Binance Review 2025: A Legit and Safe Crypto Exchange?
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Binance review in 2025 finds that it is one of the leading trading platforms with an estimated $65 billion in average daily volume. Supporting over 500 cryptocurrencies and operating in more than 180 countries, it has earned its place as one of the most trusted names in digital asset trading. But what is Binance, and is Binance legit or is Binance a scam? If you’re wondering, “Can I use Binance in the US?” or “Is Binance US safe?”, you’ve come to the right place.
So before you sign up, have a look at our comprehensive Binance review that covers everything from minimum fees to pros and cons, ratings, and how Binance stacks up globally.
Binance Review: Summary
Binance is a crypto trading platform that offers some of the most competitive fees around. Throw in a huge selection of cryptoassets to trade and a load of advanced trading tools as well. Whether you’re a beginner logging into the Binance website for the first time, or a seasoned trader wondering if you should set up a Binance account, there is something about the Binance platform that will appeal to you.
The platform accepts users from around the world and has received favorable reviews from the crypto community. The exchange has also partnered with 3rd party companies such as Simplex, to allow credit card and wire transfer purchases of cryptocurrencies at a premium. U.S. users must trade on Binance-US, which differs slightly from the Binance service available to the rest of the world – however, it is much more compatible with US trade regulations.
Key Features of Binance Global
- Tons of Supported Cryptocurrencies: Binance supports over 500 cryptocurrencies, rivaling any other crypto exchange out there.
- Very Low trading fees. Binance trading fees are some of the lowest in the industry. Additionally, Binance offers fee-free trading on multiple BTC and ETH pairs.
- 24/7 Customer Support: With around-the-clock customer support via live chat as well as responsive Twitter and Discord accounts, Binance customer support is as good as it gets.
- Binance Fiat Gateway: Allows users to buy many popular cryptocurrencies with their choice of over 100 different fiat currencies.
- Margin Trading With Up To 3x Leverage: The leverage option allows for enhanced market exposure.
- Plenty of Advanced Trading Tools: Users can access a wide range of professional-grade tools to refine their trading strategies.
- Huge Selection of Crypto Products and Trading Instruments: There is no dearth of trading instruments, from spot and futures trading to staking and NFTs.
Key Highlights: Binance Review
- Binance’s P2P trading makes it super easy for users to buy and sell directly with others, using local payment methods that fit their needs.
- The Binance Visa Card is a game-changer—it lets you spend your crypto like cash and even gives you up to 8% cashback on your purchases.
- Binance Liquid Swap is perfect for smooth trading with low slippage, and you can even earn rewards by providing liquidity to the pools.
- Need funds but don’t want to sell your crypto? Binance’s loan service lets you borrow against your holdings, keeping your assets intact.
- Binance is serious about staying on the right side of global regulations, constantly updating its platform to ensure a secure and compliant trading experience.
Binance Overview
What is Binance Exchange?
Binance is a cryptocurrency exchange that was founded in 2017 by Chinese-Canadian developer, Changpeng Zhao (aka CZ). Zhao’s company Beijie Technology created the exchange after a successful ICO that raised $15 million. Having originally been based in China, Binance moved its headquarters to the Cayman Islands following the Chinese government’s increasing regulation of the cryptocurrency industry. Binance is the largest crypto exchange in the world by trade volume.
Investors who invested in Binance’s ICO got Binance Coin (BNB) in return, which could be used to trade cryptocurrencies and pay for fees on Binance. BNB is now also used to power BNB Chain, formerly known as Binance Smart Chain. BNB’s initial value was around $0.1, and has continued to appreciate with the rise of Binance and BNB chain.
(BNB)
Beijie Technology and its founder maintain an impressive track record within the industry. Zhao’s CV includes high-profile positions, such as technical director at Blockchain.com, and his company now provides trading systems for over 30 other platforms.
Binance’s Regulatory Struggles
Following struggles with the Chinese government’s views on cryptocurrencies, Binance now runs its servers from more lenient locations, providing it with the freedom to run a competitive exchange service:
“In response to China’s decisions, we are moving our IP’s from Hong Kong to an offshore location. So we are registered in multiple locations and we have people in multiple locations. That way we will never be affected by one regulatory body,” explained Zhao.
The scrutiny intensified in 2023, especially in the United States, where both Binance and CZ faced lawsuits from the Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC). These lawsuits alleged that Binance had engaged in activities that violated US laws, such as allowing US customers to trade unregistered securities and operating as an unlicensed securities exchange. Further complicating matters, the US Department of Justice pursued investigations regarding potential violations of money laundering and sanctions laws.

