When it comes to Binance Square, everyone should be familiar with it. Even if you haven't heard the name, you must have used it. Because the entrance to Binance Square is right on the Binance homepage, users only need to scroll down to easily enter. The various articles and information you see on the discovery page are actually content published by square creators.
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 speculations on existing/future functions👻
3. Different user types in the square and recommendations for leading accounts👀
4. How users can benefit from the square🤑
1. The importance of the square💪
Binance has placed the square as an important entrance at the bottom of the homepage, which is enough to prove the square's position in the Binance ecosystem. It is not just a news release area but also a core strategy for Binance to build private traffic and settle community value. Boldly speculating, the square section will likely become an important support for Binance as a leading exchange in the future!
Why is Binance creating a square?
Meeting the communication needs of crypto users
Crypto users need a trustworthy, open platform to share information and exchange experiences, and the square just meets this need.
Building a unique community moat
The square adopts a UGC (User Generated Content) model, and the content ecosystem built by users helps form a unique community barrier, making it difficult for other platforms to replicate.
Establishing a long-term, sustainable private traffic
The accumulation of private traffic in the square provides Binance with a long-term conversion tool for expanding its business and lays a solid foundation for future development.
2. The positioning of the square and speculations on existing/future functions👻
For any user, information acquisition is extremely important. In addition to the necessary trading tools CEX and DEX, social interactive platforms are also places that everyone frequently browses and communicates!
Top news platforms: Such as CoinMarketCap (CMC) and various financial news websites that provide authoritative market information.
Social media: Platforms like Twitter, Telegram, WeChat, and QQ gather the crypto community, but the information is mixed and scattered.
Real-time interactive platforms: Tools such as Tencent Meeting for project AMA, community interaction, etc.
2.1 Positioning of Binance Square
The emergence of the square may mark the integration and upgrade of acquiring cryptocurrency information and social interaction, providing an opportunity for everyone to achieve all necessary functions on a single platform. It builds a multifunctional interactive platform for the crypto industry, meeting users' needs from information acquisition to deep social interaction. Its core positioning at least includes the following aspects:
A one-stop platform for crypto information and social interaction
User-generated content platform (UGC)
Private 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 that can meet the diverse needs of users from acquiring information to interactive communication:
Discovery: Gather the latest market information, high-quality content, and hot topics to help users quickly acquire industry dynamics.
Follow and communicate: Various information published and shared by other users, allowing users to interact through following/liking/commenting, enhancing community atmosphere.
Announcements: Important information released by Binance, including new features/token launches, platform maintenance, event announcements, etc., ensuring users stay updated with platform dynamics.
News: Provides real-time information on the global cryptocurrency market, such as policy changes, project progress, and market trends, allowing users to stay informed about the latest market conditions.
Binance Academy: The academy section provides users with systematic cryptocurrency knowledge tutorials, from basic to advanced strategy analysis, helping users gradually improve their investment skills.
Live streaming (AMA): The live streaming section of the square provides real-time interactions with industry experts and project parties, helping users gain a deeper understanding of the market and enhance their knowledge level.
Hidden features:
Video sharing: Users can post short videos to vividly showcase market views and strategies.
Sign-in: Daily sign-ins accumulate points, which can be exchanged for benefits.
Follow and socialize: Users can follow favorite creators and create social relationship chains.
Personal profile: Users can modify their nickname and bio on their personal homepage to showcase their style.
Chat room: Provides instant group chat functionality for users to discuss viewpoints and strategies in real time.
2.3 Speculations on future functions of the square
To further enhance user experience, Binance Square may continue to optimize existing functions and add new features in the future, making it a one-stop platform similar to 'information + Twitter + WeChat + Tencent Meeting.' Here are some potential future function speculations:
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 introduce thematic communities based on interests and projects, allowing users to join specific communities (such as DeFi, NFT, etc.), find like-minded users, and enhance community belonging.
User live streaming real-time interaction and tipping
The live broadcasting function that has already been opened in the square allows KOL users to communicate with fans through live streaming. In the future, it may add real-time market interpretations, live demonstrations, Q&A activities, etc., enhancing the practicality and diversity of live streaming.
