He does that by using the Binance Visa card, which allows users to convert and spend their cryptocurrencies at more than 60 million merchants worldwide but is limited to customers living in Europe, according to its website. These days, Zhao tries to pay in crypto whenever and wherever he can. 'If you exchange currency at an airport, you lose about 10% each time so the cost is very high.' 'If you use fiat to do cross-border transactions, it's actually very difficult and you get really creamed on the conversion rates,' he said. This type of borderless living has given Zhao a front-row seat to the frictions and inefficiencies of converting fiat money, which refers to all currencies backed by government decrees.

'I like to stay mobile, I like to visit more places just so that I know what's going on in different locations.' 'I have a habit of moving around a lot, but it gives me more exposure to the world,' Zhao, who goes by 'CZ,' said in an interview. While the coronavirus-induced lockdown has kept Zhao in Asia for the past year, his normal schedule has been to switch locations every few months to spend time with employees and users that have sprouted up all over the world. Today, as the chief executive of the world's largest crypto exchange Binance, Zhao finds his early exposure to the world from constant traveling and moving immensely helpful. When he was 12, the family immigrated to Canada where he stayed for another decade before moving to Tokyo, New York, and then Shanghai for work. Growing up in China, Zhao had a somewhat nomadic upbringing as he followed his educator parents who moved in between cities every few years.

To Changpeng Zhao, home has always been less about a physical address and more of an inner world that transcends geographical boundaries.

He also breaks down why he's keeping most of his personal assets in Bitcoin and Binance Coin.

In an interview, Zhao recounts how he built Binance in 180 days and continues to grow its divisions.

Changpeng Zhao is the founder of Binance, the world's largest crypto exchange by trading volume.

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