Binance is an international trading platform offering multiple crypto services. The platform was founded in 2017 by Changpeng Zhao and is the world’s largest cryptocurrency exchange by trading volume. Binance processes over $217 billion in daily trading volume and has more than 300 million users worldwide.
The platform offers the possibility to trade more than 400 coins, generate a passive income with staking and provides a complete Web3 ecosystem. Since 2025, Binance is led by CEO Richard Teng, after founder Changpeng Zhao (CZ) stepped down following a settlement with US authorities.
In this Binance review we dive deeper into the platform, take a look at the services and explain how you can trade on Binance.
First impression of Binance
Our first impression of Binance is that it offers many different services and emphasises the adoption of cryptocurrency by different means. At a glance, it becomes clear that different payment methods can be used, multiple services are offered, a long list of coins can be traded and all this via one single platform.
Binance is a complete crypto ecosystem: besides the exchange, the platform offers Binance Earn, Binance Pay, Binance Square (community), Binance Academy (education), a Web3 Wallet and copy trading.
There is both an iOS as well as an Android app, but also an application that you can download on your Windows or Mac device. Binance also offers 24/7 support, a blog with updates about the crypto world and a community in which an international user base discusses any crypto topic you can think of.
Binance review summary:Â Binance is the world’s largest crypto exchange with over 300 million users and 400+ cryptocurrencies. The platform offers spot, margin, futures, options and copy trading.Â
The spot trading fees are 0.10% maker/taker, with extra discounts via BNB and 20% commission back via our deal. The SAFU insurance fund was fully converted to Bitcoin in February 2026, worth $1 billion (15,000 BTC).
Exclusive deal with Binance (20% discount for life)
Binance makes it possible to give back 0%, 5%, 10%, 15% or 20% of the commission as a promotor to traders. Most websites choose to give back 0% to 10% to their visitors. However, we give the full 20% commission back to our readers. So, create an account via our link and receive a lifelong cashback of 20% on all your spot trades.
The cashback has been successfully applied when you see the following message: Your commission kickback percentage: 20%.
Lifetime 20% Binance cashback on all fees
Why choose Binance?
- Low trading fees of 0.10% per transaction + 25% BNB discount + 20% cashback on all your trades (lifetime).
- More than 400 coins and 1,500+ trading pairs.
- Different interfaces for beginning, experienced and professional traders.
- World’s highest trading volume and liquidity ($217 billion per day).
- Generate a passive income with Binance Earn and put your coins to work.
- Binance Pay: pay with crypto at participating merchants.
- Binance app for iOS and Android.
- 24/7 support.
- SAFU insurance fund of $1 billion (15,000 BTC).
- Copy trading and automated trading bots.
- Web3 Wallet with access to DeFi and dApps on 30+ blockchains.
- Binance Alpha: early access to new crypto projects.
Summary
| Offer | 400+ coins and 1,500+ trading pairs. |
| Fees | Max. 0.10% + volume tiers for extra discount.. |
| Payment methods | Crypto, SEPA, Wero, credit card, P2P and more. |
| Staking | Yes, via Binance Earn. |
| Built-in wallets | Yes, for all coins + Web3 Wallet (self-custody). |
| Insurance | Yes, SAFU fund of $1 billion (15,000 BTC). |
| Deals | Yes, we share 20% commission with our readers. |
| Account | Required (KYC mandatory for all users). |
| API | Yes, automatic trading is possible. |
| Customer service | 24/7 |
| E-mail address | support@binance.com |
Binance Pros and Cons
| Pros | Cons |
|---|---|
| High brand awareness and highest trading volume worldwide | Not available in all countries |
| Low fees: 0.10% with BNB discount + 20% commission back | No MiCA licence yet (application pending in Greece) |
| $1 billion SAFU insurance fund (15,000 BTC) | Interface can be overwhelming for beginners |
| Extensive ecosystem: Earn, Pay, Web3, Copy Trading | Â |
Binance offer
The offer of Binance is extensive. You can buy and sell Bitcoin, Ethereum, Solana, BNB, Litecoin and Chainlink via Binance. The platform offers more than 400 coins and 1,500+ trading pairs. New coins are regularly listed via Binance Alpha, the platform for early crypto projects.
Binance supports the following trading types:
- Spot trading:Â buy and sell crypto at the current market price.
- Margin trading:Â trade with borrowed funds up to 10x leverage (cross margin up to 5x, isolated up to 10x, cross margin pro up to 20x).
- Futures trading:Â speculate on future price movements with up to 125x leverage (not available in Europe).
- Options trading:Â buy and sell options on cryptocurrencies (not available in Europe).
