Binance User Base Reaches 9 Million, Extends Trading Support with ETC Pairs

Binance has surpassed another milestone by adding nine million users to its platform, as revealed to Bloomberg by the firm's CEO Zhao Changpeng. This is a huge achievement for the exchange as in mere six months, the number of registered users increased more than four times from mere two million in January.

The exchange already crossed seven million users by mid-March, which Finance Magnates reported earlier.

However, the massive addition of users also led to an increase in customer issues with the exchange’s services. According to a Reddit user, he was the recent victim of a crypto theft which cost him $50,000 worth of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. However, it was not the exchange’s fault as the victim was subjected to a SIM swap hacking technique.

Highlighting this case, Zhao also tweeted and asked the users to learn about security measures.

https://twitter.com/cz_binance/status/1006023982154276865

More pairs with more users

Binance maintained its apex position among the exchanges by offering a massive list of crypto trading pairs. Recently, it listed Ethereum Classic (ETC), a coin created by splitting Ethereum’s 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. The exchange added two ETC trading pairs - ETC/BTC and ETC/USDT.

#Binance Adds #ETC/BNB and $ETC/USDT Trading Pairshttps://t.co/YUUUcIWSAO pic.twitter.com/z0XoxOuFjV

— Binance (@binance) June 12, 2018

Apart from Binance, Coinbase base also announced its intention to list ETC in a few months. Both this announcements, led to a massive surge in the coin’s value as it spiked around 25 percent in mere half-an-hour.

Moreover, the exchange also noticed its users about the upcoming Tron (TRX) mainnet swap along with the introduction of a new TRX trading pair - TRX/USDT.

The exchange is also planning to introduce crypto-fiat trading pairs in a few months via its new base at Malta and has already opened an account with a local bank.