“Unlike currencies issued or approved by governments and central banks, a cryptocurrency it is generated by solving mathematical problems based on cryptography or they can be pre-mined ”, Hinz details. “There are two types of cryptocurrencies, some that are considered volatile, since their value is subject to price variation, depending on supply and demand in the markets. The first cryptocurrency of these was Bitcoin, launched in 2009, and there are also others such as BNB or Ether. On the other hand, we have the stablecoins, which are cryptocurrencies stable in value. That is, they are always worth the same. The most traditional are those tied to the dollar, but there are also some that are tied to gold, the Brazilian real or the euro. In these cases, the underlying asset is usually the one they represent ”, he describes about the concept of cryptocurrency.
Since their inception, they have been used, like common currencies, to save and exchange for goods or services. “Cryptocurrencies can be used to save, exchange and even buy or sell products and services. Nowadays there are restaurants, travel shops, and even clothing stores that accept them, ”he says. “You can also mount smart contracts on them, causing one of the parties to charge or pay a specified amount of money if certain events occur. For example, we could make a smart rental contract that automatically pays the property owner the negotiated value at the end of the month, ”he adds.
It is also being used in the buying and selling digital art, called NFT’s, which are backups of works of art on the blockchain.
How do you acquire a cryptocurrency?
Maximiliano Hinz indicates that the simplest and safest way to buy and sell cryptocurrencies is through Binance, either with a card or through P2P. “In the first case, the operation is completed internationally against Binance and in the other it is a marketplace where it operates against a local counterpart, in which Binance acts as an intermediary to guarantee the fulfillment of the transaction,” he says.
Binance is a platform for the exchange, purchase and sale of cryptocurrencies world leader. Offers a level of maximum security and the best customer service. “In addition, within the platform you can learn everything about cryptocurrencies and how to obtain the best results with them, through our section Academy that offers information and courses at no cost ”, he reports.
To use it, you must download the application for mobile phones available for Android and IOS, or accessed through the binance.com website. Then you must create an account, which is free, by completing the registration form.
The next step is to verify the account, for which the indicated procedure must be followed, which is quick and easy. Once the account is created and verified, cryptocurrencies can be bought and sold by charging balance to the account through credit / debit cards or through P2P purchase between merchants.
Anyone, of legal age, you can register with Binance and create an account. Once the account is created, you can use the entire platform.
With Binance, you can buy and sell cryptocurrencies fundamentally, generate returns with them, but thanks to the inclusion of Binance Pay You can now buy air tickets, hotel stays, clothing, restaurant dinners and other options with cryptocurrencies.
“Currently Paraguay is in a period of initial adoption of cryptocurrencies. It is not yet a widely used instrument among its citizens, but we do notice that there is a lot of interest in them, “says Binance’s director of operations for Latin America. “We see that there is a great development in the area of cryptocurrency mining. This is very good for the country, as it is a way to generate foreign exchange, as well as it is good for the industry, since it is sustainable energy that is used for mining ”, he alludes.
How secure is this system?
The safety of its use is one of the points that people take into account the most. “Binance is one of the exchanges safest on the market”, Assures Hinz. “One of the most important focuses is security, which is why we constantly invest in infrastructure improvements to always be one step ahead in supporting our platform to take care of the integrity of our clients,” he highlights.
Hinz states that Binance is the only exchange that offers a guarantee fund. It is called “SAFU Funds” and they are created from saving a part of each transaction in a cold wallet. “In the remote event that user funds are compromised, these guarantee funds would be used to repay users for their affected funds,” he says.
Due to its volume of trade worldwide, Binance is the main cryptocurrency exchange with users in more than 180 countries and regions, with the aim of guaranteeing basic infrastructure services for a greater organization of cryptocurrencies worldwide.
One of the main advantages offered by the platform is to provide constant training for users with the aim of providing the tools needed For both beginners and experts in everything that makes the world of cryptocurrencies.
The platform trading is able to process more than 1.4 million orders per second, being one of the cryptocurrency trading sites fastest in the world. Binance focuses on security, robustness and speed of execution, and this is appealing to both beginner and professional traders alike.
A great differential offered within this ecosystem is Binance Academy, a guide with everything related to cryptocurrencies focused even for those just starting out and who want to understand how mining works, or an expert, looking for develop a trading strategy, becoming a window of access for learning open to all the public.
Binance is a infrastructure service provider giant for the blockchain ecosystem with solutions to access professional services in the field such as Binance Chain, to make instant transactions safely.
Among the various utilities and solutions offered through Binance, the site aims to increase the money freedom worldwide, because it believes that by spreading this freedom, opportunities for people around the world can be significantly improved.
Regarding the attention for users, it is also positioned with a high acceptance to resolve queries through a 24/7 support on the platform.