Binance is a cryptocurrency exchange platform that was launched with 0% trading fees in other to draw attention among other exchanges. It has its coin called BNB and it charges you 0.05% when you are trading with their coin. Mr Changpeng Zhao is the company’s CEO he revealed that the company have 986,000 Binance worth $1.5 million as at 29th October 2017 with 20% of its profit. They raised $15 million during its ICO and made a profit of $7.5 million within its few months of takeoff. Like every other platform, they had their challenges at takeoff but were able to handle successfully by the idea of taking the profit they got during the launching of their Q1 back into the system for further growth and community development. They are working towards more revenue generation next quarter.
Binance has a relationship with the cryptocurrency community despite China’s crackdown, and to this effect, CCN had an interview with Mr Changpeng Zhao on how the exchange managed to survive and more. Below is the video link in case you want to watch.
Binance is working on having multiple languages on their exchange platform, for now, they use English and Chinese and soon they will add Korean and Japan. With this, the platform will become a truly global affair.
Binance made a major breakthrough after closing their site to new subscribers in other to handle the volume of data they currently have and to expand their platform to accommodate more trades. They had a gain of 35% within 24 hours making a total of 160.68% gain within seven days at the current price of $21.1 Binance has proven that it is capable of growing further.
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