Binance Sets The “Ball” Rolling With Binance DEX

Binance DEX

Binance, the leading cryptocurrency exchange by volume has announced on Tuesday, that its proposed decentralized exchange, Binance DEX is now officially open to customers.

The cryptocurrency exchange however, stated in its announcement that customers can only create wallets on the platform at this time. Trading activities and other features of the long awaited platform would begin at an undisclosed “later date”.

DEX Brings Transparency

According to Binance CEO, Changpeng Zhao in the announcement following the official launch,

“We believe decentralized exchanges bring new hope and new possibilities, offering a trustless and transparent financial system. … With no central custody of funds, Binance DEX offers far more control over your own assets.”

Trading Starting Soon

Trading, according to a Binance official, will begin as soon as tokens are issued and listed on Binance DEX, and trading pairs are created.

“We’re expecting this to happen soon, in the next few days. “

Recently, Binance had announced the development of its native Blockchain (Binance chain) together with the replacement of its ERC-20 BNB tokens.

Iincluded in the announcement was the creation of new BNB tokens, compatible with Binance chain, for which ERC-20 BNB can now be swapped on Binance.com.

As the firm encourages other crypto projects to issue new tokens on Binance chain, Exodus, Enjin, Coinomi, ledger and others are the compatible wallets, as well as Binance official Trust Wallet.

Dare ShonubiDare Shonubi

Author: Dare Shonubi

Dáre Shonubi is a certified cryptocurrency expert and Blockchain journalist with an extensive experience in blockchain project marketing, media engagement, community management and cryptocurrency market analysis and research. An avid blockchain enthusiast with a view to support the blockchain innovation to optimum adoption and immeasurable development. Dare holds a diploma in the study of blockchain and cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *