If you’re just starting to explore finance and cryptocurrency, one of the first platforms worth paying attention to is Binance. It’s the largest crypto exchange in the world, and you can use it both from a computer and a smartphone.
Binance is the world’s largest cryptocurrency exchange, founded in 2017. In just a few years, it became the most popular exchange and secured a leading position thanks to its low fees, high liquidity, and extensive functionality.
In this Crypto Insite review, we’ll break down the main advantages and disadvantages of the platform, trading conditions, fees, and the capabilities of the world’s #1 cryptocurrency exchange.
Official site: Binance
Key Information About Binance Exchange
- Year Founded: 2017
- Founder: Changpeng Zhao (CZ)
- Jurisdiction: Registered in the Cayman Islands, previously based in China and Hong Kong
- Daily Trading Volume: Over $65 billion (as of 2025)
- Number of Users: More than 160 million
Binance supports over 500 cryptocurrencies and 1,400+ trading pairs, including fiat currencies (USD, EUR, RUB, UAH, and others).
About Binance
Binance was founded in 2017 and has quickly risen to a leading position in the cryptocurrency market. Initially registered in China, the company relocated to Malta due to tightening regulations in China and later expanded its operations globally.
Binance offers a wide range of trading pairs, including not just BTC, ETH, and USDT, but also many lesser-known cryptocurrencies. The platform also supports trading in various fiat currencies, making it convenient for international users. Binance allows deposits and withdrawals in over 40 fiat currencies, including USD, EUR, GBP, and others.
Users can fund their accounts and withdraw money via bank cards, wire transfers, and P2P exchange. For advanced traders, Binance offers sophisticated tools like trading bots, algorithmic trading, API integration with external services, as well as advanced charts and market analysis indicators.
The exchange supports various blockchain platforms and tokens, allowing users to trade a wide range of assets, including ERC-20, BEP-2, and BEP-20 tokens.
Binance has an interesting history: from its launch in July 2017 to April 2025, it grew into the world’s largest exchange by trading volume. Despite strict rules and regulatory pressure, it continues to expand, offering more and more opportunities for both traders and investors.
The platform is designed so that even first-time users can navigate it easily. While the interface is packed with features, it’s relatively quick to get the hang of.
However, there are some limitations — certain features may be unavailable in specific regions due to local regulations. It’s important to check the current terms and conditions for your country before getting started. стоит обязательно изучить актуальные условия для своей страны.
Step-by-Step Guide to Using Binance for Beginners
Step 1: Account Registration
Create an account using the Binance app or the official website. You can sign up with your email, phone number, or log in via Apple ID or Google account.
Step 2: Identity Verification
Complete the KYC (Know Your Customer) process to gain full access to all features, including trading, deposits, and withdrawals. This only takes a few minutes. You’ll need a passport or other identification document and a photo for identity confirmation.
Step 3: Funding Your Account
Buy digital assets using a bank transfer, card, or P2P exchange. If you already have crypto on another platform or in a wallet, simply transfer it to your Binance account.
Also read: How to Buy Bitcoin — Step-by-Step Guide for 2025
Step 4: Trading
Once your account is funded, you can start trading. Choose between basic or advanced modes, and trade using spot or futures markets — Binance offers a wide range of trading tools.
Trading Features
After registering and completing quick verification, you can head straight to the main page where current prices are displayed — from Bitcoin and Ethereum to more exotic tokens.
Binance offers over 420 different cryptocurrencies for trading, including both popular and lesser-known altcoins. The platform supports various types of trading:
- Spot Trading – Buy and sell cryptocurrencies at current market prices.
- Margin Trading – Trade with borrowed funds, offering leverage of up to 10x.
- Futures and Options – Tools for trading crypto derivatives and managing risk.
- P2P Platform – Buy and sell cryptocurrencies directly with other users.
Binance Fee System
One of Binance’s key features is its flexible fee structure, which depends on several factors: the type of trade, trading volume, and whether the user holds Binance Coin (BNB)
1. Trading Fee
The base trading fee on Binance is 0.10% for both buyers and sellers. However, there’s a handy tip — users can significantly reduce this fee by using BNB (Binance’s native token) to pay.
