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
|Launch date||3 September 2017|
|People||Changpeng Zhao (CEO, founder)|
Note: Binance does not disclose revenue, only profit
Sources: Company data, The Information
Sources: Company data, The Information,
Binance peak trading volume
|Year||Peak trading volume (24 hours)|
Binance annual crypto exchange volume
|Year||Annual exchange volume|
Sources: Cryptocompare, The Block Crypto
Binance vs competitors: crypto volume
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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