Founded year: 2018
Credited votes: 24 of 24
Problems resolved: 0
Owners responses: 0
4.58
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.

Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software. Binance was initially based in China, but later moved out of China due to China's increasing regulation of cryptocurrency.

History
CEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for brokers. In 2013 he joined Blockchain.info as the third member of the cryptocurrency wallet’s team. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets.

The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017.[3] By March 2018 the company had established offices in Taiwan.

As of January 2018 it was largest cryptocurrency exchange with a market capitalization of $1.3 billion.

In March 2018, Binance announced its intentions to open an office in Malta after stricter regulations in Japan and China.[5] In April 2018, Binance signed a Memorandum of Understanding (MoU) with the Government of Bermuda. Months later, a similar memorandum was signed with the Malta Stock Exchange to develop a platform for trading security tokens. In 2019, company announced Binance Jersey, an independent entity from its parent Binance.com exchange, with the aim to expand its European influence. Jersey based exchange offers fiat-to-cryptocurrency pairs, including the Euro and the British pound.

In August 2018, Binance along with three other big exchanges raised $32 million for a stable coin project. The idea of stable coins is to provide a cryptocurrency without the notorious volatility of Bitcoin and other popular digital assets.

In January 2019, Binance announced that it had partnered with Israel-based payment processor Simplex to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard. The purchases are subject to Simplex’s local bank policies and are limited to Bitcoin, Ethereum, Litecoin and Ripple’s XRP.

On May 7, 2019, Binance revealed that it had been the victim of a “large scale security breach” in which hackers had stolen 7,000 Bitcoin worth around U.S.$40 million at the time. Binance CEO Changpeng Zhao said the hackers “used a variety of techniques, including phishing, viruses and other attacks” and structured their transaction “in a way that passed our existing security checks.” Binance halted further withdrawals and deposits but allowed trading to continue. The site pledged to reimburse customers through its secure asset fund.

In September 2019, the exchange began offering perpetual futures contracts, allowing leverage as high as 125 times the value of the contracts. In November 2019, Binance acquired Indian bitcoin exchange WazirX.

On February 21, 2020, the Malta Financial Services Authority issued a public statement responding to media reports referring to Binance as a ‘Malta-based cryptocurrency’ company. The statement noted that Binance “is not authorized by the MFSA to operate in the cryptocurrency sphere and is therefore not subject to regulatory oversight by the MFSA.” The MFSA added that it was “assessing if Binance has any activities in Malta which may not fall within the realm of regulatory oversight.”

On October 28, 2020, Forbes staff released leaked documents alleging that Binance and Changpeng Zhao (also known as CZ) created an elaborate corporate structure designed to intentionally deceive United States regulators and secretly profit from cryptocurrency investors.
- wikipedia
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High liquidity

Score
5
approved
Nothing other than high liquidity. I appreciate that I have to use 150 characters so I’m just using this sentence as a filler to meet the minimum requirement for the number of characters in this review 
30.05.2021 20:54
0

Best exchange binance

Score
5
approved
Best crypto exchange which is safe and easy to use. Its not only free from scam but also very authentic. I had very good experience with this exchange
02.05.2021 12:29
0

not so like binance

Score
1
approved
binance will look down on other coin and beat their opponent by manupulating the ranking in coinmarketcap. those coin above 200 is their target coin. they dun state the reason for manipulating the ranking
22.04.2021 06:32
0

Binance my best exchange

Score
5
approved
Binance in my own opinion is the best exchange out there, even though i haven't tried all the exchanges out there on the internet. In terms of services, binance offers a great deal of service to its customers. More so, I think binance is pretty much secure than any exchange. I can buy and hold assets in binance spot without any fear of losing my assets. Binance's products are easily accessible at all times without any hassle. Trading on binance has been hassle free ever since I started. My greatest hope is to see binance advance to a greater height in the future. I would always recommend Binance to friends and family, because I enjoy their services.
20.04.2021 22:38
0

Competition does not even come close

Score
5
approved
Has it all: earning, stock tokens, leveraged tokens, staking, flexible earning, launchpad, etc etc etc. Intuitive slick interface. Used kraken and Kucoin before and they are not in same league
20.04.2021 05:55
0

SIMPLE AND SPEED

Score
5
approved
Safe, simple and more launchpad project event, low fees, more crypto choice, best user interface, more secure, margin trade is the best choice to trade and simple
19.04.2021 04:24
0

It's binance

Score
5
approved
It's binance What can I say That hasn't been said? Easy to use, savings plan are amazing and coin value goes up for holders. The smart chain is exceptional and will be the #1 cryptocurrency in a few years. I have been a memeber for only a few months but I can see me in this space and on this platform for a very long long time Just give them the award sowe can all go home.
18.04.2021 16:40
0

The most advanced exchange in terms of features

Score
5
approved
I like the fact that they keep innovating and adding new features as well as supporting new projects. Fees are reasonable but could be improved by making it easier to go from VIP level 0 to 1. Would also be good to allow sub account from the lowest level.
18.04.2021 12:19
0

best exchange

Score
5
approved
always building new stuff, funds are safe, ceo is active, he is pushing new projects like sxp or the card. best ghings to get crypto adoption worldwide
18.04.2021 05:27
0

Binance not lacking much

Score
5
approved
Binance is not lacking much. I think there's very little more one can insist an Exchange offer. It's a leader in almost everything and is a pleasure to use.
17.04.2021 17:51
0
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