That way we will never be affected by one regulatory body,” explained Zhao. So we are registered in multiple locations and we have people in multiple locations. “In response to China’s decisions, we are moving our IP’s from Hong Kong to an offshore location. Zhao’s CV includes high-profile positions, such as technical director at, and his company now provides trading systems for over 30 other platforms.įollowing struggles with the Chinese government’s views on cryptocurrencies, Binance now runs its servers from more lenient states, providing it with the freedom to run a competitive exchange service: BNB’s initial value was around $0.1, and has continued to appreciate with the rise of Binance and BNB chain.īeijie Technology and its founder maintain an impressive track record within the industry. BNB is now also used to power BNB Chain, formerly known as Binance Smart Chain. Investors who invested in Binance’s ICO got Binance Coin (BNB) in return, which could be used to trade cryptocurrencies and pay for fees on Binance. Having originally been based in China, Binance moved headquarters to the Cayman Islands following the Chinese government’s increasing regulation of the cryptocurrency industry. Zhao’s company Beijie Technology created the exchange after a successful ICO that raised $15 million. Here’s what I’ll cover:īinance is a cryptocurrency exchange that was founded in 2017 by Chinese-Canadian developer, Changpeng Zhao (aka CZ).
If you want a detailed review of Binance, keep on reading. US users must trade on Binance-US, which differs slightly from the Binance service available to the rest of the world – however it is much more compatible with US trade regulations.
The exchange has also partnered with 3rd party companies such as Simplex, to allow credit card and wire transfer purchases of cryptocurrencies at a premium.
The platform accepts users from around the world and has received favorable reviews from the crypto community. Whether you’re a beginner or a seasoned trader looking to trade crypto, this is probably the easiest and cheapest way to go. Binance is a crypto trading platform that offers some of the most competitive fees around.
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