Binance is the world’s largest and most used crypto exchange with almost 270 million users.
Based on our Binance review, the platform offers products and services suitable for:
- Casual investors
- Advanced traders
- Institutional and private clients
- Yield seekers
This review of the Binance crypto exchange offers a comprehensive guide to its main features, products, trading types, programs, rewards, and security, along with necessary steps to create a Binance account, withdraw digital assets or fiat, pros and cons of the exchange, and an FAQ section.
What is Binance?
Binance is a centralized crypto exchange founded in 2017 by Changpeng Zhao (CZ). Its current CEO is Richard Teng, who took CZ’s place in November 2023.
The crypto exchange offers over 400 cryptocurrencies for its global users.
The global Binance exchange has almost 270 million registered users and is available in over 100 countries.
Trading Volume and Total Assets
The average 24-hour trading volume has exceeded $20 billion over the past six months, marking the highest trading volume among all the exchanges we’ve reviewed.
Binance recorded a 30-day trading volume of nearly $465 billion and holds approximately $130 billion in total assets.
Binance Products and Payments Overview
Binance includes multiple crypto products and payment options, rewards via various campaigns, while providing education and research opportunities for its registered users.
One of the most important products we’ll address in this Binance review is the Binance Wallet.
1. Binance Wallet
Binance Wallet, formerly known as the Binance Web3 Wallet, was relaunched in December 2024, and the new version of the crypto app’s wallet came back revamped with simplicity at its core.
Here are the core features that stand out in our Binance review of the wallet:
- Self-custody wallet – Funds in the wallet are exclusively held and managed by users who are in full control of their crypto.
- Powered by MPC – Advanced multi-party computation (MPC) technology that creates three separately stored key shares for flawless security without needing a seed phrase
- Built-in risk controls – Offering users alerts if a token or blockchain carries security risks, including wrong address protection or malicious contract detection
The new Binance Wallet offers users the following features:
- Management of all assets across multiple wallets and chains in a single place via the Unified Wallet feature
- Streamlined navigation via a new interface
- Exclusive airdrops in the Airdrop Zone
- Tracking rewards in the Reward Center
Binance Wallet allows users to:
- Trade and swap tokens
- Access multiple blockchains
- Explore dApps
Our Binance exchange review includes the platform’s multiple crypto buying and payment options.
2. Buy and Sell Crypto
Binance allows users to buy and sell crypto via Visa, Mastercard, Paymonade, and other options.
To buy crypto on Binance, users will have to follow these steps:
- Enter the amount and select payment
- Confirm the order’s transaction details, including trading pair quotes, fees, and others
- Receive crypto in Spot or Funding Wallet
3. Recurring Buy
Binance also offers the Recurring Buy option, allowing users to create a plan, select an asset, a specified amount, and choose the repeat buying time.
As part of this Binance review, it’s worth highlighting that Recurring Buy is ideal for those pursuing a DCA (dollar-cost averaging) strategy. This allows investors to invest fixed amounts at regular intervals to reduce the influence of volatility on their investment.
4. Deposit and Withdraw Fiat on Binance
Users can also deposit and withdraw fiat from Binance. Based on our Binance Review, the crypto exchange allows users who have completed advanced KYC to deposit fiat on the crypto exchange via third-party apps.
Users who have completed the advanced KYC, can also withdraw fiat via the same options for lower fees.
The crypto exchange’s users can send, receive, and spend crypto via the Binance Pay service.
5. Binance Pay
Our Binance platform review also covers the Binance Pay option, which allows users to:
- Become merchants
- Send cash
- Send and receive crypto
- Send multiple payouts
What Types of Payments Binance Pay Supports
According to our Binance review, the Binance Pay platform supports contactless QR code transactions and payment requests, adding convenience to both online and offline payments.
Besides the Binance Pay service, there are other trading options provided by the crypto exchange.
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Binance Trading Review
Compared to other crypto exchanges, this Binance review highlights that the platform offers basic and advanced trading services for its users.
Binance Basic Trading Services
Binance Spot
Binance Spot allows users to trade crypto, offering real-time prices with technical indicators, charts, info, trading data and analysis, and more.
Binance Margin
Binance Margin allows users to increase profits with leverage, offering the following:
- More than 600 trading pairs
- The best trading fees
- High liquidity
- Responsible trading
- Insurance fund
- Colling off period
- Reliable security
To get started with Binance Margin, the exchange offers users tutorial videos to learn more about margin trading on Binance.
