Binance is a global cryptocurrency exchange that allows you to buy, sell, trade, stake, and manage digital assets through spot, futures, margin, and other advanced trading products. The best features of Binance are low trading fees (0.1% spot), high-leverage futures trading up to 125x, hundreds of listed cryptocurrencies, staking and earn programs, copy trading, and advanced trading tools for active traders. It also offers a mobile app, Web3 wallet, Launchpad access, and deep liquidity across most major trading pairs.
In this Binance review, we will cover how the platform works, its fees, trading features, security measures, supported cryptocurrencies, and the deposit and withdrawal process. We will also compare Binance with other exchanges and help you decide whether it is safe, legit, and worth using.
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Binance is one of the top centralized crypto exchanges that gives you access to advanced trading tools and various markets; over 500 cryptocurrency assets, and 1,300+ trading pairs. Although Binance has been in the industry for over half a decade, within the first six months of launch, it became one of the largest cryptocurrency exchanges in the world.
Over the years, it has expanded its services to about 180 countries while serving 300 million users in those regions. Like other crypto exchanges, the Binance platform offers services for crypto holding, listing, fundraising, and withdrawing cryptocurrencies.
Then, to facilitate these transactions, the platform has a blockchain-based token, Binance Coin (BNB), and offers discounts to users who pay using this native cryptocurrency token. Apart from these features, Binance has an In-App NFT marketplace, a comprehensive learning platform, and opportunities for users to earn passive income.
The platform is designed to handle 1.4 million transactions every single second, so you don’t have to worry about lag during busy market moves. The ecosystem also includes a venture capital arm and a massive educational portal called “Binance Academy” to help you learn.
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| Exchange | Binance |
| Founded | 2017 |
| Founder | Co-founded by Changpeng Zhao (CZ) and Yi He. |
| Features |
|
| Margin Trading | Yes |
| Fees | 0.1% maker/taker and 0.075% option for BNB holders |
| Daily trading volume | Average of $70 billion (CMC data). |
| Security |
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| Supported Cryptocurrencies | 500+ cryptocurrencies, including Bitcoin, Ethereum, Solana, Ripple, and Cardano. |
| Accepted Payment Methods | Peer-to-peer trading, Direct Bank deposit, Debit/Credit Card, Apple Pay, Google Pay. |
| Device Compatibility | Mobile version and desktop. |
| Geographic Restrictions | Binance is unavailable in countries like Canada, North Korea, Iran, the Netherlands, Syria, the United States, and Crimea, and any non-government-controlled areas of Ukraine. |
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The main difference between Binance Global and Binance US is that they are actually separate legal entities that follow different sets of rules.
You can use the global Binance platform version if you live outside the United States, and it has the full list of over 500 coins and high-leverage futures. The US version is built specifically for American residents to meet the strict requirements of US financial regulators. Well, because of these strict laws, the US platform has fewer coins (around 150) and does not offer derivatives like futures or options trading.
Also, on Binance Global, you can easily deposit and withdraw dozens of fiat currencies through bank transfers, credit or debit cards, and third‑party payment services. Binance US currently does not offer cash deposits or withdrawals (limited only). US users rely on ACH transfers and wire transfers for limited fiat support, and these may carry higher fees.
The Binance platform works by acting as a middleman that connects people who want to buy crypto with people who want to sell it. You can easily create an account, deposit funds, and then you use the exchange’s order book to place your trades. The system then uses its matching engine to pair your buy order with someone else’s sell order at the best possible price. Once the trade is complete, the assets are transferred between internal wallets.
You will notice that your account is divided into several sub-wallets based on what you are doing. You have a Spot Wallet for regular buying and holding, a Futures Wallet for leverage trading, and an Earn Wallet for your savings. You can move your money between these wallets instantly and for free. Basically, this structure helps you keep your different trading strategies organized so you don’t accidentally spend your long-term savings on a risky day trade.
The pros of Binance include support for 500+ cryptocurrencies, competitive fees, advanced trading features, and strong security. While, the cons of the Binance exchange are the Binance US version for Americans with fewer features, overwhelming for beginners, and regulatory issues in the past.
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Binance is best for active day traders, altcoin investors, passive income, high-volume traders, and tech-savvy beginners.
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The Binance fees include spot trading charges (0.1% maker/taker), futures trading fees (0.02% maker, 0.05% taker), zero deposit fees, and variable withdrawal fees (depending on the network).
