Binance Binance

Founded in Hong Kong in 2017, Binance Exchange is one of the top cryptocurrency exchanges. Trading Altcoins is a strong feature of this platform. Binance lets traders buy and sell more than 500 crypto currencies, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and the company's own token Binance Coin (BNB).
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Cryptocurrencies Fiat Currencies Payment Methods Payout Methods Fees
USDC
USDC
USDC
0.11%
$1.00
Ethereum
Ethereum
ETH
-0.45%
$3,194.45
Solana
Solana
SOL
3.1%
$155.89
First Digital USD
First Digital USD
FDUSD
0.08%
$1.00
XRP
XRP
XRP
2.44%
$0.55
Binance Coin
Binance Coin
BNB
0.3%
$603.89
Dogecoin
Dogecoin
DOGE
-1.22%
$0.16
Ethena
Ethena
ENA
-6.32%
$1.01
Shiba Inu
Shiba Inu
SHIB
-1.81%
$0.0000264802
BOOK OF MEME
BOOK OF MEME
BOME
-3.6%
$0.01
Worldcoin
Worldcoin
WLD
2.93%
$5.80
Avalanche
Avalanche
AVAX
1.21%
$38.93
Fetch.AI
Fetch.AI
FET
-0.53%
$2.44
Sei
Sei
SEI
6.15%
$0.67
Ordinals
Ordinals
ORDI
-3.23%
$48.59
Chainlink
Chainlink
LINK
-1.92%
$15.50
Cardano
Cardano
ADA
0.12%
$0.51
Render Token
Render Token
RNDR
-0.64%
$9.20
Arbitrum
Arbitrum
ARB
-2.4%
$1.19
Sui
Sui
SUI
-1.51%
$1.38
Bonk
Bonk
BONK
-3.21%
$0.0000201830
Litecoin
Litecoin
LTC
-0.54%
$84.72
Bitcoin
Bitcoin
BTC
0.88%
$66,461.62
Optimism
Optimism
OP
-0.73%
$2.53
Fantom
Fantom
FTM
-3.08%
$0.76
Filecoin
Filecoin
FIL
-1.06%
$6.57
Polygon
Polygon
MATIC
-0.07%
$0.73
Jupiter Exchange Token
Jupiter Exchange Token
JUP
-0.85%
$1.17
Polkadot
Polkadot
DOT
0.54%
$7.42
TRON
TRON
TRX
0.18%
$0.11
Celestia
Celestia
TIA
-2.64%
$11.16
Internet Computer
Internet Computer
ICP
-1.57%
$14.92
Stacks
Stacks
STX
7.08%
$3.08
Omni Network
Omni Network
OMNI
0%
$25.17
Wormhole
Wormhole
W
-0.17%
$0.63
Gala
Gala
GALA
-1.84%
$0.05
Bitcoin Cash
Bitcoin Cash
BCH
0.48%
$513.18
Aptos
Aptos
APT
-2.37%
$9.97
Arweave
Arweave
AR
4.75%
$34.49
Ethereum Classic
Ethereum Classic
ETC
0.01%
$28.14
Injective Protocol
Injective Protocol
INJ
-2.16%
$28.44
Nervos Network
Nervos Network
CKB
-2.27%
$0.02
The Graph
The Graph
GRT
3.15%
$0.30
Maker
Maker
MKR
-5.62%
$2,855.25
Cosmos
Cosmos
ATOM
0.25%
$8.88
AltLayer
AltLayer
ALT
-1.39%
$0.43
THETA
THETA
THETA
4.04%
$2.43
Singularity NET
Singularity NET
AGIX
-0.94%
$0.99
Yield Guild Games
Yield Guild Games
YGG
-2.08%
$0.94
Starknet
Starknet
STRK
-2.67%
$1.32
MANTRA
MANTRA
OM
-9.09%
$0.70
NEO
NEO
NEO
-1.98%
$19.55
Uniswap
Uniswap
UNI
2.13%
$8.15
JasmyCoin
JasmyCoin
JASMY
0.46%
$0.02
GMT
GMT
GMT
0.17%
$0.25
Alchemy Pay
Alchemy Pay
ACH
-1.94%
$0.04
SSV Network
SSV Network
SSV
0.17%
$43.64
Manta Network
Manta Network
MANTA
-0.36%
$2.00
Pyth Network
Pyth Network
PYTH
-0.15%
$0.68
Conflux Network
Conflux Network
CFX
-1.29%
$0.25
Polymesh
Polymesh
POLYX
-0.42%
$0.47
VeChain
VeChain
VET
0.57%
$0.04
Aave
Aave
AAVE
1.95%
$95.85
Beam Token
Beam Token
BEAM
7.49%
$0.03
Livepeer
Livepeer
LPT
0.63%
$15.40
DYDX (ETH)
DYDX (ETH)
DYDX
-0.66%
$2.37
EOS
EOS
EOS
1.76%
$0.84
Chiliz
Chiliz
CHZ
-1.47%
$0.12
Ethereum Name Service
Ethereum Name Service
ENS
3.49%
$15.94
Memecoin
Memecoin
MEME
-1.13%
$0.03
ApeCoin
ApeCoin
APE
0.84%
$1.34
Terra Classic
Terra Classic
LUNC
-0.25%
$0.0001108563
Hedera Hashgraph
Hedera Hashgraph
HBAR
-2.56%
$0.09
PancakeSwap
PancakeSwap
CAKE
-0.29%
$3.01
The Sandbox
The Sandbox
SAND
-0.6%
$0.49
Mina Protocol
Mina Protocol
MINA
0.91%
$0.88
Terra
Terra
LUNA
-0.8%
$0.66
Immutable X
Immutable X
IMX
7.57%
$2.40
Phoenix Global
