Binance is the world's largest cryptocurrency exchange by trading volume. In this comprehensive review, we'll cover everything you need to know about trading on Binance.
Pros and Cons
✓ Pros
- Lowest fees in industry
- Most coins and trading pairs
- Advanced trading features
✗ Cons
- Not fully available in US
- Can be complex for beginners
Overview
Binance was founded in 2017 by Changpeng Zhao and has grown to dominate global crypto trading. The platform offers 350 cryptocurrencies for trading with spot trading, futures, options, and staking.
Fees
Binance charges competitive fees with discounts for BNB holders. Maker fees start at 0.1% and taker fees at 0.1%. Fees can be reduced by holding BNB or increasing trading volume.
Security
Binance has never been hacked despite being a major target. The exchange uses cold storage, 2FA, and advanced security features.
Supported Cryptocurrencies
Binance supports over 350 cryptocurrencies including all major coins like Bitcoin, Ethereum, and Solana, as well as a wide selection of altcoins.
User Experience
The Binance platform offers both beginner-friendly and advanced trading interfaces. Mobile apps are available for both iOS and Android.
Customer Support
Binance provides 24/7 live chat and comprehensive help center.
Who Should Use Binance?
Binance is best suited for experienced traders seeking low fees and maximum selection.
Final Verdict
Binance remains the top choice for most traders outside the US due to its unmatched liquidity, low fees, and extensive feature set.