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For STEEM to survive as crypto-currency, we need to have exchanges offering STEEM on an open exchange to find it's true market value. If we don't have this, then STEEM is no better any other self issued token or commodity. You don't know the true worth of something if no-one able to buy it... more likely, what you have is worth zero!

So, with Poloniex shutting down STEEM trading... it is a good time to focus on the exchanges that DO offer STEEM pairings. The second largest STEEM exchange in terms of volume and liquidity is the world spanning Binance. A relatively trusted and secure exchange in the Wild West of cryptocurrencies...

Anyway, Binance offers STEEM pairings with Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) with the ability to trade directly (or at market price) against these cryptocurrencies. With cost free transactions (and low maker/taker trading fees at 0.1% and 0.2% respectively), and very low withdrawal fees (0.01 STEEM) Binance is a great place to exchange your hard earned STEEM for different currencies (or as the bridging point to exit into the fiat system, bouncing through Binance Jersey).

Now, why would you want to sell STEEM... isn't the point of earning STEEM to hold it until it moons? Well, there is wisdom in diversification... STEEM might succeed or it might not... the point is not to have all your eggs in one basket! Is selling STEEM evil and betrayal of the STEEM ecosystem? No, a free market can't be based upon the "morality" of holding onto bags. Selling is not inherently evil, there is no way otherwise to find the true market value of an asset if people are "prevented" from selling... that is what leads to a bubble!

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So, with all of that guff out of the way... it is time to start talking about the thing that brought you to reading this post in the first place... the promise of FREE MONEY!

BNB is the native token of the Binance Chain upon which Binance hosts its DEX (decentralised exchange), however on the centralised part of Binance it is used to take part in contests and voting and also to reduce fees. So, very much a utility type token. At the moment, it sits a bit above 15 USD per BNB but earlier in the year it was sitting significantly higher!

So, Binance is offering a lottery with 2703 winners for NEW account registrations with Binance (you can register using my referral link, Binance). Now, keep in mind that you need to register and then make a valid (filled) trade... of which STEEM can be a good simple one (due to the zero transaction fee and fast confirmation time).

In a bit less than 7 days, there will be a lottery with 3 lucky winners taking 100 BNB and 2700 others taking 1 BNB. Note that this is NOT for existing Binance accounts.... if you already have an account, just sit aside and let the noobs have their fun... or be a dick and create a million accounts and try to sweep the lot. I suggest the former...

The full rules and details can be found here (or if you are too lazy, I will cut and paste here): https://launchpad.binance.com/en/lottery/4b43b3fcb83747df8f16d29319c9dd3f

Activity period: 2019/10/10 08:00 AM to 2019/10/17 08:00 AM (UTC)

Prizes: Total prize pool: 3,000 BNB

2,700 lucky winners will each win 1 BNB
3 grand prize winners will each win 100 BNB
Activity details:

Register and make a trade
From 2019/10/10 08:00 am to 2019/10/17 08:00 am (UTC), any user who registers a new Binance account and makes a valid trade (order is filled) will earn a chance to win BNB.
Ticket claim
From 2019/10/17 08:00 am to 2019/10/18 08:00 am (UTC), all new users who complete a trade can claim a lottery ticket.
Lottery draw
A lottery draw will be conducted on 2019/10/18 at 08:00 am (UTC).
2,700 lucky winning tickets will be selected at random and results will be announced.
Three grand prize winners of 100 BNB each will be selected at random and broadcast live on social media channels.
Results
Results of the lottery draw will be announced on 2019/10/18 at 10:00 am (UTC).
BNB rewards will be distributed within 72 hours after the competition ends. You will be able to login and see your rewards via > Wallet > Distribution History.
Users are not eligible to earn multiple prizes.
Sub-accounts and master accounts will be treated as one account when participating in this activity.
Terms & Notes:

Binance reserves the right to cancel or amend the Activity or Activity rules at our sole discretion.
Risk warning: Cryptocurrency trades are subject to high market risk. Binance is not responsible for any direct, indirect or consequential losses as a result of your trades. Please make your trades carefully.

NOTE: It is a little unclear to me if you need to complete KYC or not... I don't think so, but I'm not sure!

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