These days, Binance is a a giant in the world of cryptocurrency exchange. It wont' be an exaggeration to say that this is a Microsoft or a Mercedes in the world of cryptocurrencies. This is a major brand and a symbol of security for those investing in Bitcoin and other digital currencies.
Just go to coinpaprica to see that the Binance token (BNB) is leading the niche with the biggest market capitalization. In this article, we will try to help you get familiar with the specifications of the trading platform and show you how easy it is to get started with trading and investing on Binance.
Market Pioneer
Changpeng Zhao, founder of Binance, can be considered a pioneer in the market of cryptocurrencies. In 2017, he founded a cryptocurrency exchange, which is currently on of the leaders in the industry. Some experts have been trying to estimate its market capitalization. Some of them even say this is a 9-digit figure!
CZ himself, who is often referred to as CEO of Binance, is also the founder of Fusion Systems, a company involved in developing high-frequency trading (HFT) solutions for various investment companies in Shanghai, China. But that's not all. He was also involved in the creation of Blockchain.info and used to be CTO of OKCoin.
If you have ever pondered upon the name, that's a merge of binary and finance, which gives Binance. It was officially launched in June 2017 and gained 15 million dollars during the ICO by selling the BNB token. When considering the current value of the token, we can say that Binance seems to have been a success so far.
Binance: Fees and Discounts
The registration is free. Still, BInance charges each transaction with a 0,1% fee. OK, no let's go back to the BNB token. Apart from buying and selling it, owning it has a number of advantages. For example, you can use the tokens to pay those transaction fees. All you need to do is check the corresponding option in the platform settings, and you are good to go. This may well be a good option many users. With that being said, it seems like the token acts as an internal currency for the platform. Other currencies allowed on Binance: USD, EUR, JPY, RUB, UAH, KZT, AUD, CNY, and some others.
Another good option is relative anonymity. You can simply register and start trading without ID confirmation. In this case, the withdrawal limit is 2BTC. After verifying your ID, you can withdraw up to 100BTC a day.
Moreover, it would be safe to say that having a Binance account may soon become a must-have option for each seasoned trader or investor dealing with cryptocurrencies. Why? Thanks to its scale and popularity, the exchange guarantees outstanding liquidity. Placing a token on this exchange is a sign of serious ambitions. And finally, Binance is all about transaction speed. It operates on top of a certified algorithm capable of processing 1,4 million orders a second.
