Binance

Binance is the world’s largest cryptocurrency exchange by 24-hour spot trading volume serving over 280 million registered users across 100+ countries as of 2026. Founded in July 2017 by Changpeng Zhao (CZ) and Yi He, the platform has grown from a startup into the most liquid venue in crypto, handling tens of billions of dollars in daily volume across spot, futures, options, and margin markets.

This page covers everything you need to know before signing up — current fees, products, security architecture, country availability, KYC requirements, and how Binance compares to alternatives like OKX, Bybit, MEXC, and Gate.io. We also share the current Binance referral code and the fee discount it unlocks for new accounts.

Referral code: CPA00WKB4MJ1 Benefit: Up to 10% off trading fees for qualifying activity Register on Binance →

What Is Binance? (TL;DR)

• Type: Centralized cryptocurrency exchange (CEX)
• Founded: July 14, 2017 by Changpeng Zhao & Yi He
• Current CEO: Richard Teng (since November 2023)
• Headquarters: No single global HQ; regulated entities in UAE, France, Bahrain, Kazakhstan, Italy, Spain, Japan, El Salvador, and others
• Native token: BNB (used for fee discounts, Launchpool staking, gas on BNB Chain)
• Key products: Spot, Margin, USDⓈ-M & COIN-M Futures, Options, Earn, Loans, P2P, Convert, Copy Trading, Trading Bots, NFT Marketplace
• Supported assets: 350+ cryptocurrencies, 1,400+ trading pairs
• Proof of Reserves: Published monthly using zk-SNARK technology
• Insurance fund: SAFU (Secure Asset Fund for Users), reserves exceed $1 billion

Pros and Cons

Pros:

• Deepest liquidity in crypto — tightest spreads across major pairs
• Among the lowest base fees of tier-1 exchanges (0.10% / 0.10% spot, 0.02% / 0.05% futures)
• Massive asset selection (350+ coins, 1,400+ pairs)
• Strong security track record: monthly Proof of Reserves and the $1B+ SAFU fund
• Full product suite: Earn, Launchpool, Loans, Copy Trading, Options, NFT
• Fast, reliable mobile app rated 4.6+ across App Store and Play Store
• BNB holders get meaningful fee discounts (up to 25% on spot)
• Regulated entities in 20+ jurisdictions

Cons:

• Not available to U.S. residents (must use the more limited Binance.US)
• Regulatory friction in several regions — product availability varies
• KYC mandatory for trading and withdrawals
• Interface can overwhelm first-time users due to product breadth
• Customer support routes through chatbots before reaching a human agent

Products Offered

1. Spot Trading

The largest spot order book in crypto. Market, limit, stop-limit, OCO, trailing-stop, and iceberg order types are supported. TradingView-style charts and full API access (REST, WebSocket, FIX) power both retail and institutional flow.

2. Margin Trading

Borrow up to 10× against collateral for spot trades. Cross and isolated margin modes are both available, with interest accruing hourly.

3. Futures (USDⓈ-M & COIN-M)

Perpetual and quarterly contracts with up to 125× leverage on select pairs. USDⓈ-M futures settle in USDT/USDC; COIN-M settle in the underlying coin. Funding rates refresh every 8 hours.

4. Options

European-style options on BTC, ETH, and selected altcoins. Active maker incentive programs periodically reduce fees to zero or rebate levels.

5. Binance Earn

Flexible and locked savings, staking (including ETH staking via WBETH), dual investment, and DeFi-linked yield products. Launchpool lets you stake BNB, FDUSD, or USDC to farm new tokens before they list on spot.

6. P2P and Convert

• P2P: Buy/sell crypto in 100+ local currencies using 700+ payment methods, zero platform fee for the taker
• Convert: Swap any supported pair instantly at a locked rate, no order book

7. Loans

Flexible and fixed-term crypto loans using crypto as collateral. Over 100 supported collateral assets.

8. Copy Trading & Trading Bots

Copy verified futures traders with configurable position sizing. Built-in spot grid, futures grid, rebalancing, and DCA bots — no external scripts required.

9. NFT Marketplace and Binance Pay

Multi-chain NFT marketplace covering Ethereum, BNB Chain, and Polygon. Binance Pay enables zero-fee crypto transfers between Binance users in 150+ currencies.

Binance Fees (2026)

Binance publishes some of the most competitive base fees among top-five exchanges. All rates below are for VIP 0 (the default tier for new accounts).

Spot Trading Fees

Registering with referral code CPA00WKB4MJ can add up to an additional 10% fee rebate on top of the BNB discount for qualifying trades.

Futures Fees (USDⓈ-M Perpetuals)

VIP Tier Thresholds (30-day volume)

Fee schedules are updated periodically — always verify your account’s live fee page before placing size.

