Users of Binance have until December 30, 2019, to register for a chance to win ‘EXCHANGE THE WORLD 2019’ NFT.  This is the final collectible of the Binance six-part holiday series. To be eligible, the users should complete the tasks laid down by the Binance team.

Of note, “EXCHANGE THE WORLD will be minted by the Enjin (ENJ) team using their token standard and sent out 14 days after the event ends.”

Binance Margin Trading

Changpeng Zhao (CZ), the CEO announced BNB for margin trading. In a follow-up tweet, “CZ praised the development and recommended that users don’t short BNB or else they will get “REKT.”

There has been a recent criticism of the Binance CEO trying to influence the market price with his tweet.  Ever since CZ tweeted, asking traders to not short trade, BNB has been down by -54%.  The traders have not been following CZ, and most of them counter traded, and this is the most apparent counter trade of 2019.  CZ had made a failed prediction. Besides, Binance is the fourth-largest Bitcoin futures exchange.  

BNB was recently referred to by Bloomberg as the “best-performing cryptocurrency.”  BNB allows holders to get trading-fee discounts and several other benefits provided on Binance. In a scenario where there is a lot of scrutiny from the regulators in China, particularly US Binance, there is a greater need to retain their users.

The primary reason for Binance surging is their practice of burning BNB to bring down the numbers of outstanding coins. For every quarter, Binance burns the BNB, considering the trading volume for the three months. Recently, the company has been in an acquisition spree.

The competition for Binance is getting more robust in terms of several other exchanges offering trading discount fees. 

Jeff Dorman, Chief Investment Officer at Arca, stated: “The exchange business is getting incredibly crowded.” He further said, “At the start of 2019, BNB was the only exchange token available. Now there is BNB, OKB, KCS, HT, FTT, FLEX, and LEO. That’s a lot of competition for the same customers.”

Binance Permits Buying 4 crypto with Credit or Debit Cards

Binance permits investors to buy four cryptocurrencies with their credit or debit cards.  Thus, users will now be able to buy Bitcoin (BTC), Ether (ETH), XRP, and BNB can be purchased using Euros or British pounds.

For now, the facility is for Visa cards, and in the future, Binance will be providing such facilities for MasterCard and other cryptocurrencies. Major financial firms have expressed their apprehension about permitting cryptocurrency transactions with credit cards. Several financial firms are exerting capital controls, and they are limiting crypto purchases.