto industry.

I love Binance pay.

#binancepaymarketplace #feedfeverchallenge #feed

If you're interested in creating and selling your own NFT or a collection of NFTs, we've put together a step-by-step guide to help you get started.

There are various NFT platforms that offer tools for creating different types of NFTs. Whether you're an artist, musician, or collector, you can easily create your own NFT.

The process of creating an NFT is called minting. This involves converting your digital file into a digital asset on the blockchain, which can then be sold or exchanged.

Here are the steps to follow:

Choose the type of NFT you want to create

There are numerous types of NFTs that you can create, including works of art, event tickets, memes, media and music, games, or virtual items. These can be in the form of images, audio, or video files such as JPG, PNG, MP4, MOV, etc. You can also create NFTs for tangible items, such as valuable collectible figurines or photos signed by a celebrity.



Select the blockchain where you want to create the NFT

Choosing the right blockchain is essential, as it will keep a permanent record of your NFT. Some popular options include:

Ethereum: This is the most popular NFT blockchain, with thousands of collections available. However, transferring NFTs on the Ethereum network can come with high gas fees.

Solana: Designed as a faster and cheaper alternative to Ethereum, Solana offers transaction fees of less than $0.01. It uses both Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms, making it faster than Ethereum.

Flow: Another PoS blockchain designed for NFTs and decentralized gaming applications. It includes the popular NBA Top Shot NFT collection, making it a popular place to create sports collections

BNB chain : Late to the party but the NFT volume on BSC is increasing in comparison to other chain owing to lower transaction fees.

Set up an NFT wallet

Once you've chosen a blockchain, you'll need a digital wallet that supports it to store your NFT. Some popular wallets include:

MetaMask: A popular crypto wallet that supports a wide range of cryptocurrencies and the Ethereum and Solana blockchains. You can use it as a mobile app or install a browser extension.

Trust Wallet/safepal wallet: A digital wallet that supports ERC-721 NFT tokens and NFT collections on majority of blockchains. There is also a browser extension.

Ledger Nano: A cold wallet that guarantees the best security for your NFTs. Ledger Nano X supports both Ethereum and NFT collections on Solana.



Choose an NFT platform



There are many platforms for creating and selling NFTs. Each platform has its own NFT minting rules and fees.

Popular platforms where you can mint NFTs:

OpenSea: A popular platform that supports all types of NFTs. Supported blockchains: Ethereum, Polygon, BNB, Klaytn, Solana, Arbitrum, Avalanche, and Optimism.

Rarible: A popular platform built on Ethereum. Supported blockchains: Ethereum, Flow, and Tezos.

Binance marketplace: Currently, NFTs are minted on BNB Smart Chain and Ethereum (ETH). We will support more blockchains in the future.

Airnfts : This is Multichain NFT marketplace built on Binance Smart Chain, Fantom, Ethereum and Polygon where you can Mint, Buy. Sell and Earn with NFTs

Creating NFT

After choosing a platform, NFT creation is quite a simple process.

Below is an example of creating an NFT on Rarible:

1. Go to Rarible and click the "Connect Wallet" button in the top right corner of the screen.

2. Select your digital wallet (e.g., MetaMask) and give Rarible permission to view your accounts.

3. Click "Connect" and accept the platform's terms of service and age verification.

4. Return to the Rarible home page and click the blue "Create" button in the top right corner.

5. Choose between making one digital copy of your NFT or making multiple copies to sell the same item multiple times.

6. Upload the digital file you want to mint as NFT.

7. Next, you will be asked to choose how to sell your NFT file and set a minimum price after minting it.

8. Choose if you want to offer the full high-resolution version of your NFT.

9. Add a title and description for your NFT image.

10. Specify the percentage of royalties you want to receive for secondary sales.

11. Specify file properties such as color or size in pixels.

12. Click "Create".

13. Confirm the transaction in the crypto wallet (pay the gas fee).

14. Click "Confirm".

15. Sign the sales order by clicking "Sign" in your wallet. And that's it. Your NFT has been minted. To search for the created NFT, click on Profile > My Items. Your NFT collectibles will appear on the screen.



Additionally you can create an NFT in a very similar way on Binance Smart Chain, on the Binance exchange as well.

Please note : Only verified users can create NFTs on Binance, so you must complete Identity Verification on Binance exchange before you start. In addition, you need to have at least 10 followers on your Binance NFT user profile.

1. Go to the Binance NFT Marketplace and click on the [Profile] icon. Next, click [Created] - [Create NFT].

2.Read and accept the Binance NFT Marketplace Terms and Conditions.

