About Binance

What is Binance?

Binance is the world's most traded cryptocurrency exchange. As of August 2022, Binance had a daily trading volume of $76 billion and over 90 million users worldwide. The platform is widely trusted in the cryptocurrency space, where users can buy, sell, and store digital assets and gain exposure to over 350 cryptocurrencies and thousands of trading pairs.Binance's ecosystem encompasses the Binance exchange, Labs (incubator), Launchpad (premiere platform), Info, Academy, Binance's ecosystem consists of Labs, Incubator, Launchpad, Info, Academy, Research, Trust Wallet, Charitable Foundation, and the NFT platform.

Who founded Binance?

Binance was co-founded in China by Changpeng Zhao (CZ) and Yi He. Changpeng Zhao, a Chinese-Canadian and current CEO of Binance, is an accomplished developer and entrepreneur. He is a graduate of McGill University in Montreal, Canada, and has served as head of futures trading system development at Bloomberg, founded Fusion Systems, and was CTO of Blockchain.com.

He Yi is the Chief Marketing Officer at Binance and also heads Binance Labs, the venture capital arm. She previously served as VP at Yixia Technology, a leading mobile video technology company, and was one of the co-founders of OKCoin, a digital currency exchange.

When was Binance founded?

Founded in June 2017, Binance has grown to become the world's largest cryptocurrency exchange in just 180 days.

Which countries restrict the use of Binance?

According to Binance's Terms of Use, the use of Binance is restricted to users in the following regions: the United States, Singapore and Ontario, Canada. In addition, for legal and regulatory reasons, Binance's functionality is restricted in countries such as China, Malaysia, Japan, the United Kingdom, and Thailand. For example, futures and derivatives features are not available to users in Germany, Italy and the Netherlands. For compliance purposes, US users can use Binance.US, a version of Binance launched in September 2019 specifically for the US market.

What are Binance's fees?

Binance is one of the lowest commission platforms and is friendly to both novice and professional traders, offering a wide range of trading types and advanced tools. The platform uses a tiered system of fees, with ten tiers ranging from regular users to VIP 9. The spot trading fee for regular users is 0.1% (pending and order taking). Starting in July 2022, Binance announced that it will waive fees for spot Bitcoin pairs, and from August it will extend the fee waiver to ETH/BUSD pairs.

Does Binance support leveraged or margin trading?

Users can trade on margin with up to 10x leverage through Binance Margin, or participate in contract trading through Binance Futures, using USDT, BUSD or other cryptocurrencies as margin for settlement. In addition, users can trade options with leverage through Binance Options.