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Binance Review
Binance is a centralized cryptocurrency exchange, founded in 2017, based in Cayman Islands. It holds a CoinGecko Trust Score of 10/10 (rank #3). It processes about $5.33B in 24-hour trading volume across 1,369 trading pairs. The figures and safety notes below are informational — not financial advice or an endorsement.
What is Binance?
Binance is a centralized cryptocurrency exchange, launched in 2017 and associated with Cayman Islands. One of the world’s largest cryptocurrency exchanges by trading volume, offering a wide range of services including spot, futures, and staking options.
Top Binance markets by volume
| Pair | Price | 24h Volume | Trust |
|---|---|---|---|
| USDC/USDT | $0.999978 | $1.56B | — |
| BTC/USDT | $82,901 | $583.19M | — |
| ETH/USDT | $2,503 | $320.96M | — |
| NEAR/USDT | $5.28 | $136.27M | — |
| BTC/USDC | $82,823 | $108.32M | — |
| SOL/USDT | $110 | $97.32M | — |
| STRK/USDT | $0.102212 | $87.74M | — |
| MET/USDC | $0.417540 | $81.55M | — |
| ETH/USDC | $2,500 | $66.29M | — |
| ZEC/USDT | $1,223 | $62.6M | — |
| XRP/USDT | $1.40 | $51.95M | — |
| SUI/USDT | $1.11 | $49.89M | — |
Top trading pairs by 24-hour volume. Source: CoinGecko. Updated 11 Oct 2026.
How to start trading on Binance
Getting started on Binance follows the same broad steps as most centralized exchanges. Always confirm the current process on the platform itself, as requirements change by region and account tier.
- Create an account with your email or phone number and set a strong, unique password.
- Secure it immediately — enable two-factor authentication (2FA) before depositing any funds.
- Verify your identity (KYC) if prompted; most centralized exchanges require this to deposit fiat or raise limits.
- Deposit funds — by bank transfer, card, or by sending crypto from another wallet or exchange.
- Place your first trade using a market order (instant) or a limit order (at a price you set); consider spreading entries rather than buying all at once.
- Withdraw to self-custody — move any long-term holdings off Binance into a hardware or reputable software wallet you control.
Binance fees
Like most exchanges, Binance makes money primarily through trading fees — usually a small percentage of each trade, split into a maker fee (when you add liquidity with a limit order) and a taker fee (when you remove liquidity with a market order). These fees typically fall as your 30-day trading volume rises. On top of trading fees, watch for the spread (the gap between buy and sell prices), deposit and withdrawal fees, and network (gas) costs when moving crypto on-chain.
We deliberately do not quote a single fee figure for Binance: schedules change frequently and differ by asset, region, payment method and account tier. Before trading, review Binance's current fee schedule and calculate the all-in cost for the specific market and order type you plan to use.
Where is Binance available?
Binance is associated with Cayman Islands. Cryptocurrency exchanges operate under very different rules from country to country — some services (such as derivatives or specific tokens) are restricted or unavailable in certain regions, and a handful of jurisdictions ban crypto trading outright. Before opening an account, confirm that Binance legally serves your country, which features are available to you, and what tax-reporting obligations may apply where you live.
How Binance compares
A quick side-by-side with other tracked exchanges, by CoinGecko Trust Score, 24-hour volume and launch year:
| Exchange | Trust | 24h Volume | Since |
|---|---|---|---|
| Binance | 10 | $5.33B | 2017 |
| Coinbase Exchange | 10 | $947.98M | 2012 |
| Kraken | 10 | $615.8M | 2011 |
| OKX | 10 | $1.14B | 2017 |
| MEXC | 10 | $618.83M | 2018 |
Binance: strengths & things to weigh
Strengths
- High CoinGecko Trust Score (10/10), indicating credible reported liquidity.
- Deep liquidity ($5.33B daily volume), which usually means tighter spreads.
- Established operator, trading since 2017 — a multi-cycle track record.
- 507 listed coins across 1,369 markets.
Things to weigh
- Custodial: Binance holds your funds, so you are trusting the operator's security and solvency.
- Regulatory status and availability depend on your country; Binance is associated with Cayman Islands. Verify it legally serves your region.
- Fees, listings and features change frequently; always confirm current terms on the official site.
Is Binance safe? Fees & getting started
No cryptocurrency exchange is completely safe. Binance's CoinGecko Trust Score of 10/10 reflects liquidity and reported-volume quality, not solvency or regulatory standing. Because it is centralized, Binance holds your funds — enable two-factor authentication, and move long-term holdings to self-custody. On fees: exchange fee schedules (maker/taker, spreads, withdrawal costs) change frequently and vary by tier and region, so we don't quote a fixed number — check Binance's official fee page before trading.
Disclaimer. This review is informational, compiled from CoinGecko data — not an endorsement, paid placement, or financial advice. Verify all details on Binance's official site; your capital is at risk.
Binance FAQ
Is Binance safe?
Binance carries a CoinGecko Trust Score of 10/10, which reflects reported liquidity and market quality — not a guarantee of safety. As a centralized exchange it custodies your funds, so operator security and solvency matter. For larger holdings, self-custody in your own wallet is widely recommended.
What is Binance's Trust Score?
Binance has a CoinGecko Trust Score of 10/10, ranked #3 among tracked exchanges. Trust Score is CoinGecko's independent 0–10 rating combining reported vs estimated liquidity, order-book depth and web traffic. It is not a safety or regulatory rating.
Where is Binance based?
Binance is associated with Cayman Islands. Many crypto exchanges operate across multiple jurisdictions; availability and legal status vary by country.
What can you trade on Binance?
Binance lists around 507 cryptocurrencies across 1,369 trading pairs. See the top markets by volume in the table above.
Is Binance a CEX or a DEX?
Binance is a Centralized (CEX). A centralized exchange runs the order book and holds your funds.
Is Binance legit?
Binance is a exchange that has operated since 2017 and is tracked by CoinGecko with a Trust Score of 10/10, which reflects reported liquidity and market quality. "Legit" is not the same as "risk-free" — always verify current regulatory status in your country and never store more than you can afford to lose.
Does Binance require identity verification (KYC)?
Most centralized exchanges, including venues like Binance, require some level of identity verification (KYC) to deposit fiat, trade at higher limits or withdraw. Requirements vary by country and account tier — check Binance's current policy before signing up.
How do I withdraw from Binance?
On a centralized exchange you typically withdraw by selecting the asset, entering a destination wallet address (or bank details for fiat), and confirming via two-factor authentication. For long-term holdings, withdraw crypto to a self-custody wallet you control rather than leaving it on the exchange.
What can I trade Binance assets against?
Binance offers around 1,369 trading pairs — assets are usually quoted against major bases such as USDT, USDC, BTC or ETH. The most liquid Binance markets are listed in the table above.