Highest Volume Crypto Exchange Globally
Binance was founded in 2017 by Changpeng Zhao (CZ) and rapidly became the world's largest cryptocurrency exchange by trading volume. With over 230 million users and $76 billion in daily trading volume at peak, it offers the widest selection of cryptocurrencies (350+) and the deepest liquidity of any exchange. Binance has faced significant regulatory challenges in multiple jurisdictions (UK, USA, Netherlands) but has been obtaining licences across EU countries since 2022. In 2023, Binance reached a $4.3 billion settlement with the US Department of Justice, and CZ stepped down as CEO (replaced by Richard Teng).
| 🏛️ Founded | 2017 |
| 📍 Headquarters | Cayman Islands (global operations) |
| 📈 Listed on | Private |
| 📜 Regulators | Various national licences: FCA (UK — no longer), MAS (Singapore — withdrawn), AMF (France), VASP licences across EU countries. Regulatory status varies significantly by country. |
| 💵 Min. Deposit | $10 |
| 💰 Stock/ETF Commission | N/A |
| 💱 FX / Spread | N/A |
| 😴 Inactivity Fee | None |
| 🏧 Withdrawal Fee | Varies by crypto network; free SEPA bank transfers |
| 🖥️ Platforms | Binance Web, Binance App (iOS/Android), Binance Pro |
| 🎮 Demo Account | No |
| 🛡️ Investor Protection | Safu Fund: $1B emergency reserve. No government investor protection for crypto assets. |
| 👥 Clients | 230,000,000+ |
Binance offers a web platform, mobile app (iOS/Android), and a 'Convert' feature for simple swaps. Binance Pro (formerly Binance Advanced) provides a full trading terminal with TradingView charts, order book, depth chart, and multiple order types. The mobile app is feature-rich and supports both simple and advanced trading. Binance also offers TradingView integration. The interface can feel complex for beginners due to the sheer number of products.
Binance is the broadest crypto platform available: 350+ spot cryptocurrencies; Binance Earn (flexible and fixed-term savings, up to 20%+ APY on select coins); Binance Launchpad (new token launches); Binance NFT marketplace; crypto loans; crypto debit card (Binance Card); P2P trading; and for non-EU/UK clients, futures and margin trading. Staking is available for 100+ coins. Simple Earn auto-compounds returns.
Spot trading: standard maker/taker 0.10%/0.10%; with BNB payment: 0.075%/0.075%. Volume discounts available from $50k/month. Staking: no platform fee. Withdrawal: crypto network fee (varies); free SEPA bank transfer. No inactivity fee. Binance Card: no issuance fee, 0.9% cashback in BNB. P2P: 0% fees for advertised trades.
| Stocks & ETFs | N/A |
| Forex / Spread | N/A |
| Inactivity fee | None |
| Withdrawal fee | Varies by crypto network; free SEPA bank transfers |
| Min. deposit | $10 |
Binance maintains the SAFU (Secure Asset Fund for Users) — a $1 billion+ emergency reserve funded by 10% of trading fees, used to compensate users in the event of a security incident. In 2022, Binance suffered a $570M bridge hack (BNB Chain) which was partially offset by SAFU. In 2023, Binance and CZ settled with the US DOJ for $4.3 billion, the largest financial settlement in crypto history. Since then, Richard Teng has led the company with a focus on compliance. Proof-of-reserves published regularly. 95%+ of assets in cold storage.
| Regulators | Various national licences: FCA (UK — no longer), MAS (Singapore — withdrawn), AMF (France), VASP licences across EU countries. Regulatory status varies significantly by country. |
| Investor Protection | Safu Fund: $1B emergency reserve. No government investor protection for crypto assets. |
| Publicly Listed | Private |
Available in 100+ countries. Not available in: USA (Binance.US is a separate entity), UK (withdrawn), Ontario Canada. Regulatory status varies — always check current availability in your country.
Binance is the best choice for crypto traders who want access to the widest range of cryptocurrencies, deepest liquidity, and lowest fees. Its 350+ coins, Binance Earn, and NFT marketplace make it a comprehensive crypto hub. However, its regulatory history (DOJ settlement, withdrawal from UK and USA) means it is not the right choice for users who prioritise regulatory certainty. For regulated crypto investing, Coinbase or Kraken are safer alternatives.
* Cryptocurrency trading involves significant risk of loss. Binance's regulatory status varies by country. Always check availability in your jurisdiction before opening an account.