If you are not a complete newbie to the world of cryptocurrencies, you have probably heard of Binance. It is the current world one in the provision of these services, which is literally breaking records in recent days. Today, we look at how this originally Chinese company has managed to build a position that many exchanges are just envious of.

The main competitive advantage of this exchange is a large ecosystem and quality cooperations, which provides users with convenient tools for trading cryptocurrencies. In addition, the entire ecosystem is "powered" by their own cryptocurrency Binance coin (BNB). The story begins in 2017 when trading on this exchange started being really big. The price of BNB at that time was at the level of $ 0.10, and probably few would have predicted what numbers we are looking at today.

Binance, as one of the first cryptocurrency exchanges, in cooperation with Simplex, brought the possibility of purchasing cryptocurrencies via payment cards Visa and Mastercard. This extremely facilitated the entry of newcomers into the world of cryptocurrencies as well as the purchases of experienced traders. In cooperation with the intuitive environment of the exchange itself, they created ideal conditions for a rapid increase in the number of users. In half a year, the BNB price shot from the aforementioned $ 0.10 to almost $ 22 in January 2018.

However, even a giant like Binance did not get around the problems, and in mid-2019 they became the target of a huge attack by hackers who stole up to 7,000 bitcoins worth $ 40 million. Binance almost immediately stopped the withdrawals, and its CEO Changpeng Zhao said that hackers used a combination of different techniques to break the security. However, all the stolen funds were reimbursed to the users from the fund earmarked for this purpose. Therefore, this misstep did not stop the BNB from riding on the bitcoin wave and reaching a new highest value of almost $ 38.

Among other things, Binance has presented its Launchpad platform, which serves to support new crypto projects and capital raising. By standing up a well-known exchange for the project, the risk that the new project could be a fraud is significantly reduced. Projects must also provide a certain "guarantee" in the form of a BNB purchase when entering the Binance Launchpad. In this way, Binance managed to create another significant pressure on the demand for their cryptocurrency. It is the applicability and demand for any cryptocurrency in the project ecosystem that determines its possible future success. The largest exchange has been doing really well in the long run. They also made a significant contribution to the demand for the BNB in ​​that, by holding this cryptocurrency, Binance's clients receive significant discounts on exchange trading fees.

A few months ago, Binance came up with a truly groundbreaking innovation - cooperation directly with Visa. Several other crypto projects have similar cooperation (for example, crypto.com), but only Binance offers that you do not have to charge your payment card in advance (transfer cryptocurrencies to FIAT). You can transfer the cryptocurrencies to the card directly in the application, but they will not be exchanged for FIAT until the actual payment at the merchant. You do not miss any evaluation of the funds in the crypto that you have on the card. Binance added another piece of the puzzle - this time on the cryptocurrency spending side.

As you can see, Binance has created a truly unique environment. On the one hand, they made entry into the world of cryptocurrencies easier, offers a well-designed user interface for trading, has also brought leverage trading, created its own blockchain, to which the BNB has been moved, and on the other hand offers cryptocurrency payment virtually anywhere. All of this has allowed them to reach ATH at $ 300 per BNB in ​​recent days. So if you bought BNB worth $ 100 4 years ago, you could sell it for $ 300,000 a few days ago! For a time, the BNB even became the world's 3rd in terms of market capitalization, ranking behind Ethereum and Bitcoin. Daily trading volume is counted in the tens of billions of dollars, and the company's annual profits are also in the billions.

The purchase of exchange cryptocurrencies as a BNB is, therefore, a bet that cryptocurrencies will prosper and thus their trading volume will also increase. At Dollero Technology, we decided to bring an exchange solution when founding the company, and our goal is to compete with the best in the world. We are working intensively to bring the Dollero Exchange with additional powerful tools and a whole new level of cryptocurrencies trading. We currently offer the Dollero Exchange token with the eponymous name Dollero (DLLR) in private pre-sale for the price of 1 € / DLLR and it will only depend on the quality of our solutions and the entire ecosystem, what price it will reach in the future. Would you try to guess how much will 1 DLLR cost on February 23, 2025?