The platform generally does not charge you any fees to deposit cryptocurrency into your account. You only have to pay the network fee to the blockchain when you send the coins from your personal wallet. Unlike crypto deposits, fiat deposits involve third-party payment providers. The table below summarizes the core fees for retail users (both crypto and fiat deposit fees):
| Deposit method | Binance Global |
| Bank transfer (SEPA, FPS, ACH) | Free for most currencies. SEPA bank deposit is usually free; Faster Payments Service (FPS) in the UK is free. |
| Debit/credit card | Card deposits cost around 1.8-2% of the amount. Apple Pay and Google Pay have similar rates |
| Third‑party payments (Simplex, Banxa, etc.) | Fees vary by service, typically around 1-3% |
| Crypto deposit | Free; network miners’ fee paid by sender |
Binance crypto withdrawal fees are not fixed, and they change based on which coin you are moving and how busy the network is. You will find that withdrawing Bitcoin usually costs a $5-$10, but withdrawing tokens on the BNB Chain (previously Binance Smart Chain) or Solana can cost less than 50 cents. Actually, the exchange updates these rates regularly to make sure they match the actual blockchain costs.
| Withdrawal method | Binance Global |
| Bank transfer | SEPA withdrawals cost around €1-€1.50; wire transfers cost $15; some regions are free. |
| Debit/credit card | Not available for withdrawals. |
| Crypto withdrawal | Only the network fee is charged |
Binance spot trading charges are based on a tiered system, from regular users to VIP 9. Now, for regular users, a 0.10% maker and taker fee is charged for spot trading.
Your fees reduce slightly if you are trading USDC. Makers still pay the standard rate, but takers pay 0.095%. If you increase your trading volume over 30 days or hold a significant amount of BNB in your account, your spot trading fees will drop to as low as 0.011% / 0.023% maker-taker. (check screenshot below for exact discount details and VIP tiers)
Futures trading has a separate fee schedule because the volumes are usually much larger than spot trading. Makers, who provide liquidity to the book, pay as little as 0.02%, while takers pay around 0.05%. You also get a 10% discount on futures fees if you pay using your BNB balance. Right now, these are some of the lowest derivatives fees you can find on any major centralized exchange.
Binance margin trading has two cost components: trading commission (same as spot rates) and interest on borrowed funds. These rates change every single day based on how many people are borrowing that specific coin. Generally, USDT interest rates might be around 5% to 10% per year, while smaller altcoins might be much more expensive.
The Binance platform does not usually charge a direct fee for you to participate in staking or the Earn programs. But instead, the company takes a small percentage of the rewards that the blockchain pays out before they give you your share. So, this means the APY (Annual Percentage Yield) you see in the app is the net amount you will actually receive. Binance.US, however, deducts a 9.95% to 39.95% service fee from staking rewards.
The best features of the Binance exchange are advanced trading features, staking services, launchpad, user-friendly mobile app, passive income options, web3 wallet, cloud mining, and an NFT marketplace.
The top Binance trading features are spot trading, margin trading, futures trading, options trading, copy trading, and automated trading bots.
Binance margin trading allows you to borrow funds to increase your position size. Binance offers isolated margin (up to 10x leverage), where the collateral is tied to one trading pair, and cross margin (up to 5x). There is also cross margin pro for institutional and high‑volume users that raises leverage to 20x. Higher leverage increases both potential profits and losses.
Here, margin loans generally accrue interest every hour, and rates depend on the coin you borrow (as discussed earlier). Binance also uses a “Smart Liquidation” engine that gradually reduces your positions instead of closing them all at once. There is also Portfolio Margin. It lets you use combined balances across spot, margin, and futures to lower margin requirements and support large leveraged trades.
Binance spot trading means you can buy and sell crypto directly with market or limit orders. Spot trading pairs include crypto‑crypto pairs (e.g., BTC/ETH), crypto‑fiat pairs (e.g., ETH/EUR), and stablecoin pairs (e.g., BNB/USDT).
The interface allows you to view order book depth, price charts, and trade history. Generally, spot trades settle immediately, and you own the underlying asset.
Now, if you are a more advanced trader, Binance provides more advanced features for the spot market to support order types and charting features. These features allow you to set limits, market, stop-limit orders, and more. You can read our in-depth Binance spot trading review for more info.