Margin trading is a way of using funds provided by a third party to conduct asset transactions, allowing traders to get more funds and support them in using positions.
According to our Binance exchange review, trading steps for isolated and cross accounts include transfer, borrow, trade, and repay.
P2P
P2P allows users to buy and sell crypto using bank transfers and over 800 options.
To buy crypto via P2P, users have to place an order, pay with local currency, and receive crypto. P2P also allows users to sell crypto and get local currency from other users.
Convert and Block Trade
In our Binance exchange review, we found that users can convert their assets via Binance Convert, being able to choose instant or recurring conversions, while placing a limit as well.
The convert feature has zero fees and offers over 2,000 pairs.
Binance Advanced Trading Services
Our review of the Binance platform also covers the crypto exchange’s services designed for advanced traders.
Trading Bots
The crypto exchange’s users can benefit from various automated trading strategies via the Trading Bots service. All users have to do is set up a bot, run it, and end the bot.
When the price drops and hits the buy order, the bot will place a sell order, and when the price rises and hits the sell order, the bot will place a buy order.
The Trading Bots service also includes a Rebalancing Bot, Spot DCA, and Spot Algo Orders.
Copy Trading
The Copy Trading option includes Futures and Spot sections, together with information on how to copy trade. Copy trading allows users to follow others’ strategies, simplifying their trading experience.
Binance Futures
Binance Futures includes the following:
- Contracts settled in USDT and USDC
- Contracts settled in crypto
- USDT options with limited downside and affordable entry
For Binance Futures trading, users can sign up with the referral code 38128012.
While compiling this Binance platform review, we found that the exchange’s futures section provides futures, options, copy trading, data, an FAQ section, learn, trading rules, futures referrals, APIs, portfolio margin, and spot trading.
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Use our Binance Futures referral code 38128012 to get a fee discount.
Binance Earn Products
The Binance Earn section includes Simple/Advanced Earn and Loans.
Simple Earn
Simple Earn is the platform’s one-stop investment section, helping users earn passive income from Savings and Staking. It allows users to earn rewards by depositing digital assets into either flexible or locked periods.
With Binance Simple Earn, users can get rewards on more than 300 types of digital assets. Users can get rewards by depositing crypto for either Flexible or Locked periods of time.
Advanced Earn
Advanced Earn provides Dual Investment and On-Chain Yields.
Dual Investment is a high-yield structured financial product that allows users to buy low or sell high at a specific price and date in the future, while earning rewards, regardless of the market direction.
Binance Loans
Binance also offers three types of loans:
- Flexible Rate Loan – Allowing users to borrow for Spot/Margin/Futures
- VIP Loan – For institutional investors
- Fixed Rate Loan – Allowing users to borrow and supply with chosen fixed interest rates
Binance ETH and SOL Staking
In terms of earning crypto, the exchange also offers staking services, detailed below.
Binance ETH Staking allows users to earn a daily yield and use their staking by following these steps:
- Stake ETH and receive WBETH (Wrapped Beacon ETH) based on the daily conversion ratio.
- Earn daily rewards by holding WBETH or use WBETH for various use cases.
- Redeem EBETH for ETH.
Binance SOL Staking allows users to optimize staked SOL and unlock liquidity by following these steps:
- Stake SOL and get BNSOL as a tokenized representation of the staked SOL.
- Earn SOL staking rewards by holding BNSOL.
- Redeem BNSOL for SOL.
Launchpool/Launchpad
Binance Launchpool and Launchpad are platforms that allow users to launch projects on the platform, helping and advising project teams on how to best issue and launch tokens.
Launchpool has over 60 projects, and most of them offer users 4% of the projects’ supply, based on our Binance review.
Binance Square
In terms of education and research, the crypto platform allows users to earn free crypto through learning.
Binance Square allows users to discover the latest crypto news, while the Blog section offers valuable knowledge about the latest insights in Web3.
The Research section in Binance Square provides institutional-grade analysis with in-depth data, and more.
