In 2018, quarterly profits were already estimated at hundreds of As a result, BinanceĬoin gave Changpeng Zhao the opportunity to create a highly successful centralized business. The new crypto exchange was named after the merging of the two English words Binary and Finance. After the ICO ended, it turned out that a total of $15 In July 2017, he organized an Initial coin offering, which resulted in the sale of 100 million coins. His fortune is valued around $96 billion. In 2022, Changpeng Zhao became the richest man in the cryptocurrency world according to Bloomberg. Nevertheless, four years later, Changpeng Zhao appeared on the cover of Forbes, ranking third on the list of people who became cryptocurrency billionaires. In addition, users received round-the-clock support service, user-friendlyĬontrols, low commissions, and high transaction speed.Ĭhangpeng Zhao, the founder of Binance, a programmer from China, started his cryptocurrency activities back in 2014 with an unsuccessful investment in It offered a revolutionary scheme for exchanging one cryptocurrency for another. The cryptocurrency exchange Binance itself appeared in 2017, offering users a number of advantages compared to the existing sites at the time. In addition, this token is used as a native token during IEO on Binance Launchpad, and, in contrast, to convert other cryptocurrency leftovers: you justĬlick a button and turn them into some amount of BNB, without paying any commission. It can also be used to pay fees for transfers and withdrawals from the exchange, buy digital currencies available for trading on the exchange, store tokensĪnd get extra income for it, and borrow cryptocurrency and leave BNB tokens as collateral. For example, with the help of BNB tokens you can pay the commission for buying and selling cryptocurrencies when trading on theīinance exchange, which gives you a discount on the size of your commission. The main difference between Binance Coin and other cryptocurrencies is that it is a currency for the largest exchange Binance, which provides a variety of
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