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B
Binance
Largest exchange by volume · Lowest fees · 350+ coins
Founded 2017 · Global (multiple entities) · Binance.US for Americans
🚨 Update October 30, 2026 — Binance hacked for about $6.3 billion. On October 29 attackers, linked by analysts to North Korea, drained Binance hot wallets on ten blockchains: the largest crypto theft on record. Binance says it will cover all losses from SAFU and company funds and that user funds are safe; about $3 billion is frozen. Withdrawals are paused, with a phased restart planned within about 40 hours and a proof of reserves promised. We keep our score under review until the post-mortem and the reserves report are out.
What happened and what to do →
⚡ Quick Verdict
Binance is the world's largest crypto exchange by trading volume and offers some of the lowest fees (0.10% standard, 25% less when paid in BNB) and one of the widest coin selections (350+). For US users, note that Binance.US is a separate, more limited platform. International users get the full Binance experience — except in the EU, where Binance suspended most services on July 1, 2026 for lack of a MiCA licence. Best for experienced traders and altcoin hunters.
⚠️ Update, October 3, 2026 — Binance is not available to EU residents. Binance withdrew its MiCA licence application in Greece on June 24, 2026 and suspended most services for EU users from July 1, 2026: no new accounts, deposits or orders, while withdrawals still work. It says it is applying in France. EU readers: use
Kraken or
Bitvavo. The review below remains relevant for readers outside Europe.
Binance Overview
Binance was founded in 2017 and has grown into one of the world's leading cryptocurrency platforms. With 350+ supported cryptocurrencies and a user base of 180M+, it serves a diverse range of investors from beginners to professional traders.
Editor's Personal Experience
I was a Binance user from November 2021 until June 2026 — four and a half years of regular use without a security incident, login problem or issue with deposits, withdrawals or trades. I moved my holdings to Kraken in June 2026 for one reason only: Binance had no MiCA licence, and as an EU resident I wanted a licensed exchange. The platform has been consistently reliable even during high-volatility periods when exchanges often struggle with downtime.
The platform's core strengths are reflected in its tagline: Largest exchange by volume · Lowest fees · 350+ coins. In 2026, Binance continues to evolve its product offering while maintaining its core value proposition for its target users.
Fees & Costs
Binance's fee structure is competitive within its market segment. The headline maker fee of 0.1% positions it well against major competitors. As with all exchanges, the actual cost depends on your trading volume, payment method, and which interface you use.
Always check the current fee schedule on Binance's official website before trading, as fees can change. Volume-based tiers can significantly reduce fees for active traders — the top tiers are often accessible at lower volume thresholds than users expect.
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Fee tip: Use the professional/advanced trading interface if available — retail app interfaces often charge significantly higher spreads or flat fees than the exchange's published maker/taker rates.
Security & Regulation
World's #1 Crypto Exchange
World's largest exchange. 0.075% fees · 350+ coins · 180M+ users.
Spot & FuturesEU regulated
Security is arguably the most important factor when choosing a crypto exchange — and it's where Binance's track record speaks for itself.
My personal experience: I held funds on Binance from November 2021 to June 2026 and never experienced an unauthorized access attempt, account issue, or withdrawal problem. I use 2FA via Google Authenticator and the platform's anti-phishing code feature — both are easy to set up and work seamlessly.
Binance maintains industry-standard security practices including cold storage for the majority of customer funds, mandatory two-factor authentication, and regular security audits. The platform holds relevant regulatory licenses in its operating jurisdictions.
As with any centralized exchange, the core security principle applies: only keep on the exchange what you are actively trading. Long-term holdings should be moved to a hardware wallet for maximum security.
🔐
Security best practice: Enable 2FA using an authenticator app (not SMS), use a unique strong password, and whitelist withdrawal addresses. Consider moving significant long-term holdings to a hardware wallet.
Features & Products
Binance offers a comprehensive suite of products beyond basic spot trading. The platform has expanded significantly in 2026, adding or improving features across staking, yield products, and advanced trading tools. Its ecosystem reflects its core positioning: Largest exchange by volume · Lowest fees · 350+ coins.
The feature set is particularly well-suited to its target audience. Users looking for capabilities outside that core positioning may find competitor platforms better suited to specific needs.
Pros & Cons
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Pros
- Lowest fees of major exchanges (0.075% with BNB)
- 350+ coins — widest selection
- Highest global liquidity
- Comprehensive features: spot, futures, margin, staking, P2P
- BNB token reduces fees by 25%
- Binance Earn for yield generation
- Advanced charting and trading tools
Cons
- Regulatory issues in multiple countries
- Complex interface overwhelming for beginners
- Binance.US is limited vs global version
- Past regulatory fines and scrutiny
- Customer support can be slow
Who Is Binance For?
| User Type | Verdict | Reason |
|---|
| Active/advanced traders | Excellent | Lowest fees, highest liquidity, all order types |
| Altcoin hunters | Excellent | 350+ coins, earliest listings of new projects |
| US investors | Limited | Binance.US has fewer coins and higher fees |
| Beginners (non-US) | OK | Feature-rich but steep learning curve |
| DeFi/yield seekers | Great | Binance Earn, staking, launchpool rewards |
🏆 Final Verdict
Best for Active Traders & Altcoin Investors (Non-US)
Binance remains the dominant force in crypto trading for a reason: unmatched liquidity, some of the lowest fees among major exchanges, and one of the widest coin selections. For active traders and altcoin investors outside the EU, it's a strong choice; EU residents currently cannot use it. US investors face a more limited experience through Binance.US — those users may be better served by Kraken or Coinbase Advanced Trade. Binance's ongoing regulatory challenges are worth monitoring but have not affected its operational status in most jurisdictions.
Get Started with Binance →
Frequently Asked Questions
Is Binance safe in 2026?
Operationally, Binance has a solid record: the exchange itself was hacked once, in 2019 (7,000 BTC, covered by its SAFU insurance fund), and the separate 2022 BNB Chain bridge exploit did not touch exchange accounts. The bigger risk is regulatory — a record $4.3 billion US settlement in 2023, and the loss of EU access in July 2026 for lack of a MiCA licence. Outside the EU it remains a mainstream option; keep savings in your own wallet.
What's the difference between Binance and Binance.US?
Binance.US is a separate entity serving American users. It has fewer coins (~150 vs 350+), higher fees, and fewer features due to US regulatory requirements. Most features of global Binance (futures, some altcoins, P2P) are unavailable on Binance.US.
How do I reduce Binance fees?
Hold BNB (Binance Coin) and enable the 'use BNB to pay fees' option for a 25% discount (0.075% vs 0.1%). Higher trading volume tiers also unlock lower fees. VIP 1 (≥$1M monthly volume) gets 0.09% taker.
Does Binance work in the EU?
Not at the moment. Binance withdrew its MiCA licence application in Greece on June 24, 2026 and, since July 1, 2026, has suspended most services for EU residents — no new sign-ups, deposits or orders; existing users can still withdraw. It says it is seeking authorisation in France. Until it has a MiCA licence, EU readers should use Kraken or Bitvavo.
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Risk Disclaimer: Crypto investing involves significant risk, including possible loss of principal. This review is for informational purposes only and does not constitute financial advice.
