Last Updated: October 20, 2026 Binance is the world’s largest cryptocurrency exchange, and it has been for most of the past eight years. It reported more than 323 million registered users in
Last Updated: October 20, 2026
Binance is the world’s largest cryptocurrency exchange, and it has been for most of the past eight years. It reported more than 323 million registered users in July 2026, and on October 20, 2026, CoinGecko recorded about $8.8 billion in 24-hour spot volume on Binance, more than any other centralized exchange, across 507 coins and 1,366 trading pairs.
But “biggest” doesn’t always mean “best for you.” Binance has faced serious regulatory scrutiny, a $4.3 billion US settlement and a leadership change after its founder pleaded guilty to an anti-money-laundering violation. Binance does not serve the US or Canada and is not available to new users in the UK or the European Economic Area. US residents can use the separate Binance.US platform, and since July 1, 2026, existing customers in the EEA can only withdraw funds and close positions. For how Binance compares with eight other exchanges, see our best crypto exchanges ranking.
So is Binance still worth using in 2026? This review covers everything: features, fees, security, regulation, supported assets, the mobile app, and how Binance compares with alternatives like Bybit, OKX, Mercado Bitcoin, Paybis and 1inch.
Disclaimer: This review is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency is a high-risk asset class.
Binance was founded in 2017 by Changpeng Zhao (CZ) and Yi He. It started as a pure crypto-to-crypto trading platform and within six months became the world’s largest exchange by volume. Over the years it has expanded into a full ecosystem: spot and derivatives trading, staking and savings, a native blockchain (BNB Chain), a self-custodial wallet, copy trading, a token launch platform, and Binance Academy, one of the most comprehensive crypto education resources online.
In the United States, a separate company, Binance.US, offers a more limited product set: spot trading only, with no futures or margin, and a smaller selection of coins.
Following CZ’s resignation and $50 million personal fine in late 2023 as part of the $4.3 billion DOJ settlement, Richard Teng took over as CEO, and in December 2025 co-founder Yi He became co-CEO alongside him. Under their leadership, the exchange has prioritized regulatory compliance, securing a global licence in Abu Dhabi and growing its user base to record highs, while losing access to new customers in the EU and the UK.
Binance’s spot market is its core offering and the deepest liquidity venue in crypto. With 1,366 trading pairs on CoinGecko and a base fee of 0.10% per side, among the lowest for a top-tier exchange, it offers tight spreads and consistent fill quality. Advanced charting via TradingView integration, a full suite of order types (market, limit, stop-limit, OCO, trailing stop), and a switchable Lite/Pro interface make it accessible to both newcomers and professional traders.
Binance offers one of the most comprehensive derivatives suites in the industry. Perpetual futures are available on hundreds of pairs, with up to 125x leverage on major contracts. Quarterly delivery futures, options and portfolio margin accounts for sophisticated risk management are available to eligible international users. Fees start at 0.02% maker and 0.05% taker for futures, lower than spot. Binance.US users have no access to derivatives.
Cross and isolated margin accounts allow traders to borrow assets and amplify positions, with up to 10x leverage depending on the account mode and asset. Binance charges daily interest on borrowed assets, and its risk engine includes liquidation alerts and position monitoring tools.
Binance’s passive income suite is one of the broadest in crypto. Simple Earn offers flexible and locked products for hundreds of assets, with rates displayed before you commit. Launchpool lets users lock BNB and other eligible tokens to farm new tokens before they list. Earn products are not available to EEA customers since July 1, 2026.
Binance’s copy trading feature lets users automatically mirror the trades of experienced traders, with full transparency into historical performance, drawdown and strategy type. It suits users who want market exposure without active trading.
Binance offers native trading bot strategies including Grid Trading, DCA (Dollar-Cost Averaging), Rebalancing and TWAP (Time-Weighted Average Price). These are available directly within the app with no coding required, and backtesting tools let users simulate strategies before deploying capital.