Phoenix Global
PHB
-0.11%
$2.04
Reserve Rights
Reserve Rights
RSR
-1.15%
$0.0066315575
IOTA
IOTA
IOTA
-0.89%
$0.24
Ocean Protocol
Ocean Protocol
OCEAN
-1.98%
$1.02
Oasis Network
Oasis Network
ROSE
-0.73%
$0.10
Curve DAO Token
Curve DAO Token
CRV
-1.27%
$0.46
Ravencoin
Ravencoin
RVN
3.27%
$0.03
Vanar Chain
Vanar Chain
VANRY
-1.54%
$0.17
Raydium
Raydium
RAY
2.2%
$1.78
Axie Infinity
Axie Infinity
AXS
-1.27%
$7.66
Amp
Amp
AMP
1.36%
$0.0080451685
Synthetix Network Token
Synthetix Network Token
SNX
-0.9%
$3.10
Lido DAO
Lido DAO
LDO
-0.06%
$2.14
Stellar
Stellar
XLM
0.57%
$0.12
Algorand
Algorand
ALGO
0.76%
$0.19
Flow
Flow
FLOW
-0.39%
$0.95
Kava
Kava
KAVA
0.53%
$0.73
Mask Network
Mask Network
MASK
-1.85%
$3.58
Golem
Golem
GLM
0.49%
$0.42
Metis Token
Metis Token
METIS
-1.05%
$68.11
Astar
Astar
ASTR
-2.89%
$0.11
Axelar
Axelar
AXL
1.42%
$1.26
IoTeX
IoTeX
IOTX
0.94%
$0.06
Gnosis
Gnosis
GNO
7.26%
$392.15
MultiversX (Elrond)
MultiversX (Elrond)
EGLD
0.36%
$44.88
Ronin Token
Ronin Token
RON
-2.66%
$3.39
Celo
Celo
CELO
0.99%
$0.88
Lisk
Lisk
LSK
-0.63%
$1.85
Blur
Blur
BLUR
-0.33%
$0.43
Decentraland
Decentraland
MANA
-0.41%
$0.48
Space ID
Space ID
ID
-1.38%
$0.83
Dymension
Dymension
DYM
-1.42%
$4.03
SuperVerse
SuperVerse
SUPER
-1.38%
$1.07
Gas
Gas
GAS
-0.12%
$5.71
TrueUSD
TrueUSD
TUSD
0.21%
$1.00
eCash
eCash
XEC
0.54%
$0.0000551328
Threshold Network
Threshold Network
T
-0.82%
$0.04
GMX
GMX
GMX
-2.38%
$29.79
PAX Gold
PAX Gold
PAXG
-1.77%
$2,328.65
Waves
Waves
WAVES
-0.38%
$2.62
Zcash
Zcash
ZEC
2.07%
$23.98
SKALE
SKALE
SKL
0.1%
$0.10
Kadena
Kadena
KDA
0.29%
$0.96
Harmony
Harmony
ONE
-0.6%
$0.02
Qtum
Qtum
QTUM
-0.75%
$4.29
0x
0x
ZRX
0.48%
$0.56
Zilliqa
Zilliqa
ZIL
-0.42%
$0.03
Sushi
Sushi
SUSHI
-0.73%
$1.04
Chromia
Chromia
CHR
0.99%
$0.33
Enjin Coin
Enjin Coin
ENJ
-1.11%
$0.35
WOO Network
WOO Network
WOO
1.17%
$0.32
Klaytn
Klaytn
KLAY
2.68%
$0.21
Dash
Dash
DASH
-0.3%
$31.46
Moonbeam
Moonbeam
GLMR
0.23%
$0.34
Illuvium
Illuvium
ILV
3.53%
$104.77
Trust Wallet Token
Trust Wallet Token
TWT
2.1%
$1.19
DeXe
DeXe
DEXE
-3.75%
$13.44
Loopring
Loopring
LRC
-0.7%
$0.27
Quant
Quant
QNT
-1.45%
$107.72
Frax Share
Frax Share
FXS
-3.34%
$5.01
Tezos
Tezos
XTZ
-0.78%
$1.05
Kusama
Kusama
KSM
-1.42%
$33.07
Holo
Holo
HOT
-0.18%
$0.0026249915
FLUX
FLUX
FLUX
1.51%
$1.01
BitTorrent
BitTorrent
BTT
-0.25%
$0.0000013315
1INCH
1INCH
1INCH
-0.29%
$0.44
yearn.finance
yearn.finance
YFI
2.81%
$7,473.52
Storj
Storj
STORJ
0.13%
$0.57
VeThor Token
VeThor Token
VTHO
-2.63%
$0.0037572819
WAX
WAX
WAXP
-0.56%
$0.07
Decred
Decred
DCR
1.25%
$23.02
Nexo
Nexo
NEXO
-1.32%
$1.27
Audius
Audius
AUDIO
-0.66%
$0.20
NEM
NEM
XEM
-0.63%
$0.04
Convex Finance
Convex Finance
CVX
-0.45%
$2.80
Rocket Pool
Rocket Pool
RPL
-0.82%
$23.50
Siacoin
Siacoin
SC
-0.59%
$0.0079070110
Osmosis
Osmosis
OSMO
-0.08%
$0.97
JUST
JUST
JST
-0.7%
$0.03
aelf
aelf
ELF
0.08%
$0.58
Basic Attention Token
Basic Attention Token
BAT
-0.27%
$0.27
Wrapped Bitcoin
Wrapped Bitcoin
WBTC
0.91%
$66,470.21
Near Protocol
Near Protocol
NEAR
4.13%
$7.03
Pendle
Pendle
PENDLE
10.86%
$6.60
Pepe
Pepe
PEPE
5.2%
$0.0000067420
dogwifhat
dogwifhat
WIF
-4.72%
$2.85
Floki Inu
Floki Inu
FLOKI
-1.96%
$0.0001729310
THORChain
THORChain
RUNE
-4.2%
$5.60
BitTensor
BitTensor
TAO
5.43%
$511.98
Theta Fuel
Theta Fuel
TFUEL
16.6%
$0.12
FTX Token
FTX Token
FTT
4%
$1.64
Ontology
Ontology
ONT
6.72%
$0.47
Amazon
Apple Pay
Bank Transfer
Credit card
Paypal
Skrill
Sofort by Klarna