In a landmark settlement in late 2023, Binance and CZ agreed to pay $4.3 billion in fines and pled guilty to charges related to regulatory lapses. This settlement underscored the growing regulatory crackdown on cryptocurrency exchanges and highlighted the challenges faced by Binance and other major platforms in navigating a complex and evolving regulatory landscape. Despite these issues, Binance remains influential in the crypto ecosystem, with CZ continuing to be a central figure, albeit one now navigating an increasingly cautious path in compliance and regulation.
How has Binance Transitioned?
CZ stepped down as the CEO of Binance in November 2023 as he was sentenced to four months in prison for violating money laundering rules. CZ was officially released from prison in September 2024.

Considering it is the largest crypto exchange in the world, it is no surprise that US regulators on a war path against crypto have chosen a Chinese-based (originally) crypto exchange as its scapegoat.
With Binance’s dominance and rapid growth came increased scrutiny from global regulators. Starting in 2021, Binance encountered regulatory challenges in various countries, including the United Kingdom, Japan, Canada, and Germany, for operating without proper licenses and alleged lapses in anti-money laundering (AML) compliance. In response, Binance began implementing stricter “know your customer” (KYC) measures and expanding its compliance team, while CZ publicly expressed the company’s intent to work collaboratively with regulators.
The leadership transition for Binance was big after CZ stepped down. By 2025, Binance has not zeroed on a global base. Current CEO Richard Teng said in a recent interview that Binance is still working on deciding a headquarter, noting that “It’s a very complicated issue with many different complexities.”
Still, the exchange has experienced astounding success since its launch and comfortably sits at the number 1 spot in terms of 24-hour trading volume on Coinmarketcap. It typically has more than 5 times the 24-hour trading volume of its closest competitor, Coinbase.
Binance Services
The exchange brings everything you need into one platform, offering services for beginners and pros alike to make your crypto journey seamless and hassle-free.
Binance Exchange Review
Binance‘s Exchange allows users to exchange fiat for Bitcoin or other altcoins. There are several ways you can buy Bitcoin on Binance:
P2P trading
A very neat feature, the Binance website also has a peer-to-peer (P2P) trading service, which connects buyers and sellers of cryptocurrency directly. This facilitates fiat payments, with a wide variety of payment options that depend on the users’ preferences.
Credit/Debit card
Binance has partnered with Simplex to provide a brokerage service supporting credit and debit cards. This service allows you to buy a variety of different cryptocurrencies with a credit or debit card, as well as using these cards to deposit fiat currency into your account.

Pro Tip: Buying crypto with a card is typically the easiest and quickest way to buy crypto on most exchanges, but this convenience comes with hefty fees, often as high as 4.5%. Bank/Wire/Sepa transfers, while slower, are typically the lowest-fee way of transferring cash to your crypto trading account.
SEPA/Wire transfers
Thanks to integrations with additional 3rd party providers, Binance now allows its users to buy crypto directly with fiat using SEPA & bank transfers. This option is especially attractive, as SEPA & wire deposits entail no transaction fee at all. On the downside though, this payment method is only available for a few fiat options such as SEPA for EUR (excluding the Netherlands & Switzerland), and wire transfers for USD (domestic wire & ACH), TRY & BRL.

