What is the scope of starting a cryptocurrency exchange like Binance?

1. What is the scope of starting a cryptocurrency exchange like Binance? In the recent scenario, a cryptocurrency is widely used among business people globally. The cryptocurrency is a virtual currency used over the cryptocurrency exchange for digital transactions. Cryptocurrencies leverage blockchain to achieve decentralization, transparency, and immutability. Bitcoin was issued as the initial cryptocurrency in 2009, and following bitcoin, more than 5000 altcoins have been built, and numbers are still going up. Current Market Scenario The market cap of cryptocurrency is categorized by its volume Mid-cap range from $1 billion and $10 billion, the smallest market cap has a range below $1 billion and the volume of the blockchain technology market will grow to more than $2 billion. The largest companies like Circle Internet Financials, Coinbase, 21 Inc., Ripple, BitFury Group, Blockstream are using blockchain technology. The market cap of Bitcoin is $733,829,657,793 presently, there are more & more cryptocurrency are emerging frequently. Though cryptocurrency has widely adopted globally, even governments and banks started linking with the crypto exchanges in a few crypto-friendly nations. Future Scope The Bitcoin price is exponentially increasing with demand. The companies like Starbucks, Microsoft, and ICE (International Exchange) have an agreement, one of the good implications that retailers started accepting cryptocurrency as a payment method. This enables Starbucks consumers to pay with Bitcoins. It indicates that there is a high probability of dramatic changes in the direction of cryptocurrency in the upcoming days. The integration of new technologies into the banking systems may drive the costs of cryptocurrency to new elevations. Some countries are already working on the implementation of cryptocurrency as their alternative currency. Many countries are testing the mechanism to control and provide the legal authority for such digital currency. Here we will see a popular Cryptocurrency exchange Binance and its growth here Binance is currently a global cryptocurrency exchange platform that serves the crypto trading business for millions of users and also increasing day by day because of the high popularity of cryptocurrency. Changpeng Zhao is a Chinese-Canadian business executive, who is the Founder and CEO of Binance was founded in the year of 2017.

2. Binance has its cryptocurrency named "Binance Coin (BNB)". It also acts as a decentralized exchange platform that works based on P2P protocols which allow the user to exchange their digital currencies directly with the person who receives them from another end. Binance has the highest trading volume of USD 46,569,936,445 and generates high ROI. Binance Exchange supports nearly 240 Cryptocurrencies on their trading platform. Summing UP Starting a Cryptocurrency Exchange would be the best business plan in 2021! The Cryptocurrency and Blockchain-based solutions are at an advanced level, letting the crypto to the next level in the financial system. Low fees and instant trading make these cryptocurrencies very engaging for all types of investors. A fully secured transaction is the one-the best quality that enables the secured transaction from peer-to-peer. If you are in the idea of starting a cryptocurrency exchange like Binance, you can start your cryptocurrency exchange with white-label Binance Clone Script available on markets. Choosing the right place to build your Binance Clone is an important part of starting a crypto exchange.