What is Binance?

Binance is one of the largest and most well-known cryptocurrency exchanges in the world. Founded in 2017 by Changpeng Zhao (CZ), Binance has quickly become a leader in the digital currency market, offering a fast, secure, and innovative cryptocurrency trading platform.

The exchange was originally registered in China, but due to regulatory pressures, the company has moved to several different countries, building a global presence.

What makes Binance so popular?

1. Large selection of cryptocurrencies

Binance offers hundreds of cryptocurrencies for trading — from the most famous ones like Bitcoin (BTC), Ethereum (ETH), to new and lesser-known tokens.

2. Low fees

Binance’s trading fees are very competitive, and if you use their own token BNB (Binance Coin), you get additional discounts.

3. Platform for beginners and professionals

It has a simple interface for beginners and advanced tools for experienced traders, as well as a mobile application that is among the most used in the crypto world.

4. Security and innovation

Binance is constantly investing in security and introducing new features such as staking, NFT market, futures trading, DeFi projects and more.

5. Binance Smart Chain (BSC)

This is Binance’s own blockchain that enables the development of decentralized applications (dApps) and offers cheaper and faster transactions than Ethereum.

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Controversies and regulations

Although Binance is one of the largest crypto platforms, it is not without controversy. In several countries, including the United States, it has had problems with regulation and licensing. Because of this, Binance had to create Binance.US — a separate platform for American users, which complies with local laws.

Binance and the future

Binance strives to become more than just a regular crypto exchange. With the development of BNB, their own blockchain infrastructure, NFT marketplace, educational platforms, and partnerships with major companies, Binance is already a driving force in the Web3 world. Many see Binance as the “Amazon of the crypto world.”