Binance
Tue, Apr 15Binance is the largest cryptocurrency exchange globally, measured by daily trading volume. In 2021, it recorded a trading volume of US $34 trillion.
Founded in China by Changpeng Zhao, commonly referred to as CZ, Binance now has its headquarters in the Cayman Islands and the Republic of Seychelles. CZ is a former developer who has experience working with high-frequency trading software.
For non-US traders, Binance supports trading in over 600 different cryptocurrencies, while US traders can access more than 100 digital assets.
The Binance platform (distinct from the Binance.us platform) is recognized for its low trading fees, extensive range of supported cryptocurrencies, and various order types, including limit orders, market orders, stop-limit orders, trailing stop orders, post-only orders, peer-to-peer trading, margin trading, and one-cancels-the-other orders.
Due to a ban on Binance in the United States in 2019 related to financial regulatory issues, the company established Binance.us, a separate cryptocurrency exchange that is registered with the US’s FinCEN regulatory agency, which is part of the US Department of Treasury.
Binance also operates two of its own cryptocurrencies: Binance Coin (BNB) and Binance Smart Chain (BSC). As of August 2022, Binance has maintained a trading volume of US $34 trillion for the year.
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