Binance Review: What You Need to Know About the World’s Largest Crypto Exchange
When you think of Binance, the world’s largest cryptocurrency exchange by trading volume. Also known as Binance.com, it offers spot trading, futures, staking, and a native token (BNB) used to cut fees. Since launching in 2017, Binance has grown faster than any other crypto platform, but that speed comes with trade-offs. It’s not just a place to buy Bitcoin—it’s a full ecosystem with its own blockchain, wallet, launchpad, and even a decentralized exchange. But not everything about Binance is perfect.
Many users love Binance for its low fees, deep liquidity, and 500+ trading pairs. But others get burned by its complex interface, sudden regulatory crackdowns, or unclear rules around withdrawals. In 2021, it settled a $4.3 billion fine with U.S. regulators over compliance failures. That’s not a small detail—it’s a red flag if you’re looking for a fully regulated, bank-like experience. And while Binance.US exists as a separate, more restricted version for American users, the main platform still operates outside U.S. jurisdiction. If you’re outside the U.S., you get more features but less legal protection. That’s the trade-off.
Security is another mixed bag. Binance has never been hacked at the exchange level, but it’s lost hundreds of millions in user funds due to phishing, SIM swaps, and poor internal controls. Its SAFU fund (Secure Asset Fund for Users) covers losses, but that’s a last resort, not a guarantee. And while Binance offers two-factor authentication and IP whitelisting, many users still turn off alerts or reuse passwords. If you’re serious about safety, you should treat Binance like a trading terminal—not a bank.
What about the BNB token? It’s not just a gimmick. Holding BNB gives you 25% off trading fees, access to exclusive token sales, and even discounts on travel and bills through Binance’s partner network. But it’s also volatile, and its value is tied directly to Binance’s reputation. If the exchange loses trust, BNB drops hard.
So who should use Binance? Traders who want low fees, fast execution, and a ton of coins to pick from. Not beginners who need hand-holding. Not investors who want FDIC-style insurance. And definitely not people who expect to call customer service and get a real person on the line.
Below, you’ll find real reviews of Binance and other exchanges—some with 0% fees, others that vanished overnight. We don’t just list features. We dig into what actually happened to users, what went wrong, and what you should watch out for before you deposit your crypto.
