Binance Review 2025: Is It a Legit and Trustworthy Exchange?

Farming Airdrops on Binance Alpha: Low Risk, High Reward
How to participate in Hyperlane presale on Binance Wallet
What is Hyperlane: The Best Guide to Cross-Chain Connectivity
Is Binance Safe? Binance Exchange Security Measures Tested
What is XRP (Ripple)? The Complete Beginner’s Guide
What is Restaking in Crypto? The Beginner’s Guide
What Is Initia? A Comprehensive Guide to INIT Token
Binance Wallet Hosts Lorenzo Protocol (BANK) on PancakeSwap
Become Eligible on Monad with Fantasy.top
Is MetaMask Safe and Legit? Security Measures Analysis
6 Best Crypto Exchanges in Singapore For 2025
Phemex Review 2025: Is it a Safe & Legit Crypto Exchange?
Binance vs Binance US: What are the Key Differences?
What Is GameFi and How Does It Work?
What is Ondo Finance? Future of RWAs and DeFi
What is Gem Wallet: Best Multi-Chain Solution for DeFi Users
What are Utility NFTs? Best NFT Utility Examples
Rabby vs MetaMask: Which is a Better Crypto Wallet?
What Is DeSci? The Ultimate Guide to Decentralized Science
What Are Pudgy Penguins (PENGU)? The Ultimate Collector’s Guide
What is an NFT Drop? Your Simple Guide to Participation
What Is Trust Wallet? A 2025 Comprehensive Guide
What is DeFi (Decentralized finance) and How Does it Work?
What is DeFi NFT? The Ultimate Guide
Is May the beginning of a new growth cycle for Bitcoin?
Top 5 projects Could be Listed on Binance
Mantra (OM) Price Prediction: Last Chance for Profit Gainers?
How Market Makers Become Executioners: A Lesson from the Mantra Collapse
Hyperliquid Deep Dive: Understand HYPE and HLP Model
XRP Deep Dive: A Masssive Player in Today’s Crypto Market
Study: 88% of Businesses Reported Higher Revenue after Accepting Crypto Payment
Survey: Nearly 80% of FTX Creditors Will Reinvest in Crypto with Their Repayment
XDC Deep Dive
Survey: 1 in 7 Americans Has Bought TRUMP Memecoin
Robonomics (XRT) Deep Dive
2025 Crypto Ownership Report: 70% of American Adults Own Cryptocurrency
By Fatima Rodriguez
Key Takeaways
Binance is the largest global cryptocurrency exchange with 250M crypto users that support over 500 cryptocurrencies and 1300+ trading pairs.
Binance offers a diverse range of trading options, including spot trading, margin trading, and futures trading, alongside advanced features like Binance NFT, Binance Earn, and Binance Launchpad.
The trading platform has low trading fees with 0.1% maker/taker and offers a 25% discount for BNB holders.
The global Binance platform is available in 180 countries, but not in certain jurisdictions such as the United States, United Kingdom, Canada and the Netherlands.
On BINANCE’s Website
Binance, founded in 2017 by Changpeng Zhao, has been the largest global cryptocurrency exchange with 250M+ users and approximately $14B in daily trading volume. The platform offers a wide array of trading options and low fees, supporting 500+ cryptocurrencies and 30+ fiat currencies, but unfortunately faces some regulatory issues in some jurisdictions.
Pros
Cons
Binance Referral Code
-10% Trading Fees
Get 10% Lifetime Cashback on Every Trade
Code Valid: April 2025
Binance is a popular global cryptocurrency exchange, known for its extensive range of services and high trading volumes. Co-founded by Changpeng Zhao (CZ) and and Yi He in 2017, the platform allows you to trade, deposit, withdraw, stake and convert cryptocurrencies. Binance has a user base of over 250 million crypto traders from more than 180 countries, and an $76 billion daily trading volume, according to CoinMarketCap.
Binance, though initially founded in China, established its headquarters in Japan shortly thereafter. This relocation was due to regulatory restrictions on cryptocurrency businesses within China. It subsequently expanded its operations to Taiwan and then Malta, seeking jurisdictions with more favorable regulatory environments for cryptocurrency exchanges.

