William Israel Biolena

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Binance RUNE vs BingX RUNE

THORchain's native currency, RUNE, is the backbone of the THORchain platform, a decentralized cross-chain liquidity network that allows users to trade and exchange digital assets without the need for centralized intermediaries. The RUNE token plays a crucial role in the platform's governance, liquidity, and security mechanisms.

RUNE operates as a staking and liquidity token, meaning that users can earn rewards by holding and staking RUNE in their wallets. These rewards come in the form of transaction fees and liquidity incentives, making RUNE a valuable asset for those looking to earn passive income through the THORchain platform. Additionally, RUNE is used to vote on proposals and make decisions regarding the development and governance of the THORchain ecosystem, giving token holders a voice in the direction of the project.

The THORchain platform operates as a decentralized autonomous organization (DAO), meaning that it is powered by its community and operates independently of central authority. RUNE, as the native token, is the key to the platform's security and integrity, ensuring that the network remains autonomous and operates according to the rules set by its community. Through its unique combination of staking, liquidity, and governance features, RUNE is an essential asset for those looking to participate in the THORchain ecosystem.

Buying THORChain (RUNE) on Binance vs BingX

Trading Fees
Cryptocurrency trading takes place on exchanges similar to stock exchanges, but only for cryptocurrencies. Exchanges usually have a tiered fee structure based on a user's 30-day trading volume. Understanding these fees is crucial for maximizing profits.

Exchange fees for cryptocurrency can vary greatly between platforms. Some charge a flat fee for all trades, others a percentage of the trade amount, and some offer discounts for memberships or large volumes.

Binance imposes a 0.1% maker fee and 0.1% taker fee for most trades, with discounts available for BNB holders or high-volume traders. BingX charges a 0.075% maker fee and 0.075% taker fee for most trades.

See the table below for a summary:
Exchange/ Fees
Binance
BingX
Maker Fee
0.1%
0.075%
Taker Fee
0.1%
0.075%

Please keep in mind that fees are subject to change and to check the current fee schedule of the exchange you plan to use.

Services and Features Offered
Binance offers a versatile trading experience with options to trade from desktop, smartphones, or iPads and strong security measures to protect users' assets and information. It is not available in the US but has a partnership with Binance.US for American investors.

BingX, on the other hand, is a global financial institution with services in North America, Canada, EU, Hong Kong, and Taiwan. It offers financial services like lending, borrowing, staking, and crypto trading, with features like referral program, trading competition, and copy trading. The copy trading feature allows users who want to buy Hashflow (HFT) on BingX to follow the trades of experienced traders to maximize profits passively.

Both Binance and BingX differ in services and features, and the best choice will depend on the user's needs and preferences. It's crucial to thoroughly research both platforms and consult with financial advisors before making any investment decisions.

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Bitfinex HFT vs BingX HFT

What is Hashflow (HFT)?
Hashflow is an interoperable decentralized exchange (DEX) offering zero slippage and protection from miner extractable value (MEV). It offers commission-free trades and executes price quotes at their displayed prices for seamless cross-chain trading without the need for bridges or synthetic assets.

How does Hashflow work?
Hashflow enables cross-chain asset exchange without the need for external bridges, ensuring protection from slippage and MEV during trades on one or multiple chains. The platform uses a hybrid Request for Quote (RFQ) engine that fetches off-chain quotes from market makers managing on-chain liquidity. These cryptographically signed quotes ensure guaranteed prices, immune to manipulation by MEV bots.

Hashflow also safeguards against slippage caused by cross-chain MEV that may occur during price movement between validation on the source chain and transmission to the destination chain.

What is the HFT token?
The HFT token serves as the official token for both the Hashflow protocol and the gamified governance platform, Hashverse. By staking HFT, users can unlock access to various features within the Hashflow ecosystem.

Buying Hashflow on Bitfinex vs BingX

Trading Fees
Cryptocurrency trading occurs on exchanges that are similar to stock exchanges, but exclusively for cryptocurrencies. To maximize profits, it is essential for traders to understand the tiered fee structures that exchanges use, which are typically based on a user's 30-day trading volume.

The fees for cryptocurrency trading on exchanges can vary greatly. Some exchanges charge a flat fee for all trades, while others charge a percentage of the trade amount. Some platforms offer discounts for memberships or for high trading volumes.

Bitfinex has a fee structure of 0.1% for both makers and takers on most trades. However, users who hold the platform's native token (LEO) or who trade in large volumes can receive discounts. BingX has a lower fee structure, with maker and taker fees as low as 0.075% on most trades.

Please see the table below for a quick overview:

Bitfinex
BingX
Maker Fee
0.1%
0.075%
Taker Fee
0.1%
0.075%

It's important to keep in mind that these fees are just examples and can change over time. Hence, it's advisable to check the current fee schedule for the exchange in consideration and compare fees to find the most competitive rates.

Services and Features Offered
Bitfinex is a digital asset trading platform that was founded in 2012. It offers trading for a variety of cryptocurrencies, including Bitcoin, Ethereum, and others. The platform is known for its advanced trading features, such as margin trading and liquidity swaps. Bitfinex has faced controversy in the past, including a 2018 investigation by the New York Attorney General over the loss of $850 million in customer funds. Overall, the platform is well-regarded by many in the cryptocurrency community, although others remain cautious due to its history of controversy.

On the other hand, BingX is an international digital financial institution that offers services in various countries like North America, Canada, the EU, Hong Kong and Taiwan. BingX offers financial services such as lending, borrowing, staking, and buying and selling of cryptocurrencies. They have a referral program, a trading competition, and a copy trading feature which enables users who don't have the luxury of time or are new to crypto to choose their trader of choice and follow their trade(s).

In summary, both Bitfinex and BingX are slightly different in terms of services and features, and the best option will depend on the user's needs and preferences. It is essential to research both platforms thoroughly and consult with financial advisors before making any investment decisions.