Task system and points incentives
In the future, a task system may be introduced, launching 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 activate 'fan subscriptions,' allowing fans to pay for subscriptions to enjoy exclusive content or market analysis, 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 introduce reward mechanisms based on content likes, comments, and reading volumes to attract high-quality creators to contribute content and improve the UGC ecosystem.
Creator growth center and training programs
Provide creators with a growth center, including exclusive training programs, content planning guides, etc., to help novice creators grow into high-quality content producers.
Personalized user homepage and achievement display
The user homepage may add achievement display features, badges, etc., allowing users to showcase their personal style and growth, enhancing interactive enthusiasm.
2.4 Future outlook: A collection that meets all user needs
With these functions, the square is expected to become a one-stop platform for information, social interaction, learning, and interaction, realizing a true integration of 'information + Twitter + WeChat + Tencent Meeting':
3. Different user types in the square and recommendations for leading accounts👀
The most core resource of a content community should be its creators. High-quality creator resources, as the core resource producers of content-based community platforms, must interact with the recommendation system at various life cycles or stages. Interacting with creators at different stages through the recommendation system can enable the entire square ecosystem to operate better!
3.1 User classification in the square
Square users can be roughly classified according to content output quality/frequency and influence. Every user can rise by continuously producing content. Continuously motivating users to enhance their levels is the core value of the square product!
Leading creators: Leading creators are the main content producers in the square and also the opinion leaders of the platform. The content they produce usually has high quality and authority, accumulating a large fan base and having significant influence within the square.
Mid-tier creators: Mid-tier creators are important content contributors in the square, usually possessing certain market experience and a fan base. While their content influence may not match that of leading creators, they still provide a lot of high-quality content for the square.
Novice creators: Novice creators are content producers who have just joined the square. They are in the initial stage of creation, producing relatively basic content with limited interaction.
Occasional creators: Occasional creators refer to those users who release content inconsistently and participate infrequently. Their creative behavior is sporadic and usually occurs only when they are interested in a specific theme or event.
Content browsers: Content browsers are the main consumers of content in the square; they do not participate in content production but primarily browse and interact, obtaining information, learning investment knowledge, and participating in discussions.
3.2 Types of creative content and recommendations for leading bloggers
Binance Square provides users with a wealth of content and learning resources, whether for contract/spot trading users, financial users, or those seeking rewards, everyone can find suitable content and learning directions in the square. Different types of users should be recommended different types of creative content. Below are introductions to various creators in the square, which can help everyone make more efficient use of square resources. (No particular order, the number of recommendations is limited by the author's knowledge)
Copying creators
Content characteristics: Mainly focused on price analysis and trading strategies for contracts and spot trading, suitable for users who wish to follow market experts. They will publish real-time price trend analyses and strategies based on market conditions, helping users judge buying and selling opportunities.
Suitable users: Contract users, spot users. Copying-type content can help these users learn the thought process of market analysis and improve their market judgment skills.
Recommended accounts: @颜驰Bit @艾叔 @Crypto交易员朱一旦 @无邪Crypto
Tutorial creators
Content characteristics: Focus on sharing tutorials for financial management and rewards, helping users understand how to participate in platform activities and financial projects. Their content usually details the operational processes and precautions, suitable for novice users and financial users.
Suitable users: Financial users and novice users, especially those interested in platform activities and financial products can gain detailed tutorials and earning strategies from this.
Recommended accounts: @PhyrexNi @Marktowin-项目投研家 @泵泵超人 @加密狗
Technical creators
Content characteristics: Focus 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 those who wish to trade through technical analysis.
Suitable users: Contract and spot users interested in technical analysis, as they can gain a deeper understanding of market data through technical content, improving their analysis skills.
Story creators
Content characteristics: Share their real experiences in the crypto space, including successful and unsuccessful investment stories. By sharing their investment journeys, these creators help other users gain insights from real cases, avoiding common pitfalls in investing.
Suitable users: Users interested in investment experiences and stories, especially those who like to learn through others' experiences. Story-type content helps users gain more authentic investment insights.
Information creators
Content characteristics: Focus on publishing news and policy information about the crypto market, helping users understand global market trends in real time. Their content is updated frequently, and their information sources are authoritative and reliable, making them an important information source for spot and contract users.
