Binance US on Listing Spree, to Add Algorand and Zcash

Binance is listing yet another two digital currencies - Algorand (Algo) and Zcash (Zec) - at its newly launched US subsidiary, the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term announced on Thursday.

This new listing came only a day after the crypto-fiat exchange added Dash to its offering.

The announcement detailed that both the coins will be listed against USD and will initiate trading today at 9 pm (EST).

The exchange already opened deposits of the two digital currencies to streamline the trading process.

Zcash is a privacy coin designed to hide the transaction details, and this raised concerns among many exchanges. Along with Dash, UpBit also delisted Zcash in September.

However, Binance is taking a different approach and is offering both tokens to the US-based traders.

“Binance.US is a fast and efficient marketplace providing access and trading across a diverse selection of digital assets,” the crypto exchange stated. “We will continue evaluating coins, tokens and trading pairs to offer on Binance.US in accordance with our Digital Asset Risk Assessment Framework, community feedback, and market demand.”

Attempt to dominate the world's crypto trading market

Launched in September, Binance is trying to compete with Coinbase in the US market. With the addition of the two new coins, Binance US will offer trading services with 17 digital currencies. For a handful of assets, the exchange is also providing trading services against BTC and USDT.

Algorand is the native cryptocurrency of the Algorand Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term. Earlier this year, Algo VC raised $200 million to support the projects using the blockchain and increase the adoption of Algo token.

BitGo also added staking services to its platform earlier this month for Algorand along with Dash.

After dominating the crypto-to-crypto trading market, Biance is now pushing to capture the lucrative crypto-fiat market. The exchange has opened similar exchanges in various markets, including Australia, Europe, and Singapore.