NewsletterBinance Exchange Review 2025 – Is It Worth The Hype?
As cryptocurrencies become more mainstream in 2025, we’re witnessing a rise in the number of exchanges that allow users to buy, sell, and hold their crypto assets. This makes it difficult for users to decide which crypto exchange to choose based on their specific requirements, since the underlying product offering is the same everywhere.
In this article, we’ll be reviewing Binance, the world’s largest crypto-exchange in terms of daily trading volume. To ensure Binance is the right choice for you, we’ll look into factors such as wallet security and safety features, listed tokens, fees, payment methods, and ease of use for beginners.
By the end, you’ll know exactly if Binance is the right choice for you or not.
What is Binance?
Binance Holdings Ltd., or Binance, was founded in 2017 by Changpeng Zhao, or CZ, a renowned software developer with prior experience developing high-frequency trading software. Binance works by connecting buyers and sellers through an electronic order book.
In 2025, Binance isn’t only the world’s biggest crypto exchange as measured by user count, that is around 280 million stretched globally, but also its daily trading volume, which is more than $217 billion. This means Binance holds over 40% of the market share among centralized crypto exchanges, a share expected to grow further as it increases compliance with authorities.
The primary reason for Binance’s success lies in its listing of 500+ cryptocurrencies and more than 1,500 trading pairs. In addition, it offers numerous crypto- and blockchain-related services, including basic to advanced trading, passive income through staking & yield farming, P2P trading (for users in countries where buying cryptocurrencies is illegal), an NFT marketplace, educational resources, and a platform for token launches.
What Makes Binance Different from Other Crypto Exchanges?
One of the major reasons for Binance’s success is its significantly lower trading fees: spot trading fees start at 0.10%. Users can further reduce these fees by paying in Binance Coin (BNB).
Another reason is Binance’s advanced trading tools and products, which include margin trading, futures, options, trading bots, and complex order types, as well as basic buy/sell functions. These advanced trading tools are further supported by high liquidity, allowing for instant trade execution.
While no platform is completely impervious, Binance is considered highly secure due to its advanced security features. These features include cold storage for most funds, multi-factor authentication (2FA), a “Secure Asset Fund for Users” to protect users in emergencies, withdrawal address whitelisting, anti-phishing code, and a Binance self-custody wallet.
Entrepreneurs and developers who are looking to grow their Web3 project can easily list their Initial Coin Offering (ICO) on Binance, giving them an easy crowdfunding platform option.
Trading Fees on Binance Exchange
Binance employs a highly competitive, tiered fee structure that is primarily determined by a user’s 30-day trading volume and their BNB balance. The standard spot trading fee begins at a low 0.1% for both makers and takers, but this rate is significantly reduced as traders achieve higher VIP levels through increased activity.
Crucially, Binance offers a standing discount for all users who elect to pay their trading fees using the native exchange coin, BNB (Build’N’Build), further minimizing costs.
Also, the exchange frequently runs promotions offering zero-fee trading on popular pairs, such as certain Bitcoin and stablecoin markets, making its fee model one of the most attractive in the industry for both casual and high-volume traders.
How to Trade on Binance?
One of the most crucial factors in Binance’s growth is the ease of using the platform. It only takes a few minutes for users to start trading. They can trade on the go with Binance’s app, or download a separate trading dashboard on their desktop or laptop.
These are the four easy steps for early beginners who want to make their first trade on Binance:
Step 1: Account Registration
You need to register for a Binance account. There are several options for registering. These include the Binance iOS/Android App, the Binance website, and the Binance Desktop Application for Windows/Mac devices.
Step 2: National Identity Verification
Users need to complete their identity verification by providing a photo of their government-issued ID and a selfie.
Step 3: Depositing Funds
Upon approval of their account, users can transfer funds from a different wallet to their Binance Wallet, or make a direct deposit in 50+ fiat currencies via bank transfers or bank cards. Binance also offers a peer-to-peer (P2P) marketplace in countries where bank deposits are banned.
Step 4: Making Your First Trade
Lastly, users can start exploring Binance’s versatile products, like spot trading, after receiving their first crypto.
What Are the Disadvantages of Using Binance?
Some of the disadvantages of using Binance are:
1. Complexity for Beginners
If you’re new to the world of cryptocurrencies and don’t know anything about trading, then Binance isn’t the easiest-to-use exchange. Many beginners find it challenging to navigate and understand the platform, largely because of too many features. Users become overwhelmed with Binance’s offerings.
2. Customer Service
Binance has one of the worst customer services out there, and it shows with its 1.4-star rating on Trustpilot. Customers say that their queries aren’t resolved on time, nor are the support agents helpful.
3. Security Issues
Binance has suffered two major security breaches: one in 2019, where hackers stole $40 million in BTC, and one in 2022, where hackers stole roughly $570 million.
Is It Safe to Hold Your Cryptocurrency in Binance?
The simple answer is yes. Binance is indeed one of the safest crypto exchanges that is out in the market right now. One of the reasons Binance is really secure is its bug bounty program, which rewards white-hat hackers for reporting any vulnerabilities they find. The platform is protected by several layers of security.
But despite its multi-layered protection, users need to be fully aware of the fact that unless their funds are placed in a hardware wallet, their crypto will remain vulnerable to potential attacks and scammers.
Is Binance Available in the USA?
No. The global Binance.com platform does not operate in the USA. Instead, the Binance US, a regulated US exchange version of the service, is available for American users, giving them access only to those Binance services that are legal and authorized in the USA.
It is important to note that Binance US has fewer features, higher fees, and a smaller selection of digital assets than Binance.com.
Is Binance Legit?
Due to its compliance with multiple jurisdictions worldwide, Binance is among the world’s most regulated crypto exchanges. Moreover, user funds are held 1:1 in a secure SAFU fund. Considering this, Binance is a legit and serious exchange out in the market right now.
However, no matter how legit an exchange is, it doesn’t mean it’s 100% immune to cyber and other criminal attacks. Scammers and hackers are always on the lookout to find whenever they can, and to be successful, all they need is one point of failure.
It’s also important to note that Binance is not immune to financial troubles that may arise due to mismanagement of funds.
Final Answer: Is Binance The Right Choice for You In 2025?
The simple answer is yes, you should use Binance as the exchange gives many good reasons to do so. However, be aware that Binance is more suited for experienced investors/traders who are looking for advanced trading options and plenty of analytics to back up their investment strategy.
The exchange is not recommended for beginners who are more concerned with convenience. It becomes easier with time and experience, but novice users do experience a learning curve. Apart from that, Binance, with its 600+ listed cryptocurrencies, low trading fees, rewards offerings, and presence in more than 180 countries, makes it an excellent choice for many users.
