Exchange Review 2026
Binance
★★★★★
4.3
/ 5 CryptoBear score
The largest crypto exchange by volume, with low 0.10% base fees and hundreds of assets, now recovering from a record $6.3 billion hot-wallet hack in October 2026.
Spot fees
0.10% maker / 0.10% taker
Best for
Low Fees
Key features
Huge coin selection, deep liquidity, staking, futures
Availability
Global (not available to US residents; US users use Binance.US)
Pros
- Low 0.10% base spot fees, with further discounts for paying fees in BNB
- Very large selection of coins and trading pairs
- Deep liquidity and tight spreads
- Staking, savings, futures and copy trading in one app
Cons
- Suffered the largest crypto hack on record (about $6.3 billion) in October 2026
- Not available to US residents on the main platform
- Regulatory scrutiny in several countries
- The number of features can overwhelm beginners
Binance review: our verdict
Binance is the largest centralized crypto exchange by trading volume and still offers some of the lowest fees and the widest selection of coins of any major platform. However, in October 2026 it suffered the largest crypto theft on record, and we have lowered our rating while the full impact becomes clear. It remains a strong choice for experienced traders outside the US who keep only active trading balances on the exchange.
Binance at a glance
| Feature | Details |
|---|---|
| Founded | 2017 |
| Best for | Low fees and coin selection |
| Spot fees | 0.10% maker / 0.10% taker base rate |
| Products | Spot, futures, options, staking, savings, P2P, copy trading |
| US availability | Not on the main platform; US users use Binance.US |
| Recent security incident | About $6.3 billion hot-wallet hack, October 2026 |
October 2026 hack
On October 29, 2026, attackers drained about $6.3 billion from Binance hot wallets across ten blockchains. Blockchain analytics firm TRM Labs attributes the attack to North Korea's TraderTraitor group. Binance paused withdrawals, said user funds were safe, and pledged to cover all losses from its SAFU fund, insurance fund, reserves and treasury. Withdrawals began resuming on November 1. Read our full coverage of the Binance hack.
Fees
Spot trading starts at 0.10% maker and 0.10% taker. Fees fall as your 30-day volume rises, and paying fees in BNB unlocks an additional discount. Futures fees are lower than spot fees. Card purchases and some deposit methods carry extra charges, and withdrawal fees vary by coin and network. Always check the live fee schedule before trading. Learn more in crypto fees explained.
Features
- Huge asset selection: hundreds of coins and trading pairs with deep liquidity.
- Derivatives: perpetual futures and options for experienced traders.
- Earn products: staking, savings and other yield products. Understand the risks of staking first.
- P2P marketplace: buy and sell crypto directly with other users using local payment methods.
- Copy trading and bots: automated strategies for active traders.
- Lite and Pro modes: a simplified app view for beginners and a full trading interface.
Security
Binance maintains an emergency insurance fund (SAFU) and supports two-factor authentication, passkeys, withdrawal address whitelisting and anti-phishing codes. It publishes proof-of-reserves data. The October 2026 hack shows that even the largest exchanges can be compromised, so we strongly recommend keeping long-term holdings in a self-custody hardware wallet.
Regulation
Binance has faced regulatory action in several countries, including a 2023 settlement with US authorities. Its main platform does not serve US residents. Check whether Binance is licensed or registered in your country before signing up.
How to get started
- Sign up through the official Binance website or app (beware of phishing lookalikes).
- Complete identity verification.
- Enable 2FA, an anti-phishing code and withdrawal whitelisting.
- Deposit using a low-cost local method.
- Trade on the Pro interface with limit orders, and consider paying fees in BNB.
Binance alternatives
- Coinbase: simpler and regulated in the US. Compare in Binance vs Coinbase.
- Kraken: strongest security record among major exchanges.
- Bybit: similar low fees with a derivatives focus.
Who should use Binance?
Experienced traders outside the US who prioritize low fees, deep liquidity and coin selection, and who keep only trading balances on the exchange. US residents should look at Coinbase or Kraken instead.
Frequently asked questions
Is Binance safe after the hack?
Binance has pledged to cover all losses and resumed withdrawals, but the incident highlights exchange risk. Keep only what you're actively trading on any exchange.
Can US residents use Binance?
Not the main Binance platform. US residents are directed to Binance.US, a separate company with fewer features.
How do I reduce Binance fees?
Use limit orders, pay fees in BNB for a discount and fund your account with low-cost local payment methods.
What is the SAFU fund?
The Secure Asset Fund for Users is an emergency fund Binance maintains to cover user losses in extreme cases such as hacks.
This review is for educational purposes only and is not financial advice. Fees, features and availability change; always confirm details on Binance's official website.
Fees and availability change frequently. Always confirm current terms on the exchange's website. CryptoBear may earn a commission from some links — see our affiliate disclosure. Not financial advice.