What Is Binance?
Binance is the world's largest cryptocurrency exchange by trading volume. As of August 2022, Binance handles a daily trading volume of $76 billion, serving over 90 million users globally. The platform is a trusted hub in the crypto ecosystem, offering access to:
- 350+ cryptocurrencies
- Thousands of trading pairs
- Tools to buy, sell, and store digital assets
Binance's ecosystem includes:
👉 Binance Exchange
- Binance Labs (venture arm)
- Launchpad (token launches)
- Trust Wallet (non-custodial wallet)
- Academy (educational resources)
- NFT marketplace
Who Founded Binance?
Binance was co-founded in China by:
Changpeng Zhao (CZ)
- Canadian-Chinese developer and CEO
- Former CTO at Blockchain.com
- Holds a degree from McGill University
Yi He
- Binance's CMO
- Leads Binance Labs
- Co-founded OKCoin (crypto exchange)
When Was Binance Launched?
Binance launched in June 2017 and became the top crypto exchange within 180 days.
Restricted Countries
Binance restricts access in:
- USA (uses Binance.US instead)
- Singapore
- Ontario (Canada)
- Partial restrictions in: China, Malaysia, Japan, UK, Thailand
👉 Note: Futures trading is unavailable in Germany, Italy, and the Netherlands.
Binance Fee Structure
| Tier | Spot Trading Fee |
|------------|------------------|
| Regular | 0.10% |
| VIP 9 | Custom rates |
Updates:
- Zero fees for BTC spot pairs (July 2022)
- Zero fees for ETH/BUSD (August 2022)
Leverage & Margin Trading
- Margin Trading: Up to 10x leverage
- Futures: Settled in USDT/BUSD
- Options: Crypto-settled derivatives
FAQ
1. Is Binance available in the US?
No, but Binance.US serves American customers with regulated services.
2. What’s Binance’s daily trading volume?
Over $76 billion (2022 data).
3. Are there fee discounts?
Yes—holding BNB reduces fees by 25%.
4. Can I trade NFTs on Binance?
Yes, via Binance’s NFT marketplace.
5. What’s the minimum leverage?
2x for most margin pairs.
6. How secure is Binance?
Uses 2FA, cold storage, and SAFU fund for user protection.
👉 Explore Binance’s advanced tools to maximize your crypto strategy.