What is Binance

Binance is one of the blockchain trading platforms with low transaction fees, high liquidity, and provides services surrounding cryptocurrency trading, listing, fundraising, delisting or withdrawal .

Binance is one of the blockchain trading platforms, founded by Changpeng Zhao.

Binance Exchange (Binance), due to low transaction fees, high liquidity, and if users use Binance to trade Binance Coin (BNB) (Binance Exchange launched its own Cryptocurrencies), will receive additional discounts. Binance exchange has gained popularity among the majority of cryptocurrency investors, mainly because it is very easy to convert cryptocurrencies into other cryptocurrencies, i.e. trading in two cryptocurrencies is very convenient.

The name “Binance” is based on the combination of the words binary and finance. Its currency exchange service was launched in 2017. It has a multi-tier and multi-cluster architecture, high standards of security, and high processing throughput, processing approximately 1.4 million orders per second. It supports trading in over 150 cryptocurrencies, including popular ones like Bitcoin, Ethereum, Litecoin, and its own BNB token, and the variety of tradable currencies continues to grow.

Like a standard exchange, it provides services surrounding the trading, listing, fundraising, delisting or withdrawal of cryptocurrencies. Cryptocurrency enthusiasts willing to issue their own tokens can use Binance to raise funds through an initial coin offering (ICO). Binance is used by a large number of traders and participants to exchange and invest in various cryptocurrencies.

To start trading, users must complete the necessary Know Your Client (KYC) requirements. After successfully creating a trading account, users can add cryptocurrency funds to the wallet address provided by Binance to start trading.

Binance currently supports three types of trading orders: Limit, Market and Stop Limit Orders: - Limit orders are executed only at the limit price set by the trader - Market orders are executed immediately at the best available market Price Execution - Stop-loss limit orders are only valid when price reaches a specified level

There are no fees for cryptocurrency/fund deposits, although withdrawals will come with trading fees, depending on the cryptocurrency.

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