Binance
score
Fees: ~0.1% spot maker/taker, lower with BNB
Binance suits active traders who prioritize liquidity, low fees and the widest asset selection. Its regulatory history and access restrictions are the main caveats, so verify availability and compliance in your country before signing up. Nothing here is financial advice.
What Binance Is
Binance is the world's largest cryptocurrency exchange by trading volume, launched in 2017 by Changpeng Zhao (CZ). It runs a global spot and derivatives marketplace alongside a sprawling ecosystem of products — futures, staking and savings ("Earn"), a launchpad for new tokens, and its own BNB token and chain. For most active traders it functions as a one-stop venue for nearly anything in crypto.
Where It Excels
This is where Binance earns its 8.8 overall. Liquidity and depth score a perfect 10: order books are the thickest in the market, so large orders fill with minimal slippage on virtually every major pair. Asset range also lands at 10, covering an enormous catalog of coins and products few rivals match. Fees score 9 — roughly 0.1% spot maker/taker, trimmed further with BNB or higher volume — and UX rates a solid 8.5, powerful if dense.
What It Costs
Binance is among the cheapest large venues to trade on. Standard spot fees sit around 0.1% for both maker and taker, and holding BNB to pay fees knocks that down further. Higher trading volume unlocks progressively lower tiers. For cost-sensitive, high-frequency traders, this fee schedule is a core part of the appeal.
The Main Caveat
Security and custody score a more modest 7.5, and the bigger asterisk is regulatory. Binance reached a roughly $4.3B settlement with U.S. authorities in 2023 and continues to face scrutiny in multiple jurisdictions. It is restricted or unavailable in several markets, and U.S. residents use the separate Binance.US entity. Verify that the platform is legally available to you before signing up.
Who It's For
Binance is built for active traders who prioritize deep liquidity, low costs and the broadest possible selection of assets and products. Beginners may find the interface overwhelming and should ease in gradually. Anyone considering it should first confirm access and compliance in their own country. None of this is financial advice.
Overall 8.8 / 10 — the weighted average of the criteria above. How we score →
- + Deepest liquidity and tightest spreads on virtually every major pair
- + Very low trading fees, further reduced by holding BNB
- + Enormous asset and product range (spot, futures, earn, launchpad)
- + SAFU insurance fund and published proof-of-reserves
- − $4.3B U.S. DOJ/regulatory settlement in 2023 and ongoing scrutiny
- − Restricted or banned in several jurisdictions, including U.S. mainland (Binance.US is separate)
- − Complex interface can overwhelm beginners
Is Binance safe?
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Binance maintains a SAFU insurance fund and publishes proof-of-reserves, and we score its security and custody 7.5 out of 10 — reasonable but not the highest here. No exchange is risk-free, so keep only what you actively trade on any platform and enable every available security feature.
What are Binance's fees?
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Spot trading runs about 0.1% for maker and taker, and paying fees with BNB or reaching higher volume tiers reduces that. We rate its fees 9/10, among the most competitive of any major exchange.
Is Binance available in the US?
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Binance's main global platform is not available to U.S. mainland residents, who instead use the separate Binance.US entity. Access is restricted in several other jurisdictions too, so check the rules where you live before registering.
Is Binance a good exchange?
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We rate it 8.8/10 overall, our top-scoring exchange, thanks to unbeatable liquidity, low fees and asset range. Its regulatory history and interface complexity are the main reasons it isn't higher.
What can you do on Binance?
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Beyond spot trading, Binance offers futures, staking and savings products, a token launchpad and its own BNB ecosystem — an enormous product range that scores a perfect 10 for breadth.