The platform supports trading in over 500 cryptocurrencies, including popular cryptocurrency assets like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). It supports more than 30 fiat currencies, including USD, EUR, AUD, allowing users to easily deposit and trade via debit or credit cards, bank transfers, and P2P payments. It is also known for its user-centric approach, with a strong emphasis on security and regulatory compliance.
Spot fees on Binance apply to transactions involving buying or selling cryptocurrencies at current market prices. These fees vary based on the user’s VIP level, which is determined by their 30-day trading volume and Binance Coin (BNB) balance.
The base fee for spot trading starts at 0.10% for both makers (those who provide liquidity) and takers (those who take liquidity). Using BNB to pay for low fees, typically around 25% discount. Higher VIP levels enjoy progressively low fees.
Here’s a breakdown of the spot fees by VIP level:

The fees for futures trading are generally lower than spot trading fees and are also tiered based on the user’s VIP level. The base fee for futures trading starts at 0.02% for makers and 0.05% for takers. Similar to spot trading, higher VIP levels enjoy lower fees.

The Binance fees for options trading are typically a flat rate per contract. Currently, Binance charges a flat fee of 0.02% of the notional value of the contract, which is competitive compared to other centralized exchanges.
There is no transaction fees for crypto deposits on Binance, but withdrawal fees vary based on the cryptocurrency and its netork. Binance adjusts these fees according to network congestion and transaction costs.
For example, Bitcoin (BTC) withdrawals typically have a fee of 0.00012 BTC, while Ethereum (ETH) withdrawals have a fee of 0.0016 ETH.
Here’s how withdrawal fees vary for some popular cryptocurrencies:
Check out the full Binance fees structure.
Binance Referral Code
-10% Trading Fees
Get 10% Lifetime Cashback on Every Trade
Code Valid: April 2025
Binance is currently one of the most secure crypto trading platforms. Although it has experienced some data breaches and hack attacks, the exchange continues improving its security measures and regulatory compliance. Binance uses SSL encryption for all transactions, cold wallet storage, and even has a $1 billion insurance fund to keep your assets safe.
Here’s a breakdown of the main security features Binance employs to ensure a secure trading environment:
Binance Futures allows you to speculate on the future price of cryptocurrencies without owning the underlying assets. It offers two types of contracts: USD-M (USDT or USDC margined) and COIN-M (crypto margined).
USD-M contracts are settled in stablecoins like USDT or USDC, providing a stable value basis, while COIN-M contracts are settled in the cryptocurrency itself, like Bitcoin or Ethereum, adding an additional layer of risk and potential reward due to the volatility of the settlement asset.
Binance supports perpetual and quarterly futures contracts. Perpetual contracts do not have an expiration date, allowing you to hold positions indefinitely, while quarterly contracts have fixed expiration dates, such as every three months. This provides opportunities to capitalize on longer-term trends or events.
Here are some key insights to consider about Binance futures:

Also, Binance offers options trading. This allows you to speculate on the future price movements of cryptocurrencies without directly owning them. By using options contracts, you can bet on whether the price will go up (call option) or down (put option) within a certain timeframe. It offers European-style options contracts, which can only be exercised at expiry.
Binance has a Margin Trading feature that allows you to borrow funds to increase your trading position, offering leverage of up to 10x. It provides both cross-margin and isolated-margin trading.
Here are some key points to consider:
Binance Copy Trading lets you copy the strategies of experienced traders, called Lead Traders, in both Spot and Futures markets.
It offers detailed profiles of each Lead Trader including their performance, PnL, strategies, risk tolerance, and trading history. This transparency helps you choose a Lead Trader that aligns with your investment goals and risk appetite.
When you copy a trader, a share of your profits, up to 10%, is paid to them, creating an incentive alignment between you and the Lead Trader. This feature simplifies trading for new users and offers a potential passive income stream for experienced traders.

