More on JumpToken (JMPT): Why Binance Smart Chain?
A lot of innovative projects feel drawn towards leveraging blockchain technologies and cryptocurrencies these days — however, that’s far from the final decision teams have to take. Crypto infrastructures have developed fantastically in the last decade, and the choice of technologies is endless. Which network do you go for, when each one has its own advantages?
The JumpTask team explored many options and decided to go with Binance Smart Chain to build JumpToken (JMPT) on — which means you’ll need to use a BSC network-supporting wallet to sign in to JumpTask. In this article, we’ll be getting into the reasons why we picked this network instead of its alternatives and what benefits it provides to our users and us.
What Binance has to offer
First and foremost, Binance has a massive user community. Initially launched in 2017, it only needed a year to attract 7+ million users and become the world’s largest exchange in terms of trading volumes! As of now, this number has grown to a whopping 28+ million active users — which naturally makes Binance a great place to launch new initiatives that target a global audience and not just a specific segment or region.
A massive user base and colossal trading volumes allow Binance to offer really competitive fees — and that’s far from all its benefits. Not only can users now trade more than 300 cryptocurrencies on the platform, but they can also earn by staking their assets or participating in Binance’s referral program!
An app for everything
Another reason Binance is great for reaching wide audiences is the fact that it has a free app that’s not only sturdy and professionally made but also available on various operating systems (Windows, macOS, Linux, Android, and iOS). In fact, there have already been 10,000,000+ downloads of the app from Google’s Play Store alone!
Binance users can also instantly send or receive crypto worldwide with zero fees with Binance Pay and use a custom-made Binance authenticator on their mobile devices (Android or iOS) for multi-factor verification, thus quickly and easily boosting their safety. Of course, this isn’t the only safety feature Binance offers: it has also introduced KYC, a unique Anti-Phishing Code to keep the platform and its users secure, and even an Insurance Fund to protect bankrupt traders.
Money handling made simple
While managing and using their cryptocurrencies might seem easy for those who have been spending time in the crypto world for a while now, it might not be so simple for newbies. Since introducing more people to the scene and enabling them to explore cryptos with little to no risk involved, JumpTask is very excited to tell you Binance has its own debit Visa card — and it can be a great help for those who aren’t yet used to handling non-fiat money or those who are simply looking for an extra dash of convenience.
All its holder has to do is top-up their card by transferring crypto from their spot wallet to their funding wallet — and pick where they’d like to spend it. The Binance Visa card is accepted by 60,000,000+ merchants worldwide, and you can even use it at the ATM! No fees (administrative or processing) are involved, and the card itself is issued free of charge.
With the free card and user-friendly app, managing your funds with Binance is easier than ever — which is exactly what JumpTask wants to offer to its users.
In time, the team plans to get JMPT listed on the Binance exchange. This would open up the world of possibilities: our users could exchange JMPT to and from other currencies easily, no matter where they’re from, and perhaps even staking it in the future. As of now, we would, of course, advise you to HODL yours — and we’ve got an entire article explaining why!
Keep your eye on JumpTask — we promise exciting days are ahead.