Binance is in the list fastest growing exchanges. It provides a reliable platform for traders with huge growth in users every day. They have their native token ‘Binance Coin’ to pay your fees on Binance exchange. The token is proven to be highly stable for several trading perks and secure service in crypto transactions.
Changpeng Zhao – CEO https://www.linkedin.com/in/cpzhao/
Roger Wang – CTO https://www.linkedin.com/in/rogerlilaiwang/
James Hofbauer - Chief Architect https://www.linkedin.com/in/jamesjhofbauer/
Paul Jankunas - VP of Engineering https://www.linkedin.com/in/paul-jankunas-4ba9513/
Allan Yan - Product Director https://www.linkedin.com/in/allannyan/
Sunny Li - Operations Director http://www.linkedin.com/in/SunnyJiachenLi
There is limited information available in English, but they do have mentioned a part of device coverage in whitepapers. They are aimed to provide cross-platform trading clients for a number device platform including:
- Web-based trading client
- Android native client
- iOS native client (pending App Store review)
- Mobile HTML5 client (including WeChat H5 client)
- PC (Windows) native client
- REST API
- The highly skilled team is only making it a success
- Secure and one of most stable exchanges
- It has multiple currency support on more than thirty exchanges
- Trouble free user-friendly interface for newbies
- A limited number of coins
- Coin can only be used for trading – thus no fiat exchange
- Limited documentation is translated from Chinese to English
Though the English version is limited but still it gives a good overview of generic information including team, investors, discount and repurchasing plan, market competition and risks.
Binance has its native coin known as BNB which allows users to pay different fees on Binance exchange i.e. listing fees, trading or withdrawal fees, margin and other fees. If the user wishes to use BNB for payments he/she will get a discount of 50% in first here. Binance has made a clear declaration about discounts:
- 1st Year – 50%
- 2nd Year – 25%
- 3rd Year – 12.5%
- 4th Year – 6.75%
- 5th Year – no discount
Binance has significant discounts for the users who are using BNB for making payments on Binance exchange. Even the percentage of discount will be decreasing every year but still, it’s a huge incentive for traders. Every passing day traders are increasing on Binance exchange and so the amount traded as well.
One most noticeable part of BNB is its plan of repurchasing the token and then burning them. According to whitepaper every quarter Binance will user 20% of profit to repurchase the BNB back from the market and then destroy them. They will keep using 20% until 50% of BNB are bought back. They have made it clear that all transactions will be declared on blockchain for transparency purposes. So, in total, 100 million BNB will be destroyed and 100BNB will be left in the market.
- Matthew Roszak: Bloq co-founder. Tally Capital Founding Partner
- Roger Ver: Angel investors in many blockchain businesses. CEO of Bitcoin.com.
- Ron Cao: MD of Sky9 Capital Institutional investor in BTCChina.
- Chandler Guo: Angel Investor in blockchain businesses in China.
- He Yi: CMO of Yixia Technology. Previously Co-founder at OKCoin.
- Yang Linke: Co-founder of BTCChina. ICOCoin Founder.
- Zhao Dong: One of the largest crypto OTC brokers in China.
- Da Hongfei: AntShares Founder. Onchain CEO.
- Jun Du: Co-founder of Huobi. Angel investor.
- Vincent Zhou: Founder of FinTech Blockchain Group. Active angel blockchain investor.
- Lu Bin: CEO of Andui.com, a blockchain financial service company in China
- Liu Sutong: Finance Channel TV Anchor, CEO of Heng Pool
- Eric Zhang: AntShares Core Member. Lead match- engine developer at Huobi.com
- Leah Zhang: CMO of F2Pool. Previously Investment Manager of AngelCrunch.
- Wang Qijun: Co-founder of Andui. Formerly Marketing at Blockchain.info
- Roy Zou: CEO of Bitkio, Secretarl at Ethereum Classic Consortium (ECC)
- Jackie Wang: Founding team member of Bitbank.com and BW.com and CHBTC.
- Li Da: Co-founder of JiulianTech.
- Xiaoning Nan: Founder of BitOcean.
- Jeff Cui: Founder and CEO of TKing.cn. Tech lead at Morgan Stanley.
- Guicheng Xiong: Co-founder of 91 Wireless, acquired by Baidu at $1.9 billion USD.
- Xin Chen: Previous Product Director of OKCoin. Analyst at Guotai Junan Securities.
- William Liu: Senior Partner at AllBright Law Offices, the biggest Law Firm in Shanghai.
Some investors choose to remain private.
There is no roadmap publish till now but according to white papers
“Binance will build a decentralized exchange, where BNB will be used as one of the key base assets as well as gas to be spent. “
Due to a number of good reasons BNB is still a great choice for trading but surely not for investments. As seeing the trading chart, its demand and supply remain same a price fluctuate from high to down within no time. So, people can get the advantage of its significant discounts for trading purposes.
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