Binance
The world's largest exchange by volume. Deep liquidity, low fees, and the broadest asset selection available. Not available to U.S. users.
This content is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult a qualified professional for advice specific to your situation.
Regulatory Risk Notice
Binance has faced significant enforcement action from U.S. authorities. See the "Enforcement History" section below for details, dates, and source links. This does not constitute legal advice — verify the current status with official sources for your jurisdiction.
Best For
Experienced traders outside the US who want deep liquidity and low fees
Pros
- Lowest trading fees
- Largest asset selection
- Deep liquidity
- Advanced trading tools
Cons
- Not available in the US
- Complex interface for beginners
- Significant enforcement history (see below)
- Customer support inconsistency
Regulatory Status
Binance Holdings is headquartered in unclear jurisdiction. Obtained licenses in several countries (France, Dubai, Japan via local entities). Settled major U.S. criminal and civil charges in Nov 2023. The separate entity Binance.US operates under its own regulatory framework.
Regulatory status varies by jurisdiction and changes frequently. Always verify current licensing with your local regulator before depositing funds.
Enforcement History
Binance pleaded guilty to federal charges including BSA violations, sanctions evasion, and operating an unlicensed money transmitting business. Agreed to $4.3B in penalties. CEO Changpeng Zhao resigned and pleaded guilty personally.
Primary sourceSEC filed 13-count complaint against Binance, BAM Trading (Binance.US), and CZ alleging securities violations, commingling customer funds, and misleading investors. Case ongoing.
Primary sourceCFTC filed complaint alleging Binance operated an illegal derivatives exchange and evaded compliance requirements.
Primary sourceWhy This Trust Score Is Not Higher
The $4.3B DOJ settlement and guilty plea represent the largest crypto enforcement action in history. Former CEO pleaded guilty to BSA violations. While Binance continues to operate and has appointed new leadership, the severity of the enforcement history significantly impacts trust. Multiple ongoing legal proceedings remain unresolved.
Trust scores are calculated using our published scoring methodology. Score changes are documented in our corrections log.
Key Information
- Type
- centralized
- Maker Fee
- 0.10%
- Taker Fee
- 0.10%
- Proof of Reserves
- Yes
- Mobile App
- Yes
- Staking
- Available
Country Availability
Available in:
Not available in:
Availability can change without notice. Verify directly on the exchange's website for your specific country and region.