CEO and co-founder Changpeng Zhao has a tattoo of the Binance logo on his forearm, which he says is a sign of his commitment. He was the Head of Development at Blockchain, Co-founder and CTO of OKCoin, and the Founder and CEO of BijieTech before working on Binance. Changpeng Zhao and He-Yi co-founded Binance in 2017. Zhao is the current CEO and appeared on the cover of Forbes just a few short months after Binance was launched. Binance is also one of a few cryptocurrency exchanges that have its desktop trading application for both macOS and Windows. Binance Coin can be bought on the Binance exchange using another cryptocurrency, or it can be bought on several other exchanges. This is because transaction fees on the cryptocurrency networks themselves vary significantly depending on the cryptocurrency you are using and network congestion. If you plan to trade on Binance often, it’s a good idea to buy a small amount of BNB to benefit from discounted trading fees. On Binance, you can also buy cryptocurrency with a credit card or debit card, trade futures contracts with leverage, participate in token sales and lend out your cryptocurrency to earn interest. Binance’s contracts are perpetual contracts, which means they don’t have an expiration date and can theoretically be held indefinitely.

Binance’s trading fees are competitive with other major cryptocurrency exchanges. If you have some time to spare, Binance’s various competitions can be a relatively simple way to earn some extra crypto. You can of course amend this at any time, although you’ll need to go through an extra couple of security steps. If you do need to make contact with somebody at Binance, you can submit a ticket request via your account portal. For level 2 which allows up to 100BTC per day, you need to upload a photo ID and wait till you are approved. Binance is currently very quick to add new coins and tokens after their ICO which usually means you can purchase them cheaply which allows for greater profit down the road. Another product that taps into the liquidity-providing aspect of Binance Earn is Swap Farming, which allows users to generate BNB rewards simply by swapping their crypto tokens.

Another feature on Binance Earn is liquidity farming, where you can earn rewards in exchange for providing liquidity to selected token pools. On June 23, 2023, Belgium's Financial Services and Markets Authority ordered Binance to "cease, with immediate effect, offering or providing any and all" virtual currency services in the country. "Expanding the cryptocurrency exchange markets with fiat currencies in the European region is opening new economic opportunities for Europeans as well as freedom from looming Brexit uncertainty where the pound and euro are also in concern. Both mobile apps allow you to access most of the features of the web platform, including fiat gateway, Binance Futures, Binance Options, spot trading, margin trading, P2P trading, and more. Exchanges like Poloniex or Kraken are more expensive, too, as they are 0.15%-0.16% maker fee and 0.25%-0.26% taker fee. Read the Full Report fees for credit/debit card purchases are up to 2%. This method of purchasing cryptocurrency is very convenient, but more expensive than a bank transfer. Supported cryptocurrencies include Ark, EOS, ARPA, TROY, Lisk, LOOM, Tezos, KAVA, THETA, and more. While the main players - notably Bitcoin, Ethereum, Bitcoin Cash, Litecoin and EOS, are of course supported, Binance is also good for much smaller, lower-cap tokens.

As an example, you could create a plan to buy 100 EUR worth of Bitcoin on the first day of every month. The Binance ICO occurred from July 14-27, 2017, at which time 100 million BNB Binance Coins were sold, raising approximately $15 million. The exchange, which was launched in 2017, quickly grew to become a favorite among cryptocurrency traders thanks to listing a huge number of different cryptocurrencies and offering attractive features for traders. For example, if you trade another cryptocurrency for bitcoin on the exchange, Binance will charge you a 0.1% trading fee. It is important to note that Binance is a crypto-only exchange, and does not cater to fiat deposits. At the time of writing, it’s possible to deposit 12 different fiat currencies to Binance and use them to buy cryptocurrency. You can now start to deposit your cryptocurrency coins or tokens into your Binance account. So now that you know how Binance works, let’s explore what cryptocurrencies the platform supports. In reality, it’s amazing just how quickly the platform has grown since it was launched in 2017. Although the exchange is less than two years old, Binance is already responsible for billions of dollars in weekly trading volumes.