Binance announced on Friday that it is now allowing crypto traders to put up advertisements on its peer-to-peer exchange platform.
This, according to the exchange, will promote freedom for crypto trading by offering an option for users to set up their own trades.
The peer-to-peer exchange will not charge the buyers or sellers for putting advertisements on its mobile application. The platform supports crypto trading with 25 fiat currencies.
Commenting on this, Changpeng Zhao, CEO at Binance, said: “At Binance, we strive to increase the freedom of money, and we are delighted to give our global users more freedom of crypto trading through creating their trades. Moreover, users can trade peer-to-peer for free, as we are not charging any fees for providing the P2P Trading platform.”
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Opening up of its platform to everyone
Binance launched its peer-to-peer platform last year, allowing only verified merchants to trade digital currencies. Now the platform is free for all as anyone can post adds.
“Cryptocurrency exchange is a profitable business, and now you can be a local crypto exchange on the Binance P2P platform. You can make your profit by providing competitive prices or new payment methods for users across the world, meanwhile giving crypto access to beginners. It starts from creating an ad on Binance P2P,” Zhao added.
The platform first added the Chinese yuan, thus tapping into the lucrative market where centralized crypto exchanges are banned.
Meanwhile, Binance is spreading its reach to every possible cryptocurrency business. Established as a crypto-to-crypto exchange, it now operates a derivatives exchange, offers lending services, has a mining pool, and many more.
Many are also concerned with the aggressive growth of Binance, which might end up creating a monopoly in various services in the crypto industry. Notably, Binance also acquired Coinmarketcap.com, the leading crypto data aggregator for $400 million.