Security & Safety

Binance’s security architecture combines cold storage, real-time monitoring, and user-side controls:

• Proof of Reserves (PoR): Monthly attestation covering 30+ assets using Merkle Tree and zk-SNARK verification, so users can cryptographically confirm their balances are included in reserves.
• SAFU (Secure Asset Fund for Users): Insurance fund seeded from 10% of trading fees; reserves currently exceed $1 billion.
• Cold Storage: Majority of user assets held in offline multi-sig cold wallets.
• Account Security: 2FA (Google Authenticator, Passkey, YubiKey, SMS), withdrawal address whitelisting, anti-phishing codes, device management, API key IP restrictions, and session timeouts.
• Risk Controls: AI-based anomaly detection on withdrawals and logins; mandatory email/2FA confirmation for new devices and unusual withdrawal patterns.
• Bug Bounty: Public program through HackerOne with rewards up to $10 million for critical vulnerabilities.

How to Register on Binance (Step-by-Step)

1. Open the registration page with the referral code pre-applied: binance.com/register?ref=CPA00WKB4MJ. Manually entering code CPA00WKB4MJ during signup has the same effect and activates the fee discount.
2. Choose your signup method — email, phone number, Apple ID, or Google account.
3. Verify your email or phone with the 6-digit code sent to your inbox or device.
4. Complete KYC (Identity Verification) — open Profile → Identification. You’ll need a government-issued ID (passport, ID card, or driver’s license) and a live selfie. Basic verification usually finishes in under 15 minutes.
5. Enable 2FA immediately — before depositing any funds, activate Google Authenticator and a withdrawal address whitelist in Security → 2FA.
6. Deposit funds — use crypto transfer, bank transfer (SEPA, SWIFT, Faster Payments), card, or the P2P marketplace for local fiat.
7. Start trading. Review your live fee schedule at Wallet → Fee Rate to confirm the referral discount is applied.

Deposit and Withdrawal Methods

Crypto Networks: 100+ blockchain networks supported, including Bitcoin, Ethereum, BNB Chain, Solana, Polygon, Arbitrum, Optimism, Base, TON, Tron, Avalanche, and more. Most network fees are passed through without markup; some stablecoin networks offer zero-fee withdrawals during promotions.

Fiat Methods:

• Bank transfer: SEPA (EUR, free), SWIFT (USD, low flat fee), Faster Payments (GBP), plus local rails in Turkey, Argentina, Brazil, Ukraine, and others
• Cards: Visa and Mastercard debit/credit in 60+ fiat currencies (card fee typically 1.8–3.5%, set by the issuer)
• P2P: 700+ payment methods across 100+ currencies, zero platform fee
• Third-party providers: Simplex, MoonPay, Mercuryo for instant card purchases when direct card rails are unavailable
• Binance Pay: Instant, free crypto transfers between Binance users

BNB: The Native Token

BNB powers the Binance ecosystem. Holding it gives you:

• 25% off spot trading fees (auto-deducts when “Pay fees with BNB” is enabled)
• 10% off USDⓈ-M futures fees
• Launchpool and Launchpad access — stake BNB to earn new tokens before they list
• Gas on BNB Chain — one of the largest EVM chains by daily transactions, fees paid in BNB
• VIP tier qualification — upper tiers require minimum BNB holdings
• Loan collateral — one of the lowest loan-to-value ratios and rates

BNB supply is deflationary: Binance runs a quarterly auto-burn mechanism until total supply reaches 100 million tokens.

Binance Mobile App

Available on iOS (App Store) and Android (Google Play and direct APK). The app supports full trading functionality including futures, options, P2P, Earn, and Convert. Features include biometric login (Face ID / fingerprint), push notifications for price alerts and order fills, and embedded TradingView charts. Rated 4.6+ across both stores with 50+ million downloads combined.

A Lite Mode is available for users who want a simplified “buy / sell / earn” interface without the full trading UI.

Country Availability

Binance operates in 100+ countries including most of Europe, Latin America, Southeast Asia, the Middle East, and Africa. Regulated entities are live in the UAE, Bahrain, Kazakhstan, France, Italy, Spain, Japan, El Salvador, and other jurisdictions.

Restrictions apply in:

• United States — residents must use Binance.US, a separate platform with fewer tokens and no futures
• Mainland China — full restriction
• United Kingdom — new customer onboarding and several products paused or limited under FCA guidance
• Canada — Binance withdrew from the market; existing users only
• Netherlands — Binance withdrew; existing users migrated to other platforms
• Other jurisdictions may have partial product restrictions

Always check Binance’s official Terms of Use → List of Prohibited Jurisdictions before signing up.

KYC Verification Tiers

Individual country limits may override these defaults. Institutional accounts have a separate onboarding flow with dedicated compliance review.

Customer Support

• 24/7 Live Chat in 20+ languages (access via the “?” icon in your account)
• Email ticket system for issues requiring documentation
• Binance Support on X/Twitter (@BinanceHelpDesk) for public visibility cases
• Help Center with 3,000+ articles covering common issues
• Phishing reports via a dedicated in-app channel

Typical response time for live chat during peak hours is 5–30 minutes.

