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Since Changpeng Zhao (CZ) stepped down as CEO of Binance in late 2023 following a legal settlement with U.S. regulators, many users have been asking how to enter or continue using the Binance exchange in relation to his role. This article provides clear, practical guidance on how to operate on Binance, focusing on account access, security, and trading execution, regardless of CZ’s current position.
First, it is critical to understand that CZ no longer holds an executive role at Binance, but he remains a significant shareholder. His "entry" into the exchange as a user is essentially the same as any retail or institutional user. To start, go to the official Binance website or download the certified app. Ensure you visit the correct URL (binance.com) to avoid phishing scams. Click "Register" and provide a valid email address or mobile number. You will receive a verification code to confirm your identity.
After registration, the next step is completing Know Your Customer (KYC) verification. Binance requires identity verification for full trading limits and withdrawal capabilities. Upload a government-issued ID (passport, driver’s license, or national ID) and complete facial recognition. This process typically takes a few minutes but may take longer during high-traffic periods. While CZ has publicly advocated for self-custody and decentralized finance, Binance as a centralized exchange still enforces strict KYC rules due to global regulatory demands.
Once verified, you need to secure your account. Activate two-factor authentication (2FA) using Google Authenticator or a hardware security key. This is the most important step for protecting your assets. CZ has repeatedly emphasized security best practices in his public statements, and this aligns with Binance’s own security protocols. You should also set up anti-phishing codes and whitelist withdrawal addresses to prevent unauthorized transfers.
Funding your account is straightforward. Navigate to "Wallet" > "Fiat and Spot" and select "Deposit". You can deposit cryptocurrency by copying your deposit address or using fiat currency via bank transfer, credit card, or third-party payment services like Banxa or Simplex. Note that CZ’s prior initiatives, like the "Binance Labs" and "Launchpad," may still affect which tokens are first available, but deposit processes remain unchanged.
To start trading, go to the "Markets" tab. You can choose between "Classic" and "Advanced" trading interfaces. Enter the trading pair you want, such as BTC/USDT. If you are following CZ’s general market strategy, many users look at Binance’s new listings, which historically saw price volatility. However, remember that CZ no longer makes direct listing decisions. Place a market order for immediate execution or a limit order for a specific price. Always check the order book and liquidity before confirming.
For withdrawals, the process is also standardized. Go to "Wallet" > "Withdraw", select the cryptocurrency, enter the destination address, and confirm via 2FA and email. Binance has a manual review process for large withdrawals, which is a compliance measure unrelated to CZ’s personal involvement. If you encounter any issues, Binance’s customer support is available via live chat, but response times may vary.
In summary, entering and operating on Binance does not require special privileges tied to CZ. The exchange remains fully functional under new leadership. Follow the standard registration, verification, and security steps. Whether you are a long-term holder or an active trader, your workflow remains the same. For CZ-related news or updates, always refer to official Binance announcements or CZ’s personal X (formerly Twitter) account, rather than unverified sources.