Lastly, Brave Browser, the privacy-focused browser integrated a Binance Widget for in-browser trading. The widget allows users to buy and trade crypto through Binance, as well as view and manage their crypto portfolio.
Binance Trading Platform
Trading with your Binance account is fairly easy and user-friendly. There’s an impressive cryptocurrency selection available for trading, in conjunction with Bitcoin, Ether, BNB, XRP, TRX, DOGE, DOT, BUSD, and Tether trading pairs. There is also a large selection of crypto-to-fiat pairs available on Binance’s fiat markets.
Users can choose between a beginner-friendly or advanced trading interface for spot trading, catering to all types of users. The platform also offers margin, derivatives, peer-to-peer and OTC trading options.
Spot trading
For spot trading, users can select between two primary interfaces. The “Convert” interface is the beginner-friendly option, which removes all of the advanced features such as charts and different order types. This makes it easy for newbies to swap between cryptocurrencies at market rates, without any confusion.
There is also a regular trading interface for advanced users, which has all of the typical exchange features – charts, order books, different order types and more are all accessible in the default spot trading interface.

Margin Trading
Margin trading is available for selected trading pairs, allowing users to trade with leverage of up to 10x on some coins. Users can choose between cross margin, which risks your entire margin account balance, and isolated margin, which restricts your potential losses to a single trading pair. Binance margin trading is not available to users of Binance US. Therefore, binance US leverage option is limited in the region.
Binance Futures and Derivatives
Binance Futures, which was launched in 2019, enables traders to speculate on the price of (rather than purchase and sell) Bitcoin and various popular cryptocurrencies, including Bitcoin Cash, Ethereum, Litecoin, Ripple, and more.
The platform allows leveraged trading of up to 20x, which means that traders can multiply their profits (but also losses) by 20 times.
Binance Futures balances are held separately from users’ regular trading accounts and must be funded with Tether (USDT) as collateral. All profits and losses will also be realized in USDT.
The user interface for Binance Futures looks almost identical to the Binance spot trading interface, aside from a few extra functions for controlling leverage and viewing open positions.

Fees on Binance Futures are slightly different from their spot markets, with maximum trading fees of 0.04% on any trade. Fees are lower for “maker” trades (which add liquidity to the order book before execution), or for users with large monthly trading volumes.
Binance also offers futures that are collateralized using non-stablecoin cryptocurrencies such as Bitcoin or altcoins, under a separate tab named “Coin Futures”.
Additionally, Binance offers derivatives called “Leveraged Tokens”, which provide UP and DOWN contracts betting on the price of certain cryptocurrencies. These give the buyer leveraged exposure to cryptocurrencies without the risk of liquidation.
Unfortunately, Binance has been forced to suspend its derivative trading in many countries across Europe, starting with Germany, Italy, and the Netherlands and also recently extending to the United Kingdom and Spain. This comes after pressure from global regulators, particularly those in Europe who have decided that Binance is unauthorized to provide investment services. This has forced the exchange to stop offering the services to new customers and wind down usage among existing customers.
Binance Financing
The latest addition to Binance’s services is its financing option:
Savings
Binance Savings allows users to make a return on idle funds, through “flexible” or “locked” account types. Flexible savings accounts yield variable interest rates, while locked savings accounts pay higher interest on fixed-term deposits.
Staking
Binance also provides a staking service, which allows users to earn returns on proof-of-stake and decentralized finance (DeFi) coins, without needing the technical knowledge to stake the coins themselves. Similar to the savings accounts, the staking service is available in flexible and locked options. If you are a fan of staking, check out our Top Staking Coins in 2025 to find which coins are offering the highest returns.
Binance Smart Pool
Binance Smart Pool allows miners to contribute to a larger mining group which splits rewards. Hash power is automatically redirected to the most profitable cryptocurrency to mine at any moment, providing users with hands-free optimization.
Binance Visa Card
The Binance Visa Card allows users to spend their cryptocurrency holdings in places that only accept fiat currency via credit or debit card. Behind the scenes, your crypto holdings will be converted to fiat when you make a purchase (with zero fees), so that you don’t have to hold fiat on-hand. The card is completely free with no admin or processing fees and lets you earn up to 8% cashback on eligible purchases.
Crypto Loans
Binance Loans offers loans to users in a variety of tokens, collateralized with some of the more popular tokens like, BTC, ETH and ADA. This provides an easy way to get your hands on stablecoins like USDT, BUSD or USDC, while maintaining exposure to your cryptocurrency holdings and avoiding the taxable event of selling crypto. Instead of getting a loan out through one of your bank accounts you can just hop onto the Binance website or the Binance app and take a loan out against your crytpocurrency.

