Quoting Investopedia, Binance is a cryptocurrency exchange founded in 2017 in Hong Kong. It has a strong focus towards altcoin trading. Quoting Binance.com, binance is a blockchain ecosystem with a suite of products that includes the largest digital asset exchange. Binance offers crypto-to-crypto trading in over 600 virtual cryptocurrencies and tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB).
Binance provides crypto wallets for traders to store their electronic funds. The exchange also has support services for users to earn interest or transactions using cryptocurrencies. It also offers a program for miners and helps traders make investment decisions. Binance offers services around trading, listing, fundraising, and delisting or withdrawing cryptocurrencies. Cryptocurrency enthusiasts looking to launch a token use Binance to raise funds through an initial coin offering (ICO). Binance is used by a large number of traders and participants to exchange and invest in various cryptocurrencies. Quoting Investopedia, the Binance exchange supports three main types of trading orders, namely limit, market, and stop-limit orders. Limit orders are executed only at the limit price set by the trader. Market orders are executed immediately at the best available market price. A stop-limit order becomes a valid order only when the price reaches a certain level.