Binance is currently the largest crypto site in the world. Founded by Changpeng Zhao (also using the pseudonym CZ) in 2017, Binance is currently the largest and most famous crypto site in the world.
Currently, the exchange operates in the jurisdiction of Malta and was warmly welcomed there. Changpeng Zhao was even welcomed by the Prime Minister of Malta himself. Malta has a very friendly legal and tax regulations for cryptographers. Anyone who is interested in cryptographers sooner or later will set up a Binance account with the stock exchange’s founder, does not require KYC and is fully anonymous.
Binance was created as a result of the ICO (Initial Coin Offering) Binance Coin (BNB) token based on EC20 on the Etherum network, which took place from 26 June to 3 July 2017.
Currently, the BNB is based on its own independent blockchain Binance Chain. BNB tokens are the basic unit thanks to which we settle with the stock exchange for exchanging cryptovalut and purchasing offers offered on Binance Chain.
This is very important for people who are just beginning their adventure with Binance because if you do not have these tokens in your wallet, the commission is taken from our purchases and so, for example, if you buy 1000 of any tokens or a cryptovalent, you can get 999 of them after deducting the commission. That is why it is worth having at least a minimum amount of BNB in your wallet.
Additionally, the BNB cares about the value of its tolken and wants to burn 100mln tolkens BNB in the future, i.e. it will reduce their amount by 50%.
Binance took over the largest crypto exchange in India called WazirX