Binance is one of the world’s leading crypto exchanges that began its operations in 2017 in China. The founder and CEO of the exchange is Changpeng Zhao, known in the crypto circles as CZ. Binance is known for its huge cryptocurrency offer. Besides the popular ETH to BTC Binance trading pair, they have over 400 different cryptocurrency pairs that users can trade with. Among the various markets on Binance, Chainlink seems to be one of the most active ones.
The proprietary coin of the exchange is called Binance Coin (BNB). Trading on Binance is performed based on a standard maker-taker model. Each trade carries a fee between 0.02% – 0.1%. Using BNB to pay for transaction fees, users can save an additional 25% on fees. The fee structure changes every year.
The Binance minimum trade value depends on the market and trading pair. The Binance Bitcoin to Ripple pair, for example, requires a minimum of 1 XRP trade amount. All other estimates can be reviewed in their trading rules.