Binance is a cryptocurrency exchange established in July 2017.
Run by CEO Changpeng Zhao – aka CZ – former manager of the Development Department at Blockchain.com, co-founder and technical manager of the once famous exchange – OKCoin.
In early July 2017, Binance raised capital through ICO. Thanks to the CEO’s huge profile, the Binance exchange project quickly gained attention from the community.
Binance’s ICO round, which lasted from July 1 to July 21, 2017 raised $15 million and had more than 20,000 account registrations in the early days.
At its inception, Binance exchange based in China. But with tight regulations on cryptocurrencies, the exchange had to move offices Hong Kong and Japan.
However, Binance is still entangled in legal troubles in Japan. Therefore, in March 2018, Binance moves to Malta – a paradise of Blockchain industry
Review of Binance exchange
Currently there are 466 trading pairs on Binance exchange
Floor Binance supports multi-languages. In particular, Vietnamese is one of the earliest languages developed by the exchange. Besides, Binance has a team and a Telegram channel dedicated to supporting Vietnamese. You can already use Binance exchange easily without any language barriers.
Low transaction fees (0.1% for both Taker and Maker. If you use BNB as a transaction fee, the cost will be reduced to 0.075% or less depending on level) as well as high and fast transaction processing performance. The technology of the floor has capacity to process 1.4 million orders per second, which makes Binance the most potential exchange in the future in terms of trading volume.
Bonus program up to 40% commission. In fact, Binance is the exchange pioneer bonus ref for you. As a result, you will have a fairly large passive income if you invite many other people to join the floor.
Without KYC you can withdraw up to 2 BTC/day. Unlike other exchanges that require KYC to withdraw money (like Poloniex, …), you can use Binance for small transactions without providing too much personal information.
Binance has a large cryptocurrency ecosystem, in addition to the centralized exchange, Binance has a decentralized exchange Binance DEX, which has its own Blockchain, Binance Chain with the base coin Binance Coin (BNB). In addition, Binance also has an official mobile wallet, Trust Wallet, with which Binance Labs invests and supports projects. And it is impossible not to mention the Binance Launchpad platform that leads the market trend of the IEO token sale.
Another advantage is also thanks to the strong ecosystem. That is the utility of BNB coin. BNB is used in many Binance products, such as using BNB to reduce transaction fees on the exchange, buying IEOs.
Binance has a User Asset Protection Fund (referred to as SAFU). 10% of trading fees on the exchange will be transferred to this fund to insure your assets.
Binance supports trading virtual currencies with BTC, ETH, BNB and USDT. However, recently, Binance has integrated a lot of different payment methods: Visa Card, Master Card. This means you can use your credit card to buy crypto assets directly on the Binance exchange.
Binance exchange currently only has spot trading and OTC trading
Many of you need to trade on margin, so you can’t trade on Binance.
As a popular exchange in the world, it is also a target for hackers to attack. In 2018, the Binance exchange had some unfortunate incidents. Specifically, in July, an anonymous coin had a transaction of up to 96 BTC.
Binance Exchange Ecosystem
In most cryptocurrency exchanges, Binance has a very diverse ecosystem. The exchange provides many services such as: Lending, Margin trading, Futures, Staking, DEX,
Binance Futures: Futures trading platform
Binance JEX: Conventional and derivatives trading platform acquired by Binance from JEX
Binance Margin Trading: Margin trading
Binance DEX: Decentralized Exchange. Online transactions between two people without going through any middlemen. Eliminates hacker problems as well as scams.
Binance Lending: Cryptocurrency loan form
Binance Launchpad: Token launcher for blockchain projects
Binance P2P: Peer-to-Peer Cryptocurrency Trading Platform. You can buy and sell cryptocurrencies in VND directly on the Biannce exchange.
Binance Cloud: Open a cryptocurrency exchange. Helps you build a crypto exchange simply and quickly.
Binance Options: Trading American-style options contracts. You can make a profit by predicting the price up or down.
Trust Wallet: Decentralized cryptocurrency storage wallet
You can follow the Communication channel of Binance exchange to be proactive before important events!
Twitter CZ: https://twitter.com/cz_binance
Telegram general announcement: https://t.me/binance_announcements
Telegram Vietnamese: https://t.me/BinanceVietnamese
Facebook Binance Vietnam: https://www.facebook.com/BinanceVietnamese/
–> Instructions to register for Binance exchange
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