Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name “Binance” is a combination of binary and finance. In English “binary” and “finance”. Thus, the startup shows that only cryptocurrencies can be traded against each other. It is not possible to trade cryptocurrencies against Fiat. The platform achieved an enormous success within a very short time and is mainly focused on the Chinese market.