Binance

Last updated: August 19, 2025

Binance (short for “Binary Finance”) is one of the most liquid and popular cryptocurrency exchanges in the world. The crypto exchange website offers cryptocurrency buying and selling; spot, P2P, OTC, futures trading with up to 20x leverage, options, margin trading; staking, lending, farming, mining pool, liquidity pool, NFT, fan tokens, and other products.

For all new Binance users, there is a special offer from our website with the opportunity to receive bonuses of up to 600 USDT. They come in the form of cashback vouchers and trading coupons. You need to register and complete the tasks in the “Task Center” in your personal account within 7 days. After completing them, you can collect your voucher in the “Rewards Center” section.

The exchange has been operating since 2017, and its parent company is Binance Holding Limited.

Experts have studied the Binance cryptocurrency platform in detail and prepared an overview of its features. Binance ranks first in the rating of the best cryptocurrency exchanges in terms of trading volume, liquidity, and traffic according to Coinmarketcap, and in terms of reliability according to Coingecko. 

✅ 380+ cryptocurrencies and 1,300+ trading pairs

✅ Fees below market average — starting at 0.1%

✅ Access to Earn, P2P, NFT, Launchpad, Web3 wallet, crypto loans

❌ Identity verification (KYC) required

⚠️ Disclaimer: This article is for educational purposes only and does not constitute financial advice. Cryptocurrency trading involves the risk of capital loss.

General Information about Binance

Regulation of the Binance Exchange and Regional Specifics

• Binance operates under multiple licenses in the EU (France, Italy) and in Dubai, Kazakhstan.
• In the US, services are offered through a separate entity: Binance.US, which complies with FinCEN requirements.
• Some features like derivatives are restricted in certain regions.

Binance operates globally under a fragmented regulatory framework, adapting its services to local laws in each jurisdiction. The platform holds licenses in several regions, including parts of the European Union, Dubai, and Kazakhstan, while maintaining compliance with AML and KYC standards worldwide.

In the United States, Binance does not operate directly. Instead, services are provided through a separate entity, Binance.US, which follows FinCEN regulations and offers a limited set of products. Certain features, such as derivatives, are restricted or unavailable in many countries due to local regulations.

Binance Registration and Account

Registration on the official website binance.com requires filling out a form. Once all the data has been entered, click “Create personal account” and solve the captcha in the new window by moving the slider with the image to the correct place. If everything is done correctly, a notification will appear asking you to confirm your email address. You need to go to your email account, open the letter from the exchange, and find the activation code.

Then enter it in the registration window. Your account on the official Binance website has been successfully created. 

How to sign up:

1. Visit the official Binance website.
2. Enter your email or phone number.
3. Create a password.
4. Confirm the code sent via email or SMS.
5. Enable two-factor authentication (Google Authenticator or SMS).

KYC Verification

Verification of personal information on the Binance cryptocurrency exchange is required to perform any transactions with cryptocurrencies or fiat currencies.

It is also important to note that the verification process on Binance must be completed within 15 minutes. Refreshing the page, restarting the browser, or disconnecting from the internet is not permitted. There are three attempts per day to complete the process without any issues.

Instructions:

• Log in to Binance to access your personal account.
• Click on the “Verification” button in your personal account. This feature is only available when two-factor authentication is enabled. Click “Start” for the first level of verification.
• Fill in your personal details: first name, last name, patronymic; date of birth; residential address.
• Select the type of ID (citizen’s passport, driver’s license, ID card). For example, let’s choose a passport.
• Switch to KYC verification from a mobile device. Take a photo of your documents.
• Next, complete the facial verification.

Then all that remains is to submit your application and wait 1-3 days for it to be reviewed. If your application is rejected, you will be notified of the specific data that raised questions.

• Basic: withdrawal limit up to 2,000 USDT/day.
• Advanced: up to 100 BTC/day plus access to Binance Card.

📌 Example: A U.S. resident can verify identity with a passport or driver’s license and then fund the account in USD via ACH transfer, debit card, or Binance P2P.

Logging in to the official Binance website

To log in to your Binance account, click “Login” at the top of the page and enter your username and password. Be sure to check that you have actually been redirected to the official website www.binance.com, and not to a phishing site with a similar name.

After entering your details, click “Login.” You will need to solve a captcha by dragging the slider, just like when registering, and then confirm your login with a code sent to your email or phone.

Before you start working, it is recommended that you secure your account and enable two-factor authentication for login.

If you are not sure whether these precautions are necessary, you can simply ignore them and click “Remind me later,” but this window will pop up frequently.

To go to your personal account, click on your email address in the top menu.

Initially, the account is not verified, so there is a restriction on any financial transactions — you cannot deposit funds, trade, or invest. To remove the limits, you need to go through verification. To do this, you need to upload the required documents to confirm your identity and address of residence. This cannot be done without enabling two-factor authentication (2FA).

