#ATTENTION_BINANCE_USER
12 Fun Facts About Binance You Might Not Know**
Binance is one of the largest cryptocurrency exchanges in the world, but there are many fascinating facts that go unnoticed. Here are 12 facts you probably didn’t know:
Binance was founded in 2017 by Changpeng Zhao (CZ) and Yi He. In less than a year, it has become the largest cryptocurrency exchange in the world by trading volume.
The name “Binance” is a combination of “Binary” and “Finance”, highlighting its connection to technology and economics.
Binance is known for not having a centralized office, making it a global company in every sense.
Binance Coin (BNB), launched as a utility token, was initially used to discount transaction fees and is now accepted in a variety of applications, including travel and payments.
Binance regularly burns BNB, reducing its total supply to increase the value of the token.
The platform supports over 1.4 million transactions per second, making it one of the fastest in the industry.
In addition to the exchange, Binance has its own blockchain network (Binance Smart Chain), an NFT platform, an education academy, and even crypto lending services.
When the Chinese government banned cryptocurrency exchanges in 2017, Binance quickly moved its operations to other countries, showing flexibility.
Binance launched Trust Wallet, a digital wallet that allows you to store various types of cryptocurrencies securely.
In 2019, Binance suffered a cyberattack and lost approximately US$$ 40 million. However, thanks to the SAFU (Secure Asset Fund for Users) fund, all users were reimbursed.
Binance Academy offers free material on blockchain and cryptocurrencies in several languages, including Portuguese.
Binance often moves billions of dollars daily, making it the most liquid platform on the market.
With all these curiosities, it is clear that Binance is much more than just an exchange.
