Binance US Continues It Progress To Win State Side Market Share; Listing Algorand and Zcash
Binance.US is a trading platform for the Binance team that is to be used exclusively by US citizens. The firm recently announced that it had added two more popular coins Zcash (ZEC) and Algorand (ALGO) to be used for trading. Deposits for these cryptocurrencies were opened just ahead of the trading premiere yesterday, Oct. 17.
This listing comes one day after the exchange had listed Dash to its trading platform. The announcement made it clear that these two coins will be traded against USD. Zcash is popularly known as a privacy coin. It is designed to conceal transaction details and of course, this raises issues on many exchange platforms. Upbit even delisted this coin in September alongside Dash due to pressure from regulators.
Binance is, however, having other ideas, and it has provided the coins for trading to US traders. The fiat-exchange stated:
“Binance.US is a fast and efficient marketplace providing access and trading across a diverse selection of digital assets. We will continue evaluating coins, tokens and trading pairs to offer on Binance.US in accordance with our Digital Asset Risk Assessment Framework, community feedback, and market demand.”
Binance.US Expanding its Territory
Binance.US has grown tremendously since it was initiated. The platform was officially inaugurated on Sept. 24, 2019. It has been adding new cryptocurrencies every couple of days.. Initially, it only enabled trading for ETH, BTC, BCH, XRP, BNB, LTC, and USDT.
Dash was opened for trading on Oct. 15, and this was only five days after Ravencoin (RVN) and Chainlink (LINK) were listed on Binance.US. The giant exchange platform enables verified traders to trade crypto-crypto and fiat-crypto trading pairs for free. However, this is supposed to go on till Nov. 1 only. Binance.US also provides a $15 referral bonus for every new signup.