Trading on Binance

Spot Trading

• 380+ coins (BTC, ETH, BNB, SOL, XRP, etc.).
• Order types: limit, market, stop-limit, OCO.
• Fee: 0.1% (0.075% when paid with BNB).

📌 Example: Buying ADA/USDT with $100 incurs a $0.10 fee, or $0.075 if paid with BNB.

After replenishing your exchange wallet balance, you can start trading on the Binance exchange. The standard commission for the spot market is 0.1% of the transaction amount.

📌Step 1. To start trading, go to the Binance website and select “Wallet,” then “Fiat and Spot.” Select a cryptocurrency, click “Trade,” and then select a currency pair. For example, Cardano cryptocurrency is traded in pairs with Bitcoin (ADA/BTC), Ethereum (ADA/ETH), and many other assets.

📌Step 2. There is another way to access the trading terminal. Hover over “Trade” and select the type – Spot.

📌Step 3. Next, select the type of trading order: Limit, Market, Stop-Limit. In a limit order, specify the desired purchase or sale price of the asset and the quantity.

Market – instant execution of the order at the market price; you only need to specify the quantity.

Stop-Limit is the same as a limit order, but you also need to specify the stop price at which it will be activated. For example (see screenshot), if the price of BNB falls to $340 (Stop), a buy order will be placed and executed at $324 (Limit). Such orders are useful if you expect support or resistance levels to be broken.

In principle, trading cryptocurrency on the Binance exchange is no different from other exchanges. Everything is simple and straightforward once you get the hang of it. 

Margin Trading

• Leverage up to 10x.
• Requires margin account and KYC.
• Loan interest accrues hourly.

📌 Example: With $1,000 deposit, you can borrow $2,000 and open a $3,000 position.

Margin trading allows you to use leverage to potentially increase your profits. However, this also increases the risks. Binance offers a margin trading feature, which we will discuss in more detail.

To use this feature, you need to create and fund a separate margin account on the crypto exchange. This feature is only available to users who have completed the KYC (know your customer) verification process and enabled two-factor authentication.

The margin account is accessible from the “Wallet” section of your account profile.

Funds are transferred quickly, and immediately after that, you can start trading using your margin account (section “Trade” -> “Margin”).

Terms and conditions of margin trading on Binance.

The Binance cryptocurrency exchange charges interest for providing credit funds. The interest rate is calculated based on the number of hours (if less than an hour passes, the calculation is for one hour). If the daily interest rate is 0.02%, the hourly interest rate can be calculated using the formula 0.02% / 24 hours.

When trading, you can choose pairs with a maximum leverage mark next to their name, for example, 10x or 3x.

Binance provides the ability to assess the level of risk. To do this, it uses the so-called margin level — the ratio of the total value of funds to the amount of credit resources together with interest. If the margin level is 1.5 or higher, the default mode with access to all functions is used. 1.3 or lower – a margin call notification will be sent. 1.1 or lower – funds will be liquidated until the margin level returns to normal.

Binance Futures

• Launched in 2019.
• Leverage up to 125x.
• Perpetual and quarterly contracts available.

📌 Example: A trader opens a 0.01 BTC long at $25,000 with 20x leverage. Margin = $12.5. If price rises 1% to $25,250, profit = $25 (2x margin).

On September 13, 2019, the exchange launched Binance Futures, a platform for trading perpetual cryptocurrency futures. From the outset, the BTCUSDT contract was available with 20x leverage. Currently, several dozen perpetual and quarterly contracts with leverage of up to 125x are available.

The trading commission depends on the trading volume over the last 30 days and the availability of the BNB exchange token on the balance. Initial conditions: commission for makers — 0.018%; for takers — 0.036% (USDT-M futures), 0.01% / 0.05% (COIN-M futures).

To view the history of all orders created, go to the “Order History” section. The “Trade History” section shows closed trades. 

Deposits and Withdrawals

Deposit

• Fiat: Visa/MasterCard, ACH, SEPA, Apple Pay.
• Crypto: BTC, ETH, USDT, BNB, etc.

📌 Example: A U.S. customer can deposit USD via ACH transfer or debit card.

Binance supports both cryptocurrencies (over 380 coins) and fiat currencies (US dollar, euro, and others). To make a deposit or withdrawal from your account, log in to your personal account on the Binance website, select “Wallet,” then “Spot.”

This section lists all assets supported by the exchange (you can find the one you need using the search field). To replenish your Binance account with the selected cryptocurrency, click “Deposit” next to it. If the deposit or withdrawal operation is not available for a cryptocurrency, the word “Suspend” will appear.

For example, to replenish Binance with Ripple (XRP) cryptocurrency, you need to click “Deposit” and copy the wallet address and destination tag.

