Binance, the world’s largest cryptocurrency exchange, was established by Mr. Changpeng Zhao (CZ) in 2017. However, the company started its practical operations in early 2018 and obtained the global highest trading volume.
History
Changpeng Zhao is a Canadian-Chinese businessman who founded Fusion System in 2005 in Shanghai, a high-frequency trading system for brokers, Blockchain.info OKCoin, and some other projects prior establishment of Binance.
The company established its office in China, but the Chinese government banned cryptocurrency trading in September 2017, and ultimately, the company shifted its headquarters server to Japan. The company grew as one largest crypto exchanges till January 2018, with a market capitalization of $1.3 billion.
Later, the exchange also signed an agreement with Malta, Bermuda, and Jersey governments to grow the business globally. In January 2019, Binance partnered with Simplex to access cryptocurrency purchases through debit and credit cards. Additionally, in February 2022, the company achieved a $200 investment in Forbes and later registered its legal entity in Italy on May 27, 2022.
Furthermore, Binance has also launched two cryptocurrencies, BNB and BUSD.
The Major Binance Products:
Exchange:
The exchange allows the services to trade, buy and hold above 350 cryptocurrencies. Almost 90 million registered users are trading with the lowest transaction fees of less than 0.10%.
Academy:
The Binance provides a facility to learn about crypto, particularly improving blockchain knowledge through completing quizzes. It also offers free crypto after completing quizzes to encourage learning.
Binance Live:
It also gives live services of trade, Gamefi watchlist, and others.
Charity:
The exchange also donates charity to the affected areas worldwide, fulfilling social responsibility. The aim is to utilize the power of blockchain to lower poverty, fight injustice and protect both human and environmental health.
Card:
There is also a Binance Card facility on the platform, and users can avail of various discounts at Binance card transactions.
Labs:
Binance invests in building technical teams to develop decentralized web systems and create new inventions.
Launchpads:
Provides latest updates about launching new tokens and offers investment opportunities.
Binance Research:
All stakeholders in the digital asset market have access to Binance Research’s institutional-grade analysis, in-depth insights, and unbiased information.
Trusted Wallet:
The exchange offers a secure wallet to purchase, hold, amass NFTs, trade, and earn cryptocurrency. Join the more than 25 million users of Trust Wallet.
NFT:
It provides an excellent platform to invest in NFTs.
Binance Pay:
Binance Pay is a contactless, international, and secure bitcoin payment system. Purchase cryptocurrency or send it to loved ones anywhere in the world.
Binance Gift Card:
The users can send crypto through a Binance gift card, for example, gift cryptocurrencies using your referral link and one of our 30+ themed themes.
Salient Features of Binance:
- It provides high performance with the capability to process 1,400,000 orders per second.
- The company possesses high liquidity due to ownership of abundant partners and resources.
- It has safety and stability through multi-tier and multi-cluster system architecture.
- It owns multi-coin support of BNB, ETH BTC.
- The company’s all devices are secured through Andriod, iOS, Mobile Web, Web, macOS, and Windows.
- The exchange gives multilingual support through FAQs in multi-languages.
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