Binance futures trading lets you bet on whether the price of a coin will go up or down without actually owning the coin itself. It offers USDT‑margined perpetual contracts, coin‑margined perpetual contracts, and delivery futures with expiry dates.
You can use much higher leverage here, sometimes up to 125x for certain pairs. Binance also provides tools such as isolated and cross margin for futures, take‑profit and stop‑loss orders, bracket orders, and a risk calculator. Check out our Binance futures review article for more details.
Binance options trading gives you the right, but not the obligation, to buy or sell a coin at a certain price before a certain date. You can trade European‑style options settled in USDT, and these options have a set strike price and expiry time. The platform has a very simplified options interface that makes it easier to understand than the ones used in traditional stock markets.
Now, because they are European options, you cannot exercise early, and the platform also offers a simple options widget called “Vanilla Options” for beginner use.
Binance copy trading allows you to follow the strategies of other experienced traders. Basically, you can choose a lead trader, allocate funds, and then the system automatically mirrors their trades.
Here, lead traders earn a 10-30 % share of the profits, and they must maintain consistent performance to remain in the program. You can copy in two ways: fixed amount, where you invest a specific sum, and fixed ratio, where your position sizes follow the same ratio as the lead trader’s positions.
There is also an “Elite Trader Program” that requires at least 300 copy traders and $750,000 in assets under management. Copy trading supports both spot and futures markets. Also, you can stop copying at any time and withdraw your funds. There are no restrictions.
Binance offers built-in bots that can trade for you 24/7 based on rules you set. Here are some top Binance trading bots:
Binance staking allows you to earn rewards just by holding certain coins in your account. The platform handles all the technical work, and you just click a button to start earning interest. You can choose “Locked Staking” for higher returns if you don’t mind locking your coins there for a set time, or “Flexible Staking” if you want to be able to withdraw them whenever you want.
Binance takes a 10% cut of rewards on popular coins such as Ethereum and Solana. There is also ETH 2.0 liquid staking, which provides a token called WBETH that represents your staked ETH and accrues staking rewards. Explore our Binance staking review article for more info.
Binance Launchpad is a platform for new cryptocurrency projects to raise capital through token sales. You can participate by holding BNB in your account. The number of tokens you can buy depends on your average BNB holdings over a snapshot period (often 7–30 days) and the project’s allocation rules.
Binance calculates your ticket based on hourly snapshots of your BNB balance, and at the end of the subscription period, winning tickets are drawn, and BNB is deducted from your wallet to purchase the new tokens. Check out our full Binance launchpad review here.
The Binance mobile app offers two modes: Lite for beginners and Pro for experienced traders. The Lite version displays simple buy/sell options, price charts, and a portfolio overview. The Pro version provides full order books, margin and futures trading, advanced charting, and access to copy trading, bots, and Earn.
The app also integrates with the Web3 wallet, so you can access DeFi and NFTs within the same interface. It has all the top security features, like biometric login (fingerprint/face), device management, anti‑phishing codes, and the ability to freeze your account from the app.
Binance Earn is basically a high-yield savings account for your crypto. You can put your coins into various products like “Simple Earn” or “Dual Investment” to get a better return than just letting them HODL in your wallet. Now, within Earn, you will find:
Binance Web3 Wallet is a self‑custodial cryptocurrency wallet built into the Binance mobile app. The wallet uses multi‑party computation (MPC). Here, your private key is split into multiple shares. So, one share stays on your device, one stays on Binance’s servers, and the last one is saved in your personal cloud (such as iCloud or Google Drive).
Now, you need at least two shares to sign a transaction, so neither you nor Binance can move funds alone. The wallet supports multiple blockchains, including BNB Chain, Ethereum, Polygon, Arbitrum, Optimism, and more. It also has a dApp browser so you can interact with DeFi, yield farms, NFT platforms, and games within the app. Here is the full Binance Web3 wallet review.
Binance cloud mining allows you to earn Bitcoin (BTC) without having to buy expensive mining hardware yourself. You basically rent the “hash power” from the platform’s massive data centers, and they send the rewards to your account every day. This is a great way to get into mining if you live in a place where electricity is expensive or if you don’t have space for loud machines. You can read our in-depth Binance cloud mining review to know more.
