Binance is a universal digital currency exchange that offers a platform for virtual currency users to trade more than a hundred Cryptocurrencies. Since the early quarters of 2018, Binance has been considered to be the largest virtual currency exchange in the globe when it comes to down to trading volume. The founder of Binance is known as Changing Zhao
The company was established in China and steadily shifted its headquarters as well as servers out of China and landed in Japan due to the Chinese government’s ban on virtual currency trading.
However, in March 2018, the company made its announcement to open a new office at Malta when the cryptocurrency regulations in both China and Japan became stricter. Also, in 2019, the company made known to the public about its Binance Jersey. The aim of Binance Jersey is majorly to expand the company’s European influence.
Binance is considered to be the largest cryptocurrency exchange in terms of trading volume.
Well-Established Partners of Binance
There are some major companies that have partnered with the biggest Cryptocurrency exchange over time and they include.
Core Business of Binance
As a prominent company known majorly because of their virtual currency exchange, Binance has a Blockchain innovation incubator known as Binance labs, and it majorly focuses on carefully nurturing promising pre-ICO: initial coin offering projects.
The Binance labs aid deserving virtual currency project teams by offering them vital funding for advancement, advisory resources and also a launch pad for any required listing and exercises for fundraisers.
Also, the company provides a site known as a Launchpad for the purpose of hosting new and upcoming Blockchain projects. Users are also able to establish APIs: application programming interfaces.
Services Offered by Binance
The product offered to virtual currency users and enthusiasts alike has to do with its very own Binance coin. It goes with the symbol BNB. The coin is highly prominent and has a market capitalization of over $1.4billion.
Subsequently, it is frequently used as an alternative technique for paying the fees at Binance exchange such as:
- Trading fees
- Withdrawal fees
- Listing fees
Users get a fifty percent discount when making use of BNB for the first year of their account and twenty-five percent for the second year. As for the third year, it is roughly 12.5 percent and 6.25 percent for the fourth year.
Also, Binance coin (BNB) tokens are utilized for Binance Launchpad as a means of investing in specific ICOs on Binance exchange.
To Wrap it Up
A fact that is not widely known by most users is that Binance gets its name from a selective combination of Binary finance. As for Binance exchange, it backs up the trading of more than forty-five coins including prominent coins such as Bitcoin, LiteCoin, and Ethereum.
Binance company has gone on to claim quality standards of security and safety with multi clustered as well as multi-tier architecture. Also, the exchange delivers very high processing throughput with its capacity to process over 1.4 million orders every second.
Interested in other blockchain or crypto-based companies? Visit our companies page for more information. For those who want to start trading on Binance, we also have a complete review on the Binance exchange.