Binance is one of the most significant cryptocurrency exchanges that consists of $7.7 trillion cryptocurrency exchanges in 2021—established in 2017 by Changpeng Zhao.
The cryptocurrency exchange company was launched in Hong Kong and immediately surpassed the then-leading exchanges. However, Binance received setbacks due to the severe restriction and regulations that forced them to change tact by moving to Malta.
Ever since, Binance has been one of the most prominent picks for alt-coins accessible in its exchange. Similarly, they’ve managed to launch their coin—graded as the fifth most treasured in the market behind giants like Bitcoin, Ethereum, USD Tether, and Cardano.
Additionally, Binance has established multiple security tools positioned to improve and develop trust in cryptocurrency. They include Binance Smart Chain, which specialises in staked authority to ensure proper validation of transactions.
However, the growth of this cryptocurrency exchange hasn’t been a smooth ride. It has been affected by interference by the UK and the US in their investigation of money laundering and many tax offences, leading to many banks deterring their customers from sending cash to Binance. The ban is implemented in countries such as Thailand, China, and Japan.
Nevertheless, Binance continues to be the giant cryptocurrency exchange by a wide range as exchanges like Coinbase cannot keep up even with their many active users. Read on to find more interesting facts about Binance.
Binance Key Statistics
- Binance experienced profits ranging between $800 million to $1 billion in 2020
- It’s estimated that as of October 2021, Binance had 28.6 million users
- The yearly Binance spot trading of 2021 has surpassed that of 2020
- Binance highest 24-hour trading magnitude is $76 billion
Binance Overview
| Launch date | 3 September 2017 |
| HQ | Cayman Islands |
| People | Changpeng Zhao (CEO, founder) |
| Business type | Private |
| Industry | Cryptocurrency |
Binance Profit
| Year | Net income |
| 2017 | $7.5 million |
| 2018 | $850 million |
| 2019 | $570 million |
| 2020 | $900 million |
Binance Users
| Year | Users |
| 2017 | 1.5 million |
| 2018 | 13.3 million |
| 2019 | 16.5 million |
| 2020 | 21.5 million |
| 2021 | 28.6 million |
Binance Peak Trading Volume
| Year | Peak trading volume (24 hours) |
| 2017 | $3 billion |
| 2018 | $19 billion |
| 2019 | $15 billion |
| 2020 | $35 billion |
| 2021 | $76 billion |
Binance Annual Crypto Exchange Volume
| Year | Annual exchange volume |
| 2017 | $59 billion |
| 2018 | $516 billion |
| 2019 | $401 billion |
| 2020 | $1.07 trillion |
| 2021 | $7.7 trillion |
Binance FAQ
1. What Percentage Of Binance Users Are Hobbyists?
As per the Binance research, you can only associate 24% of Binance users as Hobbyists. On the other hand, 15% of regular Binance users identified it as their primary source of income.
2. How Many Binance Users Own Bitcoin?
65% of Finance users are said to be owning Bitcoin, while a majority of them assign 1%-20% of their crypto portfolio to the exchange.
3. What Are The Demographics On Binance?
Above 90% of Binance users are male of an average age of 35 years old.
4. What Is The Market Cap Of Binance Coins?
As of October 2021, Bitcoin had a market capitalisation of $70 Billion. Moreover, 168 million of their coins are presently in circulation.
5. How Many Coins Are Available On Binance?
Binance has had 337 coins accessible since October 2021