Binance Academy provides the following:
- Articles on popular subjects such as economics, crypto basics, and trading
- Glossaries
- Courses for beginners and intermediates
- Binance Square
- Learn and Earn, which allows users to earn crypto through learning about Web3
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More Binance Products and Program Offerings
Other important platforms included in our Binance exchange review include the following:
NFT
The Binance NFT platform is dedicated to NFTs from creators worldwide.
Binance Fan Token Platform
On this platform, fans can support the sports teams they love via Binance Fan Tokens, while also being able to influence teams’ decisions via Fan Voting Pools. Teams can launch their tokens via the Binance Launchpad and receive rewards by referring fans.
Binance Charity
The Binance Charity platform offers Web3 solutions for social change. Based on our Binance review, the crypto exchange has helped over 2 million people in more than 54 countries by committing over $23 million to fund 32 projects.
BNB Chain
The crypto exchange has a separate section for the BNB Chain, providing a portal for developers. various solutions for tokenization, MEV protection, AI agents, memecoins, and more.
Binance Campaigns and Rewards
Our Binance platform review also highlights the various programs that the exchange uses to reward users.
HODLer Airdrop
Binance HODLer Airdrop is available exclusively for BNB holders, and users who subscribe their BNB to Simple Earn can receive airdropped tokens.
Megadrop
Binance Megadrop is a new token launch platform that integrates Binance Simple Earn and the Binance Wallet, allowing users to discover projects, participate, and earn rewards.
Rewards Hub, Learn and Earn, Red Packet
Binance Rewards Hub allows users to join activities and earn attractive rewards. Users can shop for rewards and claim them with their points or using vouchers.
Binance also offers a Learn and Earn activity in which users can earn free crypto via:
- Learning about blockchain
- Completing quizzes
Binance Pay, earlier described in our Binance review, includes the Red Packet, which allows users to create and share crypto gifts in BNB, BTC, and ETH. Users can also enter Red Packet codes for claims. The Red Packet facilitates the distribution of crypto in a randomized manner.
Monthly Challenge, Web3 Airdrop, Word of the Day, Referral Code
The crypto exchange offers a Monthly Challenge with various campaigns in which users can earn crypto, rewards, or rebates.
Binance periodically presents Web3 Airdrops for eligible users who meet specific criteria, such as holding certain tokens or participating in specific activities. The platform announces Web3 Airdrops via its official channels, including social media, blog posts, and in-app notifications.
Binance offers users the chance to play Word of the Day and earn various rewards.
Apart from participating in the exchange’s monthly challenges and campaigns, airdrops, and WOTD for rewards, users can also benefit from boosted earnings and other financial benefits on the platform with the Binance referral code.
The referral program allows the crypto exchange’s users to get sign-up bonuses, cashbacks, and fee discounts, providing a great opportunity for fund allocation toward investments and enhancing potential trading returns.
We cannot finish this rewards section of our Binance review without mentioning that the crypto exchange distributed over $2,6 billion in rewards and airdrops to its users in 2024, surpassing other platforms.
Binance Review on Security and Transparency
Our review of the Binance platform would not be complete without highlighting the exchange’s security measures and its transparency regarding user funds.
Binance is making efforts to provide the best security for its users. This is why the crypto exchange uses the following security features:
- 2FA
- Biometrics
- Device management
- Whitelisting
Also, the onboarding of new users follows strict KYC rules to enhance the platform’s security.
As proof of Binance’s compliance with regulatory legislation, the crypto exchange managed to secure 21 global licenses, becoming a licensed broker-dealer institution.
User Funds and Transparency
Binance also secures user assets via SAFU – the Secure Asset Fund for Users, which was created in July 2018. BInance SAFU is valued at $1 billion.
The crypto exchange provides official Proof of Reserves (PoR) showing that user assets are fully backed at least 1:1. The verification mechanism used by Binance is zk-SNARKs, with a Merkle Tree data encryption structure.
zk-SNARKS are a Zero-Knowledge Succinct Non-interactive Arguments of Knowledge are non-interactive systems with short proofs enabling computation verification.
Binance App Review
Users can trade over 350 digital assets on Binance.
Our Binance app review is based on the crypto exchange’s product offerings, UX speed, design, notifications, and account controls.
The platform is more suitable for experienced traders, but at the same time, its UX is easy enough for newer traders to learn their way across the website.
The UX speed and design make the Binance app user-friendly for both newbies and experienced or professional traders.
