As far as cryptocurrency exchanges are concerned, Binance is the number one exchange in the industry. It was founded by a Chinese called Changpeng Zhao in the year 2017, and ever since then, to date, Changpeng Zhao has remained the Chief executive officer of the exchange. The Binance office is currently based in Tokyo, Japan’s capital, after it was moved from China as a result of regulatory issues. Unlike other exchanges that do not fully support multiple altcoins, Binance does exactly that, and this has made the exchange to be attracted to a lot of crypto investors.
Apart from the opportunity clients have to take part in multiple altcoins in Binance, the exchange also allows them to access some other financial services like lending and staking services, margin trading, etc. Recently, the exchange launched black-box blockchain, Binance chain, and Binance decentralized exchange and is of no doubt that it will continue to build new products and expand its services for its clients. Another arm of this globally leading cryptocurrency exchange is the Binance charity that is overseeing the welfare of poor people from Bitcoins donation.
Changpeng Zhao, the founder and the CEO of the firm, had incorporated Binance into many business lines all over the world, giving so much resilience to the firm. In the industry, Binance is known for its quick adaptation to changing regulations. Indian’s biggest cryptocurrency exchange known as WazirX, was acquired by Binance. Also, In 2019, Binance joined partnership with Simplex, an Isreal based payment processor. This was to allow for cryptocurrencies purchase with the use of both the debit cards and the credit cards, visa and MasterCard inclusive. This feature was only limited to Bitcoin, Ethereum, Litcoin, and Ripples XRP. However, the purchases made were fully subjected to Simplex local bank policies.