Then, go to another exchange or wallet, enter this wallet information on Binance, and transfer the cryptocurrency. This method can be used to transfer any cryptocurrency, such as BTC (Bitcoin), to the exchange.

To top up the Binance exchange with fiat currencies, you need to go to your wallet and click “Deposit” in the same way. Then select the desired top-up method. 

Direct top-up is only available for some currencies; for others, you can use P2P.

Information about commissions is also provided here. Enter the amount and other details on the left, after which the selected payment system or bank will be responsible for the transfer, where you will need to confirm the transaction. 

Withdrawal

• Minimum limits:
  • BTC — 0.00019 BTC
  • ETH — 0.0029 ETH
  • USDT (TRC-20) — 10 USDT
• Processing time: 30–60 minutes.

📌 Example: Withdrawal of 100 USDT on TRC-20 → fixed fee = 1 USDT.

Step-by-step instructions for withdrawing cryptocurrency from the Binance exchange:

• Go to the “Wallet” section, “Fiat and Spot”.
• Find the desired cryptocurrency.
• Click “Withdraw.”
• Enter the wallet address where you want to receive the cryptocurrency and other information as necessary. Select the network if the coin exists on multiple blockchains.
• Enter the amount. Pay attention to the minimum and maximum withdrawal limits. Verification is not required when working with amounts less than 2 BTC within 24 hours.
• Click “Send.”
• Enter the 2FA two-factor authentication code.
• Confirm the withdrawal via email or SMS.
• Wait for the transaction status to change to Completed.

Binance Earn: Passive Income

With Binance Earn, users can earn passive income by putting their unused cryptocurrency assets into circulation. Deposits can be flexible or fixed (for a term of 7 to 90 days). The annual interest rate ranges from 1 to 30%, depending on other conditions for specific deposits.

This section is a universal solution that includes features such as:

• Staking: BNB, ETH, SOL, etc.
• Fixed savings (7–90 days).
• Flexible savings (withdraw anytime).
• Launchpool: stake coins and earn free tokens of new projects.
• Auto-Invest: recurring crypto purchases.

📌 Example: Deposit 1,000 USDT in a flexible product at 5% APY → about $4.1 monthly return.

Binance Loans – crypto loans

Binance Loans is a platform that allows users to take out loans in cryptocurrencies and stablecoins, using other crypto assets as collateral. The borrower chooses the loan term independently. Loan approval is instant, funds are credited to the account and can be used for regular or futures trading on Binance.

Depending on market conditions, Binance Loans will expand the range of supported cryptocurrencies, restrictions, types of collateral, and interest rates.

After full repayment, the collateral will be returned to the exchange wallet. In case of partial repayment, the collateral is not automatically returned, but can be withdrawn manually. To do this, click the “Adjust LTV” button next to the loan in the “Loan History” section, then move the slider or enter the amount manually. Please note that it is recommended to keep the LTV at 65% or below. It can be increased or decreased in the same way.

The entire history of loans taken out and repaid can be found in the “Orders” -> “Loan History” section.

If you are late in paying your loan, the system will give you three additional days, charging triple interest for them. The loan will then be automatically closed by liquidating the collateral. 

P2P and OTC

P2P Trading

• Available: BTC, ETH, BNB, USDT, USDC.
• 20+ payment methods (bank transfer, e-wallets).
• Escrow protection.

📌 Example: Buy USDT worth $500 via U.S. bank transfer. Funds are released to the buyer after seller confirms payment.

Binance P2P is a marketplace that allows sellers from all over the world to exchange assets. Initially, it was launched only for Android users and only with the Chinese yuan, but its functionality has since expanded. Trading is only available to users who have passed KYC.
Currently, you can trade cryptocurrencies such as BTC, ETH, BNB, USDC, FDUSD, USDT, and DAI.

User interests are protected by an escrow account system, which automatically reserves the amount of cryptocurrency. It is only unlocked after the seller confirms payment from the buyer. If you are a seller, only confirm receipt of funds after you are sure that they have been credited to your account; do not take anyone’s word for it.

During the transaction, a chat is available for communicating with the counterparty. If a problem arises that you cannot resolve yourself, you can click the “Appeal” button and call on the support service for help.

OTC (Over-the-Counter)

• For volumes starting at $200,000.
• Block Trading option available.

OTC Binance is an over-the-counter trading portal. It includes two main tools:

Binance Convert. The ability to quickly convert funds within your account without commission and with virtually no slippage. The tool is suitable even for small amounts.
Block Trading. Custom solutions for large transactions starting at $200,000. This is how institutional investors mainly conduct their transactions.
All coins and tokens listed on Binance are available for trading.

Binance Trading Bots

Trading on Binance can be made easier by using crypto trading bots. This is one way to control trading operations, in some cases allowing you to work more efficiently and quickly. However, not all bots have sufficient functionality to ensure quality control.

