🔥 Discovering the Binance Exchange: A Journey from Inception to Present (2017 - 2025)
The Binance exchange was founded in 2017 by Changpeng Zhao (CZ) and Yi He. Before founding Binance, CZ accumulated valuable experience at companies like OKCoin and Blockchain.info, where he developed skills in blockchain technology and cryptocurrency.
📅 Formation Process:
July 2017: Binance officially launched with the goal of providing an easy-to-use, fast cryptocurrency trading platform with low transaction costs. Although established in China, the exchange relocated to other countries due to strict regulations on cryptocurrency here.
🚀 Impressive Start:
Initially, Binance only offered basic trading services with major currency pairs like Bitcoin (BTC), Ethereum (ETH), and many other altcoins. However, thanks to its user-friendly interface and transaction fees of around 0.1%, Binance quickly attracted the attention of the community.
📈 Strong Development:
In 2017, Binance witnessed remarkable growth, rapidly rolling out many new features such as margin trading, futures contracts, staking, and other financial services.
💰 ICO of Binance Coin (BNB):
The launch of Binance Coin (BNB), the native token of the platform, was an important part of Binance's success. BNB was issued through an ICO in July 2017 and quickly became one of the largest coins. Users can use BNB to pay transaction fees and receive discount offers.
