10 Binance Facts That We Find Interesting
Within one year, Binance has turned into one of the largest cryptocurrency exchange on the planet. Its meteoric rise is no luck. It functions systematically – and grows punctually.
All it took is one year for the company to beat its competition, launch its mobile and desktop apps, while onboarding over 8 million users.
That is why we wish to share with you some of the interesting facts about this exchange. Here are our top 10:
- Changpeng Zhao, the founder of Binance, went from flipping burgers to working at a local gas station at night to running a startup — and now founding Binance. He is a billionaire within one year. (Source)
- Binance has a matching engine — fast enough to process and sustain 1.4 million transactions every second… making it the world’s fastest cryptocurrency exchange.
- No one knows the exact location of Binance’s server. Founder Changpeng Zhao is always on the move — never living in one place, and never revealing the location of the offices of Binance. From the SMH article:
Zhao keeps the locations of Binance’s offices and servers secret – making it tough to determine which country has jurisdiction over the company – and he instructs employees to keep quiet about their affiliation with the exchange on social media. He said he never stays in one place for too long, living out of short-term rentals and hotels in Singapore, Taiwan and Hong Kong (where he prefers the Mandarin Oriental or the Ritz-Carlton).
- Binance is not just an exchange but also an incubator. Check out labs.binance.com.
- Binance is more profitable than Deutsche bank. Apparently, Deutsche bank is 148 year old with a profit of less than $200 million. Binance achieved those numbers in less than a year. (Source: @APompliano)
- Binance takes $200,000 to list a coin. The price depends on so many factors. Last year, it was $100,000 and now it is doubled.
- Binance is now creating thousands of job opportunities in the blockchain space. First, it starts with Uganda — which is among the top 25 poorest country in the world. In Bermuda, Binance pledged to spend $15 million to create blockchain awareness in the university and offer jobs. (Source)
- There are 200 employees located globally to maintain and manage Binance. More new offices and remote jobs are created frequently.
- On Jan 10th 2018, Binance added a record number of users. A total of 240,000 users signed up in one hour. This was the time Bitcoin touched close to $20,000.
- Binance will soon add local currencies (fiat) except for USD. It is already working with major banks to make buying and selling of cryptocurrencies easier.
Know any other interesting facts? Feel free to share it here.