What is Binance?
Binance is one of the largest and most popular exchanges for buying and selling cryptocurrencies worldwide. It offers users a variety of services, including trading in a wide range of cryptocurrencies, staking, margin trading, and futures.
Who is the Founder?
Binance was founded by Changpeng Zhao (CZ). Zhao is a well-known figure in the cryptocurrency industry, and the exchange gained rapid popularity.
When Did It Start Operations?
Binance was established in 2017 and became operational in July of the same year.
In Which Countries Is It Banned?
Binance is banned or faces restrictions in several countries. Notable examples include:
- United States: Operates a separate platform called Binance.us.
- China: Cryptocurrency exchanges are banned.
- United Kingdom: The FCA (Financial Conduct Authority) has imposed certain restrictions.
- Other Countries: There are also limitations in countries like Canada, Germany, and Italy.
What Is the Trading Fee?
Trading fees on Binance are generally around 0.1%. However, discounts are available for transactions made using Binance Coin (BNB). Users can also receive lower fees once they reach certain trading volumes.
Is Margin Trading Available?
Yes, Binance offers margin trading. Users can trade with leverage at a certain ratio. Leverage ratios typically range from 2x to 125x, but these rates may vary depending on the asset type and market conditions.
