Binance
Basic Information about Binance
Year Established | 2017 |
Website | binance.com |
Rank | 1 |
Country | Cayman Islands |
Has Trading Incentive | No |
Centralized | Yes |
Coins & Trading Pairs Available on Binance
Coin | Pair | Volume | Volume (BTC) | Volume (USD) | Volume % |
---|---|---|---|---|---|
Bitcoin | BTC/USDT | 82,232 | Ƀ 81,476 | $5,191,457,472 | 17.74% |
Ethereum | ETH/USDT | 1,061,991 | Ƀ 54,022 | $3,439,598,598 | 11.75% |
Solana | SOL/USDT | 12,437,306 | Ƀ 33,856 | $2,156,814,388 | 7.37% |
Usd Coin | USDC/USDT | 1,477,826,384 | Ƀ 23,216 | $1,478,691,316 | 5.05% |
First Digital Usd | FDUSD/USDT | 1,016,505,094 | Ƀ 15,938 | $1,012,778,087 | 3.46% |
Book Of Meme | BOME/USDT | 57,489,939,313 | Ƀ 10,761 | $684,494,154 | 2.34% |
Binancecoin | BNB/USDT | 1,306,923 | Ƀ 10,692 | $680,746,788 | 2.33% |
Solana | SOL/FDUSD | 3,815,090 | Ƀ 10,427 | $664,396,160 | 2.27% |
Pepe | PEPE/USDT | 93,329,023,934,169 | Ƀ 10,340 | $658,849,768 | 2.25% |
Binancecoin | BNB/FDUSD | 1,237,893 | Ƀ 10,149 | $646,183,357 | 2.21% |
What is Binance?
Binance is a prominent cryptocurrency exchange that was founded in 2017 by Changpeng Zhao, also known as CZ. It operates as one of the largest exchanges globally and offers a platform for trading a wide range of cryptocurrencies and virtual tokens. Binance provides a crypto wallet for users to store their digital assets and supports services such as earning interest on cryptocurrencies and facilitating transactions using cryptocurrencies.
The exchange boasts a vast selection of over 350 cryptocurrencies available for trading and is known for its high liquidity and low transaction fees. Binance has its own native token called BNB, which is used for various purposes within the platform, including paying for transaction fees and participating in token sales through initial coin offerings (ICOs). Binance has also introduced additional services like staking, lending, crypto loans, and Binance Pay, which enables users to make global purchases with zero fees.
Binance has made efforts to comply with regulatory requirements in different countries. Binance.US, a subsidiary of Binance, was created specifically to cater to customers in the United States and ensure compliance with U.S. regulations. The exchange also established Binance DEX, a decentralized exchange, and developed its own blockchain called BNB Chain. Binance Smart Pool allows miners to optimize their income, and Binance Card enables users to convert cryptocurrency into fiat currency for spending.
However, it is worth noting that Binance has faced regulatory challenges and legal issues. In 2021, the United States Department of Justice and Internal Revenue Service launched investigations into Binance for alleged money laundering and tax offenses. The UK Financial Conduct Authority also ordered Binance to cease regulated activity in the United Kingdom. In the same year, Binance entered the Japanese market through an acquisition and introduced an NFT Marketplace. In 2023, Binance faced a lawsuit from the U.S. Securities and Exchange Commission (SEC) for alleged misconduct, but it continues to operate while fighting the charges.
In summary, Binance is a leading cryptocurrency exchange that offers a wide range of crypto-to-crypto trading options, a crypto wallet, and various services for earning, transacting, and investing in cryptocurrencies. While it has faced regulatory challenges and legal issues in recent years, it remains a prominent player in the cryptocurrency industry.