A Guide to Binance: All You Need to Know About the World’s Largest Crypto Exchange

A Guide to Binance: All You Need to Know About the World’s Largest Crypto Exchange

With more than 150 million users, Binance is undoubtedly the World’s biggest crypto exchange. Besides trading, it offers other crypto-related services. This guide discusses all the aspects you need to know about Binance before you create an account.

Understanding Binance

CoinMarketCap ranks Binance as the top exchange, with a trust score of 9.8. The trading platform was founded in 2017 by Changpeng Zhao and He Yi. The former serves as CEO, while the latter is the company’s Chief Marketing Officer. The Binance advisory board is made up of well-known crypto stakeholders like Leslie Massdrop, Ibukun Awosika, and Bruno Bezard.

In terms of numbers and statistics, Binance lists 380 crypto assets and 1,610 trading pairs. Since the start of this year, the exchange has been averaging $4.3 billion in daily trading volume.

Binance Key Features and Offerings

As mentioned, Binance is not just a trading platform. It offers users access to other services, which we will discuss in this section.

AI Trading Robot

Here are the key offerings and features of Binance:

Crypto Conversions and Spot Trades

As a Binance user, you will access the platform’s spot market to place trades on various tokens. Moreover, you can use its “crypto convert” feature to exchange one digital currency for another.

Margin Trades

Do you enjoy trading on leverage? You can do that on Binance. The platform allows you to open leveraged trade positions using two options: Isolated-margin or Margin trading. Binance offers leverage of up to 10x.

Peer-to-Peer Trades

Binance has its P2P (Peer-to-Peer) platform, allowing users to trade directly with each other. There are seven crypto assets supported for P2P trading. Note that Binance does not charge you a trading fee for P2P trades.


If trading manually is overwhelmingly for you, you can automate your trades using the bots Binance offers. You can use them on both futures and spot markets.


As a futures trader, you can enjoy leverage of up to 120X on Binance. What’s more, the platform offers multiple cryptocurrencies for futures trading.

Binance Earn

Do you want to earn passively? Binance’s “Simple Earn” feature lets users stake their digital assets to earn yield.

Institutional Perks

Although most Binance users are retail investors, the exchange also serves institutional investors, giving them access to a wide range of advanced data analysis tools for evaluating the crypto market.

Asset Management Resources

Asset managers can trade seamlessly on Binance since the exchange provides services related to risk monitoring, order management, and many more.


Binance gives institutional investors access to its loan service. Moreover, the interest rates charged are competitive.

Binance Launchpad

Besides catering to investors and traders, Binance supports Web3 companies in launching their tokens through its launchpad feature. As of September 2023, the exchange has helped 68 crypto firms launch their digital currencies.

Access to DeFi

Through BNB Smart Smart Chain, Binance lets users access various decentralized finance protocols, like Linear Finance and Wombat, which are built on the blockchain.

Mining Pool

If you’re interested in mining the proof-of-work cryptocurrencies, Binance has a cloud mining interface that gives you access to several miners and seven algorithms.

How Safe is Binance?

After publishing its proof-of-reserves earlier this year, Binance is regarded as the most transparent crypto exchange. The report showed that most user funds were overcollateralized. Besides proof-of-reserves, Binance has adopted several measures to protect customer funds, including two-factor authentication, adoption of cold wallets for crypto storage, QR-based authorization, and restricted device access.

Binance is also regulated by several tier-1 authorities, so it’s unlikely the company will run with users’ money.

Binance Trading Fees

In Binance’s spot market, maker and taker fees range from 0.0012% to 0.1%, depending on the VIP level. On the other hand, USDT-M futures trading attracts a 0.04% fee for the taker and 0.02% for the maker.


The features discussed above make Binance a top crypto exchange. The platform’s dedication to operate in transparency will surely attract more users in the future.

Disclaimer: PrimeCryptoHub.com is committed to delivering premium content for cryptocurrency aficionados. Our platform serves as a hub for crypto businesses to amplify their visibility in the market. Be aware that the nature of cryptocurrencies and digital tokens is extremely fluctuating. We advise carrying out comprehensive analysis prior to investing. A portion of our articles might be contributed by guest authors or be sponsored, and the opinions expressed in them don’t always echo our stance. PrimeCryptoHub.com holds no liability for the accuracy, content quality, advertisements, products, or any additional materials found on our site.
Archie Lovell
About Author

Archie Lovell

Archie Lovell, a premier voice in crypto journalism, skillfully demystifies the intricate world of digital currencies. With a keen analytical eye and compelling narratives, Archie's writings delve deep, offering clarity amidst the complexities of blockchain. His expertise and style make him a trusted guide in the crypto space.

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