Binance Liquid Swap
Binance Liquid Swap is an automated market-maker (AMM) platform, similar to Uniswap, and is based on a pool of liquidity. There are two tokens in each pool, and the relative amount of tokens determines the price between them. Liquid Swap offers more stable prices and lower fees for large transactions. Users can trade coins on Liquid swap with minimal slippage, or provide their liquidity in return for a share of fees. The key difference between Binance Liquid Swap and Uniswap is that Liquid Swap is centralized.
Binance.US Exchange
Launched in 2019, Binance US was created to ensure a compliant and stress-free trading experience for US users. A key benefit is that US users can deposit USD directly into their trading account, as well as trade directly against the US dollar.
The platform is a slightly more simplified version of the global exchange, however carries most of its core trading features – including low fees capped at just 0.1%. At the time of writing, Binance.US even has zero-fee trading on Bitcoin trading pairs against USD and most US dollar stablecoins, as it seeks to gain a larger market share against its local competitors.
Unfortunately, a much smaller range of assets are available to trade on Binance.US when compared to the global platform. Trading volumes also tend to be significantly lower.
Aside from trading services, Binance.US also offers staking for proof-of-stake (PoS) coins. This provides an easy way for token holders to participate in these networks and earn staking rewards, without the need for technical expertise or any special hardware/software requirements.
Currencies and Payment Methods
All in all, there are over 500 coins available to trade, deposit and withdraw on the exchange, including major altcoins such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Chainlink (LINK)
- Binance Coin (BNB)
- Binance USD (BUSD)
- Basic Attention Token (BAT)
- Cosmos (ATOM)
- Dash (DASH)
- EOS (EOS)
- Nano (NANO)
- Paxos Standard (PAX)
- TRON (TRX)
- TrueUSD (TUSD)
- Tether (USDT)
- Stellar Lumens (XLM)
Crypto can be traded for fiat (or other crypto) on the trading platforms or purchased directly using these payment methods:
- Credit/ Debit card
- SEPA
- Bank transfers
Binance Fees
In a competitive space, the fee structure of Binance is cutting-edge. Its team members have sharpened their knives and are slicing the opposition apart. Other major cryptocurrency exchanges simply can’t keep up with Binance’s shockingly low trading fees.
Spot trading fees start at 0.1% which is very enticing for any trader who doesn’t need immediate fiat liquidation. Binance has a VIP-level system that reduces rates as your 30-day trading volume increases. The lowest spot rates for VIP level 9 are 0.02% / 0.04% for maker orders and taker orders. Traders that use Binance’s futures trading platform enjoy even lower fees, starting at 0.02% / 0.04% for VIP level 0 maker and taker orders, but can go as low as 0.00% / 0.01% for the highest volume VIP level 9 traders.

Incredibly, Binance undercuts most other large exchanges, some of which charge upward of 0.2%. That’s a pretty sizable difference if you’re working with large orders.
Is Binance free? Deposits are free, as you’d expect (aside from blockchain fees that are always paid by the sender). Withdrawal fees do apply, although they generally correlate with the blockchain transaction fees as well.
Binance withdrawal fees for fiat and crypto seem to be updated on a regular basis, to try and offer a fair price.
Binance.us fees structure is also competitive and tiered. It removed its zero-fee pricing for certain pairs, like BTC/USDT in 2024.

