Cryptocurrency exchange history and facts
CEO: Changpeng Zhao
Based in: Hongkong, HK
Founded: 27 June 2017
Best known for: Cryptocurrency exchange platform
Traded on: Privately held
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