The leading crypto exchange, Binance, announced on June 13 that its platform had been upgraded to Binance 2.0. Founded in 2017 by Changpeng Zhao (CZ), the exchange has made numerable changes in an attempt to provide better user experience and more. The platform made new changes after exploring how Binance clients used the exchange and identified the areas where improvements are needed.
Features and Changes
The platform is rolling out the new platform to a few clients before making it fully available to all users in the coming days.
Binance believes that margin trading is one of the most anticipated features on the new platform and will be available to users once the new website is open to all users. The exchange will test this new feature with 1,000 lucky users who will be chosen after filling out a form.
Binance 2.0 comes with a new page where users will see their options of buying cryptocurrency – Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash – using fiat, credit card. Users can also use stablecoins such as Paxos and TrustToken to buy or sell.
The revamped website features a user center that displays all the necessary information in “under five tabs.”
Binance now gives users a checklist of what they need to do to secure their account and holdings. Security is one of the major concerns in the industry.
The exchange says that it has made changes in areas where people will not immediately notice. The new platform uses a “consistent visual language across different parts of the website.” The header and footer section now has links to every division on the platform’s ecosystem.
Binance has expanded its translation team to provide better service to people who speak the currently supported 15 languages on the website. The support center has been revamped so that users can quickly get help on the platform.
Binance 2.0 has been designed to offer better performance – faster-loading speed – and enhanced security.
Binance Is a Force to Reckon With
Binance has carved a name for itself in the crypto space within the two years that it has been operating. The platform is one of the most secure on the planet and suffered its first hack in May and lost about 7,000 bitcoins.
Justin Sun, the founder of Tron offered to cover the exchange’s losses, but CZ kindly declined the offer, showing a level of maturity and responsibility.
There is, however, a big chance that US passport holders or residents may not get to experience the new changes, in the near future at least. Binance announced that it is restricting US clients from using its services.
Binance has also been pushing itself to have a significant presence in emerging markets and has already established itself in Uganda.
Binance is a major crypto exchange and making such big moves will likely push other trading platforms to make the necessary upgrades to offer better user experience and more importantly, secure customer funds.