The crypto landscape is ever-changing and evolving, with new trading platforms coming online weekly.
However, one platform has remained at its center for almost a decade: Binance.
It’s the world’s largest crypto exchange, handling nearly 35% of the centralized exchange DTV (daily transaction volume) at the time of writing this article. It has shaped how millions of people interact with digital assets.
But is it the right platform for you in 2025? This comprehensive Binance review will help you decide.
In it, we’ll examine everything you need to know, from its basic features to advanced trading capabilities, as well as security measures and recent news and developments that affect you as a user.
For those interested in starting with Binance immediately, you can enjoy substantial rewards such as an immediate 20% discount in trading fees, when you use our referral code WU16G8DX. This referral code must be used at the time of account creation, and for full details on how this program works, you can explore our comprehensive Binance referral code guide.
What is Binance? The Evolution of a Crypto Giant
Binance was initially launched in 2017 and quickly rose to prominence as an exchange by offering an extensive selection of tradeable cryptocurrencies, coupled with competitive trading fees and various incentive programs like giveaways and competitions with lucrative prizes. For those users wondering, “is Binance legit?”, you should know that today, it’s evolved beyond a simple crypto trading platform.
Binance is now an entire ecosystem for digital assets, trusted by over 250 million users globally.
The platform now processes an average daily volume of over $25 billion by offering one of the most comprehensive trading selections in the industry, supporting over 500 cryptocurrencies with 1300+ trading pairs.
By expanding into numerous complementary services like staking and NFTs, Binance has created an integrated ecosystem where users can manage virtually all aspects of their crypto portfolio in a single, secure place.
Getting Started with Binance
Setting up a Binance account is a straightforward process, but it requires attention to specific details to ensure you’re maximizing your benefits. Our Binance app review found the mobile experience to be as equally accessible and user-friendly as the desktop version.
Account Creation and Verification
The registration process involves a few simple steps:
- To start, visit the official Binance website or download the mobile app.
- Register with your email or phone number.
- Create a strong password and immediately enable two-factor authentication (2FA)
- When registering, use our referral code to receive a 20% discount on trading fees and qualify for additional rewards.
- Complete the industry-standard Know Your Customer (KYC) verification process by providing a valid government ID, current proof of address, and complete facial verification.
Binance takes user security and fund integrity extremely seriously, so the verification process can take several days. Your patience will be worth the wait given all the features Binance has waiting for you.
Trading on Binance: Options and Opportunities
Offering a vast array of diverse trading options for both the new trader and experienced crypto veteran, Binance also offers some of the most competitive trading fees on the market. This section of our Binance exchange review highlights some of these options provided to you as a Binance referred user.
Trading Types and Markets
Spot Trading: The classic way of directly trading crypto is made all the better on Binance, with over 500 cryptocurrencies available across more than 1,300 trading pairs. The platform interface gives you a wide range of options for executing coordinated trades precisely with things like OCO (one-cancels-the-other) orders in addition to standard market, limit, and stop-limit orders.
Futures Trading: If you want to utilize leverage to maximize your profits, Binance provides futures contracts with up to 125x leverage. To further pad your bottom line, use our referral code 38128012 upon sign-up for an additional 10% reduction on futures trading fees.
Margin Trading: Another way to gain leverage is by borrowing funds to increase your position size. The platform offers up to 10x leverage on over 600 trading pairs on margin trading but is only recommended for experienced traders familiar with the potential downside risk.
P2P Trading: Binance also provides a way to send crypto – often with zero fees – directly to other users on the exchange. This is especially helpful for those in regions with limited banking access.
Fee Structure and Discounts
The competitive fee structure stands out as one of Binance’s strongest selling points, according to multiple Binance reviews:
Standard Spot Fees: 0.1% for both makers and takers and significantly lower than most competitors
Futures Fees: 0.0.2% for makers and 0.05% for takers
There are several fee reduction methods:
- 25% discount when paying fees with BNB (Binance’s native token)
- An additional 20% discount by entering our referral code when registering an account
- Lower rates as you reach higher VIP levels based on your 30-day trading volume
- Experience zero-fee trading on selected BTC and stablecoin trading pairs
Deposit fees are also free for crypto, while withdrawal fees can vary depending on the blockchain network used. Fiat deposit and withdrawal fees are based on your region and the payment method you choose, so keep that in mind before expecting a zero-fee experience. As always, terms and conditions apply.
Our Binance Affiliate Program Review
The Binance affiliate program is one of the most attractive referral programs available on the market today. Binance’s referral program offers a comprehensive collection of benefits through its two distinct modes. Each of these modes caters to different user needs.
The Standard Referral Mode (also called Referral Pro) allows users to earn ongoing commissions from trading fees paid by referred users across Binance’s Spot, Margin, and Futures platforms.
You can create up to 20 customizable codes featuring different reward splits. This option is ideal for influencers and serious marketers looking to maximize their referral potential. The base commission rate starts at 20%, with referrers having the flexibility to pass on a portion to their invitees.
