Binance is a cryptocurrency exchange and blockchain ecosystem that offers trading and various crypto-related financial services. It is widely regarded as the largest crypto exchange in the world by trading volume and user count.wikipedia+1
Basic overview
- Binance was founded in 2017 by Changpeng Zhao (“CZ”) and quickly grew into the top global crypto exchange by daily trading volume.wikipedia
- It allows users to buy, sell, and trade hundreds of cryptocurrencies across spot, margin, and derivatives markets.binance+1
- The platform serves users in over 180 countries and supports 500+ cryptocurrencies and more than 1,500 trading pairs.coinmarketcap+1
Main products and services
- Spot and margin trading: Standard crypto trading pairs (e.g., BTC/USDT, ETH/USDT) with low base fees around 0.1% and optional margin leverage.coinspeaker+2
- Derivatives (futures & options): Perpetual and delivery futures plus options with leverage up to around 150x on major pairs.binance+2
- P2P trading: Peer‑to‑peer marketplace to buy and sell crypto directly with local payment methods and fiat currencies.coinspeaker+1
- Earn/DeFi products: Savings, staking, liquidity farming, dual investments, and other yield products for passive income on crypto holdings.binance+2
BNB and BNB Chain
- Binance has a native token called BNB, originally an ERC‑20 token and now the main asset of the BNB Chain (Binance’s own blockchain network).simplilearn+1
- BNB is used to pay trading fees at a discount, participate in token sales, and access DeFi, dApps, and other services in the BNB Chain ecosystem.calebandbrown+1
- BNB uses an auto‑burn mechanism that periodically reduces its supply until it reaches 100 million BNB.calebandbrown
Ecosystem beyond the exchange
- Binance has expanded into a broader ecosystem: wallet services, Binance Pay (crypto payments), educational content via Binance Academy, research reports, and launch platforms for new tokens.binance+2
- There is also a separate platform branded for the U.S. market (Binance.US), which is tailored to U.S. regulations and offers trading and staking for selected assets.binance
If you share how you plan to use Binance (trading, staking, P2P, etc.), a more tailored explanation or risk-focused checklist can be provided.
- https://en.wikipedia.org/wiki/Binance
- https://www.binance.com/en
- https://www.binance.com/en/about
- https://www.bso.co/glossary/what-is-binance
- https://www.simplilearn.com/tutorials/blockchain-tutorial/what-is-binance
- https://www.coinspeaker.com/reviews/binance-review/
- https://coinmarketcap.com/exchanges/binance/
- https://calebandbrown.com/blog/what-is-bnb/
- https://www.binance.us
- https://www.youtube.com/watch?v=rjaFZQY0ykk