Binance is the world’s most widely used crypto exchange, launched in 2017 by Changpeng Zhao (CZ). It grew at breakneck speed—within about six months it was already the most visited crypto trading venue—and it’s still a market leader today. The platform targets a broad audience: complete beginners who just want to buy and hold, as well as advanced traders using spot, margin, futures, options, Earn products, and Launchpad/Launchpool. Binance’s ecosystem extends beyond the exchange itself to the BNB Chain, Trust Wallet, Binance Academy (a large free education hub), research, and a charity arm.
Security sits front and center. Accounts support two-factor authentication, device/ login controls and anti-phishing codes. Binance also operates SAFU (Secure Asset Fund for Users), an insurance-like reserve built from a portion of trading fees that has been used in the past to make users whole after incidents. On the usability side, the web app and mobile app are broadly similar—clean navigation, fast charts, dark/light modes, and quick access to core sections like Buy Crypto, Markets, Trade, Derivatives, Earn, Finance, and NFT. The site and app are available in dozens of languages and support a wide range of fiat channels depending on your country, plus a P2P desk for person-to-person swaps.
Getting started is straightforward: create an account by email or phone (or with a social login in the app), then complete identity verification (KYC). While you can technically browse without KYC, full functionality (deposits, purchases, trading, withdrawals) requires it. Once verified, you can deposit via bank card/transfer (where supported), use P2P to buy stablecoins, or transfer crypto from an external wallet. For trading, Binance offers a deep spot market, margin with adjustable leverage, and a large futures board with multiple interfaces (from beginner-friendly to pro). Order types cover the basics (market, limit, stop) and more advanced controls (trailing stop and OCO).
Fees remain competitive: spot trades start at 0.1% and can be reduced by paying fees in BNB. Futures and options have separate maker/taker schedules, and some top pairs periodically run zero-maker promotions. Network withdrawal fees vary by blockchain; P2P purchases typically avoid trading fees but depend on the offer you choose. On the investing side, Binance Earn aggregates flexible/locked savings, staking, liquidity farming, and structured “dual” products, each with different risks and yields. If you’d rather learn first, Binance Academy packages hundreds of articles and videos across topics like blockchain basics, trading, DeFi, and NFTs—and occasionally runs small “Learn & Earn” campaigns that reward quiz completion.
Strengths: huge liquidity and market coverage (hundreds of coins and well over a thousand pairs globally), low fees, a very complete toolset, multi-language support, and well-known security practices (cold storage, SAFU, PoR disclosures). Limitations: mandatory KYC everywhere, regional fiat rails can be limited or change with local rules, and the sheer number of features can overwhelm newcomers. U.S. residents are restricted to Binance.US, which offers fewer assets and products than the global platform.
Bottom line: Binance remains a top all-round choice in 2025 thanks to breadth, liquidity, and pricing. It’s powerful enough for active traders, yet approachable for first-timers who stick to spot and stablecoins. Just be prepared for identity verification, check which fiat options are available in your country, and take time to learn the tools you actually plan to use.
As of 2025, Binance remains the world’s leading crypto exchange. It offers a unique combination of low fees, deep liquidity, extensive features, and strong security. While restrictions in the U.S. and strict KYC requirements are drawbacks, for most traders and investors Binance continues to be an outstanding choice.
Launched in 2017 by Changpeng Zhao (CZ).
Globally: 600+ coins and 1,500+ trading pairs. Binance.US: around 150+ coins.
Base maker-taker fee is 0.1%; paying with BNB cuts fees by 25%.
Yes. In 2025, KYC is mandatory for all users worldwide.
Yes, through Binance.US, but with fewer features and tokens than the global platform.
Approximately 95% of assets are stored in cold wallets; Binance also uses SAFU, Proof of Reserves, and 2FA for account protection.
Yes, official apps are available for iOS and Android.
