What is Binance?

Binance Exchange is a leading cryptocurrency exchange that was founded in Hong Kong in 2017. It focuses heavily on altcoin trading.

The Binance Exchange: An Overview

The Binance exchange, best known for crypto-to-crypto trading (trading between two cryptocurrency pairs), has one of the lowest transaction fees among cryptocurrency exchanges. It has a high liquidity and offers discounts to users who pay in BNB cryptocurrency tokens.

The name “Binance” is a combination of the words “bitcoin” and “finance,” and it claims to have high standards of safety and security, as well as a multi-tier and multi-clustered architecture that delivers high processing throughput (it claims to be able to process around 1.4 million orders per second). It accepts more than 600 coins for trading, including bitcoin, ethereum, litecoin, and its own native BNB tokens.

Trading on Binance

Binance, like other cryptocurrency exchanges, provides services related to cryptocurrency trading, listing, fundraising, and de-listing or withdrawal. Binance can be used by cryptocurrency enthusiasts who want to launch their own tokens to raise funds through initial coin offerings (ICOs). A large number of traders and participants use Binance to exchange and invest in various cryptocurrencies.

Users must first complete the necessary KYC requirements before they can begin trading. After successfully creating a trading account, users can begin trading by depositing cryptocurrency funds into their Binance-provided public wallet address.

The Binance exchange accepts three types of trade orders: limit orders, market orders, and stop-limit orders. Limit orders are only executed at the limit price specified by the trader. Market orders are immediately executed at the best available market price. Only when the price reaches a certain level do stop limit orders become valid.


Binance provides crypto-to-crypto trading in over 600 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own Binance Coin (BNB).

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