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Binance description
Binance is primarily a global cryptocurrency exchange platform used by millions worldwide. It allows users to buy, sell, and trade a large variety of cryptocurrencies, including popular ones like Bitcoin and Ethereum. Binance offers basic trading options like spot trading and more advanced options such as margin trading and futures trading. Beyond trading, Binance provides educational resources, ways to earn interest on your cryptocurrency holdings, and even a platform for engaging with NFTs.
Who is Binance best for
Binance is a cryptocurrency exchange platform ideal for both beginners and experienced traders. Users love the wide selection of cryptocurrencies, low fees, and user-friendly mobile app. However, some users have reported difficulties with account verification and customer support. Binance caters to a wide range of industries and company sizes.
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Best for small, medium, and enterprise businesses.
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Ideal for various industries, including finance, e-commerce, and more.
Binance features
| Supported Binance supports cryptocurrency deposits and withdrawals. |
| Supported Binance supports Ethereum trading. |
| Supported Binance supports Bitcoin trading. |
| Supported Binance offers various trading bots and API integration for automating trading strategies. |
| Supported Binance offers futures trading, including perpetual and USDⓈ-margined contracts. |
| Supported Binance offers copy trading for spot and futures markets. |
| Supported Binance supports margin trading with leverage up to 10x. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Ease of Implementation
Binance reviews
We've summarised 331 Binance reviews (Binance GetApp reviews, Binance Capterra reviews and Binance G2 reviews) and summarised the main points below.
- The Binance mobile app is praised for its ease of use and intuitive interface, even for beginners.
- Binance offers a wide selection of cryptocurrencies for trading, including popular and niche options.
- Low trading fees, especially when using their native BNB token, are a major advantage.
- The P2P marketplace allows for convenient and secure trading with other users, including fiat currency options.
- Account verification can be very difficult, with some users reporting failures and unhelpful support.
- Customer support is frequently criticized for slow response times and unhelpful automated replies.
- Binance.US users especially complain about disabled accounts and difficulty withdrawing funds.
- High minimum withdrawal limits for certain cryptocurrencies make it difficult to move smaller amounts.
Binance pricing
The commentary is based on 64 reviews from Binance Capterra reviews, Binance G2 reviews and Binance GetApp reviews.
Binance offers competitive trading fees, especially when using BNB. While some find the fees high without BNB, most users consider them reasonable. Several reviews mention low fees or affordable rates, contributing to a generally positive sentiment regarding Binance's pricing.
Users sentiment
See the Binance pricing page.
Binance alternatives
PayBitoProBetter for small teams with features like copy trading, trading bots, and white-label exchange solutions. Consider this Binance alternative if ease of use, transparent pricing, and reliable performance are important. It has significant website traffic growth momentum.Read more
PhemexLower rated for customer service, reliability, and ease of use. Has shrinking employee base which may indicate less momentum. Negative pricing sentiment.Read more
WhiteBITLess popular and growing slower than Binance. Users report issues with account suspensions and limited cash out options. Rated worse for customer service, ease of use, and reliability. Negative pricing sentiment.Read more
MagicBetter for delegating business tasks. A Binance competitor focused on providing virtual assistants. Ideal for executives and professionals needing help with various tasks. Provides more readily available customer support. Easier to implement.Read more
Google Cloud Source RepositoriesBetter for software development teams needing version control and code collaboration. Integrates seamlessly with the Google Cloud ecosystem. Not for cryptocurrency trading or investing. A Binance competitor for code management.Read more
Zengo WalletBetter for individuals focused on security and self-custody of crypto assets. Zengo Wallet offers keyless security using MPC, eliminating seed phrases. Website traffic is growing faster.Read more
Binance FAQ
What is Binance and what does Binance do?
Binance is a global cryptocurrency exchange enabling users to buy, sell, and trade various cryptocurrencies like Bitcoin and Ethereum. It offers spot trading, margin trading, futures trading, educational resources, and NFT engagement. While praised for its diverse offerings and low fees, users have reported difficulties with customer support and account verification.
How does Binance integrate with other tools?
Binance integrates with various trading bots and offers API access for automated trading strategies. It also supports copy trading for spot and futures markets, allowing users to follow experienced traders. Further integration details are limited.
What the main competitors of Binance?
Binance's main competitors include Coinbase, Kraken, KuCoin, and Bybit. These platforms offer similar services such as buying, selling, and trading various cryptocurrencies. They also provide additional features like staking, margin trading, and futures trading.
Is Binance legit?
Binance is a legitimate cryptocurrency exchange used globally. However, users have reported difficulties with account verification, customer support responsiveness, and high minimum withdrawal limits. Despite these issues, Binance remains popular due to its wide selection of cryptocurrencies, low fees, and user-friendly mobile app.
How much does Binance cost?
Binance's trading fees typically range from 0.02% to 0.10%, depending on trading volume and other factors. Some services, like deposits, are free, while others, like withdrawals, incur a small fee, which varies by cryptocurrency. For detailed product pricing, it's best to check their website.
Is Binance customer service good?
Binance customer service has mixed reviews. While some users praise the quick responses and helpful support, others have experienced significant delays, unhelpful automated replies, and difficulty resolving issues, especially with account access and withdrawals.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.