Many people new to cryptocurrency get confused by the various Chinese names for the platform — they're all referring to the same thing: Binance, one of the world's largest cryptocurrency exchanges by trading volume. You can visit the Binance Official website directly, or download the Binance Official APP for mobile access. iPhone users can follow the iOS Installation Guide.
The Origins of Binance
Binance was founded by Changpeng Zhao (CZ) in 2017 and has since grown into an industry leader with operations in multiple countries and regions worldwide.
Binance rose to the top for several reasons. First, it offers an enormous selection of trading pairs — nearly all mainstream coins and most emerging tokens can be traded on the platform. Second, fees are relatively low, especially when you hold the platform token BNB for additional discounts. Third, its security is industry-leading, backed by the SAFU (Secure Asset Fund for Users) protection fund.
What Can You Do on Binance?
Binance offers far more than just buying and selling Bitcoin. The most basic feature is spot trading — using stablecoins like USDT to purchase Bitcoin, Ethereum, and other cryptocurrencies. More advanced options include futures trading, where you can go long or short, though the risk is considerably higher. There are also earn products, similar to bank deposits, where you can stake your crypto to earn interest.
For beginners, the most commonly used feature is C2C (peer-to-peer) buying. You can use fiat currency via bank transfer, Alipay, or WeChat to purchase USDT from merchants, then use USDT to trade other coins. The process is similar to shopping on a marketplace — the platform acts as an escrow to ensure both parties' funds are safe.
Can It Be Used Normally in China?
While mainland China has restrictions on cryptocurrency trading, Binance is an international platform that operates legally in many countries worldwide. Chinese users can still register and use the platform through proper channels. Note that KYC (identity verification) is required during registration — this is both a compliance measure and an important safeguard for account security.
How Is Binance Different from Other Exchanges?
Compared to other exchanges commonly used by Chinese speakers, Binance's advantages lie in its highest degree of globalization and best liquidity. Good liquidity means less slippage when trading, and even large orders can be filled smoothly. Additionally, Binance's product lineup is incredibly rich — from simple recurring purchases to complex options trading, it covers virtually every crypto use case.
That said, each exchange has its own characteristics. If you're a complete beginner who just wants to buy a little Bitcoin to get started, Binance's quick-buy feature is all you need. If you want to dive deep into trading strategies, Binance provides the most comprehensive tools and data available.
What to Prepare Before Registering
To create a Binance account, you need an email or phone number, plus an ID document for identity verification. Use an email you check regularly, since many security notifications will be sent there. After registration, the first thing to do is enable two-factor authentication (2FA) using Google Authenticator or SMS — this way, even if your password is compromised, no one else can access your account.
Once the basics are set up, you can start funding your account. The easiest way is through C2C trading to buy USDT with fiat currency — the whole process usually takes just a few minutes. Once you have USDT, you're free to trade any cryptocurrency on the platform.
Q: Is this the same as Binance?
A: Yes. Various Chinese phonetic spellings all refer to the same platform — Binance, one of the world's largest cryptocurrency exchanges, offering spot trading, futures, earn products, and more.
Q: Does it cost money to start using Binance?
A: Registration is completely free. Trading fees only apply when you actually execute trades, and the rates are very low. C2C purchases don't incur separate fees either — you simply pay the merchant's listed price.
Q: Is Binance safe?
A: Binance invests heavily in security, including the SAFU user protection fund, multi-factor authentication, and cold wallet storage. While no platform can guarantee 100% safety, Binance has one of the best security track records in the industry. Users should also take responsibility for their own account security by enabling 2FA and setting an anti-phishing code.