History of Binance
Founded: Binance was launched in July 2017 by Changpeng Zhao (often known as "CZ").
Initial Location: It was originally based in China, but due to strict regulations on cryptocurrencies by the Chinese government, Binance moved its operations to more crypto-friendly countries like Malta, Singapore, and others.
Funding: Binance raised funds through an Initial Coin Offering (ICO), where they launched their own token called Binance Coin (BNB).
Key Milestones in Binance's Early Journey
1. 2017:
Binance officially launched.
BNB token was introduced and used for trading fee discounts.
2. 2018:
Binance became one of the world’s largest crypto exchanges by trading volume.
Introduced referral rewards and launched Binance Launchpad for new tokens.
3. 2019:
Released Binance DEX (a decentralized exchange).
Expanded to new regions and supported more fiat-to-crypto trading.
4. 2020:
Launched Binance Smart Chain (BSC), a blockchain for fast and cheap DeFi applications.
5. 2021:
Introduced the Binance NFT Marketplace.
Faced increasing regulatory pressure in multiple countries.
6. 2022–2024:
Focused on regulatory compliance (KYC/AML).
Expanded into more crypto services like staking, savings, and education.
Step-by-Step Guide to Create a Binance Account (with Examples)
Step 1: Go to the Binance Website or App
Visit: www.binance.com
Or download the Binance App from Google Play Store / Apple App Store.
Example:
If you use a phone, open Play Store → Search "Binance" → Install it.
Step 2: Click on "Register" or "Sign Up"
You'll see two options: Email or Mobile Number.
Example:
Choose Email
Email: myemail123@gmail.com
Password: MyStrongPassword123
Then click Next.
Step 3: Email Verification
Binance will send a 6-digit code to your email.
Open your email inbox, find the Binance email, and enter the code.
Example:
Code: 483920 → Type it into Binance.
Step 4: Complete Basic KYC (Identity Verification)
1. Choose your country (e.g., Sri Lanka)
2. Upload a National ID, Passport, or Driving License
3. Take a selfie or facial scan using your phone camera.
Example:
ID Type: National ID
Upload front and back side
Take a selfie as shown on screen
Step 5: Set Up Security (2FA)
Add Google Authenticator or Phone Verification to secure your account.
Example:
Download Google Authenticator, scan the code Binance gives, and use the 6-digit code from the app to log in.
Step 6: Deposit Funds
You can deposit crypto (like USDT, BTC) or use P2P (peer-to-peer) to buy using LKR.
Example:
Go to P2P Trading → Choose USDT → Pick a seller → Pay using bank transfer or mobile money → Confirm.
Congratulations! Your Binance Account is Ready
•You can now:
•Buy/Sell crypto
•Transfer to others
√ Use Binance Earn, NFT, or Staking