Binance is the largest cryptocurrency exchange by daily trading volume in the world.
It experienced US $34 trillion in trading volume in 2021.
Founded in China by Changpeng Zhao, also known as CZ, Binance now operates its headquarters out of the Cayman Islands and the Republic of Seychelles.
CZ was a former developer who previously worked with high-frequency trading software.
Binance supports trading more than 600 different cryptocurrencies for non-US traders, and over 100 digital assets for US traders.
The Binance platform (as opposed to the Binanace.us platform) is known for low trading fees, a large number of supported cryptocurrencies, and a large number of order types, including Limit orders, market orders, stop-limit orders, trailing stop orders, post-only orders, peer-to-peer trading, margin trading, and one-cancels-the-other orders.
Because of a 2019 ban of Binance in the United States because of financial regulatory issues, Binance set up Binance.us, a completely separate cryptocurrency exchange registered with the US’s FinCEN regulatory agency, a bureau of the US Department of Treasury.
Binance operates two of its own cryptocurrencies, Binance Coin (BNB) and Binance Smart Chain (BSC).
As of August 2022, Binance has experienced US $34 trillion in trading volume for the year.