Binance Review: Development history and Services
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Binance is an excellent exchange for crypto investors. This exchange is headquartered in Malta. Its transaction fees are considered to be quite good. It is entirely reasonable to say that Binance is the broker with the lowest fees. At the same time, its platform can handle a large volume of transactions without experiencing any significant lag in transaction time. Binance does not offer currency transactions. But this exchange offers over 500 cryptocurrencies for customers to choose from.
Something about Binance operations
Binance is one of the largest cryptocurrency exchanges and has gradually become the most popular cryptocurrency exchange. This exchange was built with the simple purpose of providing users with the easiest to use virtual currency exchange. Binance was founded by Changpeng Zhao and Yi He in July 2017 in China. The two founders of Binance worked at OKCoin Börse. Furthermore, Changpeng is also a member of the Blockchain.com website since 2013.
Cryptocurrency exchange Binance has proven to be one of the most successful ICO projects today. This exchange has attracted more than $15,000,000 worth of investment capital from investors from July 1 to 20, 2017 to date. In return, investors receive 100,000,000 in virtual currency Binance Coin (BNB). This virtual currency is issued on the Ethereum blockchain (now moved to Binance’s own Binance Chain). The initial ICO price of a BNB is only about $0.115.
Binance has become the largest exchange in terms of the global trading volume. This broker achieved this unique position in just six months. Binance is currently in the leading role due to its simple and easy-to-use interface. In addition, this exchange can respond quickly to handle many transactions. Users can easily use Binance on a variety of language platforms. For example, English, French, German, Chinese, Spanish, Russian, Korean, Vietnamese, Italian, Turkish, Vietnamese …
Binance was founded in China, but it has moved its headquarters to Japan. The reason is that the Chinese government banned cryptocurrency trading in 2017. In 2018, Binance opened an office in Taiwan and announced a move to Malta. But in 2020, the Malta Financial Services Authority (MFSA) made it clear that Binance is neither officially registered nor regulated in the country.
According to the announcements, Malta is still the headquarters of Binance. In addition, the Company also has offices in many countries around the world. These include places like California (USA), London (United Kingdom), Paris (France), Berlin (Germany), Moscow (Russia), Istanbul (Turkey), Singapore, New Delhi (India) ), Kampala (Uganda) ), Manila (Philippines), Ho Chi Minh (Vietnam), Jersey and other locations in Asia. Binance has built branches in a total of more than 40 countries.
Services of Binance exchange
Binance attracts more than 15 million users and averages over $2 billion in transactions per day. The exchange has also developed several related products, including:
Binance Jersey. A European fiat-to-crypto exchange that allows trading of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), and Bitcoin Cash (BCH) for Euro (EUR) ) and British Pound (GBP), US Binance and other localized versions of the Binance exchange. Regulated arrangements of the Binance exchange are designed for specific markets with different regulatory climates.
Binance DEX. Binance’s Decentralized Exchange is built on the Binance Chain.
Binance JEX. Binance’s trading platform for crypto futures and options.
Binance Futures Contracts. Binance’s crypto derivatives platform allows you to trade futures with up to 125x leverage.
Binance Launchpad. Binance Cryptocurrency Crowdfunding Platform to Launch Top-Level Initial Exchanges (CEOs). Binance’s Launchpad was the first in the industry, and the exchange popularized the concept.
Binance P2P Trading. A peer-to-peer crypto exchange platform like LocalBitcoins or LocalCryptos supports payments via WeChat, AliPay, bank transfer, and QIWI.
Binance Cryptocurrency Loans. A feature that allows you to borrow crypto backed by your crypto assets.
Binance OTC. Over-the-counter trading desk for whales and other high-volume traders.
Savings Binance. The ability to use your crypto assets by borrowing them to earn interest. You can withdraw your money at any time.
Binance shares. With Binance’s staking feature, you can bet on specific cryptocurrencies and get an annual return of up to 16%. Supported cryptocurrencies are Ark, EOS, ARPA, TROY, Lisk, LOOM, Tezos, KAVA, THETA, and more.
Binance Fiat Gateway. A fiat gateway allows you to buy cryptocurrencies in your local currency (nearly 40 fiat currencies are currently supported).
Binance Chain and Binance Coin (BNB). Community-driven blockchain ecosystem with its token (BNB) and decentralized exchange (DEX).
Binance USD (BUSD) and stablecoin Binance GBP. These broker-regulated stablecoins are issued in partnership with Paxos Trust Company.
Binance Academy. A freely accessible learning platform for blockchain and crypto educational resources.
Binance Charity. A non-profit foundation dedicated to promoting blockchain philanthropy and sustainable global development.
Binance Info. An open-source crypto currency encyclopedia.
Binance Labs. Binance’s Infrastructure Impact Fund and Blockchain Projects Acceleration Initiative.
Research Binance. Institutional research platform that conducts analyzes for investors in the crypto space.
Trusted wallet. An official, secure and decentralized wallet from Binance.
Binance Cloud. Enterprise Cryptocurrency Exchange Solution for Cryptocurrency Companies.
Binance Card. A crypto payment card can be used as a payment option for everyday purchases, just like a regular bank card.
In 2019 and 2020, Binance acquired India’s largest cryptocurrency exchange WazirX, Chinese Dapp analytics platform DappReview, and the most popular crypto market data aggregator, CoinMarketCap.
In the future, Binance has ambitious goals of transforming itself into a decentralized autonomous organization (DAO), enabling cryptocurrency trading for over 180 fiat currencies, and fully authorizing the Binance Chain and Binance Coin (BNB).
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