Binance Explained: A Guide for Beginners

Binance is one of the largest and most well-established cryptocurrency exchanges in the world. Founded in July 2017 by Changpeng Zhao, also known as CZ, and Yi He, it quickly gained popularity for its ease of use and low fees.

The exchange offers a wide range of trading features, including spot trading, futures, margin trading, staking, and an NFT marketplace. Binance's own token, BNB, is used to pay trading fees and has become a key component of the exchange's ecosystem.

One of the main benefits of using Binance is its scale, which means tighter spreads and deeper liquidity on common pairs. However, this also means that there may be more features to navigate for new users.

Binance's regulatory standing varies depending on the country, with some places offering direct access through local entities while others have restrictions or no presence at all.