Our third blog article is about Binance, which is the largest cryptocurrency exchange in the world. Users can trade 24/7 on their platform.
Binance was founded in 2017 when the cryptocurrency markets were still pretty young. Their CEO was Changpeng Zhao, better known as “CZ”. Since 2023, their new CEO is Richard Teng.
Binance serves over 310 million customers worldwide and offers the possibility to buy, sell, trade and store over 500 different cryptocurrencies. They also offer a wide range of additional services such as staking, borrowing, trading with leverage, trading bots, and much more.
They have by far the most cryptocurrency assets from customers under their management and they also have by far the highest daily trading volume of all other cryptocurrency exchanges.
They have evolved from a simple crypto trading platform into a full financial ecosystem for digital assets!
Binance’s growth was mainly driven by their rapid innovation, low fees and the wide range of assets that they offered to their customers.
Standard trading fees are around 0,1% per trade and discounts are available if you pay in their native token BNB. This token trades for over $500 at the time of writing and originally had a maximum supply of 200 million tokens. This amount is slowly being decreased to exactly 100 million tokens by a process called “burning”, which will automatically bring more value to their token.
A full list of the services that they offer:
- Spot trading;
- Margin trading;
- Futures trading;
- Staking;
- Binance Earn;
- Binance Wallet;
- Binance Academy;
- NFT marketplace;
- Binance Smart Chain (BSC);
- Binance Card;
- Binance Pay;
- Trading bots;
They have also introduced the Binance Card, which can be used to pay for goods and services worldwide. They offer a cashback of up to 3% on all your spending. With their card you can pay with your cryptocurrencies without having to convert to fiat currencies (like Dollars) in advance!
Previously, Binance was available almost globally. Due to regulatory challenges, they were no longer allowed to offer their services in certain countries. It is not certain if they will be allowed to offer their services again in these countries any time soon.
Their platform can be overwhelming for beginners because their ecosystem has become gigantic. That is why we list Binance as our number 3 in our list of recommended exchanges. Binance offers unmatched access to crypto markets.
Binance also maintains a Secure Asset Fund for Users (SAFU) to cover losses from internal failures.
If you would like to register your own account and start for yourself, we would like to ask you to use one of the Binance links that we have provided above. This way you help us make a little money for our time and effort we have put into our website.