The Binance cryptocurrency exchange continues to develop its Russian ecosystem. This time she addedthe possibility of selling and buying rubles for USDT.
The ruble can now be exchanged directly for USDT
For Russians, this news is very significant. No matter how negatively we feel about USDT and the Tether company, in this situation the new pair is more beneficial.
Before, in order to enter and withdraw rubles, it is necessaryIt was to think about the course of cryptocurrencies, choosing a convenient entry point. We all know that the price of bitcoin and other digital currencies can seriously change over a short period of time. This creates serious inconvenience: for example, you planned to buy 1 BTC in a few hours, postponed the required amount in rubles, and cryptocurrency suddenly gained 5-10%.
With a new trading pair you can make money onexchange and wait for the right moment with a calm mind. In addition, you can take profits and withdraw rubles when it is convenient for you, without waiting for a suitable cryptocurrency rate.
The exchange announced about the innovation on its Twitter. The update also added three direct cryptocurrency pairs with the Turkish lira.
#Binance Adds ETH / TRY, XRP / TRY, USDT / TRY and USDT / RUB Trading Pairshttps: //t.co/TlhaxBEOWs pic.twitter.com/al8syw2vc7
- Binance (@binance) December 25, 2019
Let us recall that support for the Russianruble appeared on Binance in early December. To work with it, as with any other fiat currency, you will have to undergo identity verification, so this option is not suitable for those who like anonymity.
Earlier, the exchange also launched support for five other fiat currencies, including the euro (EUR), with which you can buy BTC, BNB, ETH and XRP.
Changpeng Zhao said on his Twitter that the ability to purchase cryptocurrencies using fiat currencies can significantly change the world for the better:
Slowly but surely! #Binance
Many people still don’t understand the impact this will have, but they will. pic.twitter.com/Ci5Geabm6A
- CZ Binance (@cz_binance) December 21, 2019
Binance now has crypto fiat sites inSingapore, Uganda, Jersey and the USA. However, the company has yet to conquer the US market, since Binance US is still difficult to compete with Coinbase crypto-exchange, which successfully operates in its homeland.
We previously reported that Binance Futures was launching Bitcoin Cash futures contracts with up to 75x leverage.
The head of Binance commented on YouTube blocking
This morning Changpeng Zhao shared his opinionabout mass blocking of cryptocurrency videos on YouTube. He encouraged the community to take advantage of the benefits of blockchain and move to social networks that are not subject to censorship.
It may be time the #crypto community take a stab at its own blockchain-enabled sensorship-resistent social media platform.
Lots of challenges though, spam, scam, trolls, incentives, copyright, token economics, governance, stickiness, privacy… But
It’s about time!
- CZ Binance (@cz_binance) December 25, 2019
He added that this also has its risks. For example, a truly free social network will become a haven for scammers, pirated content, spammers, trolls, and will also incur the wrath of governments. But considering the current Internet giants are confronting us, the choice is clear. It’s a pity that right now there is no really competitive replacement for the same YouTube on the blockchain. Perhaps Zhao hinted at the launch of his social network?</p>
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