Greetings to the CryptoLocally community!
As a continuation of our commitment to bring more value to our customers and enhance their trading experience, we are excited to announce the support for Binance’s BNB on CryptoLocally! This is yet another significant step in our journey to bring you the easiest and fastest Peer-to-Peer (P2P) decentralized trading service on the internet.
CryptoLocaly and BNB: how does it work?
CryptoLocally is a truly decentralized P2P trading platform; offering you the simplest and most secure way to trade the tokens of leading blockchains, with your local currency.
Users can trade any amount within a few short minutes of signing up, with a variety of payment options. All of this in a currency of their choice.
Our trading platform provides an easy-to-use interface that allows users to directly trade BNB with one another. It offers all the necessary tools to make transactions simple, fast and secure. Transactions are protected by an escrow, which is governed by a smart contract to ensure no one other than you will ever have access to your funds.
If you are an existing CryptoLocally user, you can trade BNB by simply selecting BNB from the drop-down menu located at the top right-hand corner of the screen and enjoy the same great trading experience you have had to date!
New users don’t need to worry, as no prior experience is needed to use CryptoLocally. Simply in minutes after registering privately and securely, with only an email address. If you need help on how to trade on the platform, you may browse through our easy to use, step-by-step guide here or find us on Telegram @CryptoLocally!.
We have been committed to identify and support chains that resonate well with our core values. We believe BNB is an excellent choice as the first token we will support outside the EOS ecosystem, as it is a scalable, secure and decentralized blockchain.
BNB is the protocol token of the Binance chain, similar to Ether Gas on the Ethereum Network. It powers Binance’s decentralized exchange (DEX), as well as acts as the main utility token for Binance’s centralized exchange where its primary purposes are listing voting rights, IEO participation, bounties, and other special privileges. Furthermore, it has become a popular digital currency accepted as a form of payment worldwide through its various commercial partnerships.
Like many successful blockchain platforms, it started as an ERC-20 token issued on the Ethereum blockchain. It later migrated to its own blockchain which was developed in-house and holds similarities to Cosmos and Tindermint. However, it does not support smart contracts and is primarily used for token issuance.
BNB is backed by one of the most well respected and successful crypto exchanges in the world, Binance and one of the most successful IEO in crypto, giving its investors more than 9000% returns on investment. Aside from its highly successful crypto exchange business, Binance has made several high profile acquisitions such as Trust wallet, Indian crypto exchange WazirX and more recently, crypto data aggregator website Coinmarketcap.
BTC (BEP-2) and BUSD Support
In addition to listing BNB, CryptoLocally will also support two BNB-based cryptocurrencies namely BTC (BEP-2) and BUSD. The former is a BTC-pegged digital asset that can seamlessly operate within the Binance Chain allowing it to interoperate with other digital assets in Binance’s DEX. Every BEP-2 BTC is backed 1:1 by BTC and is issued by Binance. Users will now be able to trade BTC in a faster, cheaper and more secure way.
BUSD on the other hand is Binance’s native Stablecoin developed in cooperation with PAXOS, a blockchain-based regulated financial institution that is known for building infrastructure for the digitization of physical assets. This stablecoin is 100% backed by the US dollar and is approved by the New York State Department of Financial Services (NYDFS).
Start trading BNB, BTC and BUSD with your local currency on CryptoLocally today!
For more information about CryptoLocally, check out our official website and social media accounts:
Or reach out to us any time in our Telegram channel!