Binance review [2025] - The home of altcoins

Choosing the right exchange to trade altcoin can be hard. There are so many exchanges available that it is hard to make the right decision. Hopefully, in this Binance review, we will help you to decide if Binance is the right exchange for you.

Binance, founded by Changpeng Zhao in 2017, is one of the biggest cryptocurrency exchanges in terms of trading volume. Binance reports that they do over $1 billion in trading volume per day - these are some impressive numbers. It is also estimated that Binance currently has around 20 million users registered on their exchange.

The main reason why Binance became so popular is because of its large number of cryptocurrencies available on the trading platform. If you are looking to swim in the deeper waters and discover some interesting altcoins, then Binance is the place to go to.

While Binance does limit your withdrawals at first to 2 BTC per day, which is sufficient enough for most people. You can easily increase those limits by providing some documents and verifying your identity. After the identification process, your limits will rise to 100 BTC per day.

Furthermore, what is amazing about Binance is the fact that their website is completely multilingual. They have translated their whole website into 15 different languages to make it as easy as possible for anyone to use Binance.

Recently Binance also introduced a margin trading platform on its site. Binance allows you to use up to 125x leverage, which is so far the biggest number of leverage you can find on any website. To be honest, you would have to be crazy to use that high amount of leverage as I am sure you will be wiped out in seconds. Nevertheless, if you are someone interested in margin trading then Binance might be the exchange for you. Give it a try!

Binance’s user interface can be a bit confusing at first. Especially, if you have never traded on any other exchange before. Although if you have some experience with other exchanges, then you will feel right at home - everything works as you would expect.

Binance has both a mobile responsive website and mobile applications available for both iOS and Android devices. The mobile applications are quite simple and have the most basic features possible. You can buy and sell cryptocurrencies and you safely store them using your mobile application. Nothing fancy here.

Binance has one of the largest selection of cryptocurrencies available on its exchange. It has over 100 different cryptocurrencies available on its platform and that’s why it sometimes called “The Home of Altcoins”. Amongst these cryptocurrencies are: Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Cardano (ADA), Tron (TRX), IOTA, Litecoin (LTC) and many other well-known and trustworthy cryptocurrencies.

Binance’s trading platform mainly focuses on crypto - to - crypto trading. That means there are no USD or EUR or any other fiat currency pairs available. The closest thing you have to a fiat currency trading pair are the stable coin trading pairs (USDT, USDC, etc).

Recently Binance launched a “Fiat Gateway” service, which allows its customers to directly buy cryptocurrencies from them using a Credit or Debit card.

Unfortunately, the list of cryptocurrencies available on the “Fiat Gateway” service is not the greatest yet. The cryptocurrencies that you can buy directly from Binance using the Fiat Gateway are Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) as well as some stable coins - TUSD and PAX.

Fortunately, it is easy to buy a stable coin, such as TUSD and PAX, directly from Binance that you can exchange for a cryptocurrency of your choosing on their exchange.

Binance offers one of the best fee structures of all cryptocurrency exchanges. The fee per transaction starts out at 0.10% per transaction for both maker and taker orders and goes lower as you do more volume on Binance.

In addition to doing more volume on Binance, you can also lower your fees by buying and holding some of Binance’s own cryptocurrency - Binance Coin (BNB).

To see how doing more volume and holding Binance Coin affects your fees - click here.

Binance does not restrict its services from any countries, except for the United States. If you are a resident of the U.S. and wish to use Binance’s services, you should use Binance US instead.

Click here to go to Binance US.

Binance is a relatively new exchange, founded in 2017. So far I have not seen any serious complaints about Binance. I have been using them for over a year without any problems. I have always been able to withdraw my funds immediately.

Binance has been hacked a few times and both customer funds and customer data have been leaked, but so far Binance has decided to cover the losses themselves to avoid customers from losing money, which is definitely a good sign.

You can contact Binance’s customer support using two methods: e-mails and the live chat on their website.

Overall I would rate Binance’s customer support very good.

Personally, I have only used their live chat feature and I have never felt the need to use e-mail support at all. The live chat has always been able to help me immediately and the wait times to get to a real support agent are low.

Overall it is safe to say that if you are interested in trading altcoins then Binance is the best exchange for that. Not only do they have an amazing number of different trading pairs and cryptocurrencies available, but their reputation is also spotless and they are as trustworthy as an exchange can be.

The only downside when using Binance is that you cannot exchange your cryptocurrencies for fiat currencies (USD, EUR, etc), instead you have to go through the process of transferring them to another exchange that allows you to trade with fiat currency pairs.

If you are looking to exchange your fiat currency (USD, EUR, etc) for cryptocurrencies or vice-versa then perhaps Coinbase would be another option.