Binance Revenue and Usage Statistics (2021)

David Curry

Updated: October 22, 2021

Binance is one of the largest cryptocurrency exchanges in the world, responsible for $7.7 trillion crypto exchange volume in 2021. It was founded in 2017 by Changpeng Zhao, who previously worked for Blockchain.info and as CTO of OKCoin.

Launched in Hong Kong, it quickly became one of the leading exchanges, but from the get-go faced increasingly restrictive regulations which forced it to migrate servers and headquarters to Malta.

Binance has one of the widest selections of alt-coins available on its exchange and even launched its own coin, Binance Coin, which is currently the fifth most valuable coin by market cap behind Bitcoin, Ethereum, USD Tether and Cardano.

It has also launched several security tools aimed at improving trust in crypto, these include Binance Smart Chain, which utilises a proof of staked authority to ensure that a transaction is validated.

Binance has suffered somewhat due to investigations in the US and UK into money laundering and tax offenses. Several banks have banned its customers from sending money to Binance. Similar bans are in effect in China, Japan and Thailand.

Even so, Binance continues to be the largest cryptocurrency exchange by volume, even surpassing Coinbase which has more active users.

We have collected data and statistics on Binance. Read on below to find out more.

Binance key statistics

  • Binance reported a profit of between $800 million and $1 billion in 2020
  • We estimate that Binance has 28.6 million users as of October 2021
  • Binance annual spot trading for 2021 is already seven times larger than its 2020 value
  • Its peak 24 hour trading volume is $35.4 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

Note: Binance does not disclose revenue, only profit

Sources: Company data, The Information

Binance users

Year Users
2017 1.5 million
2018 13.3 million
2019 16.5 million
2020 21.5 million
2021 28.6 million

Sources: Company data, The Information, 

Binance peak trading volume

Year Peak trading volume (24 hours)
2017 $3 billion
2018 $9 billion
2019 $5 billion
2020 $15 billion
2021 $35 billion

Source: CoinMarketCap

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

Sources: Cryptocompare, The Block Crypto 

Binance vs competitors: crypto volume

Want to learn more? Read our cryptocurrency sector profile

Binance FAQ

What percentage of Binance users are hobbyists?

According to Binance Research, only 48% of users are hobbyists. 15% of respondents to a survey said it was their main source of income

How many Binance users own Bitcoin?

65% of Binance users own Bitcoin, with most allocating 1-20% of their crypto portfolio to it

What are the demographics on Binance?

Over 90% of users are male and the average age is 35 years old

What is the market cap of Binance Coin?

Binance Coin has a market cap of $70 billion as of October 2021. 168 million coins are currently in circulation

How many coins are available on Binance?

There are 337 coins available as of October 2021

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