Binance’s peer-to-peer marketplace supports hundreds of local payment methods across dozens of fiat currencies. Takers pay no platform fee, and trades are protected by an escrow service, making P2P one of the most widely used on and off-ramp options for users in regions without direct fiat support.
Binance has wound down NFT trading on the exchange. In June 2026 it announced that NFT support on the exchange would end, gave users until July 3, 2026, to withdraw transferable NFTs, and moved NFT management to the self-custodial Binance Wallet. Users who still hold NFTs on the exchange should check the Binance Wallet for access.
Binance Wallet, the exchange’s self-custodial wallet, is built into the Binance app and connects to DeFi protocols, token swaps, bridges and dApps across major blockchains, and it is now where Binance users manage NFTs after the exchange ended NFT support on July 3, 2026. If you’re comparing wallet options beyond the exchange, see our crypto wallet reviews for custodial and self-custodial alternatives.
Binance Academy is a free, comprehensive crypto education hub covering topics from beginner blockchain concepts to advanced DeFi, trading strategies and security practices. It is one of the most widely used crypto educational resources available.
Binance’s base spot fee is 0.10% maker and 0.10% taker, one of the lowest flat rates among top-tier exchanges. For comparison, Coinbase Advanced charges 0.40% maker and 0.60% taker and Kraken Pro 0.40% and 0.80% at their base tiers.
Fee reduction options:
Note: futures fees are charged on the full notional position size, not your margin. Factor this into leverage calculations.
Options trading fees are charged as a percentage of each contract’s value and are listed on Binance’s fee schedule, along with exercise fees.
Binance’s Secure Asset Fund for Users (SAFU) is an emergency reserve of about 15,000 BTC, bought for $1 billion in a conversion completed in February 2026. Binance has said it will top the fund back up to $1 billion if its value falls below $800 million. The fund was originally built from 10% of trading fees from 2018 and has been used to compensate users affected by platform-side incidents, including direct compensation payouts for losses caused by platform downtime and degraded performance.
Binance has experienced significant security events. In 2019, hackers stole 7,000 BTC from a hot wallet, and Binance covered all losses through SAFU with no user haircut. In 2022, the BNB Chain bridge was exploited for about $570 million, a chain-level event contained without affecting exchange user funds. In 2023, the DOJ settlement put a multi-year compliance monitor in place to oversee Binance’s anti-money-laundering and sanctions programs, with tighter KYC requirements across all markets.
On February 3, 2026, Binance paused withdrawals for about 20 minutes because of what it called technical difficulties, then resumed them. We found no reports of a security breach at Binance in 2026.
Binance lists 507 coins and 1,366 trading pairs, according to CoinGecko, including:
Binance.US offers a smaller selection of coins and no derivatives.
Binance’s iOS and Android app is one of the most widely used crypto exchange apps worldwide. Key features:
Lite mode simplifies the interface significantly for new users, removing many of the options that Pro mode presents.
Deepest liquidity in crypto. Binance accounted for 38.7% of spot volume among the 10 largest centralized exchanges in the second quarter of 2026, according to CoinGecko, and consistently offers tighter spreads than competitors. Its liquidity dominance extends to stablecoins: at peak, over $47.5 billion in stablecoins were pooled on Binance, about 65% of centralized exchange stablecoin liquidity.
Lowest fees at scale. The 0.10% base fee, reducible to 0.075% with BNB, is lower than Coinbase Advanced (0.40% / 0.60%), Kraken Pro (0.40% / 0.80%) and Gemini. Active traders in the highest VIP tier pay maker fees as low as 0.011%.
Broadest ecosystem. Few exchanges match Binance’s combination of spot, derivatives, staking, copy trading, trading bots, P2P, a self-custodial wallet, token launches and education under one roof.
BNB token utility. Holding BNB reduces fees, BNB locked in Launchpool earns a share of new token rewards, and the token has its own supply reduction mechanism (Auto-Burn and BEP-95).