- Copy trading:Â automatically copy the trades of successful traders.
- P2P trading:Â buy and sell crypto directly from other users.
Please note:Â Futures, options and derivatives are not available for European users due to regulations.
Guide how to trade on Binance
Here we explain how Binance works and how to open a buy and sell order. It works slightly different than a broker. But with our guide, we are confident that you will quickly get the hang of it.
Deposit crypto on Binance
First of all, make sure you have an account at Binance. KYC verification is mandatory for all users before you can trade or deposit.
- Make sure you are logged in on Binance.
- Go to Wallet and click on Spot (Deposits and Withdraw).
- Search the coin you own, in our example we use Bitcoin.
- Under Action, click on Deposit.
- A new Bitcoin wallet address will be generated for you.
- Make sure your deposit network is BTC and send your Bitcoin to the shown BTC address.
- After a successful deposit, you will receive an e-mail.
If you don’t own crypto yet, you can buy crypto via the Binance platform and it will be deposited directly into your Binance wallet.
If you prefer a cheaper option you can compare Bitcoin prices here.
How to place a buy order
If all goes well, you now have Bitcoin in your wallet and you can trade it for another currency. Which currency you want to trade Bitcoin for is up to you. It is wise to first research the currency you are going to buy.
The trick is to trade Bitcoin for a coin which you expect to rise faster than Bitcoin. When you exchange the coin back for Bitcoin after the rise, you will see that you have more Bitcoin. We choose Chainlink for our guide.
- Make sure you are logged in on Binance.
- Go to Trade and click Classic.
- Search the coin you want in the upper right corner, make sure you are searching for the abbreviation.
- A page will open with the order book, a chart, active orders and buy and sell widgets.
- At the bottom, you will see Buy LINK. And a little above that you’ll see Limit and Market:
- Market order: the order will be immediately executed at the current market price.
- Limit order: the order will be executed when the set BTC price per LINK is reached.
- Choose the desired order option and click Buy LINK.
You can view your order at the bottom of the page in your Order History. You will also see that when the order has been executed, your new tokens have been added.
How to place a sell order
If you want to sell the coins again, because you have made a profit or because you want to exchange them for another coin, you can place a sell order.
The trick is, in this case, to sell your Chainlink again and get more BTC out of it. This because the value of Chainlink rose faster than that of BTC.
- Make sure you are logged in on Binance.
- Go to Trade and click on Classic.
- Search for the currency you want on the top right, make sure you search for the abbreviation here.
- A page will open with the order book, a chart, active orders and buy and sell widgets.
- At the bottom, you will see the Sell LINK. And a little above that you will see Limit and Market:
- Market order: the order is immediately executed at the current market price.
- Limit order: the order will be executed when the set BTC price per LINK is reached.
- Choose the desired order option and click on Sell LINK.
At the bottom of the page in your Order History, you can view the executed order. You will also see that when the order has been executed your Bitcoins have been credited.
Binance services
Binance offers various crypto services. We have listed some of them for you:
Buying crypto with euro, dollar or any other fiat currency
There are several ways to buy crypto via Binance, including SEPA bank transfer, credit card and P2P trading. In some regions, local payment methods like Wero, iDEAL and Bancontact are available through third-party providers.
Please note that you will need to verify your details if you have not already done so.
Binance Earn: generating passive income
Binance Earn is a service that allows you to earn interest on your crypto. The service offers several options:
- Simple Earn (Flexible):Â deposit and withdraw whenever you want, lower interest rates.
- Simple Earn (Locked):Â higher interest rates, but your crypto is locked for a set period.
- Launchpool:Â stake BNB or other tokens to earn new tokens.
- Dual Investment:Â more advanced product with higher potential returns and risks.
- Smart Arbitrage:Â automated arbitrage product that profits from price differences.
- Auto-Invest:Â automatic DCA (Dollar Cost Averaging) strategy for periodic purchases.
Interest rates vary significantly per coin and duration. Past results do not guarantee future returns.
Binance Pay
After discontinuing the Binance Visa Card in Europe (December 2023), Binance Pay is the alternative for spending crypto. With Binance Pay you can pay contactless at participating merchants and send crypto to other Binance users worldwide. You don’t need a physical card, just the Binance app.
Binance Web3 Wallet
The Binance Web3 Wallet is a self-custody wallet integrated directly into the Binance app. Unlike the regular Binance wallet (custodial), with the Web3 Wallet you control your own private keys via MPC (Multi-Party Computation) technology. This means no seed phrase is required.
