What is Binance and how does it work?

Binance. Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

How to buy Binance coin?

Binance Coin can be bought on the Binance exchange using another cryptocurrency, or it can be bought on several other exchanges. How does Binance Coin work? Binance Coin can be bought or sold on Binance’s own exchange, or a handful of other exchanges that offer it.

Who is the founder of Binance?

Binance was founded by Changpeng Zhao, commonly known as "CZ", a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved its headquarters out of China due to China's increasing regulation of cryptocurrency.

What is Binance USD (BUSD)?

BUSD is not Binance’s first cryptocurrency. The exchange launched its own coin in 2017, but this time wanted to create a more stable cryptocurrency. Binance formed a partnership with Paxos in September 2019 to create its own stablecoin, called Binance USD (BUSD). The defining characteristic of this coin is that one BUSD is equal to one US dollar.