BitoPro, a Taiwan-based fiat-to-crypto exchange, has announced the listing of Binance Coin (BNB). This enables users to purchase BNB directly using New Taiwan Dollars (TWD) or the stablecoin USDT on the platform.
The integration of BNB, the native token of the world's largest cryptocurrency exchange, provides Taiwanese traders with easier access to one of the top digital assets by market capitalization. This move is expected to improve liquidity and offer greater asset diversity for BitoPro's user base.
Overview of the BNB Listing on BitoPro
The listing took effect on September 3, allowing BitoPro users to trade BNB against TWD and USDT trading pairs. BNB is the seventh-largest cryptocurrency globally and the only exchange platform token within the top ten by market cap.
According to market data, BNB has a market capitalization of approximately $3.5 billion, with a 24-hour trading volume of around $220 million. The token has seen significant price appreciation throughout the year, rising from about $6 in January to a peak of $39, with a current price near $22 at the time of writing.
This upward momentum is partly attributed to Binance’s introduction of new services, including its Initial Exchange Offering (IEO) platform and margin trading features.
Benefits for Taiwanese Crypto Traders
The addition of BNB meets growing demand among Taiwanese investors for reputable and widely-used cryptocurrencies. Binance has a substantial user base in Taiwan, making BNB a desirable asset for trading and utility purposes.
Although BitoPro has its own exchange token, BITO, the decision to list BNB strengthens the platform’s competitiveness. It provides users with more options and enhances overall market activity.
The exchange also hinted at future collaborations with Binance, suggesting that the BNB listing is only the beginning of a broader partnership aimed at benefiting both platforms and their users.
Incentives and Future Plans
BitoPro is running several reward campaigns to encourage trading activity. There are indications that future promotions may specifically involve BNB, appealing to users with diverse trading needs.
Beyond retail services, BitoPro is expanding into institutional and remittance solutions. The company’s founder recently revealed plans to offer blockchain-based clearing technology for cross-border payments, particularly targeting migrant workers in Taiwan.
This initiative aims to leverage cryptocurrency for faster and more affordable international money transfers.
Enhanced User Experience
In addition to new token listings, BitoPro has been focused on improving user experience. Its sister service, BitoEX, recently launched a mobile feature that allows users to purchase Bitcoin (BTC) and Ethereum (ETH) more conveniently.
Users can place orders via their smartphones and complete payment by scanning a barcode at FamilyMart convenience stores across Taiwan. This streamlined process makes buying major cryptocurrencies more accessible to the general public.
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Frequently Asked Questions
What is BNB?
BNB is the native cryptocurrency of the Binance exchange. It is used to pay for trading fees, participate in token sales, and access various services within the Binance ecosystem.
How can I buy BNB in Taiwan?
Residents of Taiwan can now purchase BNB on the BitoPro exchange using New Taiwan Dollars or USDT. The platform supports direct fiat on-ramp for local users.
Why did BitoPro list BNB?
Listing BNB allows BitoPro to meet user demand, increase trading liquidity, and diversify its offered assets. It also marks the start of a deeper collaboration with Binance.
Can I use BNB for purposes other than trading?
Yes, BNB has multiple use cases, including fee discounts on Binance, participation in exclusive token sales, and payment for certain services online.
Is BitoPro planning to list other major cryptocurrencies?
While not explicitly confirmed, the exchange frequently evaluates new tokens based on market demand and regulatory compliance. Users can expect further additions in the future.
Are there any transaction fees for buying BNB with TWD?
Yes, standard trading fees apply on BitoPro. Users should refer to the exchange’s fee schedule for detailed information before trading.