The biggest cryptocurrency exchange in the world based on trade volume, Binance, has formally opened a verified WhatsApp channel.
According to a statement, Binance’s cryptocurrency hub on WhatsApp will be the official channel, which Meta has confirmed.
One of the most widely used apps on smartphones is WhatsApp, which has over 2 billion active users worldwide.
The cryptocurrency platform is now among the first significant industry participants to have an official and verified channel on the messaging app, according to Binance’s release.
As a result, the channel’s establishment places the cryptocurrency exchange in a strong position to attract new users to the digital assets market.
Binance will use the WhatsApp channel to supplement and improve its Telegram and Discord social media accounts.
In addition to providing a venue for consumers to get real-time news, Binance’s presence on WhatsApp enables it to shield its users from fraud and false information.
The exchange will also use this channel to announce events and new product launches. Additionally, the channel will offer new users educational materials regarding smart contracts, decentralized finance, and blockchain. In a blog post, the exchange stated:
“Our goal is for this channel to provide a secure and reliable source of updates on all things Binance, crypto, and Web3,” the exchange wrote in a blog post.
According to Binance, being confirmed by Meta is an essential security measure, even though scammers have found success on WhatsApp and other channels.
It will assist users in protecting themselves from fraudulent accounts and people who frequently use the site to pose as Binance employees.
Numerous theft and fraud cases targeting Telegram and WhatsApp users have been reported in the cryptocurrency industry.
In 2023, hackers stole cryptocurrency from unwary victims by using phony WhatsApp and Telegram websites.