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Binance, the world’s largest crypto exchange, has proved infallible despite the continuous fud spread likely to harm the exchange’s reputation. The Funds can be traced back to as early as 2022 when one of the largest crypto exchanges, FTX, collapsed after undergoing a bank run. It was later revealed that FTX founder and former chief executive officer CEO Sam Bankman Fried allegedly used customer deposits to fund his lifestyle and give enormous political donations. Since then, Binance’s CEO, CZ, has been in the limelight as regulators go after his exchange for intensive regulatory scrutiny. Despite the fud, the company has retained its position by trading volume as the largest crypto exchange. The exchange continuously lists new projects, and this BTC fork could be next.
Is Binance Safe?
Binance is a centralized cryptocurrency entity that offers a platform for buying, selling, and storing cryptocurrencies. The exchange is considered among the safest centralized exchanges and has had a reputable track record despite floating fud and unconfirmed rumors spread by regulators and anti-CEX crypto enthusiasts.
The cryptocurrency firm claims to have an insurance fund of close to $1 billion that will be used to cater for customer deposits in case the exchange goes under for one reason or another. The firm also continuously published its audited proof of reserves to show that customer deposits are safely stored in different wallets to mitigate risks. The exchange is known for listing credible projects; this BTC fork could be next.
Will Bitcoin Spark list on Binance?
To list new cryptocurrency projects, Binance takes into consideration several factors. One of the factors is community interests sparked by members of a designated crypto project. Projects with massive utility have higher chances of being listed on the exchange, supporting their adoption. Bitcoin Spark will likely list on Binance due to its utility and potential surge.
Bitcoin Spark is initially developing with an ongoing ICO that distributes BTCS tokens in phase 8. Each token is available for investors to purchase at a discounted rate of $3.25, accompanied by a 6% bonus and a guaranteed 326% return at the launch price of $10.
Bitcoin Spark has the potential to disrupt how the DeFi arena is functioning. One of the most significant pillars of the new entrant is its revenue generation strategies. The platform will embed revenue generation methodologies by introducing additional profitable services for Web3 developers. The revenue generation strategies will expand the usability of the network, increasing network participation and, therefore, driving crypto adoption to greater heights.
The platform’s primary source of income will be generated by processing power rentals to third-party customers. Processing power is in high demand, especially for individuals and companies conducting complex virtual computational tasks such as completing resource-deficient simulations and video rendering. The Bitcoin Spark miners will provide the processing power through the platform’s mining layer while mining BTCS. 3% of the revenue generated from this means will belong to the Bitcoin Spark developers, and the rest will be shared with miners through the mining pools.
The secondary income source will offer Web3 brands and marketing agencies an audience to market their products and services. The Bitcoin Spark developers will convert unused sections of the platform’s website and the mining application to create advertisement slots that interested parties purchase in BTCS tokens for an algorithmically determined period and cost. The revenue from this stream will be equally distributed between miners and the Bitcoin Spark team.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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