Binance offers several crypto trading bots to automate trading strategies, including Grid, Arbitrage, Rebalancing, and TWAP bots. Here is a quick overview of Binance bots:

Binance Earn provides a suite of financial products designed to generate passive income on your cryptocurrency holdings. Here’s a breakdown of the products:

Binance P2P Trading allows you to buy and sell cryptocurrencies directly with other users, facilitated by an escrow service. It also has zero fees on P2P trades.
The escrow service ensures that transactions are secure and fair by holding the seller’s crypto until the buyer confirms the payment. This process reduces the risk of fraud, making Peer-to-peer trading a safe and reliable option for acquiring or liquidating crypto assets.
Additionally, Binance P2P supports over 100 fiat currencies and 800+ local payment methods, including bank transfers and online wallets like Google Pay, UPI, Banxa, etc., providing flexibility and convenience for traders worldwide.
Binance Launchpad is designed to help promising blockchain projects raise capital and gain traction. It acts as a launchpad for new cryptocurrencies and tokens by providing them with access to Binance’s large user base and resources.
Here’s how it works:
There have been 93 projects launched on Binance Launchpad so far. This platform has become a popular way for new crypto projects to gain exposure and liquidity, while also offering users the opportunity to invest in promising early-stage ventures.
Binance Referral Code
-10% Trading Fees
Get 10% Lifetime Cashback on Every Trade
Code Valid: April 2025
Binance Leveraged Tokens (BLVTs) are an interesting experiment that offers leveraged exposure to cryptocurrencies without directly using margin trading. Unlike margin trading where you borrow funds to amplify gains (and losses), BLVTs are a type of derivative product that aims to deliver magnified returns based on the underlying asset’s price movement.
BLVTs came in two flavors: BULL (UP) and BEAR (DOWN). Bull BLVTs aimed to amplify gains when the underlying crypto’s price increased, while Bear BLVTs aimed to profit from price decreases. The leverage ratio isn’t fixed but targeted in a range, say between 1.25x and 4x.
Imagine there’s a BLVT named BTCUP that targets 3x leverage on Bitcoin’s price. If the price of Bitcoin goes up by 5%, BTCUP would ideally aim to deliver a 15% increase (3 times the underlying movement). Conversely, a BLVT named BTCDOWN targeting 3x leverage would aim for a 15% gain if Bitcoin’s price dropped by 5%.

Binance BNB Chain is a powerful blockchain, combining two previously separate chains: Binance Chain and Binance Smart Chain (BSC). This fusion creates a robust ecosystem specifically designed to fuel decentralized applications (DApps) and smart contracts.
The true strength of BNB Chain lies in its ability to attract developers and users. Here’s why:
Binance NFT Marketplace has become a popular destination for trading non-fungible tokens (NFTs). Unlike traditional marketplaces limited to a single blockchain, it allows you to buy, sell, and trade NFTs across multiple chains, including the popular BNB Chain and Ethereum.
The platform provides user-friendly tools for creators to mint and sell their NFTs, with transparent minting fees. This accessibility encourages a wide range of artists and creators to participate in the growing NFT ecosystem, expanding the variety and volume of NFTs available for collectors and traders.

