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Binance

World's largest cryptocurrency exchange by trading volume, offering spot, futures, savings, and staking options.

Founded 2017•HQ: Global•Employees: ~8,000•Official Site →
EXCHANGE

Key Facts

Founded
2017
Headquarters
Global (registered in Cayman Islands)
CEO (2024)
Richard Teng
Users
170M+ registered
Coins Listed
350+
Est. 24h Volume
$2B+
Trading Fees
0.1% standard (lower with BNB)
KYC Required
Yes (mandatory since 2021)

Exchange Statistics

Trust Score
8.9/10
Est. 24h Volume
$2.00B
Trading Pairs
1,500+
KYC
Required
Fee structure: 0.1% Standard Fee

About Binance

Binance is the world's largest cryptocurrency exchange by trading volume, founded in 2017 by Changpeng Zhao (CZ) and Yi He. Launched in China before relocating operations globally, Binance grew rapidly by offering an extensive list of trading pairs, low fees, and a native utility token (BNB) that provided fee discounts.

Beyond spot trading, Binance expanded into futures, options, savings, staking, NFTs, and its own blockchain ecosystem — BNB Chain (formerly Binance Smart Chain). The exchange also operates Binance Academy, a free crypto education platform, and the Binance Charity Foundation.

In 2023, Binance and its former CEO Changpeng Zhao reached a settlement with the U.S. Department of Justice, with Zhao stepping down and Richard Teng becoming the new CEO. Despite the regulatory challenges, Binance remains the dominant global exchange by volume and user base.

Binance serves over 170 million registered users in more than 100 countries and consistently accounts for more than 40% of global spot crypto trading volume.

Products & Services

Binance Spot
Spot trading for 350+ cryptocurrencies with advanced charting and order types.
Binance Futures
Perpetual and quarterly futures contracts with up to 125x leverage on major assets.
Binance Earn
Savings, staking, liquidity farming, and structured products to generate yield on idle crypto.
Binance Launchpad
Token launch platform for new crypto projects, giving BNB holders early access to new listings.
BNB Chain
Binance-backed EVM-compatible blockchain with low fees and a large DeFi/gaming ecosystem.
Binance Academy
Free blockchain and cryptocurrency education platform covering beginner to advanced topics.
Trust Wallet
Non-custodial mobile wallet supporting 10M+ assets across 100+ blockchains, acquired by Binance in 2018.

Regulatory Status

Binance has faced significant regulatory challenges globally. Following a 2023 DOJ settlement, Binance agreed to pay $4.3B in fines and implement enhanced compliance measures. Binance.com is not available to U.S. residents; Binance.US operates as a separate entity for the American market.

LICENSED / REGISTERED IN
  • France (AMF registered)
  • UAE (VARA licensed)
  • Bahrain (CBB licensed)
  • Kazakhstan
  • El Salvador
  • South Africa
RESTRICTED / UNAVAILABLE
  • United States (Binance.com restricted; Binance.US separate entity)
  • United Kingdom (FCA warning)
  • Ontario, Canada

Company Timeline

2017Founded by Changpeng Zhao and Yi He; ICO raised $15M in 15 days
2018Became world's largest crypto exchange by volume within 6 months of launch; acquired Trust Wallet
2019Launched Binance DEX and Binance Chain (now BNB Beacon Chain)
2020Launched Binance Smart Chain (BSC), enabling low-cost DeFi applications
2021BSC DeFi TVL surpassed $30B; Binance NFT marketplace launched; faced global regulatory scrutiny
2022Binance.US failed attempt to acquire FTX during FTX collapse; CZ positioned as industry stabilizer
2023DOJ settlement: $4.3B fine, CZ pleaded guilty to AML violations; Richard Teng became CEO
2024CZ sentenced to 4 months in federal prison; Binance continued operations under new leadership

Frequently Asked Questions

What is Binance?
Binance is the world's largest cryptocurrency exchange by trading volume, founded in 2017 by Changpeng Zhao (CZ) and Yi He. Launched in China before relocating operations globally, Binance grew rapidly by offering an extensive list of trading pairs, low fees, and a native utility token (BNB) that pr Binance provides spot trading, derivatives, and digital asset services to users worldwide.
Is Binance safe to use?
Binance employs industry-standard security including two-factor authentication (2FA), cold storage for the majority of funds, and regular security audits. Users should enable all available security features and use hardware wallets for large holdings.
What are Binance's trading fees?
Binance charges 0.1% Standard Fee. Fee tiers may be reduced based on 30-day trading volume or native token holdings.
Does Binance require identity verification?
KYC verification is required to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations in supported jurisdictions.
Which countries does Binance support?
Binance serves users in most countries worldwide, though availability varies by jurisdiction due to local regulatory requirements. Users should check Binance's official website for the latest list of supported regions.