Where Is Binance Located? Here is the answer!
Binance is one of the leading global cryptocurrency exchanges and its registered office is in China. The company has grown by leaps and bounds over the last 12 months to the astonishment of other competitors.
The effect of the Chinese government crackdown on crypto trading led the company to expand overseas, and look beyond its initial borders. So, where else is Binance located? As a dominant player in the cryptocurrency scene, you would love to know more about this wave-making company.
Part1: Binance Registered Office
When Binance was first registered, its offices were domiciled in China, over the course of last year, a lot of things happened to impact its operations. After listing its office in Hong Kong, it further expanded by setting up servers in South Korea to deepen operations and coverage.
Expansion activities literally meant that better server capacity will lead to improved services, and this was not possible without setting up more Binance locations. In view of the fact that the company was set up to attend to a global audience of cryptocurrency traders, there is every thought of rightness in establishing new offices.
South Korea also appealed to the business sense of Binance as it accounts for the largest base of cryptocurrency traders across the globe. It is believed that up to 10 percent of Bitcoin trading is carried out using the South Korean Won. The only other currency used for trading that exceeds the Won is the American Dollars.
In Q4 2017, Bitcoin price in South Korea was 50% higher than the rest of the world, and this was a remarkable premium. In real terms, by setting up servers in South Korea, Binance made a great business decision.
Part 2: Where is Binance Exchange Located?
For many people, identifying where Binance exchange is located is not an issue as long as their trading goes on unhindered. This posture might not be right as it is important to be aware of the geo-political threats that your investment could be exposed to daily. Managing threats to your investment are as pivotal as the returns you expect.
As the fortunes of cryptocurrencies leaped in 2017, the Chinese government took steps to also restrict the exposure of its citizens to the price volatility. By banning Chinese residents from trading in cryptocurrencies, Binance was already exposed to a possible disruption of its activities.
Binance announced a ban on the registration of new customers who are Chinese residents and closed existing accounts for this category of users. In taking proactive measures, Binance locations in China were being shielded from a possible crackdown by the Chinese government.
Binance took other steps to protect its business by expanding overseas with its new IP location in the British Virgin Islands. This move was also pre-emptive to guarantee its continuing operations in case it is shut down in China. There has however not been any directive for the company to shut down in China. And the government is aware that the company caters to several people across the globe.
One of the safeguards taken by Binance so far in its Chinese location is to block all IPs originating from China. This move prevents any Chinese citizen or resident from contravening the Chinese government ban. Currently, all Chinese users and IPs are blocked to demonstrate that the exchange cooperates with the Chinese governments.
The direct fallout of setting up Binance locations across multiple countries is that the company can continue uninterrupted operations. It will be able to serve customers from around the world without disruptions despite any action taken in a specific jurisdiction.
Part 3: Beyond the Limitation of a Location
As the cryptocurrency trading space deepens, innovations on the Blockchain is justifying the need for token usage and trading. Binance has successfully managed its business location threats and has to focus on optimizing its operations to keep its customers happy.
Many competitors are entering the exchange space daily across the globe, and the niche that Binance has focused on is profitable. Providing support for numerous tokens makes the exchange a sought-after platform for token traders around the world. The greater the number of tokens supported, the more of a global audience it can secure.
While many people might care less if the company is based in China or not, Binance has a business niche to protect. Having expanded to other continents, it assures the crypto trader of business continuity, who should have fewer issues to worry about as trading heats up.
The Blockchain in itself enables decentralized processes and transactions, and as the idea deepens around the world, the more intense it will become. Irrespective of where anyone might live, access to the Blockchain is possible with internet connectivity. This explains while Binance user base has continued to soar since it is not limited to serving Asian or Chinese customers.
The video link here is an interview with the CEO of Binance Exchange:
Part 4: What About More Binance Locations?
Having more Binance locations around the globe is a signpost of the world leader in the cryptocurrency sphere. As the global footprint increases, more cryptocurrency traders will be won over. More people have confidence in a global player than a national alternative.
Global players also have the tendency to offer more incentives to customers, and hopefully, Binance will do this as well. Helping to grow the global economy through its platform might be an adjunct reason for its operations, but it is worth highlighting.
As more people use Binance to grow personal wealth, their living standards will improve as cryptocurrency can lead to a growth in net worth for investors. This is not to shield the fact that trading success requires skill, and has to be learned.
If you are yet to open a cryptocurrency account with Binance, you need to do so right now. This is your chance to have your cut of the global boom in the trade of wonder coins. Go here to register.
Having learned where Binance exchange is located, you can worry less about the unknown and focus on your cryptocurrency trading for best gains.
As reputable investment traders will say, “the volatility of the market and price swings provides an opportunity for gains.