- Binance Wallet users can now trade directly using exchange balances across Ethereum, Solana, Base, and BNB Chain.
- Feature requires KYC and a non-custodial wallet, with purchased tokens sent directly to user-controlled addresses.
Binance Wallet has released a new feature that makes traders’ lives more convenient: “CEX-to-DEX trading.” This feature allows users to trade directly from their Binance Wallet using their account balance on Binance Exchange.
So, without the hassle of sending assets here and there, users can directly transact on various networks, including Ethereum, Solana, Base, and BNB Smart Chain.
Previously, you had to move assets from your exchange account to your personal wallet before you could trade on DEX, but now you can skip that process. Simply open Binance Wallet, select the token you want to buy, and the transaction is processed directly from your exchange balance.
This not only saves time, but also avoids wrong transfers or additional fees that usually occur when transferring across wallets.
Eligibility and Bonus Perks to Watch For
However, there are some important notes for those of you who want to try this feature. First, users must have completed the identity verification process or KYC. Second, only non-custodial wallets from Binance Wallet can enjoy this feature. After a successful transaction, the token will go directly to the user’s personal wallet address, not stored on the exchange anymore.
Uniquely, to celebrate the launch of this feature, Binance is giving away free BR (Bedrock) tokens to users who make a minimum transaction of $50 using their Spot or Funding balance via Binance Wallet. The prize is quite attractive, getting 100 BR, which is equivalent to $10.
New Memecoins Join the Spotlight
On the other hand, Binance is not stopping at just the wallet feature. CNF reports that the platform has just added four new memecoins to their Spot Market. The tokens are MUBARAK, BROCCOLI, TUT, and BANANA.
But don’t go crazy buying them right away. Binance has given the four tokens a “seed tag” label—meaning, these tokens are considered high-risk. Every 90 days there will be a reassessment to see if they are still worth trading.
Binance Secures $2 Billion Fund From Abu Dhabi’s MGX
Furthermore, there is a large capital injection that has entered Binance. MGX, an Abu Dhabi fund focused on artificial intelligence technology, has injected $2 billion into Binance.
The funds were paid in the form of stablecoins, although the type was not disclosed in detail. This investment aims to combine AI, blockchain, and finance into a more integrated ecosystem.
Fake Binance Agents Target Over 130 Victims
However, behind all the achievements and innovations, the crypto world is still a fertile ground for fraudsters. A few days ago, more than 130 Australians were reported to have become victims of fraud under the guise of Binance.
The method is quite clever, where the fraudsters pretend to be official representatives of Binance and say that the victims’ accounts have been compromised. They then direct the victims to transfer funds to a “trust wallet” which turns out to be controlled by the fraudster himself.
What’s troublesome is that the stolen funds were immediately transferred to many different wallets, making the tracking and recovery process even more difficult.
Fortunately, cooperation between the National Anti-Fraud Center, the Australian Federal Police, and other international agencies managed to identify the victims through encrypted messages. However, the fate of the missing funds is still uncertain.