3.      You will be redirected to the minting page. Enter the details of your NFT, including:

a. Name: The name of your NFT;

b. Description (Optional): A brief explanation of your NFT;

c. Network: Select the network of your NFT. We have defaulted it to BNB Chain, but you can also choose to use the Ethereum network (ETH);

d. Collection: Select which collection this NFT will be categorized under from the dropdown list. You will only see the collections on the network you just selected. For example, if you selected BNB Chain, you will only see the NFT collections on BNB Chain.

e. You may select the collection you just created, or click [+ Add a new Collection] to create another one;

f. Properties: Select the properties for your NFT. You can click [Add More] to add up to 100 properties for your NFT.

4. Once the details are set, you’ll see an estimated minting fee. Read and agree to the Binance NFT Minting Rules and Terms of Service, and click [Create].

5. Your file will start to upload. Please wait patiently for us to review your NFT. It will be assessed via an automatic verification system. Once the minting process is complete, you will see a [Minting Completed] pop-up with the contract address and Token ID of your NFT. Click [View Item] to go to your collection, or click [List NFT] to list it for sale. If the system requires more time to process your NFT, you will see a [Successfully Requested] pop-up. You will be notified via email when your NFT is minted. You can enable the minting status notification from [Profile] - [Settings] - [Notification]. If the minting fails, you will see an error message. This could happen due to several reasons. For example, the review determines that your NFT contains inappropriate content. Please note that if this happens more than or equal to 5 times within 24 hours, you will be suspended from minting for the next 24 hours.

List NFTs for sale

Once your NFT has been created and is in your wallet, you can click the "Sell" button on the platform of your choice and choose the price you wish to list it at.

Once your sale details are completed, you can put your NFT up for sale. To do this, you will need to sign several transactions in your digital wallet, which may include payment of transaction fees.



#nftcommunity #binancepaymarketplace #Binance #keepbuilding #NFT

A leading blockchain tracking firm says Ethereum (ETH) creator Vitalik Buterin is selling all his free meme coins that he was gifted.

With all of the moves occurring in the last few days, the meme token prices have reacted wildly differently to the large transaction. MOPS is trading for $0.000001 at time of writing, up 2,493% in the last 24 hours.

The Ethereum co-creator has a history of getting rid of the massive amounts of tokens often gifted to his address by smaller projects.

Two years ago, Buterin burned 90% of his Shiba Inu (SHIB) and pledged to give the remaining 10% to a charity.

The 410 trillion Shiba Inu tokens that Buterin burnt amount to about 41% of SHIB’s total supply. Upon news of the burning, SHIB spiked over 40% from $0.0000129 to $0.0000184. Buterin had been gifted half of the entire SHIB supply by Shiba Inu’s creators.

#Ethereum #binancepaymarketplace #Meme #vitalik #buildtogether

Even though NFTs are a relatively new phenomenon, there’s thousands of different NFT collections available on the market. In such an environment, it can be difficult to decide which NFTs are worth your attention and which ones should be ignored.

In this article, we’ll be highlighting the 10 best NFTs to buy right now. We mostly focused on well established NFT collections instead of smaller collections that have a lot more uncertainty.

Bored Ape Yacht Club - The most popular PFP NFT collection

CryptoPunks - A hugely influential collection of NFT avatars

Azuki - PFP NFT collection with a distinctive anime style

Otherdeeds for Otherside - Land plots for the Otherside metaverse

Fidenza - One of the most renowned generative art NFT collections

Ringers - An iconic generative art NFT collection

The Doge NFT - Fractional ownership of the Doge meme

Nouns - An NFT collection with a unique issuance mechanism and DAO

CLONE X - A collaboration between RTFKT and Takashi Murakami

Invisible Friends - A popular animated NFT collection

If you have any questions about the basics of NFTs, we recommend that you check out our NFT crash course which will explain all you need to start collecting NFTs. Otherwise, let’s get started with our list of the 10 best NFT collections to buy right now.

1. Bored Ape Yacht Club - The most popular PFP NFT collection

Bored Ape Yacht Club (BAYC) is an NFT project that was launched in April of 2021 by Yuga Labs. The BAYC NFT collection uses the Ethereum blockchain, and contains 10,000 unique ape avatars with properties of varying rarities. At launch, users could mint BAYC NFTs at a price of 0.08 ETH each, which was around $190 at the time.

BAYC distinguished itself from many other NFT projects at the time by creating products and experiences that could only be accessed by holders of BAYC NFTs, and giving them free NFTs from other collections in the BAYC universe (Mutant Ape Yacht Club and Bored Ape Kennel Club). In addition, owners of BAYC NFTs have commercial rights to the artwork. These concepts popularized by BAYC have since been adopted by many other NFT projects.