Suitable users: Spot and contract users who need to understand market dynamics in real time, as informational content can help these users better track market changes.
Recommended accounts: @Binance News @吴说区块链 @BlockBeats @深潮 TechFlow
Official accounts
Content characteristics: Responsible for publishing platform announcements, event notifications, new feature introductions, etc., ensuring users can stay updated with the latest dynamics of the Binance platform.
Suitable users: All square users, official content helps users better understand and use platform features and is the primary 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
Well-known individuals
Content characteristics: Well-known individuals in the crypto space, whose statements carry credibility and are closely watched by many people.
Suitable users: All square users.
Recommended accounts: @CZ @Yi He @Justin Sun孙宇晨 @DiscusFish
4. How users can benefit from the square🤑
Now we come to the most concerning part, how should users benefit from the square? First is the rich content and interactive methods, allowing users to not only learn and acquire market information but also follow the strategies and operations of excellent bloggers to find suitable ways to profit. Additionally, the square itself also provides many benefits to users, and participating more can give opportunities to receive high rewards.
4.1 How KOL users can settle in the square faster
For users who already have a certain fan base or content production capability, Binance Square is a highly potential platform for influence expansion and revenue conversion. Binance's strong market influence can help KOLs quickly shift and expand their fan base, achieving healthy growth.
Seamless transfer and fan growth: Binance's market position helps KOL's fans transfer seamlessly, aiding KOLs in quickly accumulating fans within the square. Additionally, the square will recommend and expose high-quality content, allowing KOL's fans to continue growing and forming a positive cycle.
A 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 contact channel.
High-quality content attracts attention: For users with a foundation in content production, publishing high-quality market analyses, trading strategies, and tutorial content will more easily attract the attention of square users.
Creator rewards and learning opportunities: With the growth of fans, the square will inevitably support high-quality creators, such as awarding trophies and badges. They will be invited to participate in creator learning camps, continuously enhancing their industry status and gaining more exposure and earnings.
4.2 How ordinary users can quickly benefit
Ordinary users, as the main content consumers of the square, can also benefit through various means:
Learn KOL strategies to optimize trading decisions: General users can follow leading KOLs to learn their market analyses and trading strategies, accumulating practical investment skills. This not only helps users optimize investment decisions but also reduces trial-and-error costs, improving trading returns.
Mastering market dynamics and seizing market opportunities: The square contains a large amount of informational content, helping users timely grasp market dynamics, policy changes, and other important information. This is very important for spot and contract users, aiding in seizing market opportunities promptly and enhancing trading returns.
Trying content creation: Ordinary users can also try posting content, such as sharing their opinions or experiences, gradually accumulating followers and obtaining further earnings through content creation.
4.3 Rewards applicable to all users
Binance Square provides a series of universal reward mechanisms for all users, allowing any user to earn points and benefits in the following ways:
Sign-in benefits
The latest sign-in tasks introduced by Binance Square allow users to simply click to sign in and share to browse posts to earn points. These points can be exchanged for trading fee rebate vouchers, effectively reducing trading costs.
How to complete: Go to the creator center, click 'Sign in,' and complete the 'daily task' to earn points.
Essay writing activities
The square occasionally holds essay competitions, encouraging users to share their analyses of project developments or market prospects. Selected excellent content may receive high rewards, providing tangible returns for creators.
Content mining and reader tipping
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 tip creators for their content, supporting creators in obtaining direct economic benefits.
Rewards for official communication events
Users can participate in Binance Square's official live communication events, interacting online with KOLs and industry experts. There are opportunities to gain practical investment knowledge and earn rewards during participation.
Video live streaming for sales
Video live streaming can also achieve sales earnings through Binance Square's content mining mechanism. Creators can share products and recommend tokens during live broadcasts, earning income through fans directly purchasing related tokens or products in the live chat.
Finally
From Binance's emphasis on the square section, it is evident that more resources will inevitably tilt towards the square in the future, either in traffic support or direct financial investment, and these will ultimately feedback to users. Therefore, we should actively participate and seize these opportunities, making full use of the square's functions and rights!
After all, users and platforms complement each other; neither can be missing. Only when users and platforms achieve mutual success and move forward together can Binance strengthen its position as a leading exchange and continue to lead the industry for a long time!
