Binance - The #1 Crypto Exchange in the World
Binance does more volume than Coinbase globally.
Concise Crypto
June 03, 2022
Binance (BNB)
What is Binance?
Binance is a centralized cryptocurrency exchange that allows you to buy, sell, and trade up to nearly 600 cryptocurrencies and tokens. It is the largest exchange in the world in terms of trading volume and has been in operation for over 4 years. Binance is praised for it’s low fees and extensive crypto offerings. Globally, Binance has a huge footprint but is restricted in the United States. Binance.US only offers 60 coins for buy, sell, and trade.
Why does Binance have value?
Binance provides value to users in a number of ways. First, it offers many tokens and coins to trade and invest in. Second, it runs its own smart contract platform called Binance Smart Chain which allows for new token launches and a variety of applications including DeFi, NFT’s, and more.
What are the Pros of Binance?
· Low fees.
· Many coin options.
· High liquidity because of the strong volume exchanged on the chain.
What are the Cons of Binance?
· Centralized.
· Not many options available to U.S. residents.
What are BNB’s tokenomics?
BNB was originally launched with a total supply of 200 million coins with 50% being allocated for an ICO, 40% allocated to the founding team, and 10% allocated to angel investors. Binance has implemented a strategy to #burn coins each quarter until they eliminate 50% of the supply (100 million coins).
Who founded Binance?
Changpeng Zhao ‘CZ’
Who are Binance’s investors?
Initial coin offering and Multi-coin capital, LuneX Ventures, and M31 Capital
Concise Crypto Grade:
A :Binance is the leading exchange globally for a reason. It offers users all kinds of choices for investments, it’s user interface is super clean, it has amazing analytics and educational material, plus it has high liquidity so you can feel comfortable in nearly any trade that you make. Binance and Binance.US will continue to be one of the top, if not the top, central exchange in the entire crypto industry.
Where Can I buy BNB?
Binance, KuCoin, FTX
What ecosystem does BNB run on?
Binance Smart Chain