$BNB
What is Binance?
Binance is one of the worlds largest and most trusted cryptocurrency exchanges. It was founded in 2017 by Changpeng Zhao, also known as CZ. Originally launched in China, the company quickly relocated its operations internationally due to growing crypto regulations in China. Binance became the largest crypto exchange by trading volume within a year of its launch.
The platform offers a wide range of services for both beginners and experienced traders. These include spot trading, margin trading, futures, and options. Users can also take advantage of Binance Earn, which allows them to earn passive income through savings, staking, and yield farming.
Binance supports hundreds of cryptocurrencies, including popular coins like Bitcoin (BTC), Ethereum (ETH), and its own native token, BNB (Binance Coin). BNB plays a key role in the Binance ecosystem. It is used for getting trading fee discounts, paying transaction fees on Binance Smart Chain (BSC), and joining token sales through Binance Launchpad.
In addition to trading, Binance offers other services such as:
Binance NFT Marketplace for digital collectibles
Binance Card, a crypto debit card
Binance Pay for crypto payments
Binance Academy, a free educational platform for blockchain learning
To address security and compliance, Binance follows strict KYC (Know Your Customer) policies and uses advanced security features like two-factor authentication (2FA). In 2019, Binance experienced a hack but refunded all users through its SAFU fund (Secure Asset Fund for Users).
Due to regulatory challenges in some countries, Binance created Binance.US, a separate platform tailored for U.S. customers, following local regulations.
Binance operates globally in more than 180 countries and supports various languages. It continues to expand its reach, innovate in blockchain technology, and drive global crypto adoption.
Overall, Binance is not just a trading platformits a complete crypto ecosystem offering a wide range of services and opportunities for users around the world.