Binance Pay cuts out the middleman for cryptocurrency transactions. Imagine a system for sending, receiving, and even spending cryptocurrencies, that works anywhere in the world and doesn’t charge any fees. That’s the core functionality of Binance Pay.
Beyond the basics, Binance Pay boasts a wide range of features. You can choose from over 200 different cryptocurrencies, including major players like Bitcoin and Ethereum, to carry out transactions. This flexibility caters to users with diverse crypto holdings. Transactions themself are borderless, meaning you can send and receive crypto from anyone around the globe without restrictions.
The benefits extend to businesses as well. By integrating Binance Pay, merchants can open their doors to a whole new customer base: crypto users. This not only expands their payment method but also attracts a tech-savvy demographic.
The Binance Web3 Wallet is a simple and secure tool within its app. It helps you enter the decentralized web, also known as Web3, without the usual hassles of crypto wallets.
You don’t need to worry about keeping a seed phrase. Instead, it uses an MPC technology that splits your private key into three parts stored in different places, like your device and cloud storage. This keeps your assets safer by reducing the risk of losing them.
The crypto wallet is designed to give you full control over your assets. It’s a self-custody wallet, meaning only you have access to it. If you lose access, Binance can’t help you recover it, so it’s important to back up your wallet and keep your recovery details safe.
Binance offers 500+ different coins including coins from various niches such as AI, metaverse, real-world assets (RWAs), gaming, DeFi. Some major cryptocurrencies that the exchange supports are:
The exchange also supports over 1,300 trading pairs in Spot Trading, Perpetuals and Futures markets, which includes BTC/USDT, BTC/FDUSD, ETH/USDT, USDC/USDT, XRP/USDT, and more.
Binance is available to crypto traders in 180 countries including Australia, UAE, China, New Zealand, India, South Africa, Brazil and most European countries. The global exchange currently holds regulatory licenses to fully function in 21 countries, and has adapted its services to local laws in Vietnam, Nigeria, Singapore, and more.
Due to lawsuits and regulatory challenges in some regions, Binance exchange is restricted in several countries, including the United States, the United Kingdom, Canada, Singapore, Japan, Netherlands, and Nigeria. However, residents in the United States can still use Binance.US, which is specifically designed to comply with U.S. laws and regulations.
To address user inquiries and concerns, Binance offers various customer support channels including a 24/7 Live Chat, Support Ticket System for more complex issues, FAQ Center, and Social Media platforms like Twitter and Telegram.
While Binance offers multiple avenues for customer support, user experiences seem to vary. The live chat function appears to be the most popular choice, but wait times and the effectiveness of communication can be inconsistent. The Binance mobile app receives a 4.6/5 rating on Google Play Store and the same 4.6/5 on the App Store.
Binance platform offers a variety of trading options and assets. The most basic option is “Convert”, where users simply choose their cryptocurrencies and execute the trade without charts, order books, or fees.
For more experienced users, Binance offers the “Classic” trading platform. The trading interface might seem complex at first, but it displays charts, order books (showing buy and sell orders), and your trade history. Don’t worry, Binance also offers tutorials and guides to help you navigate it.
You can place different order types to control how your trade gets executed. A “market order” buys or sells at the current market price, while a “limit order” allows you to specify the price you’re willing to buy or sell at. It also has a mobile version for both Android and iOS devices. The Binance app provides a user-friendly trading interface with real-time charting and various order types for trading.
Bybit and Coinbase are the best Binance alternatives to consider. Here is a quick comparison:
For more details, read our in-depth Binance vs. Bybit and Binance vs. Coinbase review to choose the right exchange that suits your trading needs.
Binance Referral Code
-10% Trading Fees
Get 10% Lifetime Cashback on Every Trade
Code Valid: April 2025
To create a Binance account, first visit the official Binance website. On the homepage, you will find a “Sign Up” button in the top right corner. Click on this button to start the registration process.
Provide your email address and click “Next”. Now, create a strong password. Make sure your password is unique and secure. You can also enter our Binance referral code “QH6V74V5” to get a signup bonus and fee discount. After entering these details, click on the “Create Account” button.
Binance will send a verification email to the email address you provided. Open this email and click on the verification link to confirm your email address.

Then, begin Know Your Customer (KYC) verification by clicking the “Profile” icon in the top right corner of the account page. Select “Account” from the dropdown menu and click “Identification”. Start by providing your personal details like name, date of birth, and address. You will need to upload a clear photo of a government-issued ID (passport, driver’s license, or ID card).
There is also Advanced verification, which may require additional documents like income proof. This is optional, but recommended if you plan on trading large volumes.

If you already own cryptocurrency, depositing it directly into your Binance wallet is an option. Go to the “Deposit” button. Choose “Deposit Crypto” to see a list of supported cryptocurrencies. Find the one you want to deposit.
Binance will provide a unique deposit address specific to that cryptocurrency. Copy this address and use it as the recipient address when transferring funds from your external wallet. Double-check both the address and the network you select to avoid losing your funds.