Users can trade cryptocurrencies on Binance. It supports most of the popular digital currencies. Additionally, the exchange offers programs for miners, trading assistance, and interest earner programs. It also offers cryptocurrency-related services for users.

The History of the Binance Coin

Binance Coin’s story would be difficult to tell without explaining what Binance is all about. An initial coin offering (ICO) for Binance Coin was conducted in July 2017. During the Binance ICO, BNB tokens were distributed among different participants, which included angel investors and the Binance founding team. 

In a nutshell, here’s how BNB tokens were distributed at first:

Binance raised $15 million from the ICO in Bitcoin (BTC) and Ethereum (ETH). The company sold 100 million BNB tokens at a price of 15 cents each.

In total, 35% of the $15 million raised was utilized to upgrade Binance’s platform and exchange system, 50% for marketing and education of new innovators, and 15% for reserve purposes.

A BNB token was built on the Ethereum blockchain during its ICO in the early days. Soon after the conclusion of Binance’s ICO in mid-2017, the crypto exchange platform was launched. 

With the launch of its own native blockchain in 2019, Binance launched its own BNB coin called Binance Chain (BC). By the end of 2019, users swapped their BNB ERC-20 tokens for the new BNB coins. 

Price Dynamics for BNB

Price fluctuations of BNB are similar to those of other crypto assets that trade on the market. Since Binance’s initial coin offering, BNB sold for about $0.10 per token. Binance Coin’s market cap has exceeded a valuation of $70 billion. 

In the aftermath of Binance’s ICO, BNB has seen a significant increase in value, sometimes reaching more than $600 per coin. Is Binance Coin worth investing in? With its historical price rise, investors likely made a profit if they invested and sold at the appropriate times. Regardless, only time will tell what the future holds for BNB’s price.

