“The most important thing for users to note is that BTCB and USDT issued on Binance Smart Chain will be available for exchange on the Vertex peer-to-peer market. An added advantage for traders on our platform is that they can boost profits due to the lower fees.” – Alessandro Pecorelli, CTO of Vertex.

What is Binance Smart Chain?

Binance Smart Chain, also called BSC is a blockchain issued by Binance. It is not to be confused with Binance Chain, which is a different blockchain! Eventhough it is issued by Binance, BSC runs independently from Binance. BSC has been launched late 2020 and has since then at times conducted more transactions than Ethereum and was the reason for the price jump of the BNB coin as BNB is required to pay for gas and demand soared. BSC is 100% compatible with Ethereum, meaning the same smart contracts work on both blockchains and most wallets start to support both blockchains.

Why is Vertex launching Binance Smart Chain on Vertex?

To put it simply, BSC is fast and cheap. Much faster and cheaper than Ethereum at time of writing. This is not limited to BNB (Binance Coin) transactions only as almost every major coin is issued by Binance on the BSC as a wrapped coin as well. This means, you can easily transfer Bitcoin, Ethereum, USDT or any other major crypto from and to Vertex almost instantly for less than $1.