What are some interesting facts about Binance?

#1 .From Zero to Hero in 165 Days

Binance launched on July 14, 2017, and in just 165 days, Binance became the world’s largest cryptocurrency exchange by trading volume. What contributed to this explosive growth in such a short period of time?

According to one of Binance’s co-founders, there were a number of internal and external factors that catapulted Binance to stardom. Yes, timing and luck were among them, but most importantly, Binance’s ability to fill a need in the cryptocurrency market at the time was a testament to the user-centricity, sharp instincts, and judgment of its visionary founders.

At the time, the crypto industry had seen several bull and bear markets, but there were hardly any crypto exchanges that focused entirely on the user experience. Systems were slow and customer support teams were often not responsive. Binance decided to do better. From the beginning, Binance launched an institutional-grade trading engine and a dedicated customer support team, and offered an innovative suite of crypto products aimed at meeting users’ most immediate needs.

During Binance's first crypto winter, several of its Initial Coin Offering (ICO) projects saw a sharp drop in prices and investors asked for their money back. The founding team quickly decided to use the company's treasury to return all investors' funds and buy back the tokens at market prices, even though it took a heavy hit to the company's treasury.

This was a commendable move that had never been done before by any other cryptocurrency exchange. It showed Binance’s commitment to serving its valued users. This episode became one of the most positive PR narratives in Binance’s history. Coupled with this positive buzz and the issues that other exchanges faced, users in Asia and elsewhere began to flock to Binance.

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