#BTC Binance is the world's largest cryptocurrency exchange by daily trading volume. Founded in 2017 by Changpeng Zhao (CZ), it has grown into a comprehensive blockchain ecosystem.

Here's a breakdown of what Binance is and how it works:

What it is:

* Cryptocurrency Exchange: At its core, Binance allows users to buy, sell, and trade a vast array of cryptocurrencies (over 350 listed coins and tokens, including Bitcoin, Ethereum, and its own native coin, BNB). It supports both crypto-to-crypto trading (trading one cryptocurrency for another) and crypto-to-fiat trading (using traditional currencies like USD or EUR to buy crypto).

* Blockchain Ecosystem: Beyond just an exchange, Binance has expanded into various related services, making it a holistic platform for cryptocurrency users and developers. This includes:

* Binance Smart Chain (now BNB Chain): Its own blockchain network.

* Binance Labs: A venture capital and incubator arm supporting promising Web3 projects.

* Binance Academy: An open-access learning hub providing free blockchain and crypto education.

* Binance NFT: Its official NFT marketplace.

* Binance Charity: A non-profit organization using Web3 technology for good.$BTC