Binance’s notifications provide valuable insights on the following:
- Important announcements related to the platform: new listings, latest Binance news, activities, delisting, maintenance, and more
- New information on the platform’s campaigns
- Assets and transaction records
- Marketing and transactional announcements regarding the platform’s fee offers and campaigns
- Account assistant providing important account-related notifications
After reviewing the Binance crypto exchange, we highlight that one of the best features of the platform is that it teaches users about various types of trading, while offering all the necessary comprehensive steps, providing educational value related to all products, services, and available campaigns.
Binance US Review
Binance US is trusted by millions of customers. The US branch of Binance offers fewer digital assets for trading compared to Binance Global, with over 160 cryptocurrencies available for US users.
In our Binance US review, we found that the exchange features mostly the same products and services as the Binance global platform, apart from futures trading and full Earn options.
After resuming operations in the US in March 2025, following a break from 2023, Binance US features the following:
- Deposit and Withdraw USD
- Buy and Sell Crypto with USD
- Convert Between Crypto and USD
- Trade USD Pairs
- Set Recurring Buys
Other features to explore on the Binance US platform include the following:
- Crypto Staking
- Converting Crypto Dust
- Claiming a Crypto Domain
- Placing OTC Trades
- Accessing Binance US Institutional Services
According to our Binance US platform review, the exchange is suitable for everyday investors and institutions as well, despite lacking some of the features offered by Binance Global.
How to Get Started on Binance
To start trading on Binance and enjoy the crypto exchange’s services and products, users have to follow these steps:
- Sign in with our referral link.
- Complete the KYC verification (simple or advanced).
- Deposit or buy crypto.
- Start trading.
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Binance Review: Pros and Cons
Based on our in-depth Binance exchange review, here are the pros and cons of the platform:
| Pros | Cons |
|---|---|
| Extensive Product Range – Offers Spot, Margin, Futures, Copy Trading, Staking, Loans, and more. | Complex for Beginners – The vast number of features can overwhelm new users. |
| Massive Asset Selection – Trade over 350 digital assets globally, and 160+ in the US. | Regulatory Scrutiny – Subject to legal issues and stricter regulations in various regions. |
| High Liquidity & Trading Volume – Tens of billions in daily volume ensure fast trades. | Limited Features on Binance US – US users don’t get access to full Earn or Futures features. |
| Advanced Wallet & Security – MPC tech, 2FA, SAFU fund, zk-SNARKs Proof of Reserves. | No Official Global Headquarters – Raises concerns about operational transparency for some users. |
| Multiple Earning Options – Simple Earn, Advanced Earn, Airdrops, Learn & Earn, Megadrop. | |
| User Education & Research – Binance Academy, Square, Blog, and tutorials support all levels. | |
| Low Fees & Recurring Buy – Competitive trading fees and DCA tools for long-term investors. | |
| Mobile-Friendly Experience – Fast, intuitive Binance app with good UX for all levels. |
FAQ
What is Binance?
Binance is the largest and most important crypto exchange in the world, with almost 270 million users.
Is Binance Available in the US?
Binance is available in the United States of America via its Binance US arm.
How to Withdraw Money From Binance?
You can withdraw money from Binance by selling crypto in your Spot account or directly into your bank account. Head over to your Binance wallet, and choose from the Withdraw Crypto or Withdraw Fiat options.
Is Binance Legit?
As highlighted in our Binance review, the crypto exchange has secured legitimate licenses in 21 countries so far.
How to Buy Binance Coin?
To buy Binance Coin (BNB), you have to head over to the Buy Crypto section in your Binance account, select the fiat you want to spend, and the desired amount of BNB.
The payment method varies according to your location and KYC account verification. You can pay for BNB with your bank Visa/Mastercard Card, with fiat money in your Spot account, with Revolut Pay, or third parties, including Paymonade, according to our Binance review.
How Do I Earn Rewards on Binance?
Binance provides various options via which users can earn rewards, including the Learn and Earn program, its Megadrop, HODLer Airdrops, and others, detailed in our Binance review.
How to Delete My Binance Account?
To delete your Binance account, you should head over to your user account, go to Settings, and choose Privacy. There, you will see the option to delete your Binance account.
After reading this detailed review of Binance and its core features, you should have a clearer idea of whether the platform meets your trading needs, compared to other digital asset exchanges in the industry.
