Binance
Binance is a centralised crypto exchange founded in 2017 by Changpeng Zhao, now run under Abu Dhabi (ADGM) entities regulated by the FSRA. It offers spot, margin, futures, options, earn products and P2P. Regular users pay 0.10% spot maker and taker (0.075% when paying fees in BNB) and 0.02%/0.05% on USDT-margined futures. It does not serve the US, Canada or the Netherlands; Binance.US is a separate company.
Cost: Spot (including margin, Convert, copy trading and bots volume): regular users pay 0.100% maker and 0.100% taker, or 0.075% each when fees are paid in BNB (25% off). USDC spot pairs charge 0.095% taker. VIP 1 starts at $1M 30-day volume and 5 BNB, and rates fall to 0.011% maker and 0.023% taker at VIP 9. USDT-margined futures: 0.0200% maker and 0.0500% taker for regular users, 10% off with BNB. Withdrawals carry a flat per-network fee; deposits are free. The round trip shown is 2 x the regular spot taker rate. A $1,000 buy-and-sell costs about $2.00 in Binance fees.
Sign-up perk: Referral Lite: trading fee rebate vouchers worth up to $1,100 (up to $100 after buying more than $50 of crypto and up to $1,000 after trading more than $100 via Spot or Convert, both within 14 days). Referral Pro: a fee rebate if the referrer chooses to share part of their commission.
Checked 2026-10-27 · sources below- Round trip fee
- 0.2% buy + sell, platform fee
- $1,000 buy + sell
- $2.00 before network + pool fees
- Fees paid, 30d
- — not tracked by DefiLlama
- US availability
- Not available UK: not available · EU: not available
More on Binance: Is it legit? · Referral code · Fees · Alternatives · US alternatives
Quick answers
- Can I use Binance in the US? No. Binance is not available to users in the United States.
- Does Binance require KYC? Yes. Binance requires identity verification (KYC).
- Does Binance have a mobile app? Yes. Binance has both an iOS app and an Android app.
- Is Binance custodial? Who holds your funds? Yes. Binance is custodial: the venue holds your funds on your behalf.
- Why can't I withdraw from Binance? Crypto is withdrawn on-chain from the Spot and Funding wallets on the Withdraw page (in the app: Assets, Spot, Send, then Withdraw Crypto). You pick the network, see the network fee and the amount you will receive, and confirm with a passkey or 2FA. Binance does not charge deposit fees. Binance documents 5 reasons a withdrawal can be delayed or held, listed below.
- Custody
- Custodial
- KYC
- required
- Platforms
- web, ios, android, desktop
- Launched
- 2017-07
Best for: Traders outside the US, Canada, the Netherlands, the UK and the EU who want a large centralised exchange with low base spot and futures fees and a BNB fee discount.
Binance fees
| Fee | Type | Rate | Applies to | Note |
|---|---|---|---|---|
| Spot taker fee (regular user) | platform | 0.1% | Buy and sell | 0.075% when paying fees with BNB (25% off). |
| Spot maker fee (regular user) | platform | 0.1% | Buy and sell | 0.075% when paying fees with BNB; falls to 0.090% at VIP 1. |
| USDC spot pairs taker fee (regular user) | platform | 0.095% | Buy and sell | Maker is the standard rate; taker 0.07125% with the BNB discount. |
| USDT-margined futures taker fee (regular user) | platform | 0.05% | Buy and sell | 0.0450% with the BNB 10% discount. USDC and USD1 contracts list 0.0000% maker and 0.0400% taker. |
| USDT-margined futures maker fee (regular user) | platform | 0.02% | Buy and sell | 0.0180% with the BNB 10% discount. |
| Withdrawal fee | network | — | Flat fee per withdrawal that varies by coin and network and can change without notice. |
| Trade size | Binance fee, buy + sell |
|---|---|
| $100 | $0.20 |
| $1,000 | $2.00 |
| $10,000 | $20.00 |
Fee tiers
| Tier | Rate | Requirement |
|---|---|---|
| Regular User | 0.1% | default; under $1M 30-day spot volume; spot maker/taker 0.100%/0.100%; futures 0.0200%/0.0500% |
| VIP 1 | 0.1% | $1M 30-day spot volume and 5 BNB; spot maker/taker 0.090%/0.100% |
| VIP 2 | 0.1% | $5M and 25 BNB; spot maker/taker 0.080%/0.100% |
| VIP 3 | 0.06% | $20M and 100 BNB; spot maker/taker 0.040%/0.060% |
| VIP 4 | 0.052% | $75M and 500 BNB; spot maker/taker 0.040%/0.052% |
| VIP 5 | 0.031% | $150M and 1,000 BNB; spot maker/taker 0.025%/0.031% |
| VIP 6 | 0.029% | $400M and 1,750 BNB; spot maker/taker 0.020%/0.029% |
| VIP 7 | 0.028% | $800M and 3,000 BNB; spot maker/taker 0.019%/0.028% |
| VIP 8 | 0.025% | $2B and 4,500 BNB; spot maker/taker 0.016%/0.025% |
| VIP 9 | 0.023% | $4B and 5,500 BNB; spot maker/taker 0.011%/0.023% |
Perps: taker 0.05%, maker 0.02% — USDT-margined futures, regular user. VIP 1 needs $5M 30-day futures volume and 5 BNB; rates fall with VIP level. Binance's fee page also lists a promotion giving regular and VIP 1-9 users 0 maker fee and up to 50% off taker fees on U-margined perpetuals during the promotion period.
