**Binance** is the world's largest **cryptocurrency exchange** by trading volume, offering a wide range of services including spot trading, futures, staking, lending, and more. Founded in **2017** by **Changpeng Zhao (CZ)**, it quickly grew to dominate the crypto market, though it has faced regulatory challenges in multiple countries.

### **Key Features of Binance**

1. **Spot & Derivatives Trading**

- Supports hundreds of cryptocurrencies (BTC, ETH, BNB, etc.).

- Offers **futures, options, and margin trading** with high leverage (up to 125x on some contracts).

2. **Binance Coin (BNB)**

- Native token used for **fee discounts, staking, and ecosystem participation**.

- Originally an ERC-20 token, now runs on **BNB Chain** (a blockchain developed by Binance).

3. **Low Fees & High Liquidity**

- Competitive trading fees (0.1% spot fee, lower for BNB holders).

- Deep liquidity, making it ideal for large-volume traders.

4. **Additional Services**

- **Binance Earn** (staking, savings, DeFi yield products).

- **Binance Launchpad** (platform for new token sales).

- **Binance Pay & Card** (crypto payments & debit card).

- **Binance Academy** (educational resources).

### **Regulatory Issues & Legal Challenges**

- **Banned in some countries** (e.g., U.S. users must use **Binance.US