Binance vs Major Competitors

Binance wins on liquidity, regulatory footprint, and product depth. MEXC wins on listings breadth and ultra-low fees. OKX and Bybit offer competitive alternatives for futures-focused traders.

Frequently Asked Questions

Is Binance safe to use? Yes. Binance has been operating since 2017, publishes a monthly zk-SNARK Proof of Reserves, maintains the $1B+ SAFU insurance fund, and holds regulatory licenses in 20+ jurisdictions. Users should still enable 2FA, a withdrawal address whitelist, and an anti-phishing code for best security hygiene.

What is the current Binance referral code? The active referral code is CPA00WKB4MJ. Entering it during registration unlocks up to a 10% fee rebate on qualifying trades.

How much does Binance charge in fees? Spot trading is 0.10% maker/taker at VIP 0, dropping to 0.075% when fees are paid with BNB. USDⓈ-M futures are 0.02% maker / 0.05% taker at VIP 0, dropping by an additional 10% with BNB.

Can I use Binance in the United States? No. U.S. residents must use Binance.US, a separate platform with fewer supported assets and no futures products.

What is the minimum deposit on Binance? There’s no platform-wide minimum deposit — you can deposit any amount of crypto. Bank and card deposits may have minimums set by the payment provider (typically $10–$15 USD equivalent).

Is KYC mandatory on Binance? Yes. Since 2021, Binance requires identity verification for all trading and withdrawal activity. Unverified accounts can receive deposits but cannot trade or withdraw.

How long does Binance KYC take? Basic verification is typically completed in under 15 minutes. Higher tiers that require proof of address can take 1–3 business days.

Does Binance support staking? Yes, via Binance Earn. Options include ETH staking (WBETH), locked and flexible staking for 100+ coins, and DeFi-linked products.

What is BNB and do I need it to trade on Binance? BNB is Binance’s native token. It isn’t required, but holding it and enabling “Pay fees with BNB” grants a 25% discount on spot fees and 10% on USDⓈ-M futures. BNB is also the gas token on BNB Chain.

Can I trade futures on Binance without KYC? No. Futures trading specifically requires identity verification due to regulatory requirements.

How do I withdraw fiat from Binance? Via bank transfer (SEPA, SWIFT, local rails), debit card (in supported regions), or by selling crypto P2P for local currency.

Is there a Binance demo account? Yes. Binance offers a Futures Testnet with paper trading. Spot has no testnet, but minimum order sizes are very low ($1–$5 depending on the pair).

What happens if Binance gets hacked? The SAFU insurance fund covers user losses from exchange-side security incidents. Binance famously reimbursed users in full after the 2019 incident and continues to grow the SAFU reserve.

Final Verdict

Binance remains the default on-ramp for most of the global crypto market in 2026. Its combination of the deepest liquidity, among the lowest base fees, the widest product suite, and monthly Proof of Reserves makes it a default choice for traders who want everything on a single platform. The main tradeoffs are regulatory complexity in a few regions and a learning curve for new users due to product breadth.

If you’re opening your first account, register with referral code CPA00WKB4MJ to lock in up to a 10% fee rebate from day one.

Register on Binance → Get the fee discount

• Brand: Binance • Founded: 2017 (by Changpeng Zhao & Yi He) • CEO: Richard Teng (since Nov 2023).
• Products: Spot, Margin (up to 10×), USDⓈ-M & COIN-M Futures (up to 125× on select pairs), Options, P2P/Convert, Simple Earn, Launchpool/Launchpad, Loans, Copy Trading, Trading Bots.
• Native token: BNB — enables trading-fee discounts (25% on spot; 10% on futures when using BNB for fees).

Fees

Spot Trading

• Base fee: 0.10% maker / 0.10% taker at VIP 0. Holding BNB and enabling “Pay with BNB” reduces this to 0.075% / 0.075%. Higher VIP tiers reduce further.

Derivatives (Futures/Perpetuals)

• USDⓈ-M & COIN-M (VIP 0): typically 0.02% maker / 0.05% taker. Paying fees with BNB grants an additional 10% discount on USDⓈ-M futures. VIP tiers and periodic programs can lower costs further. Always check the live fee table in your account.

Options

• Options have a separate schedule and periodic promotions (incl. maker programs). See Binance’s Options fee page for current rates.

Note: Fees, discounts, and promotions change—verify inside your Binance account or the public fee pages before trading.

KYC & Limits

Binance requires identity verification to access the full suite (trading/withdrawals/fiat rails). Verification tiers and any daily withdrawal caps vary by region and account status—complete KYC in Profile → Identification and check the Verification & Limits panel for your account.

Availability & Restrictions

Service availability varies by jurisdiction. Binance’s Terms reference a maintained List of Prohibited Countries, and some regions receive a limited product set. Users in the United States must use the separate Binance.US platform, which has different listings and fees. Always confirm the latest regional availability page before signing up.