Founded in 2017 by Changpeng Zao ("CZ") in China Binance fast became the biggest crypto exchange of the world. Let's have a brief look at its history.

Binance's founder CZ was already experienced in the field of finance and crypto before he founded Binance. He for example founded a company developing stock trading systems and worked for blockchain.info on their crypto-wallet. In 2017 he founded Binance. Despite the necessity to move several times due to regulations in the following years (from China, to Japan, to Taiwan) Binance was already one year after its foundation the largest cryptoexchange of the world.

In August 2018 Binance teamed up with other exchanges to start a revolutionary project: the development of a stable coin.

Despite all these good news there are also bad ones: in May 2019 Binance got hacked and 7,000 Bitcoin got stolen. At this time about $40 million worth, nowadays mind-blowing $260 million. What I personally would also count as bad news is that Binance started to offer futures in the same year with 125x leverage (hands off guys!!).

At the moment there is a conflict between the US authorities and Binance considering the ban of the platform in the US and Binance's trials to bypass it.

Last year Binances own Blockchain Binance Smart Chain launched which led to Binances own currency BNB (launched in 2017) becoming the third largest crypto measured by market cap.

What do you think about Binance? I personally like it for spot trading and some of their earn offers, but think there are also plenty opoortunities to lose your money on the platform. So keep away from leverages and don't buy shitcoins!

As always: thank you for reading, liking and tiping!
Carla XOXO

Do you want to invest in crypto but are sceptical considering Binance? Coinbase is also a great place to do so. Get 10$ free for your first purchase on any crypto above 100$.

PS: I’m not a financial advisor. DO YOUR OWN RESEARCH before investing your money and never invest money you cannot afford losing!