Platform fees only. On-chain network/priority fees, pool (LP) fees and price impact are extra and vary by trade.
Is Binance legit?
Exchange balances are held by Binance. Under the current Terms of Use, custody is provided by Nest Clearing and Custody Limited, an FSRA-regulated ADGM entity, and assets may be held in jurisdictions outside the ADGM. Binance publishes a proof-of-reserves page and says its SAFU emergency fund held 15,000 BTC as of February 2026. The self-custody Binance Wallet is a separate product.
Backers: MGX (Abu Dhabi) ($2,000,000,000), 2025-03.
Incidents on record
- 2026-06-24: MiCA application withdrawn; EU services restricted. Binance withdrew its MiCA licence application with Greece's HCMC and said it would seek authorisation in another EU member state. CoinDesk reported that EU users were told Binance could no longer accept new registrations and would restrict services from July 1, 2026; Binance said assets remain accessible. Source
- 2025-10-23: Founder Changpeng Zhao pardoned. US President Trump pardoned Binance founder Changpeng Zhao, who had served four months in prison in 2024 after pleading guilty to failing to maintain an effective anti-money laundering program. Source
- 2023-11-21: US guilty plea and $4.3B resolution. Binance pleaded guilty to Bank Secrecy Act, unlicensed money transmitting and sanctions (IEEPA) violations and agreed to a total financial penalty of $4,316,126,163 plus a three-year independent compliance monitor, coordinated with the CFTC, FinCEN and OFAC. Changpeng Zhao also pleaded guilty and resigned as CEO. Source
- 2022-04: Dutch central bank fine. De Nederlandsche Bank fined Binance EUR 3.3M for offering crypto services in the Netherlands without registration. The Netherlands is on Binance's current List of Prohibited Countries. Source
- 2019-05-07: 7,000 BTC stolen from hot wallet. Binance said hackers stole more than 7,000 bitcoin, worth over $40M at the time, in a large-scale security breach. It said it would cover the incident in full and no user funds would be affected. Source
The full "is Binance legit?" check →
Where Binance is available
| Region | Status |
|---|---|
| United States | Not available |
| United Kingdom | Not available |
| European Union | Not available |
Binance's List of Prohibited Countries (updated 2026-01-05) bars anyone located in, resident of, a citizen of, or operating in the United States, plus residents of Canada, the Netherlands, Cuba, North Korea, Iran, Crimea and the so-called Donetsk and Luhansk People's Republics. Binance.US is a separate company (BAM Trading Services Inc.) with its own terms and its own list of restricted US states. The UK is not on the prohibited list, but Binance stopped onboarding new UK users in 2023 after the FCA's financial-promotion rule changes; as of August 2026 it was reported to be planning an FCA application under the new UK regime. In the EU, Binance withdrew its MiCA application in Greece in June 2026 and told EU users it would stop accepting new registrations and restrict services from July 1, 2026, while keeping assets accessible. The Terms forbid using a VPN to get around restrictions. (source)
We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.
Pros and cons
Pros
- Base spot fees are 0.10% maker and taker, cut to 0.075% when paying fees in BNB.
- USDT-margined futures cost 0.02% maker and 0.05% taker at the regular tier.
- Spot, margin, futures, options, copy trading, bots and P2P are in one account.
- Publishes a proof-of-reserves page and says its SAFU fund held 15,000 BTC as of February 2026.
- Binance said it covered the 2019 loss of 7,000 BTC in full.
Cons
- Not available in the US, Canada or the Netherlands, closed to new UK users since 2023, and restricted for EU users since July 2026.
- Pleaded guilty in 2023 to US anti-money laundering and sanctions violations and agreed to pay about $4.3B.
- Custodial exchange with mandatory identity verification before any service.
- Withdrawal fees are set per network and can change without notice.
