You may have heard different names for it, but they all refer to the same platform — Binance. So what exactly is this platform, and why do so many people use it? After reading this article, you'll understand. If you'd like to try it, register a Binance account and download the Binance APP to get started on your phone.
1. Binance Basic Information
Background
Binance was founded by Changpeng Zhao (CZ) in 2017. The name "Binance" combines "Binary" and "Finance," meaning "digital finance." In less than 10 years, Binance has grown to become the world's largest cryptocurrency exchange by trading volume.
Key Metrics
| Metric | Data |
|---|---|
| Founded | 2017 |
| Registered Users | Over 180 million |
| Daily Trading Volume | Over $70 billion |
| Supported Coins | 350+ |
| Employees | Thousands (globally distributed) |
| Supported Languages | 40+ |
| Supported Fiat Currencies | 60+ |
2. What Can You Do on Binance?
1. Buy and Sell Crypto
The most basic function. You can buy Bitcoin, Ethereum, and other cryptocurrencies, freely exchange between 350+ coins, and sell anytime.
2. Futures Trading
For experienced traders: perpetual contracts (no expiry), delivery contracts, up to 125x leverage, long and short positions.
3. Earn Interest
Deposit crypto on Binance to earn: flexible savings, fixed-term savings, Launchpool, and dual investment products.
4. C2C Trading
Peer-to-peer trading: buy crypto with bank cards or other payment methods, sell crypto for fiat, zero platform fees, with escrow protection.
5. Other Features
NFT marketplace, Web3 wallet, Binance Pay, copy trading, strategy trading (grid, DCA, etc.)
3. Why Is Binance So Popular?
1. Security — SAFU fund, multi-factor authentication, cold/hot wallet separation, AI-driven risk detection
2. Best Liquidity — #1 trading volume globally means tight spreads and instant execution
3. Competitive Fees — 0.1% spot fee (0.025% with BNB), 0.02%/0.05% futures, zero C2C fee
4. Most Comprehensive Features — From basic trading to advanced derivatives, earn products, NFTs, and more
4. What Is BNB?
BNB is Binance's native platform token ("Build and Build").
Uses: Fee discounts, Launchpad participation, Launchpool staking, payments, and BNB Chain ecosystem DeFi applications.
BNB ranks in the top 5 cryptocurrencies by market cap.
5. How to Get Started
- Register: Use email or phone number, set a strong password
- Identity Verification: Submit ID documents for KYC
- Security Setup: Enable Google Authenticator and other measures
- Buy Crypto: Purchase USDT or other crypto via C2C
- Start Trading or Earning: Trade on spot markets or deposit into earn products
6. Important Notes
Security
- Always enable two-factor authentication
- Never share verification codes
- Regularly check account security
- Transfer large holdings to cold wallets
Trading
- Start with spot trading as a beginner
- Don't jump into futures and leverage immediately
- Only invest spare money
- Set stop-losses to control risk
Legal
- Understand your local regulations
- Invest legally and compliantly
- Be aware of local tax requirements on profits
Binance, as the world's largest cryptocurrency exchange, provides comprehensive, secure, and convenient services. Whether you want to invest in Bitcoin or dive deep into crypto trading, Binance is a trustworthy starting point.