Bored Ape Yacht Club has been hugely successful, and the floor price of the collection is currently 60 ETH. This means that users who got a BAYC NFT at the mint price of 0.08 ETH have seen the value of their NFT increase by 750x in terms of ETH and about 568x in terms of USD. The most expensive Bored Ape NFT has sold for more than $3 million dollars.

Yuga Labs, the company behind BAYC, raised a $450 million funding round in 2022 at a valuation of $4 billion. They are currently working on a project called Otherside, which is a 3D metaverse where users will be able to use their NFTs as avatars. In addition, a token called ApeCoin has been launched to serve as the currency in the BAYC ecosystem. At launch, APE tokens were airdropped to holders of NFTs from the BAYC universe.

2. CryptoPunks - A hugely influential collection of NFT avatars

CryptoPunks is an NFT collection that pioneered the genre of profile picture (PFP) NFTs, which includes projects like Bored Ape Yacht Club, Azuki, Nouns and countless others.

CryptoPunks was launched in June 2017 by a U.S. company called Larva Labs. The collection includes 10,000 unique avatars that have traits of different rarities. When CryptoPunks were introduced, Ethereum users could mint their own CryptoPunks NFTs for free, with the only cost being the gas fee required for the transaction. Today, CryptoPunks is a highly sought after NFT collection, with a floor price of about 64 ETH ($115,000).

In collections that have traits of different rarities, the rarest NFTs can fetch a very high price. CryptoPunks with very rare traits have achieved truly staggering valuations. CryptoPunk #5822, which sports the extremely rare “Alien” trait, was sold for the equivalent of $23.7 million in February 2022. This made it one of the most expensive NFTs ever sold.

Larva Labs, the creators of CryptoPunks, had a mostly hands-off approach to the CryptoPunks collection, besides airdropping Meebits NFTs to CryptoPunks owners. This could change in the future, as the CryptoPunks intellectual property was acquired by Yuga Labs in 2022.

3. Azuki - PFP NFT collection with a distinctive anime style

Azuki is a popular PFP NFT collection featuring a distinct art style inspired by anime. The Azuki project describes itself as a brand for the metaverse that also aims to create real-world projects like collaborations with streetwear brands and live events. The world in which Azuki NFTs exist is called The Garden.

The Azuki collection follows the basic concept outlined by CryptoPunks. There are 10,000 Azuki NFTs, which have randomly selected traits of various rarities. An Azuki NFT with very rare traits sold for approximately $1.4 million in March 2022. However, the Azuki collection is more accessible than the likes of BAYC and CryptoPunks, as its floor price is currently at around 13.2 ETH.

There’s another NFT collection related to Azuki called BEANZ. These characters have the form of small beans and are designed to function as sidekicks to Azuki characters. Holders of Azuki NFTs received an airdrop containing a BEANZ NFT, but the BEANZ collection contains a greater number of NFTs than Azuki.

4. Otherdeeds for Otherside - Land plots for the Otherside metaverse

Otherdeeds are NFTs that will allow holders to claim a plot of land in the Otherside metaverse, which is currently being developed by Yuga Labs. This collection of NFTs was launched in April 2022 and contains 100,000 NFTs in total, with plans to expand it to 200,000 in the future. 55,000 Otherdeeds NFTs were sold through a public sale, while the remaining 45,000 was reserved for holders of Bored Ape Yacht Club NFTs and partners and employees of Yuga Labs.

Some Otherdeeds NFTs also include Kodas, which are strange creatures inhabiting the Otherside metaverse. Otherdeeds that contain a Koda tend to fetch a much higher price than regular Otherdeeds. At the time of writing, the floor price for an Otherdeed is about 1.8 ETH, while Otherdeeds with a Koda start at about 14 ETH.

Currently, it’s unclear exactly what the Otherside metaverse will look like, so Otherdeeds are definitely a very speculative purchase. However, that hasn’t stopped NFT collectors and traders, as Otherdeeds is regularly among the most actively traded NFT collections and is definitely among the hottest metaverse NFTs on the market.

5. Fidenza - One of the most renowned generative art NFT collections

Fidenza is an NFT collection by United States-based artist Tyler Hobbs that was launched in June 2021. Fidenza is an example of generative art, in which artworks are produced through code written by the artist, typically incorporating randomness to achieve unpredictable results. Fidenza was released through Art Blocks, a leading platform for generative art NFTs.

In total, 999 Fidenza NFTs were created. The collection’s striking visuals have made it one of the most renowned collections of generative art NFTs. Currently, the “cheapest” Fidenza available on the market is listed for 69 ETH, which translates to about $124,000.

The Fidenza collection is known for its variety, as it was generated with many different parameters that were selected randomly during the generation of each artwork. This means that there’s plenty of variety across the Fidenza collection when it comes to composition and color palettes. Some Fidenza NFTs have lively color palettes, while others can consist of just two colors. Some include a handful of large elements, while others consist of hundreds of smaller elements.

