About Binance

What is Binance?

​Binance, founded in 2017 by Changpeng Zhao, has rapidly grown into the world's largest cryptocurrency exchange by trading volume, serving over 260 million users across more than 180 countries. The platform offers a diverse selection of over 350 cryptocurrencies, enabling users to trade various digital assets on spot, futures and options markets. 

In November 2023, Richard Teng succeeded Zhao as CEO, steering the company towards enhanced regulatory compliance and transparency. Binance provides comprehensive trading options such as Spot, Margin, and Futures markets, alongside options for passive income through Binance Earn, staking, lending, and token launches on Binance Launchpad. 

Binance Futures Fee Schedule

Binance Futures offers a structured fee schedule based on trading activity and Binance Coin (BNB) holdings. Regular users trading less than $15 million within 30 days or holding any amount of BNB are charged a maker fee of 0.02% and a taker fee of 0.05%. 

As traders progress through Binance's VIP tiers, fees steadily decrease. For example, at the highest level, VIP 9, traders with over $25 billion in monthly volume and at least 5,500 BNB enjoy zero maker fees and reduced taker fees of 0.017%. Additionally, users opting to pay with BNB receive a further 10% discount, enhancing savings for active traders.

Binance Regulation & Licensing Explained

Binance holds a diverse range of regulatory licenses worldwide, reflecting its global compliance efforts. These include AMF (France), OAM (Italy), FIU (Lithuania), Bank of Spain (Spain), Polish Tax Administration (Poland), Swedish FSA (Sweden), AFSA (Kazakhstan), FSRA (Abu Dhabi), CBB (Bahrain), VARA (Dubai), AUSTRAC (Australia), FIU-IND (India), Bappebti (Indonesia), JFSA (Japan), FSP (New Zealand), SEC (Thailand), SAT (Mexico), CNAD/BCR (El Salvador), CNV (Argentina), Brazilian Central Bank (Brazil), FSCA (South Africa), and FIU (Seychelles).

Where is Binance Available?

Binance offers its services to over 160 countries and supports 44 languages on its interface. There are a total of 8 countries on the Binance restricted countries list, which includes politically unstable countries like North Korea.

Is Binance Safe and Legit?

Binance employs rigorous security protocols across its platform. User assets are primarily secured offline in cold storage, safeguarding them from potential online threats. The exchange maintains real-time monitoring systems that detect and respond swiftly to suspicious activities such as unusual withdrawals or login attempts, triggering immediate account protection measures. 

Binance also uses advanced encryption to protect user data, including KYC details, both in transit and at rest. Additional protective measures involve multi-factor authentication methods, strict access controls like IP and wallet address whitelisting, and frequent security notifications to alert users of any account anomalies. 

Binance further demonstrates its transparency and accountability through its Proof of Reserves system, enabling users to independently verify that assets are held at a minimum 1:1 ratio, reinforced by third-party audits using Merkle trees and zk-SNARK technology.