Binance

By Julia Mehalko

Cryptocurrency exchange history and facts

Binance                                 

CEO: Changpeng Zhao

Based in: Hongkong, HK

Founded: 27 June 2017

Best known for: Cryptocurrency exchange platform 

Traded on: Privately held

Ticker: BNB

Binance is a cryptocurrency exchange platform. Users can trade Bitcoin, Ether, and more by either using their apps (available through the App Store, Google Play, or Android APK) or their computer desktop which can be downloaded for Mac or Windows.

A relatively new company, Binance was founded in 2017 by Changpeng Zhao. After only a year of operations, Binance was considered to be one of the biggest cryptocurrency exchange markets in the world, based on the total trading volume.

To keep up with the growing changes in each country regarding cryptocurrency laws, Binance announced a separate US trading platform after initially having to ban US users late in 2019. 38 per cent of users are located in the United States, while its second-largest country is Japan.

Binance history in a year

  • Binance was founded in 2017

  • Within six months, Binance had 6 million users

  • These first six months also saw the Binance token raise from 10 cents to $13

  • Within a year, Binance grew to have 1.4 million transactions a second

  • By 2018, Binance grew its net worth to about $2 billion

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