SAFU and Proof of Reserves. The Bitcoin-denominated SAFU reserve and monthly Merkle-tree and zk-SNARK reserve reports provide meaningful user protection and transparency.
Regulatory history and ongoing oversight. The $4.3 billion DOJ settlement, later fines in Canada, India and Australia, and continuing monitoring are material risks. Its regulatory status remains in flux in several jurisdictions.
Not available for US users at full capacity. Binance.US offers a significantly reduced product set. US-based traders wanting futures, margin or a wider asset selection must look elsewhere.
Shrinking access in Europe. Binance has not accepted new users in the EU since July 1, 2026, or in the UK since October 2023, so readers in Europe need an alternative such as a MiCA-licensed exchange.
Overwhelming for beginners. Even with Lite mode, Binance’s sheer breadth of features, products and settings can be intimidating. Platforms like Coinbase are significantly more beginner-friendly.
Customer support quality. User reviews consistently cite slow response times and unsatisfactory resolution for complex issues. Live chat exists, but wait times can be long during peak periods.
Fiat on-ramp limitations. Card purchases carry provider fees, and bank transfer options vary significantly by region and are not universally available.
BNB (Binance Coin) is the native token of the Binance exchange and BNB Chain. Understanding BNB’s role is important for any serious Binance user:
For active Binance users who trade frequently or take part in Launchpool events, using BNB to pay fees lowers trading costs. For the latest price, see our BNB price page.
For beginners: start with the Lite interface and explore Binance Academy before making your first trade, and start with small amounts until you’re comfortable with order types and fee structures. Residents of the US, Canada, the UK and the EEA cannot open a new Binance.com account.
Binance’s access to Western markets has narrowed in 2026, even as it has added licences in the Middle East.
The honest answer: safer than it was before 2023, but not risk-free.
On the positive side, the SAFU reserve of about 15,000 BTC is real and has been used, cold storage protects the majority of user assets, monthly proof of reserves offers genuine transparency, and the DOJ settlement forced real compliance improvements. The exchange itself has not reported a security breach since its 2019 hot-wallet hack.
On the risk side, the regulatory situation remains active in several jurisdictions. EU regulators are examining whether Binance still serves EU customers after its July 2026 wind-down, and shortly after the DOJ settlement, questions arose about whether Binance was financially solvent, concerns the exchange addressed publicly through its proof-of-reserves data.
Using the withdrawal allowlist, enabling hardware-key or passkey 2FA, and not keeping more capital on the exchange than you actively need are sensible precautions for any centralized exchange, including Binance. Binance has also handled large withdrawal waves: a $21.75 billion outflow event tested the exchange’s liquidity, and it processed withdrawals without restrictions, a meaningful trust signal for the platform.
For most active crypto traders outside the United States, Canada, the EU and the UK, yes: Binance remains the default choice, and for good reason. The combination of the deepest liquidity, the lowest fees at scale, the broadest product ecosystem and strong passive income options is unmatched by any single competitor.
For US-based users, Binance.US is functional but significantly limited, and Coinbase offers a more complete regulated US experience. In Europe, Binance is no longer an option for new users, so MiCA-licensed exchanges such as Bybit, OKX, Kraken and Coinbase are the practical alternatives.
For absolute beginners in countries where Binance is available, it is worth learning, but start in Lite mode and read Binance Academy before deploying any capital.
Overall rating: 8.5/10. Binance offers best-in-class liquidity and fees for experienced traders outside the US, the EU and the UK, but it is no longer available to new users in Europe. For how it compares with other platforms, see our best crypto exchanges ranking.
Related reading: OKX Review: Fees, Features, Security & Is It Safe?
This review is for informational purposes only and does not constitute financial advice. Exchange fees, products and availability can change; always check Binance’s current terms and your local rules before opening an account.
Is Binance available in the US? Binance.com does not serve US residents. Americans can use Binance.US, a separate company that offers spot trading only and is unavailable in 16 states and territories, including New York, Texas, Washington and Ohio. Binance.US cut its trading fees to 0% for makers and 0.02% for takers in April 2026, and users in Kansas and Wisconsin can trade crypto but cannot use US dollar services.
Is Binance available in the EU and the UK? Not for new users. Binance withdrew its MiCA licence application in Greece in June 2026 and, from July 1, 2026, stopped onboarding users in the European Economic Area, while existing customers can still withdraw funds and close positions. In the UK, Binance has not accepted new users since October 2023, although it plans to apply for authorisation under the UK’s new crypto regime.
Is Binance legit? Yes. Binance is the world’s largest crypto exchange by trading volume, with more than 323 million registered users, a 10/10 Trust Score on CoinGecko and monthly proof of reserves. It is licensed in Abu Dhabi and Dubai, among other places. Its record includes a $4.3 billion US settlement in 2023 and later fines, so it is legitimate but carries regulatory risk.
What are Binance’s trading fees? Binance charges 0.10% for makers and 0.10% for takers on standard spot trades. Paying fees in BNB cuts this by 25%, to 0.075%. Futures fees start at 0.02% for makers and 0.05% for takers. VIP tiers based on 30-day volume reduce fees further, with maker fees as low as 0.011% at the highest tier. Card purchases carry separate provider fees.
Has Binance ever been hacked? Yes. In 2019, hackers stole 7,000 BTC from a Binance hot wallet, and the exchange reimbursed affected users from its SAFU fund. In 2022, the BNB Chain bridge was exploited for about $570 million, but exchange user funds were not affected. Binance has not reported a breach of the exchange since 2019, although withdrawals were briefly paused for a technical issue in February 2026.
What is SAFU? SAFU stands for Secure Asset Fund for Users, an emergency reserve Binance created in 2018 from a share of trading fees. In February 2026, Binance finished converting the $1 billion fund into about 15,000 BTC and said it will top it back up if its value falls below $800 million. It covers losses caused by platform-side failures, not market moves or user errors.
Is Binance good for beginners? Binance offers a Lite mode that simplifies the interface considerably, and Binance Academy is one of the best free crypto education resources available. However, the full platform is feature-heavy and can overwhelm new users, and Coinbase offers a simpler first experience. Beginners in the US, Canada, the UK and the EEA cannot open a new Binance.com account.
What is BNB and should I hold it? BNB is Binance’s native token. It is used to pay trading fees at a 25% discount, to take part in Launchpool token farming and to pay for transactions on BNB Chain. Holding BNB can lower costs for active Binance users, but its price is volatile and closely tied to Binance’s business and regulatory position, so it carries the same risks as any crypto asset.
Does Binance have a mobile app? Yes. The Binance app is available on iOS and Android and offers spot, margin and futures trading for international users, a Lite mode for beginners, P2P trading, Earn products, copy trading, trading bots and the built-in Binance Wallet. It supports biometric login, 2FA and real-time notifications for prices, orders and security events.
Who runs Binance now? Binance is led by co-CEOs Richard Teng, who replaced founder Changpeng Zhao in November 2023, and co-founder Yi He, who was named co-CEO in December 2025. Zhao pleaded guilty to a US anti-money-laundering violation in 2023, served four months in prison and was pardoned by President Trump in October 2025. He has said he will not return to run the exchange.
Who owns Binance? Binance is a private company, and its founder Changpeng Zhao is widely reported to remain its largest shareholder, although he has described himself as a passive shareholder since stepping down as CEO. In March 2025, Abu Dhabi’s MGX made a $2 billion investment for a minority stake, the first institutional investment in Binance. Day-to-day leadership rests with co-CEOs Richard Teng and Yi He.
Where is Binance located? Binance has long avoided naming an official headquarters. Since December 2025, its global platform has been regulated in Abu Dhabi, where the Financial Services Regulatory Authority licensed its exchange, clearing and broker-dealer entities, and it also holds a licence from Dubai’s VARA. Binance.US is a separate company that operates in the United States.
