Binance announces verified WhatsApp channel for real-time crypto updates

Binance, the world’s largest crypto exchange by trading volume, has officially launched a verified channel on social media platform WhatsApp.

The official channel, verified by Meta, will be Binance’s crypto hub on WhatsApp, according to an announcement. WhatsApp, a platform with a global user base of over 2 billion active users, is one of the most popular apps for smartphone users.

Binance said in its announcement that the move makes the crypto platform one of the first major industry players to have an official and verified channel on the messaging app.

Accordingly, the creation of the channel puts the crypto exchange in pole position towards bringing more people to the digital assets space. Binance will use the WhatsApp channel to enhance and complement its other social media channels – Telegram and Discord.

Being on WhatsApp allows Binance to not only protect its users against misinformation and scams, but also offers a platform from which they can access real-time news. The exchange will also use this channel to provide updates on product launches and events.

The channel will also provide educational resources to new users, including about blockchain, decentralized finance, and smart contracts.

“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.

While WhatsApp and other platforms have proved fertile ground for scammers, Binance says being verified by Meta is a crucial layer of security. It will help users guard against fake accounts and individuals often using the platform to impersonate Binance staff.

The crypto market has witnessed numerous cases of theft and fraud targeted at Telegram and WhatsApp users. In 2023, hackers used fake Telegram and WhatsApp websites to steal crypto from unsuspecting victims.