Binance’s Lite Referral Mode provides a straightforward alternative for those seeking immediate rewards without complexity. This program offers the referrer and new users 100 USD in trade fee rebates for each successful sign-up and KYC verification. Additionally, the new user must deposit at least 50 USD within 14 days of registration to qualify.
While simpler, it’s worth noting that you can’t switch from Lite to Pro mode once you’ve chosen your desired mode. It’s also important to note that Binance Futures offers its own dedicated referral program with a 10% discount on futures trading fees. This fee discount makes it particularly valuable for traders who regularly use leverage.
When implementing these programs, users should be mindful of regional restrictions, as Binance US operates under different regulatory requirements. Check out our comprehensive guide for full details on the Binance referral program.
Security Measures and Asset Protection
One common question we are asked when it comes to the Binance platform is: “is Binance safe?” Security is the primary consideration when it comes to digital assets and crypto, and Binance understands this very well.
The platform has in place some of the best security practices in the industry and, despite suffering from a handful of small security breaches over its lifetime, has always made users completely whole.
Protecting Your Account and Assets
Binance has enacted a multi-layered security approach that helps to answer that nagging question “is Binance safe?” with a high degree of confidence:
Cold Storage: How Binance stores user funds is of central importance regarding exchange security. Binance utilizes offline cold wallets to store the vast majority of user funds, making them inaccessible to online bad actors.
Multi-Factor Authentication: It’s a requirement to enact two-factor authentication (2FA) to access your account and submit transactions on Binance, meaning that even if your machine is compromised, you have an extra layer of protection.
Risk Management System: Binance conducts real-time monitoring for suspicious activities, including automated security responses, placing temporary withdrawal freezes on accounts if they detect any unusual activity.
Address Whitelisting: By restricting withdrawals to pre-approved addresses exclusively, the platform helps to prevent otherwise unauthorized transfers, even in the event of a compromised account.
SAFU (Secure Asset Fund for Users): A dedicated $1 billion emergency insurance fund was created to provide additional protection for user assets in the case of any security breach that might result in the loss of user funds. This program allocates a portion of trading fees and increases over time. This fund was notoriously used after a 2019 security breach to fully compensate affected users with over 7,000 BTC.
Binance vs. Binance US: Understanding the Differences
There are some regulatory requirements to consider when choosing any exchange, but Binance has made this choice easier. Rather than simply excluding US-based customers, they created a US-specific platform called Binance US. This portion of our Binance US review highlights the differences between the two.
Key Platform Differences
Our Binance US review revealed several key differences between the global platform and Binance US. While the international exchange boasts an impressive selection of 500+ cryptocurrencies across 1300+ trading pairs, Binance US offers a more limited selection of options with approximately 150 cryptocurrencies and 170+ trading pairs.
The feature set also differs, as the US-based platform lacks several advanced trading options that global users enjoy, particularly with margin trading capabilities and derivatives products. Regional accessibility presents another limitation, as Binance US operates in only 38 of the 50 states due to varying regulatory environments that prevent the exchange from functioning in certain jurisdictions.
The regulatory framework is the main driver of the differences between the two platforms. Binance US must operate under strict US financial oversight and compliance standards, while the international exchange follows different regulatory requirements determined by the jurisdictions in which it operates, allowing Binance to take a more localized approach to compliance.
Special Features and Services
Beyond basic trading, Binance offers a wide range of services and features that have helped it maintain its place as the number one exchange on the market. These features have been steadily expanded over time to help users make the most of their crypto experience.
Binance Earn stands out as one of the premier features on the Binance platform because it allows users to earn passive income in different ways. Generate yield on over 300 cryptocurrencies with potential returns of up to 50% APR through flexible savings, locked staking, DeFi staking, and liquidity pools.
The platform also offers Binance Launchpad and Launchpool, in a unique way of letting users directly participate in token sales while providing a level of safety, security, and accessibility that offsite token launches may lack.
For users holding Binance’s native token BNB, the BNB Vault gives you an efficient way to earn rewards from multiple products simultaneously with minimal effort. This streamlined approach allows BNB hodlers to maximize their token utility across the entire Binance ecosystem without having to manage strategies in several places.
Pros and Cons of Using Binance
To make an informed decision on an exchange to suit your particular crypto needs best, reviewing both the pros and cons of each platform is essential. This section addresses common questions that users have, like “is Binance legit?” and “is Binance safe?” offering practical insights that will help you to make the right choice.
Advantages of Binance
Binance has risen to prominence due to the compelling advantages it offers to traders and investors. The global platform offers access to over 500 cryptocurrencies and 1300 trading pairs. This level of access is unparalleled in the industry and helps users maintain diversity when building their portfolios.
Binance also offers some of the most competitive fees on the market, further boosted though its enticing referral program. These options make Binance an economical choice for frequent traders.
Of course, security is a top priority. Multiple protection layers and significant insurance funding help to safeguard users’ assets against potential threats. But what truly sets Binance apart is its complete ecosystem that puts multiple trading opportunities, earnings potential, NFT functionalities, and Web3 capabilities into a single, unified platform.
