Binance, one of the world’s largest crypto exchange platform marks it’s first year of existence in the crypto world. Isn’t it amazing how a firm that is just barely 12 months old was able to dominate the whole entire crypto sector? This firm has really left it’s footprints on the sand, as far as crypto is concerned.
Binance was launched on the 18th day of July 2017 with the sole aim of providing solution to the ever increasing problems in the Chinese crypto industry, but now it has gone beyond providing solutions for it’s territory alone, extending it’s services to the world at large. Binance’s speed in transaction and easy-to-use interface was actually the main reason why it has gotten to the height where it is right now. The firm is also characterised by it’s unrelenting and competent staffs that stays up day and night just to make sure that everything goes well. This exchange platform offers more trading pairs than any of it’s competitors, this alone attracted more users to the platform.
Despite the fact that this firm was asked by the regulating body in China to move it’s operations from it’s motherland, the company still didn’t slack a bit. It successfully moved it’s operations to Japan after the people’s bank began to crack down on exchanges. Afterwards moving to Japan, Binance experienced a very big progress in it’s operations over there, not until the Japanese coincheck exchange was hacked. So, the Japanese government in collaboration with the Financial Services Agency, cracked down on crypto exchanges hoping to ensure that, such does not happen again in the future. In the process, so many indigenous exchanges were logged off as they were unable to comply by the new rules and regulations, while others couldn’t acquire the legal documents required of them to continue running their business in the country. Unfortunately, Binance fell among the latter, so the had to change location for the 2nd time. This time, they decided to reside in a small Island nation, Malta, a developing nation that is well known for its friendly exuberance with crypto, in general.
It was founded by a man( Changpeng Zhao) well known as one of the early adopter of crypto and seconded by a man (Yi He) the former of OKCoin. Currently, the platform is trading over $1 billion worth of crypto on a daily basis and it would not be wrong to say that this firm has surpassed the level of it’s competitors like Huobi and Bithumb, within this short period of time. Not forgetting the new branch this firm has established in one of the remote countries in Africa(Uganda), shows that it is super ready for business that would last on the long run. I just wanna use this opportunity to wish them a happy one year ANNIVERSARY.