Regulatory and Financial Aspects of Binance

Since Binance began operation in 2017, it has become one of the leading players in the crypto market. Regulation difficulties, however, emerged in 2021 against Binance. In 2021, Binance was subjected to regulatory actions from countries and jurisdictions such as Canada, the Cayman Islands, Japan, Malta, the Netherlands, Malaysia, the United Kingdom, and Thailand.

Binance’s operations in the U.K. were ordered to cease by the Financial Conduct Authority because it did not possess the necessary authorizations, registrations, or licenses. Likewise, Malaysian authorities responded by filing a criminal complaint against Binance for operating as an unauthorized virtual asset service provider (VASP) the month after.

Binance announced in 2019 that U.S. users would no longer be accepted on its main exchange, although Binance launched a platform compatible with U.S. users the same year, called Binance.US. Prior to its 2021 headwinds, Binance removed U.S. users from its main exchange in 2019.

Binance plans to open additional offices throughout the world as a response to the increased regulatory scrutiny it has received. It also notes that it plans to apply for licensing in each jurisdiction where it operates. Additionally, a number of high-risk items are also being phased out or restricted by Binance as it expands its compliance capabilities and resources.

Binance’s Trading Guide

The Binance platform has two trading settings: Basic and Advanced. Beginning traders should begin trading on Binance in Basic and Advanced settings for experienced traders.

Using the Basic trade settings, you will have a simple layout that is easy to understand. The only information to make a trade is displayed there. As a professional trading platform, Binance might appear confusing to newbies, so even the Basic trade settings may seem overwhelming. However, you won’t find it complicated, once you get the hang of it!

Trades made through the Advanced setting are accessible to expert traders, giving them access to all price charts and market data that they require to make complex decisions.

Traders’ fees

The trading fees on Binance are among the lowest on the market. There are no fees for depositing funds on Binance. 

Binance: Buying crypto on the exchange

Binance accounts can be created quite easily. You just need to sign up for Binance on the official website and click the “Register” button.

You must verify your identity

You can complete the identity verification by selecting “Identification” from the drop-down menu. On Binance’s help desk you will find a detailed description of the verification process.

You can buy crypto by depositing money

Your trading account is ready once all steps have been completed. With Binance, you can deposit fiat currency, purchase cryptocurrency, or buy cryptocurrency using a credit card.                                         

Using a bank transfer

Transferring money to Binance will save you the most money when buying crypto on Binance. Click “Wallet” and then “Fiat & Spot”. Then click the “Deposit” button.

The following steps are available on Binance’s help desk. For a more detailed explanation, visit the platform’s help desk.

The next step is to begin trading on Binance after depositing funds. As soon as your account is debited, you can start trading crypto with Binance’s “Cash Balance” and “P2P Trading” features.

In the menu bar, hover over “Buy Crypto” to access these features. Beginners will benefit most from the Cash Balance option, which incurs extra fees, whereas advanced users will prefer P2P Trading because it allows them to limit purchases or stop losses.

Payment by credit card

When buying crypto on Binance, using a credit card is the easiest method. You can purchase cryptocurrency by clicking “Buy Crypto,” then selecting “Credit/Debit Card”. From there, enter the USD or EUR amount and choose the crypto you wish to purchase.

Your purchase will be completed after you have entered your credit card details and the validity of your purchase has been verified with MasterCard SecureCode or Visa 3D-Secure.

Binance also provides the following services

Binance offers a variety of tools, platforms, and services besides exchange-specific services. Some of them are the following:

The Binance Earn platform allows investors to earn interest from depositing stablecoins with the exchange. For these coins, the exchange provides multiple options and interest rates to investors depending on the coin and the tenure.

Using the Binance Visa Card, users can exchange their cryptocurrencies for fiat currency and spend it on products and services. In addition to no administrative fees, third-party fees for payment networks apply.

Bitcoin smart pools enable miners to switch between different currencies to optimize and multiply their mining income.

Binance has an incubator for blockchain projects called Binance Labs, which nurtures promising projects in the pre-ICO stage. This project helps deserving cryptocurrency projects with funding, advisory resources, and a platform to launch their listing and fundraising efforts.

There is also a site called Binance LaunchPad, which is dedicated to hosting blockchain-based projects and API interfaces. As of March 2021, 42 projects have been launched on the site.

Conclusion

There is no shortage of platforms competing for investor/trader attention in the crypto exchange market today. However, Binance has managed to shine a light on the crowd by becoming the largest crypto exchange platform based on volume, something that is not easily achieved. Thus, the platform speaks for itself in terms of quality and reliability.

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