Binance
⭐ Trust Score: 10/10
🏆 Arbi.TEAM 10/10
📋 Basic information
📊 Trading statistics
📖 About exchange
Binance
World's largest crypto exchange by trading volume, founded by Changpeng Zhao
General Information
| Parameter | Value |
|---|---|
| Year Founded | 2017 |
| Country | Cayman Islands |
| Type | CEX |
| Trust Score | 10/10 |
| Global Rank | #1 |
| 24h Volume (BTC) | 115,185.94 |
| Listed Coins | 440 |
| Trading Pairs | 1413 |
| CEO | Richard Teng |
History
Binance was founded in 2017 by Changpeng Zhao (CZ), a former Blockchain.info developer and OKCoin co-founder. The name combines Binary and Finance.
In July 2017 Binance raised $15 million in 24 days through its BNB token ICO. Within a month of launch it became the world's largest exchange. By March 2018 the platform processed over $7.5 billion daily.
The May 2019 hack saw 7000 BTC stolen (about $40 million). Binance fully compensated all losses from the SAFU insurance fund, cementing SAFU as an industry security benchmark.
By 2021 Binance hit $1 billion in daily fee revenue with 100 million users. CZ stepped down in 2023; Richard Teng, former Abu Dhabi regulator, became CEO.
The platform evolved into a global ecosystem: BNB Chain blockchain, NFT marketplace, and Binance Labs with hundreds of portfolio investments.
Key Features
Liquidity
The deepest order book in the industry with razor-thin spreads even for low-volume altcoins. Orders execute in milliseconds with minimal slippage.
BNB Chain
Proprietary blockchain integrated with the exchange. BNB pays fees at 25% discount and powers DeFi protocols on the chain.
SAFU Fund
A $1 billion emergency fund built from trading fees. Assets stay in cold storage and cover extreme platform scenarios.
Mobile App
Full-featured app supporting spot, margin, futures, P2P marketplace, and advanced charting tools for on-the-go trading.
Binance Academy
Free educational platform with courses on trading, blockchain, and DeFi. Certification programs help users understand market mechanics.
P2P Marketplace
Direct peer-to-peer trading with hundreds of payment methods across 100+ fiat currencies.
Trading Fees
| Market | Maker | Taker |
|---|---|---|
| Spot | 0.10% | 0.10% |
| Futures | 0.02% | 0.04% |
| Margin | 0.10% | 0.10% |
| P2P | 0% | 0% |
Referral program: 40% discount for invitee, up to 40% commission for referrer. BNB fee payment adds 25% discount. VIP tiers progressively lower rates.
Security
Geography & KYC
Availability: 180+ countries KYC: Mandatory — basic verification for withdrawals > 0.06 BTC Banned in: USA, Ontario, Japan, Singapore
Pros & Cons
✅ Pros
- Deepest liquidity and tightest spreads
- Wide coin and pair selection
- Low fees with BNB discount
- Comprehensive ecosystem
- Strong SAFU insurance fund
❌ Cons
- Regulatory pressure in several jurisdictions
- Unavailable for US residents
- Technical outages during volatility
- Steep learning curve for beginners
User Reviews
Trustpilot: 25,000+ reviews at 4.1 rating. Users praise vast coin selection and fast withdrawals. Complaints center on KYC-related account freezes. Reddit traders discuss strategies but report withdrawal delays during peak times.
Arbitrage suitability assessment — will be added later
Personal user experience — will be added later