Binance was founded in 2017 by Changpeng Zhao, also commonly known as “CZ.” The exchange has since it’s founding made a rapid ascent to fame. Due to its user-friendly interface, a wide range of supported cryptocurrencies, and it’s ability to facilitate large volumes of orders.
The early days
Eventhough many of you now know Binance as being the biggest cryptocurrencies exchange, it wasn’t always like that. When Binance started, it started with a clear vision. One to provide it’s users with a user-centric crypto exchange that prioritizes speed and security.
When it first started, Binance only offered a select few cryptocurrencies. Ones that had already gained market tractions. Examples of early crypto offerings would be the now famous Bitcoin (BTC) and Ethereum (ETH).
Thorughout the history of Binance, it has kept adding new cryptocurrency offerings on its platform. With notable examples being Ripple (XRP), Litecoin (LTC) and NEO (NEO), with Binance adding these coins pretty early on in there development and sometimes even partnering with them. With the success of these cryptocurrencies and tokens, Binance has established themselves as one of the most credible crypto exchanges around.
Available cryptocurrencies
On the Binance platform there is a wide range of cryptocurrencies available. From the original Bitcoin and Ethereum all the way to very new coins like PEPE. Currently there are more than 350+ cryptocurrencies offered. That can be traded in a plethora of trading pairs. Down below we have listed all the trading pairs that are available on the platform.
| Main trading pairs | Altcoin trading pairs | Fiat currency trading pairs |
| USDT (Tether) | ETH (Ethereum) | TRY (Turkish lira) |
| BTC (Bitcoin) | DAI (DAI) | EUR (EURO) |
| BNB (Binance Coin) | USDC (USD Coin) | BRL (Brazilian real) |
| BUSD (Binance USD) | VAI (VAI) | ARS (Argentine peso) |
| TUSD (TrueUSD) | XRP (Ripple) | BIDR (Binance IDR, or Binance rupiah) |
| FDUSD (First digital USD) | TRX (TRON) | GBP (Great British pound) |
| DOGE (Dogecoin) | IDRT (Rupiah token) | |
| DOT (Polkadot) | NGN (Nigerian naira) | |
| PLN (Polish złoty) | ||
| RON (Romanian leu) | ||
| RUB (Russian rubles) | ||
| UAH (Ukranian hryvni) | ||
| ZAR (South african rand) |
For why some stablecoins are listed on the main trading pairs and some are listed on the altcoin trading pairs, is due to trading volume.
Extra offerings
Besides the usual trading pairs, Binance also has many other things to offer its clientele. This ranges from:
Binance futures: Is the futures market on the platform. You can also trade derivatives and options here.
Binance launchpad: Here all the new and exciting crypto projects are launched. Some notable examples that have launched via launchpad are Polygon and Axie Infinity.
Binance earn: Here users can make use of opportunities to yield farm, stake or dual invest their crypto assets in order to generate a passive income from it. This income is comparable to that of a savings account and is paid in crypto.
Binance Acedemy: In the Academy users can learn about the basics of the platform. As well as information about the newest crypto projects that are being launched on the binance launchpad platform.
Fees
In general, Binance is considered to be on of the exchanges with the lowest trading fees. It has a very low 0.1% spot trading fees but a relatively high fee for purchases made with debit and credit card of 4.5%. This can however be circumvented with a wire transfer. As these have 0% fees. Lastly, users can also deposit using an E-wallet like Advcash. However the fees between these services fluctuate between service to service.