The short version
- Score: 3.1/5, ranked 12 of 16 exchanges we rate
- Strongest: Features (5.0/5)
- Weakest: Access (1.2/5)
- US users: not accepted
This review is generated from public evidence. Every point below links to the fee page, license, audit or report it came from, and the same rules score every exchange we cover. Evidence was last checked on Sep 30, 2026.
Blocklr score: 3.1/5
| Category | Score | Weight |
|---|---|---|
| Security and trust | 2.4/5 | 40% |
| Fees | 4.4/5 | 20% |
| Features | 5.0/5 | 15% |
| Access | 1.2/5 | 15% |
| Support | 3.3/5 | 10% |
How Binance earned its score
Security and trust: 2.4/5
| What we checked | Points | Why |
|---|---|---|
| Reserve assurance | 2 / 3 | Publishes its own proof of reserves, not attested by a third party. source |
| Incident record since 2019 | 1.5 / 4 | 2 incidents since 2019. |
| Regulatory record since 2019 | 0 / 4 | 5 fines, bans or pleas since 2019. |
| Licensing | 1.5 / 3 | Licensed outside the US and EU only: Abu Dhabi Global Market FSRA (Nest Exchange Limited, Nest Clearing and Custody Limited, Nest Trading Limited), Dubai VARA VASP licence (Binance FZE), Central Bank of Bahrain crypto-asset service provider licence. source |
| Account protection | 3 / 3 | Offers authenticator 2FA, passkeys or security keys, withdrawal allowlist. source |
Fees: 4.4/5
| What we checked | Points | Why |
|---|---|---|
| Spot taker fee (base tier) | 4 / 4 | 0.1% taker fee at the base tier. source |
| Spot maker fee (base tier) | 3 / 3 | 0.1% maker fee at the base tier. source |
| Free bank deposits | 0 / 1 | Bank deposits carry a fee. source |
Features: 5.0/5
| What we checked | Points | Why |
|---|---|---|
| Coins listed | 3 / 3 | About 600 coins listed. source |
| Products | 4 / 4 | Offers staking, futures, margin, trading API. source |
Access: 1.2/5
| What we checked | Points | Why |
|---|---|---|
| US availability | 0 / 3 | Not available to US residents. source |
| Mobile apps | 1 / 1 | iOS and Android apps. |
Support: 3.3/5
| What we checked | Points | Why |
|---|---|---|
| Support channels | 2 / 3 | Offers live chat, 24/7 coverage. source |
Track record since 2019
Incidents
- 2019 · Hack: May 7, 2019: hackers using stolen API keys and 2FA codes withdrew 7,000 BTC (about $40.7 million) from Binance's hot wallet. Deposits and withdrawals were suspended for about a week. Binance covered the loss from its SAFU fund. About $41 million taken; customers were made whole. source
- 2019 · Data breach: August 2019: identity-verification images of Binance users were leaked by an extortionist who demanded 300 BTC. Binance said the images overlapped with those processed by a third-party vendor used from December 2017 to February 2018 and offered affected users lifetime VIP membership. source
Regulators and courts
- 2025 · Lawsuit dismissed (SEC): May 29, 2025: the SEC dismissed with prejudice its June 2023 civil enforcement action against Binance entities and Changpeng Zhao. source
- 2024 · Fine or settlement (FINTRAC (Canada)): May 2024: administrative monetary penalty of CAD 6,002,000 (about $4.4 million) for failing to register as a foreign money services business and failing to report large virtual currency transactions. Regulator penalty, not a settlement; USD figure is an approximate conversion. Amount: $4 million. source
- 2024 · Fine or settlement (Financial Intelligence Unit (India)): Order dated June 19, 2024: penalty of INR 18,82,00,000 (INR 188.2 million, about $2.25 million) under Section 13 of India's Prevention of Money Laundering Act for breaches of reporting-entity obligations. Regulator penalty, not a settlement; USD figure is an approximate conversion. Amount: $2 million. source
- 2023 · Guilty plea (DOJ (with FinCEN, OFAC and CFTC)): November 21, 2023: Binance Holdings Limited pleaded guilty to Bank Secrecy Act, unlicensed money transmitting and sanctions violations and agreed to pay over $4 billion in coordinated resolutions with FinCEN, OFAC and the CFTC. Founder Changpeng Zhao also pleaded guilty and resigned as CEO. The amount is the combined total, about $4.3 billion, and includes the CFTC resolution. Amount: $4.3 billion. source
- 2022 · Fine or settlement (De Nederlandsche Bank): Announced July 18, 2022: fine of about EUR 3.3 million (about $3.4 million) for offering crypto services in the Netherlands without registration from May 2020 to at least December 2021. Regulator fine, not a settlement; USD figure is an approximate conversion. Amount: $3 million. source
- 2021 · Ban (UK FCA): June 26, 2021: the FCA said Binance Markets Limited is not permitted to undertake any regulated activity in the UK and imposed requirements on the firm. The firm cancelled its FCA permissions in May 2023. source
Who Binance fits
A good fit if
- You trade often: the base taker fee is 0.1%.
- You want a wide choice of coins (about 600 listed).
Think twice if
- You live in the US: Binance does not accept US residents.
- A clean regulatory record matters to you: Binance pleaded guilty in 2023.
- Custody risk matters to you: funds were taken from Binance in a 2019 hack.
Goes to the official site. Blocklr earns nothing from this link.
Frequently Asked Questions
Is Binance available in the US?
No. Binance does not accept US residents. The United States does not appear on Binance's list of countries and regions where the Binance App is supported (list updated August 18, 2026). This file covers binance.com, not Binance.US.
What are Binance's trading fees?
At the base tier, Binance charges 0.1% for maker orders and 0.1% for taker orders on spot trades. Fees fall as your monthly volume rises.
Has Binance been hacked?
Yes. We found 1 hack since 2019; the details and sources are in the track record above.
How is Binance's score calculated?
Binance scores 3.1/5. The score is calculated by fixed rules from public evidence, and the same rules apply to every exchange. No company can pay to change it.
About this review
Blocklr has no affiliate, advertising or sponsorship deal with Binance or any other platform, so nothing here was paid for. Scores come from the rules in our review methodology. A fact we could not confirm scores as the lowest tier, which can make a score lower than it deserves. If something is wrong or out of date, tell us and we will check the source and correct it.