Binance Limits
Binance uses the same VIP ranking system mentioned earlier to dictate withdrawal limits. The lowest level VIP level 0 members can withdraw up to 8,000,000 BUSD within a 24-hour period. The highest level VIP level 9 users can withdraw up to 96,000,000 BUSD in a 24-hour period.
In terms of Binance minimum deposit requirement, there might be a threshold depending on the cryptocurrency and network that you are using. Make sure to check the latest requirements for a specific trade before taking a crypto position.
Is Binance Secure?
Binance offers a range of security features for users, including two-factor authentication (2FA) through the Google Authenticator app or SMS, address whitelisting, device management, and options to restrict device access for added protection.
According to Certified, the exchange security analysts credit Binance with a AAA security rating, ranked number 8th overall, which is pretty solid.

As always, users are encouraged to perform all the usual measures for personal security of their crypto like password protection, secure wallets, and not storing too much of your crypto on exchanges.
Remember, not your keys not your coins. Here are some of the wallets we have personally used, reviewed, and recommend for secure crypto storage:
Pro Tip: In addition to storing your crypto in a secure wallet off the exchange, using a VPN can also help by encrypting your web traffic.
Binance Supported Countries
The exchange supports its mobile application in around 170 countries.
Binance isn’t available in a few places like the United States, and Singapore. In other countries, such as Malaysia, Japan, the UK, and Thailand, some features might be restricted because of local regulations. If you’re in Germany, Italy, or the Netherlands, you won’t have access to Binance’s futures and derivatives trading.
Is Binance available in the US? Customers from the USA can now use Binance US after Binance withdrew its main service from the country. Binance US was launched in 2019 after the platform came under fire by the US Department of Financial Services radar for potential violation of New York’s virtual currency regulations.
Since then, there have been reports from certain users that Binance has closed their accounts in certain countries such as Iran and Serbia. In May 2023, Binance has officially declared it will no longer support the Canadian market. Binance made an exit from India but re-entered the region in 2024 after registration with the country’s financial intelligence unit. Before registration with FIU-IND, Binance reportedly paid a fine of around $2.25 million.
Customer Support and Reviews
There’s a lot to love about Binance, and many traders continue to be upbeat about the service. Low fees, a responsive exchange, and developers with a proven track-record leave most people beaming. Binance has generally been considered an overwhelming success in its life so far. In the mean time, Binance US review has turned positive for its compliance and competitive offerings.
Hitesh Malviya, founder of DYOR crypto app, believes that Binance is a top choice for traders and investors.
“I believe the product is much superior; they’ve built a crypto super app that is not easy to replace,” the influencer added.

In terms of backlash, Binance is a CEX and crypto investors who believe self-custody, would want to go to a different route. But, the exchange is infamous for the ‘Binance Effect,’ which is a positive price reaction upon an asset listing on Binance. An analysis by Ren & Heinrich noted that an asset adds 41% to its price in a day of its listing on the exchange.
What is worth noting is that Binance has a comprehensive support page, with an extensive FAQ section. It will answer or guide you through most problems you may encounter. If the FAQ section can’t help you, there is an automated bot to help you find the answer to your question or resolve your problem. If that doesn’t work, you can submit a request to chat with a customer service representative.

If you already have a case ID, you can send a direct message to the Binance Help Desk Twitter account, or use the Binance Support Thread on Reddit quoting your case ID. Do keep in mind that you may have to wait a while for a response, simply due to the sheer volume of cases that are submitted.