The Web3 Wallet supports more than 30 blockchains and provides access to DeFi protocols, NFT marketplaces, DEXs (decentralised exchanges) and thousands of dApps. You can swap tokens via Binance Bridge and easily move assets between your exchange wallet and Web3 Wallet.
Binance Square
Binance Square is the social platform within Binance, comparable to X. Here you can follow market updates, read content from crypto creators, participate in community discussions and find airdrop information. It is the successor of the old Binance Feed and is now a prominent part of the app.
Binance Futures Trading
With Binance Futures Trading, experienced traders can go long or short on Bitcoin with leverage up to 125x. The platform offers over 200 futures contracts, divided into USDⓈ-M and COIN-M types.
Important: Futures and derivatives are not available for European users since 2021.
Binance Launchpad and Binance Alpha
Binance Launchpad is a token launch pad from Binance. New blockchain start-ups can launch their new tokens here and make use of Binance’s brand awareness.
Binance Alpha is the newer platform for early crypto projects. In 2025, 221 tokens were launched via Binance Alpha. Approximately 17% of these tokens eventually reached the regular Binance Spot exchange. Via Alpha, users can invest early in new projects, but the risk is significantly higher than with established tokens.
Copy Trading and Bots
Binance offers copy trading, allowing you to automatically copy the trades of successful traders. Additionally, automated trading bots are available for grid trading, DCA (Dollar Cost Averaging) and arbitrage strategies. This makes the platform also attractive for less experienced traders who want to benefit from the strategies of professionals.
Binance Academy and Learn & Earn
Binance Academy is the free education platform from Binance. Here you can find articles, videos and quizzes about crypto, blockchain and Web3. Via the “Learn and Earn” programme you can even earn crypto by completing quizzes about specific projects.
24/7 Support
Binance offers support in various ways. In the Support Centre, you will find a lot of information on different topics. If you can’t find the answer yourself, Binance also offers 24/7 support via the chat function or by e-mail at support@binance.com. Support is available in 18 languages, including English, German and French.
Verifications and limits
KYC verification is mandatory for all Binance users. Without KYC you cannot open an account or trade. This has changed compared to the past, when you could withdraw up to 2 BTC per day without verification.
For verification you need:
- Personal details: name, date of birth, home address
- Photo of your ID card or passport
- A selfie or facial verification
- In some cases address verification (bank statement or utility bill)
After verification you have access to all features of the platform, including higher deposit and withdrawal limits.
Binance fees and other costs
The Binance fees are relatively low. The spot trading fees are 0.10% maker and 0.10% taker at the base level. This is low when comparing it to a competitor like Coinbase (up to 1.49%) or OKX (up to 0.35%).
You can save even more with the following discounts:
- 20% commission back: via our exclusive deal you automatically receive 20% of your trading fees back after every trade. This works via commission sharing and is permanent.
- BNB discount:Â hold Binance Coin (BNB)Â in your account and pay 25% less fees.
- Combine:Â the 20% commission back can be combined with the 25% BNB discount. Your effective costs then become just 0.06% per trade.
- Volume tiers:Â the more you trade, the lower your fees. There are 9 VIP levels.
- Promotions:Â certain trading pairs (like BTC/FDUSD) are regularly commission-free.
Fee overview Binance spot trading:
| Level | 30D Volume (USD) | Maker | Taker | With BNB | With BNB + 20% back |
|---|---|---|---|---|---|
| Regular | < $1M | 0.1000% | 0.1000% | 0.0750% | 0.0600% |
| VIP 1 | ≥ $1M | 0.0900% | 0.1000% | 0.0675% / 0.0750% | 0.0540% / 0.0600% |
| VIP 2 | ≥ $5M | 0.0800% | 0.1000% | 0.0600% / 0.0750% | 0.0480% / 0.0600% |
| VIP 3 | ≥ $20M | 0.0420% | 0.0600% | 0.0315% / 0.0450% | 0.0252% / 0.0360% |
| VIP 4 | ≥ $100M | 0.0420% | 0.0540% | 0.0315% / 0.0405% | 0.0252% / 0.0324% |
| VIP 5 | ≥ $150M | 0.0360% | 0.0480% | 0.0270% / 0.0360% | 0.0216% / 0.0288% |
| VIP 9 | ≥ $4B | 0.0110% | 0.0230% | 0.0083% / 0.0173% | 0.0066% / 0.0138% |
*At VIP 1 and higher, maker/taker fees differ. The column shows maker / taker.
Fee calculation example:Â You place a trade of $1,000.
- Standard: $1.00 in trading fees (0.10%).
- With 20% commission back: you pay $1.00 and receive $0.20 back = effectively $0.80 (0.08%).
