Binance is a digital asset exchange that facilitates trading of cryptocurrencies. The name “Binance” is a combination of two words – binary and finance.
The company behind Binance is Binance Ltd. and is headquartered in Malta.
Binance was founded in July 2017 by Changpeng Zhao, who is also the CEO of the company. Binance was created after a successful ICO that raised $15 million.
The ICO was held on the NEO platform.
The exchange has grown rapidly since then and as of January 2018, it was the largest cryptocurrency exchange with a market capitalization of $1.3 billion.
Binance has a number of features that make it attractive to users. These include:
1) Low trading fees: Binance charges a flat fee of 0.1% per trade.
This is much lower than the industry average which is around 0.25%.
2) High liquidity: Binance regularly ranks among the top exchanges in terms of trading volume. This means that there are always buyers and sellers available on the platform, providing good liquidity for traders.
3) A wide range of cryptocurrencies: Binance currently supports over 100 different cryptocurrencies, making it one of the most comprehensive exchanges in terms of supported assets.
4) Advanced trading features: Binance offers advanced trading features such as margin trading, limit orders, and stop-loss orders. These features are beneficial for experienced traders who want to take advantage of more sophisticated trading strategies.
5) Strong security: Binance has implemented a number of security measures to protect user funds from theft or loss. For example, 2-factor authentication is mandatory for all withdrawals and account changes.
In addition, all user funds are stored in offline cold wallets to prevent hacking attempts.
The meaning of Binance is “a digital asset exchange that facilitates trading of cryptocurrencies.” The company behind Binance is Binance Ltd., which is headquartered in Malta.
The exchange has grown rapidly since it was founded in July 2017 by Changpeng Zhao, and as of January 2018 it had a market capitalization of $1.