The exchange’s high trading volume ensures excellent liquidity, meaning any trades you make won’t have much price slippage. Plus, if you’re seeking to elevate your trading strategies, Binance’s educational resources help you earn while learning about various platform features and trading options.
All of these advantages, when combined, make Binance one of the most accessible platforms for newcomers while simultaneously being the top platform for experienced traders looking for advanced options.
Limitations to Consider
Binance offers extensive trading options but also has several notable drawbacks for potential users. If you’re easily overwhelmed by choices, Binance’s complex interface requires patience, as the platform can initially be challenging to navigate.
Given that the best platforms offer in-depth features for advanced users, this tradeoff is a reasonable one, and Binacne does a good job of ensuring that the primary functions of its exchange are front and center, trying not to overwhelm new users.
Regional restrictions can also impact functionality in certain locations, most notably in the UK, where major banking institutions have blocked transfers to and from the exchange. While UK users can still access Binance’s features, they face limited payment method options.
This restriction is even more prominent for American traders, who can only access Binance US. This sister platform includes significantly fewer features than the international version, creating an entirely different experience.
Binance also had to settle a $4.3 billion dispute with U.S. authorities in 2023 regarding past regulatory noncompliance. Although this settlement made no mention of mishandling user funds or security issues, it resulted in Binance’s implementing increased regulatory compliance measures. These overhauls included even stricter KYC requirements and installing a new CEO.
Customer service quality also remains inconsistent, according to user feedback. Support response times are reportedly slow during peak periods and times of high user volume, which, while understandable, can be frustrating should you require assistance with your account.
Binance Review Conclusion: Is It Right for You?
Our Binance review has found that Binance still commands the number one spot on the exchange list in 2025 for many reasons.
The contributors to its success range from its competitive trading fees and abundance of trading pairs to the dedication to user security and the safeguarding of funds consistently displayed by Binance since its inception. For most users looking for a full-service crypto platform with extensive trading options, Binance delivers exceptional value.
Beginners may think they will face a learning curve due to the platform’s relative complexity, but the educational resources offered by Binance can help you overcome this swiftly and quickly learn to use the platform to its maximum potential.
The advanced tools, coupled with a diverse asset selection, will undoubtedly be appreciated by experienced traders.
Ultimately, Binance combines security, variety of choice, and competitive pricing, culminating in one of the best choices in 2025 for any seasoned crypto user or intrepid newcomer to the space.
Frequently Asked Questions
Is Binance safe to use in 2025?
Yes, Binance maintains a highly robust security protocol, including the use of cold storage, mandatory enabling of 2FA (two-factor authentication), and a $1 billion SAFU fund used for making users whole in the event of a security breach. While no exchange is entirely immune to risk, Binance has always demonstrated a strong commitment to user security.
What’s the difference between Binance and Binance US?
Binance US is a separate exchange entity that operates under US regulations, including fewer cryptocurrencies available for trade (approximately 150) and generally more limited features. It’s currently available in 38 of the 50 US states. This is compared to Binance’s global platform, which offers many crypto trading opportunities (500+) and the full gauntlet of trading options but is unavailable to US residents.
What are the fees for trading on Binance?
While the standard spot trading fees are 0.1% per trade (both maker and taker), future fees stand at 0.02% for makers and 0.05% for takers. These fees can be substantially reduced by utilizing Binance’s native token BNB for payments, using the referral code WU16G8DX, or by reaching a higher VIP level through increased trading volume.
Is Binance available worldwide?
Binance serves hundreds of millions of users across nearly the entire globe, with a few restrictions in certain jurisdictions. These include the United States (Binance US is available instead), Ontario (Canada), and mainland China. To determine whether your jurisdiction allows you to participate in the Binance experience, contact Binance customer support.
How long does verification take on Binance?
Verification of user accounts on Binance typically takes between a few hours and a few days, depending on the application volume. Basic account verification will require a valid government ID, proof of address, and facial verification.
What do Binance Trustpilot reviews say about the exchange?
Binance Trustpilot reviews show primarily positive feedback, with experienced traders rating Binance highly on trading features set and competitive fees, while some express frustration with the learning curve of the platform features and longer customer response times.
Is Binance suitable for beginners?
Binance offers some excellent resources for beginners in the form of Binance Academy, which contains comprehensive and rewarding activities and educational guides to help flatten the learning curve and familiarize you with various platform features. Those new to trading or to the interfaces should start with the basic interface option and simple spot trading before exploring the advanced trading features like margin trading or futures markets.
What is BNB and why is it important for Binance users?
BNB is Binance’s native cryptocurrency token. It was initially launched to the public via an ICO (initial coin offering) in 2017 and serves as a utility token for the exchange, offering various benefits. These include a 25% reduction in trading fees when using BNB to pay for transactions, access to token sales on Binance Launchpad, and enables users to participate in BNB Vault earning opportunities. Using the BNB token, users can even participate in the governance of certain Binance ecosystem projects. For most Binance traders, holding a bit of highly advantageous for the trading fee discounts alone.