Complaints about Binance’s verification methods and live chat support have become more common following their shift to compulsory identity verification. This appears to involve unnecessarily long waiting times within the “live chat” function of as long as 12 hours, in many cases without successful assistance or resolution of verification issues. It is unclear whether this is a temporary issue due to high traffic, or a problem that will continue to linger for Binance users.
The exchange has also historically had issues with faulty 2-factor authentication, however this appears to no longer be a common issue.
A unique allegation that came up against Binance is that it lists coins (more specifically shitcoins) in exchange for money. This claim was denied by the company.
Binance Review: Binance Pros and Cons
Pros Cons
That’s Binance review in a nutshell. Keep reading to get more details on the largest exchange by volume against its competitors.
Binance vs. Other Exchanges
Since Binance provides only trading services, let’s compare its fee schedule to other reputable trading platforms.
Binance vs Coinbase (Advanced)
Coinbase Advanced is Coinbase’s trading platform. It is a step up from the basic Coinbase account with simple buys and sells. Coinbase Advanced offers slightly lower fees than the main Coinbase interface and allows for more complicated trading tools. It is one of the leading exchanges around in terms of reputation and adoption.
Aside from the limited availability of the platform worldwide (supports 103 countries), the platform fees start at 0.6%, 6 times higher than the highest fee tier on Binance. Binance offers larger spot crypto support, more trading features, and lower fees. You can read our full Coinbase review.
Binance vs Bitfinex
Bitfinex, one of the world’s biggest Bitcoin exchanges by volume, offers advanced trading options such as Bitcoin margin trading which is suited more to advanced traders.
Bitfinex supports over 150 cryptocurrencies and tokens, which is significantly less than Binance which supports over 500. You can read our Bitfinex review.
Bitfinex works on a maker/taker fee schedule. Maker orders, which add liquidity to the exchange, have a 0.1% fee at maximum (similar to Binance). Taker orders, which remove liquidity from the exchange, have a 0.2% fee at maximum (twice than Binance).
Just like on Binance, fees are reduced as your trading volume increases.
Binance vs Kraken
Kraken, headquartered in San Francisco, California, is one of the oldest cryptocurrency exchanges around. It operates across the United States (with the exception of New York due to the BitLicense), as well as in the European Union and Japan.
The platform supports over 110 different cryptos, much lower than the 500 cryptos found on Binance. You can read our Kraken review.
Like Bitfinex, Kraken Pro also works on a maker-taker fee schedule. Makers have a max fee of 0.16%, while takers have a max fee of 0.26%. In both cases Binance wins with lower fees. Non-pro Kraken users have even higher fees of 0.9% for stablecoins and 1.5% for other cryptos.
Exchange Supported Cryptocurrencies Maker Fee Taker Fee Lowest Trading Fee Binance Around 500 coins and 1300 pairs 0.10% 0.10% 0% for select pairs Coinbase Advanced 260+ coins and 420 spot pairs 0.40% 0.60% No spread for Coinbase Advanced Bitfinex 160+ coins and over 420 trading pairs 0.10% 0.20% 0% for large orders Kraken Over 300 coins and 750+ pairs 0.16% 0.26% Reducing Exchanges experiment with different fee structures, which are also subject to change based on trading volume and region; checking the exchange’s official website for the latest fee structure before taking any crypto position is recommended. These comparisons really show that for those with the proper access, Binance is in many cases the superior crypto exchange option.
When we pull everything together and look at Binance objectively, the pros far outweigh the cons. This is more than can be said for some other competitors. Simply put, you don’t become the largest crypto exchange in the world (by a large margin) by offering subpar products and services. The exchange’s low fees, combined with the team’s proven knowledge of how to build a trading platform, is enough to make it a major player. What really sets Binance apart from other crypto exchanges, however, is the sheer size and scope of the platform. Binance’s crypto offering rivals any other exchange out there, and its daily trading volume is completely unmatched. Binance is one of the top options for serious crypto traders for good reason. All the factors delved into here explain why fresh cryptos are still vying for a chance to be featured as one of the best new Binance listings. Here, investors might ask: Is Binance.US safe? Binance US has not experienced any major security breaches so far. Just like Binance Global, it employs strong APIs for security and evolves compliance based on US regulations.
So, is Binance good? Binance platform is, without a doubt, a prime choice for many crypto traders. With a greater emphasis than ever before on regulatory compliance and efforts to increase its user base, Binance will probably continue to be a major contender in the crypto exchange sphere. While it is currently riding the wave of greater crypto acceptance, its status will likely allow it to navigate any potential future regulatory headwinds and hostility. It will be interesting to see how the organization plans to develop its impressive growth at a steady pace, as it has done so far.
See Also: References: Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.
Conclusion: Is Binance Safe to Use?
Frequently Asked Questions
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Is Binance Safe and is Binance.US Legit?
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