Binance is a leading cryptocurrency exchange and all-around ecosystem supporter for the blockchain space. Since launching as a token-to-token exchange for users to buy and sell cryptocurrencies, Binance improved their trading experience by offering basic or advanced spot trading, margin trading, futures trading and fiat onramps which allow users to buy cryptocurrency with ACH deposits, wire transfers, debit or credit cards. As Binance has grown, its products have expanded far beyond trading, and their offerings now include:

In 2019 Binance released their own blockchain – Binance Chain – that is powered by its native token – Binance Coin (BNB). Initially, the primary use case for BNB was reduced trading fees. While reduced trading fees is still a feature of BNB, there are more use cases including payments and loan collateral on various lending platforms.

Binance.us Referral ID (United States)

New users can use our Binance.us referral ID when signing up for $15 dollars (after trading over $100 worth of cryptocurrency) and 30 days of zero-fee trading!

Binance.US Referral ID35002704
Binance.us Sign-up BonusGet $15 on sign-up when you trade over $100 in cryptocurrency. Also get 30 days with zero trading fees!
Last VerifiedMay 2020

Binance.com Referral ID (Outside of US)

New users can use our Binance.com referral ID when signing up and get 20% of their trading fees back!

Binance.com Referral IDYRLZWKEB
Binance.com Sign-up BonusGet 20% of your trade fees back!
Last VerifiedApril 2020

Binance vs Binance US

With Binance’s rapid growth, they faced increasing regulatory pressure and decided to restrict access to their main Binance.com exchange for US traders in Summer 2019. To accommodate these traders they built Binance US, an exchange compliant with United States regulations and available in all states excluding AL, AK, CT, FL, GA, HI, ID, LA, NY, NC, TX, VT, and WA. The primary differences for Binance US are fewer trading pairs and no margin trading.

Despite these shortcomings, Binance US offers a swift onramp to traders as funds deposited to the exchange are available for use instantaneously, as opposed to deposits on an exchange like Coinbase which have been known to take 5-7 business days to land in the account.

Background

Binance was launched in July 2017 and is led by CEO Changpeng Zhao (CZ), who’s background includes building software for brokers and exchanges. His first blockchain experience came in

2013 when he worked for a wallet app blockchain.io, and later on he co-founded the Chinese exchange OkCoin.

Binance conducted an ICO which began on June 26, 2017 and ended in just 7 days, bringing in a total of $15M. The base rate for BNB was set at $0.1 per token, with a maximum of 200M BNB offered in the sale.

The circulating supply of BNB is reduced through quarterly coin burns. BNB was initially launched as an ERC20 token on Ethereum, and has since been swapped to the BEP2 token standard on Binance Chain.

Why Binance?

Binance has emerged as a leader in the cryptocurrency and blockchain space for a variety of reasons.

Incentives

By incentivizing trading with trading discounts and strong BNB token economics, Binance was able to respond well to market volatility by expanding their staff – specifically in regards to technical and customer support demands.

Security

Binance places a strong emphasis on the security of both funds and user data. They have met security standards set out by the International Organization for Standardization (ISO) and were awarded an information security accreditation after audits of 114 criteria in 14 categories. Many exchanges were overwhelmed in the 2017 bull run and lost trust from their users, while Binance was prepared to handle it well and got rewarded in the form of enhanced usage by doing so.

Diversity

Binance’s ever-growing suite of products, spirit of innovation, and commitment to giving back to the crypto community are other forces behind the growth into an industry-leading company. The team has repeatedly shown that their motivation goes deeper than profit, and they genuinely want to help others in the industry succeed and make the world a better place.

Ecosystem Growth

Binance was one of the first exchanges to create an incubator to help other projects get off the ground, and their charity uses blockchain to transparently raise and distribute money for the world’s most pressing issues like the Covid-19 pandemic.

DeFi-Like Features

Binance offers both lending and staking functionality for users to benefit from. With lending, users can take advantage of flexible deposits for a select group of tokens, receiving an annualized return in exchange. Binance also offers a fixed deposit option,  requiring users to lock up stablecoins like Tether and BUSD for a specific amount of time (between 7-90 days) in return for higher interest rates.

Binance users can also earn rewards through staking. Many tokens use a staking mechanism to help secure their network, and Binance makes it easy for users to see what the estimated reward is and begin staking. There is also an easy way to track the staking rewards received over time, across all staked tokens.

Binance began allowing users to trade on margin 2019. After passing KYC requirements, users can transfer BNB to their margin wallet as collateral to borrow a variety of tokens at a fixed rate of 5:1. The user must repay the borrowed funds plus interest, and the interest rate for each token updates every hour.

Other Products & Features

Beyond the DeFi-like features listed above, Binance boasts an impressive suite of products outlined in the introduction that complement their exchange business.

The academy is focused on concise and easy to digest educational material – a vital part of new industries such as crypto. The categories within the academy are Blockchain, Economics, Security, and Tutorials, with articles and videos catering to all skill levels within each category. The academy also contains quizzes, a crypto glossary, and a mechanism to propose and vote on new features for the academy.

Binance Info & Binance Research are home to institutional-grade research reports on most well-known projects. Binance Info contains data on all coins listed on Binance and in-depth analysis and reports from both Binance and third parties. Binance Research is where analysis, market/global insights, and unbiased industry information are shared with the public.

Binance Labs is the venture arm of Binance, established to support blockchain and cryptocurrency entrepreneurs with an incubator program or direct investment. Their mission is “to support industry projects that help grow the larger blockchain ecosystem, realizing the full potential of blockchain technology and its social impact, while increasing cryptocurrency adoption globally.” Entrepreneurs can apply for the 10 week on-site incubator program here or apply for direct funding on a project with this form.

Binance Launchpad is a token launch platform that helps blockchain startups raise money to develop products that drive the industry forward. The notoriety of Binance helps these startups reach a broader audience and get their projects off the ground.

How to Get Involved?

To get started with Binance Global, use this link.

For US citizens, we recommend signing up for Binance US here.

In the meantime, be sure to stay up with all things Binance via the following social links: