Binance Review 2025

Binance launched in 2017, and although it’s not that old, right now, it’s best crypto exchange in the world according to CoinMarketCap, offering a wide array of services to over 208million registered users across 180+ countries.

Binance founder is "Changpeng Zhao (CZ)" and as of now, they offer Launchpad, Mining Pool, Loans, and BNB Chain. Article below reviews all features of Binance Exchange.

Binance Company Information + Regulation

Binance, founded in2017 by “Changpeng Zhao (CZ)”, has quickly risen to become a dominant force in the cryptocurrency industry. Although Binance faced regulatory issues in various jurisdictions but tries hard to be compatible with different juristications around the world. right now, they are registered in 18 regulations! Binance Licenses:

• Europe: Registered as a Digital Asset Service Provider (DASP) in France, Italy, Lithuania, Spain, Poland and Sweden;

• Commonwealth of Independent States: Licensed by the Astana International Financial Centre (AIFC) in Kazakhstan
• Middle East: Obtained licenses from the Abu Dhabi Global Market (ADGM) and the Central Bank of Bahrain and Dubai World Trade Center
• Asia-Pacific: Secured licenses in Australia, Indonesia, Japan, Thailand and New Zeland
• Americas: Registered in Mexico and El Salvador
• Africa: Obtained License from South Africa

Binance has shown a strong commitment to working closely with regulators worldwide and complying with legal obligations, including anti-money laundering (AML) and counter-terrorism financing (CTF) rules. Predecessor CEO “CZ” talks about it and said:

“it's really important to very actively engage with regulators cause crypto regulation, rather than unclarity is a better option.”

Binance Founder

Changpeng Zhao, widely known as CZ, is the Chinese-born Canadian entrepreneur who co-founded Binance, one of the world’s largest cryptocurrency exchanges. He served as CEO until November 2023, when he stepped down after pleading guilty to a U.S. money laundering charge, resulting in a four-month prison sentence completed in September 2024.

According to CZ Wikipedia by May 2025, Forbes ranked Zhao as the world’s 24th-richest individual and the second-richest Canadian, with a net worth of approximately $64.8 billion. Beyond Binance, CZ has remained active in the global blockchain ecosystem, taking on advisory roles with the Pakistan Ministry of Finance and the president of Kyrgyzstan to support the development of digital assets.

Binance CEO

Richard Teng is a Singaporean business executive currently serving as the Chief Executive Officer (CEO) of Binance, one of the world’s largest cryptocurrency exchanges. His career includes significant regulatory and leadership roles, having worked for the Monetary Authority of Singapore, served as Chief Regulatory Officer of the Singapore Exchange, and led as CEO of the Abu Dhabi Global Market.

According to Richard Teng Linkedin, he holds an accounting degree from Nanyang Technological University and a master’s degree in applied finance from the University of Western Australia.

Binance Exchange Summary of Specifications

Binance offers a diverse range of trading products and services; more than 400 coins are listed on Binance and they are tradable with 1:125 leverage! Moreover, exchange Binance Specifications:

Advantages and Disadvantages

Like any trading platform, Binance comes with its own set of pros and cons. Let's examine some of the key advantages and disadvantages of using Binance:

Binance User Levels

Binance uses a VIP-tiered account structure based on a user’s 30-day trading volume and BNB balance.

As users move up the VIP ladder, they unlock benefits such as:

• Lower maker/taker fees
• Higher API limits
• Improved withdrawal privileges

Additional perks like referral rewards andBNB fee reductions are available even at the base level, making the system rewarding for both casual and professional traders.

Trading Fees

Binance operates on a tiered maker/taker fee model. Regular users pay a flat fee of 0.1% for both maker and taker trades. Traders holding Binance Coin (BNB) can receive additional fee discountsby using BNB to pay trading fees.

Binance calculates fees based on user level

As trading volume and BNB balance increase, users unlock VIP levels that offer significantly lower fees, making Binance one of the most cost-effective platforms for high-volume traders.

Besides trading, there are other fees in Binance which are:

• Deposit Fees: Free for crypto deposits, fees may apply for fiat deposits
• Withdrawal Fees: Dynamic, based on the blockchain network status
• Margin Borrowing Fees: Varies by asset, typically around 0.02% per day

Which Assets and Tokens Are Available for Trading on Binance Exchange?

Binance offers 400+ cryptocurrencies from different categories that Users can trade across various market types, including spot, margin, futures, and options. Binance Supported Coins:

• Major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), Polkadot (DOT)
• Stablecoins: Tether (USDT), USD Coin (USDC), Binance USD (BUSD)
• DeFi tokens: Uniswap (UNI), Aave (AAVE), Chainlink (LINK)
• Meme coins: Dogecoin (DOGE), Shiba Inu (SHIB)
• NFT-related tokens: Axie Infinity (AXS), Decentraland (MANA)

Binance stands out with one of the broadest selections of cryptocurrencies in the industry. The platform supports trading in over 400 cryptocurrencies globally, making it a top choice for altcoin traders.

Additionally, users can access nearly1,000 trading pairs, allowing for diverse combinations between major coins, stablecoins, and fiat currencies.

Binance also regularly lists new tokens and assets, providing users with access to emerging projects and opportunities in the crypto space.

This vast offering ensures both beginners and seasoned investors can find a wide range of trading opportunities.

Binance Exchange Futures and Margin Trading Overview

Binance offers both margin and futures trading options for users looking to amplify their trading potential.

Here's a quick comparison:

Margin Trading

• Allows users to borrow funds to increase trading exposure
• Offers 3-10x leverage
• Trades occur in the spot market
• Suitable for short to medium-term positions

Futures Trading

• Involves trading contracts representing the future value of an asset
• Offers up to 125x leverage on some contracts
• Trades occur in the derivatives market
• Ideal for both short-term and long-term strategies

How to Open an Account and Verify Identity in Binance Exchange?

In order to trade in Binance and use its services, you must register and it can be done in 4 steps. Binance sign up:

#1 Accessing the Account Creation Page and Completing the Form

To start, click the “Open an Account” button at the bottom of the page or select “Sign up” on the Binance homepage.

In the registration form, enter your email, agree to the terms, and click “Next”. You can also sign up using your Google, Apple, or Telegram account.

#2 Verifying Your Email Address

After clicking “Next”, Binance will send a 6-digit verification code to your registered email. 

Copy the code, paste it into the verification field, and click “Next” to proceed.

#3 Setting a Password and Accessing the Dashboard

Create a strong, secure password following Binance’s security guidelines. Once confirmed, click “Next” and you will be taken directly to your Binance dashboard, completing the account creation process.

#4 Binance Verification

After registration, now you have to go through the Verification process to access everything in the exchange. Step-by-step guide to the Binance KYC procedure:

1. Log in to the exchange's client portal;
2. Navigate to the "Verification" section;
3. Select your country of residence;

3. Enter your personal information;
4. Upload photos of your government-issued id (passport, driver's license, or national id card);
5. Complete a liveness check by taking a video of yourself following the on-screen instructions.

Wait for Binance to review your verification application, which typically takes up to 48 hours.

How to Trade in Binance?

To buy/sell a cryptocurrency such as Bitcoin (BTC) on Binance Spot, follow these structured steps:

#1 Access the Spot Trading Section

1. Log into your Binance account;
2. From the top menu, go to Trade, then Spot;
   

   

3. This will open the Spot trading interface, where you can view market charts, order books, and trading pairs.

#2 Select a Trading Pair

1. In the search bar, enter the asset you want to buy;
2. Example: For buying BTC with USD Coin (USDC), select BTC/USDC;
   

   

3. Once selected, the order panel will display options for that pair.

#3 Choose Order Type and Parameters

1. Under the Spot tab, click Buy;
2. Select your preferred order type including Limit order, market order and stop-limit order;
3. Enter the price and amount you wish to purchase, or use the percentage slider below the amount field to allocate a portion of your Spot Wallet balance.

#4 Place and Confirm the Order

1. Click Buy BTC to submit the order;
   

   

2. For a limit order, the trade will only execute when the market reaches your specified price;
3. Example: If BTC is currently at 65,000 USDC and you want to buy at 63,000 USDC, place a limit order at 63,000 — it will be filled once the market price drops to that level.

Additional Notes:

• The default setting in the Spot interface is a limit order;
• Use a market order if quick execution is your priority;
• For detailed explanations, see Binance’s guides on Market Orders and Limit Orders.

Binance Dashboard

Binance dashboard is a combination of multiple sections, which with its own application:

Estimated Balance Panel

Located at the top of the dashboard, this section displays the total value of all assets in BTC along with the USD equivalent. It also shows the Today’s PnL, which reflects the user’s profit or loss for the day. This provides a quick snapshot of overall portfolio performance at a glance.

Assets Menu

In the left-hand menu, the Assets section gives users quick access to various wallets:

• Spot for regular spot trading
• Margin for leveraged trading (Cross and Isolated)
• Funding Wallet for payments and transfers
• Third-Party Wallet for connecting external wallets

Each wallet section includes Deposit, Withdraw, and Transfer buttons, allowing users to manage funds without leaving the page.

In Binance Assets section, all tradable assets are available to choose

Markets Section

The Markets panel lists the user’s current holdings, including:

• Cryptocurrency name and ticker symbol
• Available balance
• USD value of the asset
• 24-hour price change

A Trade button is available next to each asset, enabling instant access to its trading page.

Verification & Account Levels

Under Identification section, users can view their KYC (Know Your Customer) status and transaction limits:

• Verified: Fiat deposit & withdrawal limit of up to $50,000 per day
• Verified Plus: Fiat limit of up to $2 million per day
• Higher Limits: Requires enhanced due diligence for larger limits
  Upgrading verification levels typically requires additional documentation, such as proof of address.

Navigation Sidebar

The left-hand navigation bar offers quick access to essential sections:

• Orders: View open orders and trade history
• Rewards Hub: Check rewards and special offers
• Referral: Manage referral links and track commission earnings
• Security: Set up 2FA, manage devices, and update passwords
• API Management: Connect APIs for automated trading or third-party tools
• Sub Accounts: Create and manage multiple sub-accounts

Binance Exchange Applications and Platforms

Binance offers a range of applications and platforms to cater to different user preferences and needs. In In these applications, users are able to trade, deposit and withdraw, do Authentication and use Binance API.

Desktop App

The Binance desktop application is Available for Windows, MacOS, and Linux operating systems. It is Streamlined interface with real-time market updates and Access to all Binance trading products and services. Download Binance desktop app:

• Windows
• MacOS
• Linux

Mobile App

The Binance mobile app brings the power of the exchange to your smartphone, allowing you to trade on-the-go. It’s available for Android and iOS with full access to all Binance products. Download Binance mobile app:

• Binance Android
• Binance iOS

Authenticator app

The Binance Authenticator app is a crucial security tool that provides an extra layer of protection for your account. It Offers a secure alternative to Google Authenticator and you can download it for Android and iOS.

• Binance Authenticator Android
• Binance Authenticator iOS

Binance Trading Volume; Does it Have Enough Liquidity?

According to CoinGecko, over the past three months, Binance’s exchange trade volume has shown consistent activity, fluctuating between $10B and over $40B daily, with notable spikes in mid and late July. These figures indicate deep market liquidity, allowing traders to execute large orders with minimal price impact.

Such sustained high-volume performance suggests that Binance maintains a strong liquidity pool across its markets, ensuring competitive spreads and efficient trade execution for both retail and institutional participants.

Binance Services

In the table below,  you can see the availability of Binance services:

How Secure Is Binance Exchange?

Binance employs industry-standard security practices, including two-factor authentication (2FA), device and IP whitelisting, and wallet address whitelisting.

It also supports advanced access controls and offers a self-custody Binance Wallet with integrated risk monitoring. Here's a list of security measures taken by Binance:

• Cold storage: The majority of user funds are kept in offline "cold wallets" to minimize the risk of hacks;
• Two-factor authentication (2FA): Users can enable 2FA for an additional layer of security;
• Address whitelisting: This feature restricts withdrawals topre-approved addresses only;
• Anti-phishing code: Aunique code that helps users identify genuine Binance emails;
• Device management: Users can monitor and control which devices have access to their account;
• $1 billion insurance fund: Binance maintains a significant fund to cover potential losses in extreme cases.

While these features provide solid user-side protection, the exchange has faced past regulatory scrutiny and legal challenges, which continue to raise concerns about institutional security and compliance in some jurisdictions.

Note that no exchange is 100% secure. Binance has faced security breaches in the past, such as a 2019 hack where $40 million worth of Bitcoin was stolen. Users should always practice good security habits.

Binanca Security Rankings

Binance’s total asset holdings exceed $141.45B, with large reserves in Bitcoin ($54.44B) and Ethereum ($35.69B). The exchange records over $10.34B in 24-hour trading volume, backed by proof-of-reserves and third-party security verifications.

Withdrawal and Deposit Methods in Binance Exchange

Binance, one of the largest global cryptocurrency exchanges with over 250 million users, supports more than 400 cryptocurrencies and fiat payments in 20 currencies for account funding and payouts. Payment options cover crypto transfers, bank cards, fiat bank transfers, and e-wallet services, enabling a flexible funding process for traders worldwide. Binance deposit and withdrawal:

Cryptocurrency Transfers

Digital asset deposits remain the most common funding method on Binance. Supported assets include Tether (USDT), Circle USD (USDC), Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Worldcoin (WLD), and many others such as Solana (SOL), Cardano (ADA), Litecoin (LTC), and Polkadot (DOT).
Multiple blockchain networks are available for each asset, with minimum deposit and withdrawal thresholds varying by chain — for example, USDT on TRC20 can be deposited from 0.01 USDT and withdrawn from 10 USDT, while BTC withdrawals start from 0.0002 BTC on the Bitcoin network.

Fiat Currency Payments

Fiat funding is available through SEPA transfers for the Eurozone and additional payment rails for currencies including AED, TRY, UAH, VND, CHF, DKK, HUF, IDR, PLN, SAR, and others. This broad coverage allows traders across multiple regions to top up and withdraw directly in local currency.

Bank Card Transactions

Visa, MasterCard, and Revolut are supported for both deposits and withdrawals, typically processed within five minutes. A 2% transaction fee applies to both directions.

E-Wallet Options

Binance also integrates Google Pay, Apple Pay, and PayPal for instant transfers. These methods incur a 2% fee and offer an alternative for traders preferring mobile-based payments.

Fees and Processing Costs

Binance applies competitive transaction costs depending on the method and network. Examples include:

Processing times can vary depending on the method used and the Blockchain network congestion. Cryptocurrency transactions typically process faster than other methods.

How to Deposit in Binance Exchange?

On Binance, multiple funding and payout methods are available, each with its own steps and security considerations. Choosing the correct option and following the required process helps prevent transaction errors or loss of funds.

Below is an overview of the main deposit options — Binance P2P, crypto transfers, and bank deposits — along with the basic withdrawal flow.

Depositing via Binance P2P

Binance Peer-to-Peer (P2P) trading allows you to purchase cryptocurrency directly from other users using local payment methods.

1. Log into your Binance account, go to Deposit, and select P2P Trading;
2. Choose the cryptocurrency to purchase, the fiat currency for payment, and your preferred payment method;
3. Browse the list of sellers, reviewing exchange rates, order limits, and payment terms;
4. Select a seller and follow the on-screen instructions to complete payment through the agreed method;
5. Once the seller confirms payment receipt, the purchased cryptocurrency is released into yourBinance Wallet.

Depositing from a Bank Account

Bank transfers are a common method for funding accounts withfiat currency.

1. Access your Binance account, click Deposit, and select Bank Deposit;
2. Choose the fiat currency you want to send and select a supported bank transfer method (e.g., SEPA, SWIFT, local transfers);
3. Enter the deposit amount;
4. Transfer the funds from your bank account using the bank details provided by Binance. The account holder’s name must match the name on your Binance profile.

Depositing Cryptocurrency to Binance

If you already hold crypto in an external wallet or another exchange, you can transfer it to your Binance account.

1. Log into Binance, click Deposit, then choose Deposit Crypto;
2. Select the cryptocurrency you want to transfer;
3. Pick the correct network for the deposit — it must match the network used by the sending platform (e.g., ERC20, TRC20, BEP20);
4. Copy the deposit address generated by Binance;
5. In your external wallet or exchange, paste the Binance deposit address and confirm the transfer.

Note : Always double-check the network and address before sending, as using the wrong network can result in irreversible loss of funds.

How to Withdraw From Binance Exchange?

Binance offers two primary withdrawal options: transferring cryptocurrency to an external wallet and sending fiat currency to a bank account. Each method follows a specific process and includes security checks to ensure safe transactions.

Withdrawing Cryptocurrency from Binance

1. Log into your Binance account. Hover over the account icon in the top-right corner and select Assets;
2. Click Withdraw and choose the cryptocurrency you want to send (e.g., BTC, ETH, USDT);
3. Enter the receiving address for the withdrawal and select the correct network. Ensure the network matches the one supported by the receiving wallet or platform;
4. Specify the withdrawal amount;
5. Review all details carefully. Complete two-factor authentication (2FA) and other security prompts;
6. Binance will send a confirmation email — click the verification link to finalize the withdrawal.

Tip : Always confirm the network compatibility to avoid transaction failures or loss of funds.

Withdrawing Fiat Currency from Binance

1. Sign in to Binance, hover over the account icon, and choose Assets;
2. Click Withdraw and then select Withdraw Fiat;
3. Choose the fiat currency to withdraw (e.g., USD, EUR, TRY);
4. Select a withdrawal method based on availability in your region, such as SWIFT, SEPA, or local bank transfer;
5. Provide your bank account details and enter the withdrawal amount. Follow the on-screen prompts to complete required fields;
6. Review the transaction details, confirm them, and complete all security verification steps;
7. Processing times vary — instant for some methods, up to several business days for others.

Binance Exchange Trust Scores

Binance consistently ranks high in trust scores among cryptocurrency exchanges. According to Binance Coinmarketcap, a reputable crypto data aggregator, the exchange has achieved a perfect Trust Score of 10 out of 10.

• CoinMarketCap: 9.9/10
• CoinGecko: 10/10

• Reviews.io: 4.1/5 based on 371 reviews.
• Binance Trustpilot: 1.6 out of 5 from over 5590 reviews.

Binance Features

Let's explore the crypto-specific services Binance offers to its users.

Binance Exchange Bonus

Right now, there are 3 bonuses available for traders in Binance exchange; Table below is a comparison of Binance bonuses:

Binance Referral

Binance’s referral program lets you and your friends earn 100 USD in trading fee rebate vouchers each. The process is simple:

1. Share your referral link with friends;
2. Your friends sign up and purchase crypto worth over $50;
3. Both you and your referred friends receive a 100 USD trading fee rebate voucher.

This promotion provides a direct incentive for expanding Binance’s user base while rewarding active participants with tangible trading benefits.

Binance 20% Bonus APR

Binance has announced a limited-time promotion for Fixed Rate Loans USDT Supply participants, offering up to 20% bonus APR in USDT for a 7-day period. Running from July 29, 2025, to August 26, 2025 (UTC), the campaign rewards users who place and successfully match new USDT Supply orders or match existing ones under the “I Want to Supply” option.

With a total reward pool of 65,000 USDT, participants are ranked in three tiers based on their minimum Total Supply Volume during the promotion. To qualify, orders must be successfully matched within the promotion period, ensuring active lenders can secure an attractive short-term return alongside their regular earnings.

Binance 10% Bonus Tiered APR Rewards with USDC Flexible Products

Binance is running a limited-time promotion for USDC Simple Earn Flexible Products, offering an extra 10% Bonus Tiered APR on top of the regular Real-Time APR. The promotion runs from May 6, 2025, to May 14, 2025 (UTC) and is available on a first-come, first-served basis.

During the campaign, rewards are split into two components:

• Bonus Tiered APR: Paid daily to users’ Spot Accounts, starting the day after accrual begins (two days post-subscription).
• Real-Time APR: Accrues and is credited directly to users’ Earn Accounts every minute.

Subscribers can enjoy up to 10.5% APR for holdings up to 400 USDC, and 0.5% APR for amounts above this tier, with a minimum subscription of 0.1 USDC and a maximum cap of 300 million USDC per user.

Customer Services and Support in Binance Exchange

Binance offers a comprehensive customer support system to assist users with various issues:

• 24/7 live chat support: Available for quick resolution of common problems.
• Email support: For more complex issues requiring detailed explanations.
• Extensive FAQ section: Covers a wide range of topics from account management to trading.
• Binance Academy: Provides educational resources for users to learn about crypto and the platform.
• Social media channels: Regular updates and community support on platforms like X (Twitter) and reddit.

Binance Copy Trading

Binance offers a crypto copy trading software on its Futures platform, allowing less experienced traders to automatically copy the trades of more seasoned investors.

Besides that. It offers various investment options such as Auto Invest and High Yield. Binance investment services:

• Simple Earn (Staking)
• High Yield
• Auto-Invest
• Megadrop
• Launchpool
• Mining Pools
• Loan

Beside these, you can participate in Binance copy trading via the steps below:

#1 Accessing the Copy Trading Interface

From the main menu, open the “Trade” section and choose “Copy Trading” to reach the dedicated dashboard. This panel displays available trading leaders, portfolio details, and relevant performance data for evaluation.

#2 Choosing a Lead Trader

Within the mirror trading section of Binance copy trading, users can view their margin balance and, if desired, register as a lead trader via the “Apply Now” function by creating a public or private portfolio with a capital range between $500 and $750,000.
Trader profiles include metrics such as ROI, drawdown, win rate, and portfolio composition. Additional analytics include AUM, profit-sharing percentages (starting at 10%), and minimum copy amounts.

The “Compare” tool allows up to four traders to be assessed side-by-side using filters like 30-day ROI, 30-day PnL, Sharpe ratio, profit share rate, and copy minimums. A mock trading option is also available for risk-free strategy testing.

#3 Configuring Copy Settings

Two allocation modes are offered:

• Fixed Ratio: Trades scale proportionally to the lead trader’s positions based on allocated capital;
• Fixed Amount: Each position uses a defined investment per order.

Advanced settings allow users to mirror leverage or margin modes, apply take-profit/stop-loss percentages, and set maximum cost per order. Once confirmed, trades execute automatically, with real-time monitoring of total balance, wallet balance, PnL, and net profit. Preferences can be modified anytime, and copy trading can be stopped instantly through the dashboard.

Binance Earn

Binance offers robust staking services through its Binance Earn platform. Users can stake various proof-of-stake (PoS) cryptocurrencies with either flexible or locked terms.

Flexible staking allows for instant withdrawal with lower rewards, while locked staking offers higher yields over fixed periods. This service enables users to passively earn income while supporting network consensus and security.

Binance Earn is available for multiple assets

Binance Exchange Restricted Countries: Am I Eligible to Trade on Binance?

Binance maintains a "List of Prohibited Countries" and reserves the right to restrict or prohibit access from certain jurisdictions. This is because regulation problems or sanctions; however, Binance is not available in countries below.

• Asia: Malaysia, China, Japan, Iran, Yemen, India, Thailand, Bangladesh, Kazakhstan, Philippines, Vietnam, Syria, Singapore, North Korea
• America: USA, Canada, Cuba
• Europe: Italy, Netherlands, UK, Crimea, Russian-Controlled parts of Ukraine
• Africa: Nigeria

Binance operates and offers its services legally in Türkiye. You can read the Binance TR review on TradingFinder.

Binance vs Other Exchanges

Let's compare Binance's services with other popular crypto platforms:

TradingFinder Expert Suggestions

In order to be a complete package, Binance has launched its native currencies, BNB and BUSD in July 2017. Binance exchange has more than 7,000 employees and owns companies such as Trust Wallet.

Right now, over 244 million people are using Binance and its features such ascopy trading, trading bots, mining pools and Megadrop. On the other hand, it has drawbacks such as regulatory challenges in some regions.