Posted 9 months ago | by Ben Armstrong
Binance Expansion Continues with BitTorrent Partnership and the Addition of SNX
Binance, one of the largest cryptocurrency exchanges in the crypto world, has been expanding its services with the continuous addition of new currencies, partnerships, and cryptocurrencies support: Now, it is BitTorrent and Synthetix Network Token (SNX).
The Decentralized exchange will also be launching a new debit card in partnership with Swipe, as well as acquiring multiple companies to provide its users with new features. To take advantage of the rise of DeFi tokens by trading SNX and COMP today, make sure to sign up and use Binance by clicking here.
Binance USD Becomes the First Stablecoin Supported by BitTorrent
With this partnership, Binance USD (BUSD) has become the sixth cryptocurrency supported by the p2p filesharing platform along with BTC, BTT, OCB, TRB, and BNB, while being the first stablecoin to be supported.
The addition of BUSD means that BitTorrent users will be able to buy BitTorrent and µTorrent Classic Pro using it.
In addition to the addition of BUSD, the ERC-20 BNB token that was already implemented in the platform for the newer BEP2, offering more liquidity and speed.
As part of this announcement, BitTorrent will be offering 25% off all crypto-based Pro purchases.
Binance has Now Listed Synthetix SNX
This listing comes at a time when Decentralized Finance (DeFi) tokens have seen a major increase in popularity and growth over the last months, with major exchanges like Binance noticing their potential.
SNX is the second DeFi token available in the Binance exchange at this time after Compound (COMP), being chosen before other popular DeFi tokens like MKR.
This listing will surely open SNX to a new audience of crypto traders as well to the DeFi growing industry, which will probably result in increasing interest and adoption of these tokens.
What is Synthetix?
Synthetix is a DeFi project built on the Ethereum network that allows users to trade and create decentralized synthetic assets which can be anything from cryptocurrencies to commodities.
The Synthetix network aims to provide infinite liquidity, peer-to-contract trading, and distributed collateral protocol, allowing the trade of major currencies to create synthetic assets.
Synthetix has enjoyed incredible growth over the last months with the launch of binary options, with both trading volume and the amount of sUSD being minted.
The inclusion of SNX in the Binance exchange is sure to bring benefits for both platforms and users alike, as well as the DeFi industry.
Articles on Bitboy may contain affiliate links that help us to remain profitable. It might come as a surprise, but all these great articles aren't cheap to produce. If you don't mind helping us out, please click on the links!