For those who prefer fiat currency like dollar deposits, Binance offers several deposit options like bank transfers and credit/debit cards. Go to the “Deposit” button and this time choose “Bank Deposit”. You’ll see various deposit methods, including bank transfer (SWIFT or SEPA) and credit/debit cards.
Select your preferred method and follow the on-screen instructions. Bank transfers require your bank details and initiating a transfer from your bank account. This can take a few days depending on your bank. Credit/debit card deposits involve entering your card details and completing the transaction, usually instant but with potentially higher fees.

Binance’s services encompass various cryptocurrency investing and trading opportunities. Navigate to the “Trade” dropdown menu at the top. For a beginner-friendly experience, choose “Spot”. On the left side, you’ll find the crypto pairs listed. To trade crypto Bitcoin (BTC) for Ethereum (ETH), for instance, locate the BTC/ETH trading pair.
The center of the page displays the price chart alongside the order book, which shows buy and sell orders from other users. Below this is the order entry section. When placing a trade, you can choose between Market, Limit, and Stop-Limit orders.
Enter the desired trade amount and price (if using Limit or Stop-Limit). Double-check your order details before clicking “Buy” or “Sell” to confirm the trade.

Our review highlights that Binance has become a leading cryptocurrency exchange in the world. It offers a variety of services beyond just trading, including copy trading, margin, and futures contracts. Features like Binance NFT, Charity, and Academy cater to a broad audience.
Binance plarform is also known for its high trading volume, competitive fees, and user-friendly platform. For both beginners and experienced traders, it offers opportunities to earn passive income or engage in advanced strategies. Whether you’re interested in trading, staking, or NFTs, Binance supports a comprehensive platform for cryptocurrency enthusiasts around the world.
Binance Referral Code
-10% Trading Fees
Get 10% Lifetime Cashback on Every Trade
Code Valid: April 2025
Binance is a trusted cryptocurrency exchange with over 250 million registered users over 180 countries. The platform has proved its long-lasting reputation through strong security measures such as two-factor authentication, data encryption and cold storage to protect user funds.
The withdrawal limit on Binance varies depending on the user’s level of verification. With basic verification, you can withdraw up to 8 million USD per day with a 50,000 USD fiat limit. Advanced verification offers even higher limits, depending on the region and regulatory compliance.
You can make money with Binance by trading cryptocurrencies, staking, and using Binance Earn for interest. It also offers futures and options trading for advanced users. Binance referral programs provide additional earning opportunities.
Binance offers low trading fees and more cryptocurrencies, suitable for experienced traders. It is more user-friendly, making it ideal for new users. On the other hand, Coinbase has stricter regulatory compliance, especially in the US.
Binance has a separate platform for US users called Binance.US. This platform complies with US regulations and offers a limited selection of cryptocurrencies for trading. But the main Binance platform is not available to US residents due to regulatory restrictions. Binance.US has fewer features compared to the main platform but still offers a good variety of trading.
Fatima Rodriguez
Fatima Rodriguez is a freelance writer that has been in financial journalism for over 5 years. With a keen interest in the evolving digital finance landscape, Fatima has a strong understanding of the crypto ecosystem and the crucial role that exchanges and wallets play in it. In her free time, Fatima enjoys meeting people, attending fintech webinars and conferences, and staying updated on the latest industry trends.
Disclaimer
NFTevening is an award-nominated media outlet that covers NFTs and the cryptocurrency industry. Opinions expressed on NFTevening are not investment advice. Before making any high-risk investments in cryptocurrency or digital assets, investors should conduct thorough research. Please be aware that any transfers and transactions are done at your own risk, and any losses incurred are entirely your responsibility. NFTevening does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, please note that NFTevening participates in affiliate marketing.
Cryptocurrency
Analysis
Learn
Crypto Basics
Cryptocurrency
Exchanges
News
News
News
Data
Guides
Exchanges
Please be aware that our Privacy Policy, Terms of Use, and Disclaimers & Ethics notice have been updated.
NFTevening is a renowned and award-nominated media platform dedicated to reporting on the cryptocurrency industry. Its journalists adhere to a rigorous set of editorial standards, guided by principles designed to uphold integrity, ensure editorial independence, and maintain unbiased reporting across all its publications.
The latest news, articles, and resources, sent to your inbox weekly.