The user’s USD-wallet in personal account is a simulation wallet. Buying and selling coins in indexes, gains or losses thereon is a virtual simulation. We are not able to conduct any transactions with the currency.
Binance exchange overview
Binance is an international cryptocurrency platform. It was founded in June 2017 by Changpeng Zhao and Binance Holdings Ltd from China. The exchange was officially launched in July 2017 after ICO, which raised $15 million for the company. The first headquarters was located in Hong Kong. In March 2018, the company moved to Malta, and now Binance has four more offices in other countries. The company operates under the Maltese MFSA licence and complies with KYC and AML procedures. In addition to the cryptocurrencies, the exchange supports the deposit and withdrawal of five fiat currencies, as well as trading pairs with four fiat currencies. In the course of its ICO, Binance created its own token BNB. Then, in August 2019, it developed stablecoins pegged to GBP, BTC, and USD. In January 2019, the platform launched over-the-counter (OTC) trading in large sums. In July 2019, margin trading with up to 5x leverage became available, and in September, cryptocurrency futures trading was introduced. The company has also created four useful services for crypto professionals and five non-commercial projects for enthusiasts and beginners.
Binance advantages
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Five exchanges within the ecosystem: basic, advanced, decentralized, European, and American.
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The most dynamic platform: it became one of the top 3 in terms of several parameters in just one year.
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Native tokens: BNB, stablecoins BGBP, BTCB, BUSD.
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Trading pairs with currencies EUR, GBP, RUB, NGN, stablecoins USDT, BUSD, PAX, TUSD, USDC, USDS.
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The website has 16 locales.
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Deposit and withdrawal are available both in cryptocurrencies and 5 fiat currencies (EUR, GBP, RUB, NGN, TRY).
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Trading commissions: 0.02–0.10% for makers, 0.04–0.10% for takers (depending on the monthly turnover).
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When using the BNB token, there is a discount on the trading commission.
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Minimum commissions on the cryptocurrency withdrawal, for example: 0.0005 BTC, 0.01 ETH, 0.001 LTC.
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Referral program: 20–40% of the commission collected from referred clients.
Track record
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February 2018: launch of the rating portal Binance Info.
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March 2018: launch of the testnet Binance Chain.
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July 2018: acquisition of Trust Wallet.
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August 2018: launch of the online educational source Binance Academy.
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October 2018: launch of the Binance Labs venture business incubator.
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October 2018: creation of the non-profit foundation Binance Charity to fight poverty with blockchain.
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December 2018: launch of the analytic division Binance Research.
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January 2019: launch of the Binance Launchpad platform for ICO and IEO.
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January 2019: establishment of the subsidiary exchange Binance Jersey (for the European market).
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February 2019: launch of the decentralized exchange Binance DEX.
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April 2019: release of the mainnet Binance Chain.
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August 2019: launch of the developer engagement and support program Binance X.
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September 2019: collaboration with BAM Trading Services and establishment of the subsidiary exchange Binance US (for the US market).
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November 2019: collaboration with HTC for production of a limited edition smartphone Exodus 1 — Binance Edition.