The payment structure varies between different bots — it can be a fixed amount per month/year or a percentage of the profit.

The platform has built-in automation tools:

• Grid Trading bot.
• Market bot (Spot Grid).
• Futures bot.

You can also connect external solutions via API: 3Commas, Bitsgap, Cryptorg.

📌 Example: a trader connects 3Commas to Binance and launches a DCA bot to regularly buy BTC.

Binance Fees

• Spot: 0.1% (0.075% with BNB).
• Futures: from 0.018% maker / 0.036% taker.
• Margin: standard trading fee + loan interest.
• Withdrawal: depends on cryptocurrency.

See official table: Binance Fees - En fee.

General information about Binance spot market trading fees:

The standard spot market fee is 0.1%.

The following option is set by default (can be disabled): if there are enough BNB tokens in your balance, they are automatically deducted and reduce the transaction fee by 25%.

The fee level also depends on the user’s level, which in turn is determined by their trading volume over the last 30 days and the amount of BNB in their account.

Information on trading volume and BNB balance is updated every day at 00:00 (UTC). An hour after that, the user level is also updated.

Margin trading fees:

When calculating margin trading fees, a percentage for the use of funds is added. It depends on the specific cryptocurrency and the account level, which is determined by the principle described above (trading volume and amount of BNB).

Futures market fees:

In futures trading, a funding rate for perpetual contracts is added to the fees. It can be either positive or negative. All VIP statuses obtained in a regular account are retained for futures and continue to provide benefits.

The funding rate is used to force the price convergence between the perpetual futures market and the actual asset price. On Binance, funding occurs every 8 hours and affects all traders who have open positions at that moment. If the rate is positive, long position holders pay short position holders, and vice versa. 

Security

• SAFU fund for emergency coverage.
• Two-factor authentication.
• Anti-Phishing Code.
• Licenses: ESMA, FCA, FinCEN (USA).
• Regular Proof-of-Reserves audits.

📌 According to Coingecko (2025), Binance ranks among the top 3 most trusted exchanges.

Binance vs Competitors

User Reviews

There are both positive and negative reviews of the Binance exchange on the internet. The platform is evolving, with new features and trading tools being added. For example, margin and futures trading, an IEO service, passive income methods, the ability to fund your account with fiat money, and P2P trading.

For passive income on the Binance crypto exchange, a landing program and cryptocurrency staking have been launched. A decentralized platform is in operation, and the Binance Chain blockchain network was launched, followed by Binance Smart Chain. The Binance.US platform has been launched for traders from America. Part of the profits goes to a special fund called SAFU (Secure Asset Fund for Users) to cover losses in case of unforeseen situations.

The advantage of the Binance cryptocurrency exchange is the large number of available coins (all popular coins are traded on this platform), as well as a small commission of 0.1%. The disadvantages include a ban on registration in some jurisdictions and mandatory verification. 

🔹 John Miller, trader, Trustpilot, 01/12/2025: “#1 exchange for liquidity. Smooth interface, fast withdrawals. Not available in Russia though.”

🔹 Emily Davis, investor, Reddit, 01/05/2025: “I use Binance Earn. Returns are moderate but reliable. Payouts on time.”

🔹 Chris Johnson, crypto blogger, Twitter/X, 12/20/2024: “Futures with 50x leverage are powerful tools. Risk management is key.”

🔹 Michael Brown, miner, MiningClub, 12/11/2024: “Binance Pool is convenient, but yields are a bit lower than niche pools.”

🔹 Sarah Lee, investor, Trustpilot, 11/03/2024: “USDT withdrawal took 20 minutes. Support replied quickly.”

🔹 David Wilson, developer, GitHub Discussions, 10/22/2024: “Great API for integration, though sometimes delays occur.”

🔹 Robert Clark, trader, Bitcointalk, 09/15/2024: “My account was once frozen for review. Funds were returned after 5 days.”

Conclusion

Binance remains the global leader in crypto by liquidity and trading volume. The platform unites spot and futures trading, P2P, Earn, crypto loans, NFTs, and Web3. Regular PoR reports and licenses across jurisdictions make Binance a reliable choice for traders and investors.

The popularity of the Binance exchange is due to many factors, including a wide selection of assets for trading, multifunctionality, and active communication between the team and users. But obviously, one of the key factors is the flexibility of the platform and the team’s interest in new trends in the cryptocurrency sphere. If a new promising direction emerges, be it DeFi or NFT, you can be sure that it will eventually be on Binance.

In addition, this exchange is a powerful launch pad for new projects, which can distribute tokens here using IEO or Launchpool, thereby attracting a loyal audience right from the start. Despite the fact that the exchange also has its drawbacks, it is definitely the leading platform for cryptocurrency trading today.