Binance is a world-class blockchain company comprised of the Binance Cryptocurrency Exchange. Binance Info, Binance Labs, Binance Launchpad and various other cryptocurrency-related functions.
Binance has offices in Tokyo, Hong Kong, Shanghai, Singapore, Europe, South America and more. With users spread across over 180 different countries worldwide. Binance Exchange provides cryptocurrency trading for fintech and blockchain enthusiasts globally with multi-lingual support over a variety of services. Binance Exchange was launched in mid-July 2017 and has already successfully positioned itself as a steady top ten exchange by 24-hour trading volume at times even surging into the top 4. This was achieved within just 3 months of its launch.
Binance Exchange currently has BNB, ETC, ETH and USDT markets available and provides exchange services for a wide range of the most popular cryptocurrencies. It also hosts the Binance.com website in multiple languages including English, Japanese, Chinese, Korean, Russian and Spanish with more to be added in the future. Binance Exchange supports multiple platforms with compatibility across devices including Web, Android/IOS, Mobile HTML5 and Windows/Mac clients in order to fulfill multi-dimensional trading requirements for all users.
Binance’s matching engine is capable of sustaining 1.4 million orders per second, as well as 20 million simultaneous users on the platform. Their customer service is also available 24/7 for both Chinese and English speakers to quickly resolve any issues their users may have. Since it’s ICO, Binance issued its own token called the Binance Coin with BNB as the symbol. BNB runs natively on the Ethereum blockchain and follows the ERC-20 token standard. The token was established with a total supply of 200 million with current circulation supply of 120 million. Binance has steadily positioned itself within the top 50 cryptocurrencies by market capitalization, even reaching the top 20 at their highest point and continues to receive unwavering support from their fans from across over 180 countries worldwide.
The BNB token itself has multiple forms of utility, essentially being the underlying gas that powers the Binance Ecosystem. The current most prominent use cases include BNB to pay for trading fees on the exchange, obtaining the equivalent of a 50% discount on trades. Invest in ICO projects on the Binance Launchpad and pay for service and advertising fees on the Binance Info platform; with many more to come. As per their whitepaper, Binance plans to use 20% of their profits to buy back and burn BNB until 50% of the total BNB supply (100 million) is burned.
They expect this initiative to provide steady value accretion for their investors over time. Binance’s core team members come from various backgrounds, including Bloomberg, Blockchain.info, Morgan Stanley, Nomura Securities and other world-renowned companies.
Binance has also developed a Binance Angel Platform with Angels located in over 30 countries around the world. This is a passionate group dedicated to helping Binancians and foster awareness of Binance on a global scale. Binance is endeavoring to build a blockchain-centric ecosystem comprised of a Binance Exchange Platform, a media and information platform, an incubation and investment platform as well as various other functions.