2. BNB Fee Discounts
Users who pay fees with BNB receive discounts. The standard discount is 25%, but it can be even higher if the user holds a large amount of BNB. This incentivizes users to hold and use Binance’s token, helping boost its liquidity and popularity on the platform.
3. Volume-Based Trading Fees
Binance follows a Maker-Taker fee model, where the trading fee depends on whether the trade adds liquidity to the market (maker) or removes it (taker). A maker is a user who places a limit order that doesn’t immediately match another order, while a taker fulfills an existing order.
In general, maker fees are lower than taker fees. Active traders with high trading volumes can benefit from significantly reduced rates — as low as 0.02% for makers and 0.04% for takers. These discounts are determined based on a user’s 30-day trading volume and the amount of BNB they hold. The more BNB in your account and the higher your trading activity, the greater the discount you receive.
4. Commission for Deposits and Withdrawals
Commissions for deposits and withdrawals depend on the cryptocurrency and method. For most popular cryptocurrencies, such as BTC or ETH, withdrawal fees may vary depending on the network’s state and load. There is also a minimum amount required for withdrawals on the platform.
- Fiat currency deposits may depend on the transfer method and region. For example, additional fees may apply for bank transfers or systems like SWIFT.
- For cryptocurrency withdrawals, the fee depends on the specific cryptocurrency and network congestion.
5. Commission on Futures and Margin Trading
For users trading futures or margin, Binance offers different commissions depending on the type of trade:
- Futures: Futures trading also has a commission system, which can range from 0.02% to 0.10%, depending on the trading volume and use of BNB.
- Margin Trading: The commission for margin trading differs from the regular one and depends on the borrowed funds and the duration of their use.
6. Payments and Transfers Between Users
Binance also offers the ability to exchange and transfer funds between users without additional fees, as long as they use internal transfers within the platform.
Loyalty Programs and Bonuses on Binance
Binance offers its users various loyalty programs and bonuses that make trading and using the platform more profitable:
1. Commission Discounts: Users can receive discounts on trading fees if they use Binance Coin (BNB) to pay for the fees. The discount can be up to 25%, depending on the user’s level.
2. Binance Earn: A program that allows users to earn interest on their cryptocurrency assets. It includes various products such as staking, savings accounts, and liquidity pools.
3. Loyalty for VIP Users
Binance has a VIP level system where users with high trading or staking volumes can receive additional commission discounts and other privileges.
4. Trading Contests and Promotions
The exchange frequently holds various promotions and contests where users can win cryptocurrency or other bonuses.
5. Referral Program
A program for existing users that allows them to earn by attracting new traders. Partners can receive a percentage of the commissions paid by the referred users.
Binance Affiliate Program
The Binance affiliate program allows users to earn by attracting new clients to the platform. The program conditions include:
1. Referral Links: Every registered user can obtain a referral link, which their friends or colleagues can use to sign up on the platform. For each trader attracted, the affiliate will earn a percentage of the trading fees paid by that user.
2. Discounts and Bonuses for Referred Users: New users who sign up using a referral link often receive bonuses, such as commission discounts or cryptocurrency deposits to their account.
3. Commission Percentage
Partners earn a percentage of the trading fees paid by their referrals, making the program beneficial for long-term collaboration.
4. Analytics Platform
Binance provides partners with analytics to help track the performance of their referrals, showing how many users have registered and how much revenue their activity has generated.
NFT Market on Binance
Binance is actively developing the NFT (Non-Fungible Token) market, providing users with a platform to create, buy, and sell unique digital assets. Key features of the NFT market on Binance include:
NFT Marketplace: Binance NFT Marketplace is a place where users can exchange NFTs. The platform features various collections from renowned artists, brands, and even games.
NFT Creation and Sales: Users can create their own NFTs, upload them to the platform, and list them for sale. Binance offers a simple process for minting NFTs without high costs.
Popular NFT Categories: On Binance NFT, you can find various categories of tokens, including art, music, video content, and in-game items. This allows collectors and investors to discover unique assets.
Partnerships with Renowned Brands and Artists
Binance collaborates with well-known brands and artists to release exclusive NFT collections, attracting an interesting audience and increasing liquidity in the market.
Low Fees
Binance offers competitive fees for NFT transactions, which attracts more users and collectors.