Regardless of the rapidly shifting trends in the world of NFTs, Fidenza is likely to remain one of the most valuable NFT collections moving forward and could be among the best NFTs to invest in over the long term.

6. Ringers - An iconic generative art NFT collection

Ringers is another example of a generative art NFT collection that was released through the Art Blocks platform. Ringers was created by Canadian artist Dmitri Cherniak, and consists of 1,000 unique artworks. The abstract artworks are based around the concept of a string being wrapped around a set of pegs in various ways.

Artworks from the Ringers collection consist of geometric shapes with a simple color palette of white, black and yellow. However, some examples also have an extra color (red, blue or green). Coincidentally, some artworks from the Ringers collection resemble real-world objects—for example, the Ringers NFT you can see above is affectionately referred to as “The Goose”.

Alongside Fidenza, Ringers is one of the most iconic generative art NFT collections and is considered a “blue chip” collection. At the time of writing, the floor price of the Ringers collection is at about 42 ETH ($75,400).

7. The Doge NFT - Fractional ownership of the Doge meme

The Doge NFT represents the iconic “Doge” photo, which has been used as the basis for countless memes (including Dogecoin). The NFT was minted by Atsuko Sato, who is the owner of the Shiba Inu dog in the picture and took the original photograph that went viral later.

The NFT was purchased by a decentralized autonomous organization called PleasrDAO for about $4 million. Instead of just holding the NFT, PleasrDAO decided to make it accessible to a community of users.

The Doge NFT is unique compared to other NFTs featured in this article because its ownership is split across thousands of different people. The ownership of the Doge NFT is fractionalized into 16.9 billion DOG tokens on the Ethereum blockchain. Anyone can buy DOG tokens on a decentralized and become a partial owner of the Doge NFT. Of course, your ownership share depends on the amount of tokens you own.

8. Nouns - An NFT collection with a unique issuance mechanism and DAO

Nouns are a collection of NFTs depicting pixel art characters with randomly selected traits. The characters are instantly recognizable thanks to their glasses, which are at the core of the Nouns project’s branding.

Unlike most other NFT collections, which usually have a one-time minting process, new Nouns NFTs are generated continuously. Each day, one Noun NFT is generated and auctioned off on the Ethereum blockchain. This process will continue forever, or at least for as long as the Ethereum blockchain is operational.

All of the proceeds from each Noun NFT auction is sent to the Nouns DAO treasury. The Nouns DAO is a decentralized autonomous organization that consists of Nouns NFT holders. When it comes to voting decisions, one Noun NFT equals one vote.

The Nouns DAO funds various initiatives that promote the Nouns project. For example, Nouns Esports sponsors a variety of esports teams in games like Dota 2 and Counter-Strike: Global Offensive.

9. CLONE X - A collaboration between RTFKT and Takashi Murakami

CLONE X is an NFT collection launched by RTFKT in collaboration with notable Japanese artist Takashi Murakami in November 2021. The collection consists of 20,000 “Clones”, which are represented with 3D avatars. Each clone can have one of eight different DNA types, which determine its basic appearance.

CLONE X is among the most popular collections in the PFP NFT genre, and is regularly among the most traded collections on marketplaces like OpenSea. The CLONEX X avatars are fully 3D rigged models, which means that they could be potentially used in virtual reality platforms or in video games. The avatars can be customized, which is a relatively unique feature among NFT projects.

10. Invisible Friends - A popular animated NFT collection

Invisible Friends is an NFT collection created by Swedish animator Markus Magnusson. It was launched in February 2022, and contains 5,000 animated characters. As the name of the collection implies, the bodies of Invisible Friends avatars are invisible, and you can only see their clothes and accessories.

The Invisible Friends project has partnered with the apparel brand Kith to feature some of the company’s products on Invisible Friends avatars. The project has also launched 3D versions of Invisible Friends which could be minted by holders of the original 2D Invisible Friend NFTs.

Invisible Friends NFTs are among the most popular animated NFTs and are relatively accessible in terms of floor price. At the time of writing, the cheapest Invisible Friend NFT available on the market is going for about 1.7 ETH.

The bottom line - There's a lot of high quality NFT collections, but the barrier to entry can be steep

Hopefully, our roundup of the top NFTs has given you some ideas of which NFT collections are worth considering if you’re looking to invest in NFTs. If you think NFTs are a good investment, these collections are certainly a good starting point to explore.

However, it’s worth noting that many prominent NFT collections have a steep barrier to entry, as floor prices can be quite high. If you’re looking to perhaps score some free NFTs, check out our list of the best free NFT drops.

#nft #nftcommunity #nftfi #Binance #binancepaymarketplace