Based on daily trading volume, Binance is the biggest cryptocurrency exchange in the world. Changpeng Zhao, also known as “CZ,” launched this enormous platform in China in 2017. Since then, it has emerged as a dominant player in the cryptocurrency industry.
Changpeng Zhao, the CEO, had years of experience working at a company that developed high-frequency trading systems for Chinese stockbrokers, giving him a significant competitive advantage. Changpeng Zhao joined the staff of Blockchain.info, a cryptocurrency wallet company, in 2013.
The Binance exchange offers 700+ tokens. Users can buy, trade, and sell about 500 tokens as well as cryptocurrencies with fiat through the Binance Exchange. Approximately 50 tokens can now be traded on Binance.us. Binance also has its own stable coin in the form of Binance USD (BUSD).
Binance charges around 0.10% fee for trading on its platform as well as a 0.50% fee for Instant Buy/Sell, so the actual fee amount will depend on the amount of the trade.