About Binance

What Is Binance?

Binance stands as the largest cryptocurrency exchange globally, boasting a daily trading volume of $76 billion on its platform as of August 2022, and serving over 90 million customers worldwide. Renowned for its reliability and integrity within the crypto community, Binance offers users a platform to buy, sell, and securely store their digital assets. With a vast selection of over 350 cryptocurrencies listed and thousands of trading pairs available, Binance has solidified its position as a trusted leader in the crypto space. Additionally, the Binance ecosystem encompasses various entities including Binance Exchange, Labs, Launchpad, Info, Academy, Research, Trust Wallet, Charity, NFT, and more.

Who Are the Binance Founders?

The multinational enterprise was co-founded in China by Changpeng Zhao and Yi He. Changpeng Zhao, also known as CZ, is a Chinese-Canadian developer and business executive who serves as the company's CEO. He attended McGill University in Montreal and boasts a successful entrepreneurial background. His previous roles include leading the Bloomberg Tradebook Futures Research & Development team, founding Fusion Systems, and serving as the Head of Technology at Blockchain.com.

Yi He holds the position of Chief Marketing Officer (CMO) at Binance and heads Binance Labs, the company's venture capital division. Prior to her tenure at Binance, Yi served as Vice President at a prominent mobile video technology company, Yixia Technology, and co-founded the digital asset exchange OKCoin.

When Did Binance Launch?

Binance was introduced to the market in June 2017 and achieved the status of the world's largest cryptocurrency exchange within just 180 days.

Binance Restricted Countries

According to the Binance Terms of Use, access to the platform is restricted in certain locations such as the United States, Singapore, and Ontario (Canada). Additionally, regulatory constraints may limit usage or features in countries like China, Malaysia, Japan, the UK, and Thailand. Futures and derivatives products are unavailable in Germany, Italy, and The Netherlands. In September 2019, Binance launched a separate platform, Binance.US, specifically for clients in the United States.

How Much Are Binance Fees?

The platform offers a user-friendly experience and competitive pricing, featuring a wide array of transaction options and sophisticated trading tools tailored for seasoned investors. Fees are structured on a tiered system, ranging from regular users to VIP 9. Regular users are subject to a 0.10% maker-taker fee for spot trading. In July 2022, Binance introduced zero-fee trading for BTC spot trading pairs, followed by the ETH/BUSD pair in August of the same year.The platform offers a user-friendly experience and competitive pricing, featuring a wide array of transaction options and sophisticated trading tools tailored for seasoned investors. Fees are structured on a tiered system, ranging from regular users to VIP 9. Regular users are subject to a 0.10% maker-taker fee for spot trading. In July 2022, Binance introduced zero-fee trading for BTC spot trading pairs, followed by the ETH/BUSD pair in August of the same year.

Is It Possible To Use Leverage or Margin Trading on Binance?

Traders have the option to borrow funds and engage in margin trading through Binance Margin, enabling them to trade cryptocurrencies with leverage of up to 10X. Additionally, users can utilize derivative products like Binance Futures, settled in USDT, BUSD, or other cryptocurrencies, as well as Binance Options, to amplify their trading positions.