Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.
Binance was founded in July 2017 by Changpeng Zhao, who is also the current CEO. The company is based in Shanghai, China but has offices in Japan, Taiwan, and South Korea.
Binance offers a variety of services including a mobile app, a web-based platform, and a desktop client.
The Binance exchange supports multiple languages including English, Japanese, Chinese, Russian, and Korean. The platform allows users to buy and sell cryptocurrencies using either fiat currency or another cryptocurrency.
Binance offers a variety of features including a “Coin Listing Competition” which provides new projects with an opportunity to list their coin on the Binance platform. In order to be considered for listing, projects must meet certain criteria such as having a minimum trading volume and being built on solid technology.
Binance also has a “Launchpad” which is an exclusive token launch platform that provides projects with access to a larger pool of potential investors. In order to participate in a Launchpad token sale, users must first pass KYC/AML verification.
Binance transfers can take anywhere from a few minutes to several hours depending on the type of transfer and the blockchain network conditions at the time of the transaction. For example, if you are transferring BTC from one wallet to another, the transaction will likely take longer than if you were transferring ETH or LTC.
Here is a breakdown of the different types of transfers and how long they typically take:
-Deposits: Cryptocurrency deposits into your Binance account are typically processed instantly. However, if you are depositing BTC or another cryptocurrency from an external wallet, the transaction may take longer depending on network conditions.
-Withdrawals: Withdrawals from your Binance account to an external wallet are also typically processed instantly. However, as with deposits, if you are withdrawing BTC or another cryptocurrency, the transaction may take longer depending on network conditions.
-Trades: Trades on the Binance exchange are usually processed very quickly; however, the time it takes for your trade to be executed can vary depending on market conditions.
-Token Sales: Participation in token sales on the Binance Launchpad usually requires completion of KYC/AML verification which can take some time depending on how quickly you submit the required documents. Once your KYC/AML verification is complete, you will be able to participate in token sales which are usually processed very quickly.