Binance Review

Positioned as the world’s largest exchange, Binance is a platform for you to buy and sell cryptocurrencies. Changpeng Zhao and Yi He are its founders.

Binance came into the market in 2017, and, to date, it has raised funding of $35 million from ten funding rounds and a total of 13 investors.

While Karnika Yashwant and Vertex Ventures Southeast Asia and India are its most recent investors, Binance received funding from Chris McCann, Plutus21, Black Hole Capital, Funcity Capital, Sequoia Capital, and Limitless Crypto Investments as well. The last funding round happened on December 1st, 2020.

In a short span, Binance has made some vital acquisitions as well. It has acquired Swipe.io, CoinmarketCap, BxB, DappReview, WazirX, JEX, and Trust Wallet. It has also made 49 investments. As an investor, Binance has also made a successful exit from BxB, the company behind KRWb, a stable bridge from Korea to anywhere, backed by a globally accessible 1:1 stable coin supported by the Korean Won.

Binance’s product suite constitutes an entire crypto product ecosystem, including an exchange, an academy, the Binance Card, Binance Labs, Binance launchpad, Binance Research, Binance NFT, Binance NFT, Binance featured market, and Binance pay.

The Binance app is suitable for trading crypto from anywhere in the world. You can download the app from the iOS app store or Google Play Store. It also has an Android APK. The app is compatible with multiple operating systems and devices. It works both on macOS, Windows, and Linux. Moreover, you can also scan the QR code on the Binance website to download the app on your iOS or Android device.

The Binance exchange supports a host of assets for trade, including all the popular crypto-assets and high potential ones. The list of Binance-compatible crypto assets includes Bitcoin, Ethereum, Chiliz, Filecoin, Cardano ADA, and many more. Binance also has its own native token BNB that we will be discussing in a later segment.

Binance also has a full-fledged knowledge dissemination platform on its website, Binance Academy, where a newly initiated crypto trader can learn everything about mining. An experienced investor can leverage the academy to devise a new strategy.

Binance also has a Charity Foundation that explores the power of blockchain to address issues like poverty, inequality, and the health of the planet and its people.

To date, the charity has raised 2,352 BTC worth of donations, equivalent to $93,593,110 USD. The number of beneficiaries to receive the advantages of these donations is more than 937,000.

While most exchanges provide an avenue to buy and sell crypto assets, Binance goes a step further and makes arrangements for its users to seamlessly leverage their assets in the market.

With the help of the Binance Card, one can spend their favorite cryptocurrency at more than 60 million merchants across the world. All one needs to do is transfer their crypto assets from their spot wallet to the funding wallet. The Binance Visa card is completely free for use. It does not charge any administrative or processing fees. For successful purchases with the card, users qualify for up to 8% cashback. The funds enjoy the highest security standards available through Binance SAFU, Secure Asset Fund for Users.

Binance also invests in new technologies through Binance Labs in over 25 countries across more than five continents. Binance Labs has invested in over 100 projects which include blockchain entrepreneurs, startups, and communities. It aims to expand the larger blockchain ecosystem.

Binance also has its token launch platform where interested investors can buy or earn new tokens directly, and projects can launch their coins. To date, Binance has facilitated the launch of 48 projects, helping them raise more than $94.5 million.

The Binance Trust Wallet is one of the most well-known, trusted, and secure crypto wallets in the market. Users can buy, store and collect NFTs and exchange and earn crypto. More than 10 million people use Trust Wallet, available for download on the iOS app store, Google Play store, and Android APK.

Recently, Binance has also launched its Marketplace, which allows its users to buy NFTs with BUSD, BNB, ETH, and more.

BNB is the native token of the platform. It has a supply of more than 168 million tokens. The BNB coin attained its all-time high on May 10th, 2021 at $690.93.