Binance
The world's largest cryptocurrency exchange by trading volume, offering spot, futures, and extensive token support.
About Binance
Binance is the undisputed global leader in cryptocurrency trading, founded in 2017 by Changpeng Zhao (CZ). With the highest trading volume in the industry—often 10x that of competitors—Binance offers unmatched liquidity, the lowest fees, and support for 600+ cryptocurrencies. The platform provides a comprehensive suite of crypto services including spot trading, futures, margin, staking, lending, savings, NFTs, and its own blockchain (BNB Chain). Binance serves over 180 million users worldwide and processes billions in daily trading volume. Despite regulatory challenges in various jurisdictions, Binance remains the go-to platform for serious traders and institutions.
History
Founded in July 2017 by Changpeng Zhao (CZ), Binance quickly rose to become the world's largest cryptocurrency exchange within 6 months. The company held a successful ICO for its native BNB token, raising $15 million. Despite regulatory pressure forcing the exchange to leave China in 2017 and relocate operations, Binance continued aggressive expansion. By 2021, Binance commanded 50%+ of global crypto trading volume. In 2023, CZ stepped down as CEO and paid a $4.3 billion settlement with US authorities, but the exchange continues operations globally under new leadership.
Key Milestones
- •2017: Founded by Changpeng Zhao (CZ), raised $15M via BNB ICO
- •2017: Launched exchange in July, became #1 by volume within 6 months
- •2018: Reached 10 million users
- •2019: Launched Binance Chain and DEX
- •2020: Launched Binance Smart Chain (now BNB Chain)
- •2021: Reached peak of 28.5 million daily users, $76B daily volume
- •2022: Launched Binance.US (separate entity for US customers)
- •2023: CZ settled with US DOJ for $4.3B, stepped down as CEO. Richard Teng appointed new CEO
- •2024: Obtained regulatory licenses in France, Italy, Dubai
- •2025: Reached 180 million registered users globally
Leadership
Changpeng Zhao (CZ) - Founder (stepped down as CEO 2023), Richard Teng - Current CEO
Fees
Trading Fees
Deposit Fees
Withdrawal Fees
Payment Methods
Fiat On-Ramp
Processing Times
Security & Trust
Insurance
SAFU Fund (Secure Asset Fund for Users) - 10% of all trading fees allocated. Currently holds $1B+ for emergency insurance.
Proof of Reserves
✓ PublishedSecurity Audits
- ✓Monthly Proof of Reserves audits (Merkle tree verification)
- ✓Periodic security audits by CertiK
- ✓ISO/IEC 27001:2013 certified
- ✓SOC 2 Type II certified
Cold Storage
95%+ of user funds stored in cold wallets with multi-sig protection
Security Incidents
- ⚠2019: $40M hot wallet hack (fully reimbursed from SAFU fund)
- ⚠2022: $570M BNB Chain bridge exploit (not Binance exchange itself)
- ⚠Multiple phishing attempts (not platform breaches)
Features
futures
Perpetual and quarterly futures with up to 125x leverage. Coin-M and USDT-M futures available.
margin
Cross and isolated margin trading with up to 10x leverage. Borrow USDT or crypto to trade.
staking
Flexible and locked staking for 100+ tokens. Earn 1-30% APY depending on token and lock period.
earn
Binance Earn - savings, DeFi staking, Launchpool, Liquid Swap. Auto-invest and dual investment products.
nft Marketplace
Binance NFT - trade NFTs with 1% fee. Integrated with major collections and gaming projects.
launchpad
Early access to new token launches. Commit BNB to receive allocation of new projects.
copy Trading
Follow top traders automatically. Copy their trades in real-time.
api
Full REST API and WebSocket. FIX API for institutions. One of the best-documented APIs in crypto.
💎 For Crypto Casino Players
Binance is excellent for buying cryptocurrency to use at online crypto casinos.
Best Tokens for Gambling
Withdrawal Speed to Casinos
1-5 minutes (usually instant). Fastest exchange for crypto casino deposits.
Pro Tips
Use P2P trading to buy crypto with local currency (zero fees, better rates). For casinos, USDT on TRC20 network = $1 fee and 1-minute speed. BNB (BEP20) also very fast and cheap. Avoid using Binance tracked addresses directly for gambling - use a middle wallet like MetaMask.
How To Use Binance
sign Up
verify K Y C
deposit Fiat
buy Crypto
withdraw To Casino
Pros & Cons
✓ Pros
- +Highest trading volume and liquidity globally (10x competitors)
- +Lowest fees in the industry - 0.1% spot (0.075% with BNB)
- +Supports 600+ cryptocurrencies and 2000+ trading pairs
- +Advanced trading features: spot, futures (125x leverage), margin, options
- +P2P trading with zero fees (buy crypto with bank transfer)
- +Binance Earn - flexible savings, staking, Launchpool, DeFi yields
- +Fastest withdrawals - usually instant
- +BNB utility token for fee discounts and ecosystem access
- +Excellent mobile app with full functionality
- +Binance Academy - free crypto education
- +Copy trading - follow top traders automatically
- +NFT marketplace integrated
- +Proof of Reserves published monthly
- +SAFU insurance fund ($1B+)
- +24/7 customer support (live chat)
- +Best for professional traders and high-volume users
✗ Cons
- -Regulatory uncertainty - banned in USA, UK, Singapore, Ontario
- -Must use Binance.US for American users (limited features, fewer tokens)
- -KYC required for withdrawals >2 BTC/day
- -UI can be overwhelming for beginners
- -Customer support quality varies (can be slow)
- -Past legal issues with US DOJ (CZ settlement)
- -Not available in all countries
- -Some regions face restrictions on fiat deposits
- -Account freezes can happen during compliance reviews
- -Centralized - users don't control private keys
- -Past security incidents (2019 hack, though reimbursed)
Frequently Asked Questions
Is Binance safe?
Generally yes, but with caveats. Binance has never lost user funds permanently (2019 hack was reimbursed from SAFU fund). They hold $1B+ insurance fund and 95% of assets in cold storage. However, regulatory issues mean risk of account freezes during compliance reviews. For large holdings, consider hardware wallet.
Can US users use Binance?
No. Binance.com is not available in the USA. American users must use Binance.US (separate company with fewer tokens and features). Some US users use VPNs but this violates ToS and risks account closure.
Why are Binance fees so low?
Binance operates at massive scale (180M users, billions in daily volume). High volume = thin margins = low fees for users. They also profit from Binance Coin (BNB), futures trading, and listing fees from new tokens.
Can I use Binance for crypto gambling?
Yes. Many crypto casino players use Binance to buy crypto. It's fast, cheap, and supports all major casino tokens. However, avoid sending directly from Binance to casino - use an intermediary wallet like MetaMask for privacy.
How long do Binance withdrawals take?
Usually 1-5 minutes, often instant. Binance has the fastest crypto withdrawals in the industry. For casinos, use USDT (TRC20) for $1 fees and 1-minute confirmation.
Supported Tokens
+8 more
Details
Regulations
- ✓Registered Virtual Asset Service Provider (VASP) in France (PSAN license)
- ✓Licensed by Financial Services Authority (FSA) in Abu Dhabi
- ✓Registered with Organismo de Supervisión de OAM in Spain
- ✓Approved by Italian OAM (Organismo Agenti e Mediatori)
- ✓Bahrain Central Bank regulated (Binance Bahrain)
- ✓Binance.US operates separately with FinCEN MSB license
- ✓Not available in: United States (use Binance.US), UK, Singapore, Ontario (Canada)
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