- With BNB discount: you pay $0.75 (0.075%).
- With BNB discount + 20% back: you pay $0.75 and receive $0.15 back = effectively just $0.60 (0.06%).
Withdrawal fees vary per crypto and network. You pay network fees that are used to process the transaction on the blockchain.
Is Binance safe?
Binance is the world’s largest trading platform with over 300 million users. You can imagine that they are under constant attack by criminals. In the past, criminals successfully attacked the platform and hackers took 7,000 BTC in a single transaction. The communication was excellent and all losses could be covered by the SAFU insurance fund, so no user was a victim of the attack.
The SAFU fund was fully converted to Bitcoin in February 2026. The fund now contains 15,000 BTC worth approximately $1 billion. Binance has committed to replenishing the fund if the value drops below $800 million. All holdings are verifiable via a public blockchain address.
Binance regularly publishes a Proof of Reserves, allowing users to verify that their assets are actually present on the platform.
Settlement with US authorities
In 2023, Binance paid a $4.3 billion settlement to US authorities for violations of anti-money laundering and sanctions rules. Founder and former CEO Changpeng Zhao (CZ) pleaded guilty and served a four-month prison sentence. Since 2025, Binance is led by CEO Richard Teng, who has a background in financial regulation.
This is relevant context for assessing the reliability of the platform. Binance has since invested heavily in compliance and regulation, but the history remains a point of attention.
Regulation
Binance has applied for a MiCA licence in Greece (January 2026) to regain access to the European market. If approved, Binance can offer its services across the entire EU through the “passporting” system. The platform also holds licences in multiple jurisdictions worldwide.
Always take the following precautions for extra security:
- Use a unique e-mail address and a strong password.
- Activate 2FA.
- Never click on advertisements or links in e-mail messages.
- Enable an anti-phishing code when communicating.
- Withdraw funds that you do not trade with.
Binance vs Bybit: comparison
For traders looking for an alternative or complement to Binance, Bybit is one of the most relevant options:
| Â | Binance | Bybit |
|---|---|---|
| Offer | 400+ cryptos | 1,700+ cryptos |
| Trading fees | 0.10% (0.06% with BNB + 20% back) | 0.10% maker / 0.10% taker |
| Daily volume | $217 billion | $36+ billion |
| Insurance | $1 billion SAFU (15,000 BTC) | Proof of Reserves |
| Users | 300+ million | 60+ million |
| Futures/Derivatives | Yes (not in EU) | Yes, up to 200x leverage |
| Copy Trading | Yes | Yes |
| Web3 Wallet | Yes (30+ chains) | Yes |
| Trading Bots | Yes | Yes (Grid, DCA, Martingale) |
| Earn | Yes (Flexible, Locked, Launchpool) | Yes (Flexible, Fixed, Launchpool) |
Conclusion:Â Binance has the highest liquidity and the largest user base worldwide, making it ideal for high-volume traders. Bybit offers a larger coin selection and competitive fees, especially for derivatives traders. Both platforms offer extensive ecosystems with Earn, copy trading and Web3 wallets.
FAQ Binance.com
What are the Binance fees?
You pay a standard fee of 0.10% per transaction (maker and taker). When you hold the Binance token (BNB) you can reduce the fees with a 25% discount. Via our exclusive deal you receive an additional 20% of your trading fees back automatically after every trade. Combined, you effectively pay just 0.06% per trade. With higher trading volumes, fees decrease further via the VIP system.
How many coins can you trade on Binance?
More than 400 coins and 1,500+ trading pairs.
What payment methods are supported by Binance?
Binance supports SEPA bank transfer, Wero, credit card, P2P trading and crypto deposits. Availability of local payment methods varies by region.
Is Binance available in Europe?
Binance has applied for a MiCA licence in Greece (January 2026). If approved, the platform can offer its services across the entire EU through the passporting system. Availability varies by country.
What is a good alternative for Binance?
Popular alternatives include Bitvavo (440+ cryptos, MiCA licence, ideal for European users), Bybit (1,700+ cryptos, derivatives) and OKX (150+ cryptos, Web3 focused).
Does Binance have a MiCA licence?
Not yet. In January 2026, Binance applied for a MiCA licence at the HCMC in Greece. The application is being processed on an accelerated basis. If approved, Binance can offer its services across the entire EU.
What is the SAFU fund?
The SAFU (Secure Asset Fund for Users) is an insurance fund from Binance to protect users in case of hacks or security issues. In February 2026, the fund was fully converted to 15,000 Bitcoin worth approximately $1 billion. Binance replenishes the fund if the value drops below $800 million.
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