BTC/USD
 
ETH/USD
 
XRP/USD
 
LTC/USD
 
EOS/USD
 
binance star shining

Binance Prepares OTC Service And Gives Away BNB To Lucky Winner

ยท in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The cryptocurrency exchange Binance is working in order to start offering over-the-counter (OTC) services to users. This would help investors have direct access to the cryptocurrency market with fiat currencies. 

At the same time, Binance is currently conducting a survey to understand which colours fit the best to the trading platform. A lucky user will win one BNB. 

Binance Exchange Expands

Binance is one of the largest and most popular cryptocurrency exchanges around the world. With one of the largest trading volume in the industry, Binance is trying to expand its services and products. 

According to He Yi, the co-founder of Binance and chief marketing officer, the exchange will be supporting fiat on-ramp using OTC for the Chinese yuan. He Yi said that at a media session at the Shanghai Blockchain Week. 

He Yu explained that the service is part of a larger effort to increase its presence in the Chinese market. China decided to ban crypto trading activities back in 2017 before the massive bull run that helped Bitcoin reach $20,000. 

As authorities in China restricted users’ access to cryptocurrency exchanges, fiat-to-crypto OTC markets have been expanding int the country. Other exchanges, including Huobi or OKCoin, moved overseas and started offering crypto-to-crypto trading. Moreover, they have also recruited OTC market makers to help users have access to the crypto market. 

CoinMarketCap reports Binance is currently the largest exchange in terms of trading volume with $1.55 billion handled in the last 24 hours. 

Improved Color Options for Binance

In addition to it, Binance is currently giving away 1 BNB to a lucky winner that would be selected after answering a few questions regarding the exchange. The goal is to understand which are users’ thoughts about the colours the exchange should adopt. 

The survey consists of a few questions in which there are different shades of green and red colours for the trading interface on Binance. The order book, the charts, and many other numbers at the platform could have a different shade of green an red. 

Binance also wants to know whether traders have some issues with their sight, for example, if they are colour blind or if they don’t know whether they are or not. 

Although the reward is not so important as in other giveaways, it will help the platform offer a better user experience with colours that fit most of the people. 

The Bear Market Report
Our Bear Market guide not only helps you survive this crypto winter, but also guides you through the foundation you'll need to thrive in the next bull run.