Binance came into existence in the year 2017 and in such a short time span it figured at the top position. As a result of some crucial decisions, Binance exchange has registered insane growth. The exchange was founded by Changpeng Zhao and organized an ICO in July 2017 for its BNB token. It led to a rise of whopping $15 million in funding. The decision proved to be quite wise considering the excitement around ICOs during that period. Binance is now believed to be one of the biggest cryptocurrency exchanges in terms of trading volume all across the globe. The Binance Coin known as BNB played a crucial role in determining the explosive growth of Binance in a short period. The token was launched for a small yet important reason and since then, its worth and usefulness have exploded.
Binance has been registered in Malta after making its presence felt in China and Japan. It shifted its base from China and Japan due to stricter regulations. Malta is a crypto heaven for Binance and provides a super-fast exchange. It is now placed in the leading top 10 cryptocurrencies all over the globe. Binance has over 190 altcoins listed on it that are surging with every passing day. Binance also has a global exchange and it has the maximum liquidity. Users hailing from the USA are eligible to sign up for Binance.us while Singapore based users may sign up for Binance Singapore.
The fee structure of Binance is not at all complicated. They have a 0.1 percent standard trading fee which is quite lower than their peers. You may also bring down your fee further if you opt to pay the trading fee in BNB as per the given below structure:
- Binance’s discount rate is 50% in the first year
- 25% in 2nd year
- 12.5% in the 3rd year
- 6.75% in the fourth year, and
- There is no discount in the 5th year
We have put together the ultimate beginner’s guide for understanding and investing in cryptocurrency!
