Binance was founded by Changpeng Zhao, but also joined by Yi He a renowned cryptocurrency evangelist and OKCoin’s co–founder, who joined the Binance Team in 2017. The team seems to consists of well experienced individuals, who are from some of the leading institutions including Accenture, Morgan Stanley, Nomura and SBI Group. Overall, Binance is run by group of reputable developers and have also access to abundant resources and partners, chances are that Binance will continue to evolve as the team grows over time thus providing more services.
Binance has also received backing from high profile backers such as Roger Ver of Bitcoin.com and Neo CEO Da Hongfei, some influential people in the cryptocurrency world.
LOW FEES
Binance currently offers a 50% discount on transaction fees, though the catch is you have to have enough of their digital coin — aptly named Binance Coin (BNB) — stored in your account to cover any fees. Basically, if you have enough BNB in your wallet, Binance will automatically shave 50% off their 0.1% fee on any trades you make, making it 0.05%. The fee will then be deducted off your BNB wallet.
SPENDING AND WITHDRAWAL LIMITS.
Binance does not place any limits on making deposits or executing trades on its exchange, though it does have a daily limit on the amount of cryptocurrency you can withdraw. For unverified users, Binance has a withdrawal limit equivalent to 2 BTC — $20,000, give or take a few thousand — which replenishes every 24 hours. If you plan to do some high volume trading, you can increase your daily withdrawal limit to 100 BTC (at least $1 million) by submitting personal documents such as your social security and government-issued ID to verify your identity. To increase your withdrawal limits even further, you'll need to contact Binance.
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