Integration with Binance Smart Chain
NFTs on Binance operate on the Binance Smart Chain (BSC), reducing transaction costs and improving execution speed.
Thus, Binance provides its users with access to a broad NFT ecosystem, offering convenient conditions for creating, trading, and collecting unique digital assets.
Also read: Best NFT Marketplaces in 2025: Top 10 Platforms for Buying, Selling, and Creating NFTs
Security on Binance
User security is a priority for Binance. The exchange employs advanced technologies to protect funds and data, including two-factor authentication (2FA), anti-phishing codes, and storing the majority of assets in cold wallets.
Additionally, the Secure Asset Fund for Users (SAFU) has been established, which acts as a reserve in case of emergencies. For new users, Binance recommends enabling two-factor authentication to ensure account security.
| Method | Description |
| SMS Authentication | Receiving a confirmation code via SMS when logging in or withdrawing funds. |
| Google Authenticator | Generating one-time codes through an app that enhances security. |
Interesting Features of Binance
Educational Resources
To support its users, Binance offers extensive educational materials through the Binance Academy platform, including articles, videos, and guides on various aspects of cryptocurrencies and blockchain technology. Overall, Binance provides a wide range of opportunities for traders and investors, combining a variety of tools, low fees, and high security.
Copy Trading for Futures Markets
The copy trading feature allows users to automatically replicate the trades of experienced traders in the futures markets. Users can select leading traders to copy, set preferred risk levels, and receive a share of the profits.
Binance Link Affiliate Program
Binance Link provides organizations with the opportunity to integrate Binance’s trading services via API. Partners gain access to Binance’s liquidity and market depth, and can earn up to 50% of the trading fees. The program is aimed at large organizations with extensive user bases.
Binance VIP Program
The VIP program offers users who are marked by high trading volumes and significant BNB holdings preferential conditions, including reduced fees for spot and margin trading. The VIP level structure is based on the trading volume over the last 30 days and the amount of BNB tokens held.
Training for Beginners
For beginners, Binance provides detailed educational materials on topics such as how to trade, how to deposit funds, and how to securely store cryptocurrencies. If any questions arise, they can always be addressed to customer support, which responds promptly and in Russian.
Pros and Cons of Binance
|
Pros |
Cons |
|
Low fees, with discounts available when paying with BNB. |
Regulatory issues in some countries. |
|
Wide range of services (trading, futures, margin, staking). |
Difficulties with withdrawals in some regions. |
|
Large selection of cryptocurrencies. |
Competition with other exchanges. |
|
High level of security. |
Sometimes slow customer support. |
|
User-friendly interface for both beginners and professionals. |
High risk when trading with leverage. |
The Future of Binance
The future of Binance looks ambitious and promising. The exchange is actively investing in the development of new technologies and expanding its range of services to remain a leader in the ever-changing cryptocurrency space.
In the future, Binance users can expect the following changes:
Expansion of Services: The introduction of new financial instruments, trading pairs, and services related to DeFi and NFTs.
Also read: What is DeFi in cryptocurrency and how decentralized finance is changing the financial world?
Improved Security and Convenience: Investments in security technologies and enhancements to the user interface will make working with the exchange even more comfortable.
Innovative Solutions: The development of proprietary blockchain solutions and the integration of advanced trading automation technologies will open new opportunities for profit and optimization of trading strategies.
Global Reach: Adapting to international regulations and expanding presence in new markets will ensure access to the platform for users worldwide.
Thus, the future of Binance appears to be moving towards the creation of a universal ecosystem that combines innovative technologies, a high level of security and convenience, as well as active cooperation with global regulators. This will ultimately contribute to the growth of trust and expand opportunities for all participants in the cryptocurrency market.
Also read: Best Crypto Exchanges in 2025: Top Rating of Cryptocurrency Exchanges Operating in Russia
Conclusion
Binance currently remains the best choice for traders and investors due to its liquidity, low fees, and a wide range of tools. However, beginners may need some time to familiarize themselves with the platform.
Recommendation: If you’re looking for a reliable exchange with high volumes and low fees, Binance is an excellent option. For beginners, it’s helpful to start with Binance Academy and a demo account.
