Exchange Woos U.S. Users With Web3 Domains

    Binance News: The U.S. arm of the world’s largest crypto exchange, Binance.US, has recently announced its partnership with Web3’s noted domain name registrar Unstoppable Domains to provide branded “.BinanceUS” addresses for U.S. customers. With this, users can now choose their preferred digital identities to easily send and receive cryptocurrencies instead of using conventional alpha-numeric wallet addresses.

    Binance.US Offers Branded Web3 Domains

    With the new service, customers will be able to create “.BinanceUS” domains, giving them unique identities for their cryptocurrency wallets that are simple to comprehend and can be used in the Binance.US app to buy, sell, and transfer digital assets.

    Read More: First Republic Bank Crisis Deepens As US Govt. Refuses Intervention

    According to the official statement, the .BinanceUS domain names will soon be made available entirely through the exchange’s app; and it’s for the first time, Unstoppable will provide customers with two-digit domain names like “00.BinanceUS” or “99.BinanceUS”. Additionally, it already provides two-letter domains such as “ok.BinanceUS”.

    BinanceUS Addresses To Start From $10

    Furthermore, under the new partnership, customers of Unstoppable Domains will be able to withdraw cryptocurrency to a variety of domain addresses, including “.crypto,” “.nft,” and “.x” domains, using Binance US. According to official statements released, users will be able to purchase “.BinanceUS” domain names for as little as $10.

    While, unlike its rival ENS which mints all its domain names on the Ethereum blockchain, the BinanceUS domain names will be created on the Polygon network. Considering there is a cost associated with using gas on Ethereum, ENS names can turn out to be expensive. However, as per Unstoppable Domain’s website, their domain addresses do not have any gas fees associated with it.

    In light of this Binance news, the exchange’s native cryptocurrency BNB, witnessed a drop of roughly 0.41% in the past one hour. As things currently stand, the price of BNB is exchanging hands at $329.66 and boasts a market cap of roughly $51 billion.

    Also Read: Circle Unveils New Protocol To Disrupt Stablecoin Market, USDC Set To Overtake USDT?

    Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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