Binance has its own marketplace where you can buy, sell, and even create your own Non-Fungible Tokens (NFTs). You can find digital art, gaming items, and collectibles from creators all over the world. The platform supports BEP‑721 and BEP‑1155 standards on the BNB Chain. You can check out the full Binance NFT marketplace review for more details.
Step 1: Click the “Open Account” button below to start Binance or download the Binance app, and register your Binance account using your email address, mobile phone number, Google account, or Apple ID.
Step 2: Check the “agree with Binance terms of service and privacy policy”, and click “Next” to proceed. Binance will then send a verification code to the email or phone number you added. Enter the code number and click Submit.
Step 3: At this step, you need to create a strong password (at least 8 characters, including uppercase letters and numbers).
Step 4: If you didn’t use the registration link in step one, add our Binance referral code here manually to get rewards. This code can give you up to $100 in a free crypto sign-up bonus. After that, Binance will ask you to complete your verification. Click “Continue” to start the verification process.
Step 5: Finally, once you finish the KYC verification process, it can generally take a few hours to two days to have your account verified and ready for use.
Follow the steps above and register your Binance account now to claim up to $100 in crypto rewards.
To deposit fiat on Binance, you need to go to the “Deposit” section, choose your local currency, select a payment method, enter the amount, and wait for confirmation.
To deposit crypto on Binance, you need to select the cryptocurrency, copy the deposit address, and send the funds from your external wallet.
To trade on Binance, you can start with the “Convert” feature if you want to swap coins without looking at charts, and for more control, you should use the “Spot Trading” interface, which gives you access to the full order book.
To withdraw from Binance, go to the “withdraw” section, choose coin, paste the withdrawal address, select the network and amount, and finally confirm the transaction.
There are currently over 500 cryptocurrencies available on Binance. You can generally find everything from the top-rated coins that everyone knows to small experimental projects (mostly on Binance Alpha).
Yes, Binance is a legit and safe crypto exchange. It uses industry‑standard security measures and has a large insurance fund. Here are its most advanced security systems:
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But yes, Binance has also faced many regulatory issues in various countries. But besides regulatory issues, it has also been involved in scandals and significant lawsuits, like the one filed against Binance.US by the SEC in June 2023.
Also, Binance and its CEO, Changpeng Zhao, pleaded guilty to anti-money laundering violations and other charges on November 21, 2023. Binance agreed to pay $4.3 billion to settle charges, while Changpeng Zhao stepped down as CEO and agreed to pay $50 million toward the settlement.
Yes, the Binance exchange can be trusted because it has a long history of protecting users and following international financial standards. You might hear about legal battles in the news, but the company has always worked with governments to resolve these issues and improve its systems.
There are over 300 million registered users globally without any problems, which is obviously a very strong sign of reliability. Actually, the company has survived many “crypto winters” and market crashes while remaining the number one exchange in the world. But still, it’s a custodial platform. So, we say, use Binance for trading and short‑term storage, then transfer your long‑term holdings to a personal hardware wallet you control.
The top alternative trading platforms to Binance are Coinbase, Bybit, OKX, MEXC, and KuCoin.
| Factors | Binance | Coinbase (Advanced) | Bybit | OKX | MEXC | KuCoin |
| Base spot fees (maker/taker) | 0.10% / 0.10% | 0.40% / 0.60% (volume-based) | 0.10% / 0.10% | 0.08% / 0.10% | 0.0000% / 0.0500% | 0.10% / 0.10% (some pairs differ) |
| Futures fees (maker/taker) | 0.02% / 0.05% | No data | 0.02% / 0.055% | 0.02% / 0.05% | 0% / 0.02% | 0.02% / 0.06% |
| Max leverage (futures) | Up to 125x | Up to 10x (limited only) | Up to 100x | Up to 125x | Up to 200x (pair-based) | Up to 125x (pair-based) |
| Supported coins | 500+ | 240+ | 1,200+ | 350+ coins | 3,500+ | 1,600+ |
| KYC Mandatory | Yes | Yes | Yes | Yes | No | Yes |
| Best for | All-in-one trading suite | Regulated & beginner-friendly | Derivatives traders | Pro traders | Low trading fees | Altcoin variety |
| Big callout feature | Spot, margin, futures, options, earn, copy trading | Strong fiat on-ramps | Competitive futures fees | Transparent fee tiers | 0% maker spot fee | Large token selection |
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