Binance Exchange & Dollar Trading Rumors Online, Cause & Effect?

Binance, considered to be the world’s largest cryptocurrency exchange by volume, has recently denied the rumors that it would allow users to buy tokens with dollars. The company states that the claims are no more than “fake news”.

Recently, articles appeared on social media stating that Binance would introduce USD transactions soon. At the moment, Binance only trades cryptocurrencies for other cryptocurrencies, so that would be a great chance in how the exchange works. Allowing people to pay with fiat currency would possibly make the platform more popular and easy for non-crypto traders to access.

Cryptocurrencies Price Rose With Rumors

Cryptocurrencies like Monero and EOS rose more than 8% in a single day because of the rumors, while Bitcoin lost about 2% of its value at the same time.

Binance was founded by Zhao Changpeng in 2017 and, without even having a full year of existence, it is already the number one cryptocurrency exchange in the world.

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