What is Binance?

Binance is a cryptocurrency exchange which is currently the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands . Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

Who is the founder of Binance?

Binance was founded in 2017 by Changpeng Zhao, a Chinese-Canadian developer who had previously created high frequency trading software. Which cryptocurrency coins are available on Binance? Binance allows international users to trade more than 500 cryptocurrencies, although only 52 are available to US customers.

How does Binance coin work?

Binance Coin can be used to pay trading fees on the Binance exchange. For example, if you trade another cryptocurrency for bitcoin on the exchange, Binance will charge you a 0.1% trading fee. That’s how the company makes money. However, if you use Binance Coin to pay the fee, they will reward you by charging a lower fee.

Is Binance a crypto exchange?

Fiat to crypto – Binance is largely known as a crypto to crypto exchange. That means that you can’t trade fiat money (like the US Dollar) on the platform for cryptocurrencies. You first need to use another platform like Coinbase that specialises in fiat to crypto exchange, then bring that cryptocurrency to Binance.