Binance is one of the largest and most reputable cryptocurrency exchange platforms in the world. Founded in 2017 by Changpeng Zhao (CZ) and Yi He, it has grown to offer a wide range of services within the blockchain ecosystem.
Here is an overview of Binance's offerings, its history, and some notable aspects:
Main services and features:
* Spot trading: allows users to buy and sell cryptocurrencies instantly. Binance supports a large number of crypto assets (over 600 globally, but fewer on Binance.US).
* Futures trading: allows trading of cryptocurrency contracts with leverage.
* Binance Earn: offers various passive income options like staking, savings, and "liquidity farming," allowing users to generate returns on their cryptocurrency assets.
* Binance Wallet: a secure integrated wallet for storing cryptocurrencies.
* NFT Marketplace: a platform for buying, selling, and exchanging non-fungible tokens.
* Mobile app: A user-friendly app for trading and account management on the go.
* Binance Academy: Provides free educational resources to help users familiarize themselves with blockchain and cryptocurrencies.
* Launchpool/Launchpad: Platforms that facilitate the launch of new crypto projects, offering users the opportunity to acquire new tokens.
* Convert: A simple tool for quick cryptocurrency conversions.
* Margin trading: Allows users to trade with borrowed funds.
* Copy Trading: Allows users to automatically copy the trades of successful traders.
History and structure:
* Binance was launched in July 2017 in Hong Kong.
* It became the largest cryptocurrency exchange platform in terms of trading volume.