Features
spot tradingmargin tradingUSDT- and COIN-margined futuresoptionsTradFi futuresstock tradingConvertcopy tradingtrading botsP2P tradingearn productsLaunchpoolBNB fee discountVIP programproof of reservesdesktop app
Alternatives to Binance
Bybit
Derivatives-focused traders outside the US, Canada and Singapore who want a large centralised exchange with perpetuals, options and copy trading.
0.2%Round trip
OKX
Traders outside the US who want a large centralised exchange with low base spot and futures fees, and US residents (except New York) who want spot trading through OKX US.
0.2%Round trip
Kraken
Traders in the US (outside New York and Maine), UK or EEA who want a long-running regulated exchange and will use Kraken Pro limit orders rather than the 1% instant-buy flow.
1.6%Round trip
Coinbase Advanced
Active traders in the US, UK or EU who want an order book with no spread and tiered fees, from the same account as regular Coinbase.
1.8%Round trip
All Binance alternatives compared →
Head to head
Where Binance ranks
- #5 in Lowest-fee crypto trading appsof 10
- #8 in Best apps to buy meme coinsof 10
- #9 in Best memecoin platforms for beginnersof 10
Binance FAQ
Is Binance legit?
Binance has operated since 2017 and its global platform now runs under FSRA-regulated Abu Dhabi entities. In 2023 it pleaded guilty to US anti-money laundering and sanctions violations and agreed to pay about $4.3B. It lost 7,000 BTC in a 2019 hack and said it covered the loss in full.
Can I use Binance in the US?
No. Binance's List of Prohibited Countries bars anyone located in, resident of, a citizen of, or operating in the United States. US users are served by Binance.US, a separate company (BAM Trading Services Inc.) with its own terms, fees and list of restricted states.
What are Binance fees?
Regular users pay 0.10% maker and taker on spot, or 0.075% when paying fees with BNB. USDT-margined futures cost 0.02% maker and 0.05% taker, 10% less with BNB. Rates fall with VIP level, down to 0.011%/0.023% on spot at VIP 9. Withdrawals carry a flat per-network fee; deposits are free.
Can I use Binance in the UK or EU?
Not as a new user. Binance stopped onboarding new UK users in 2023 after FCA rule changes. In June 2026 it withdrew its MiCA application in Greece and told EU users it would stop new registrations and restrict services from July 1, 2026, while keeping assets accessible.
What is the difference between Binance and Binance Wallet?
Binance is the custodial exchange, where Binance holds your balances. Binance Wallet is a self-custody wallet inside the Binance app for on-chain swaps and tokens. Withdrawals from the exchange to any wallet carry a flat per-network fee.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Binance - Spot and USDS-M futures fee schedule, VIP levels and BNB discount — checked 2026-10-27
- Binance - Crypto deposit and withdrawal fees and minimums — checked 2026-10-27
- Binance Terms of Use (ADGM entities, effective 2026-07-21): eligibility, identity verification, withdrawals — checked 2026-10-27
- Binance - List of Prohibited Countries (updated 2026-01-05) — checked 2026-10-27
- Binance - FAQ on Referral Pro mode (commission tiers, binding rules) — checked 2026-10-27
- Binance - FAQ on Referral Lite mode (trading fee rebate vouchers) — checked 2026-10-27
- Binance - Introduction to the Binance Referral Program and advertising policy — checked 2026-10-27
- Binance - Affiliates Recall Program FAQ (referral link format, MiCA restriction) — checked 2026-10-27
- Binance - Referral page (Lite and Pro modes) — checked 2026-10-27
- Binance - How to deposit/withdraw cryptocurrency on Binance — checked 2026-10-27
- Binance - How to manage withdrawal settings (whitelist and withdrawal limits) — checked 2026-10-27
- Binance - FAQ on unsuccessful withdrawals — checked 2026-10-27
- Binance - Homepage (SAFU fund reserve as of February 2026) — checked 2026-10-27
- Binance blog - Important update for our European users (2026-06-24) — checked 2026-10-27
- CoinDesk - Binance tells EU users it will no longer provide services after failing to secure MiCA license — checked 2026-10-27
- The Cryptonomist - Binance FCA licence push targets UK return (2023 onboarding halt) — checked 2026-10-27
- Binance.US Terms of Use (BAM Trading Services Inc., restricted states) — checked 2026-10-27
- US DOJ - Binance and CEO plead guilty to federal charges in $4B resolution — checked 2026-10-27
- CNBC - Binance bitcoin hack: over $40 million of cryptocurrency stolen — checked 2026-10-27
- Wikipedia - Binance (founding, MGX investment, Dutch fine, Zhao pardon) — checked 2026-10-27