⚠️ The most important thing first: don't tap Sign Up directly in the app — you'll miss all the new-user rewards. They only apply when you register via a registration link (e.g. Sign Up) or enter the invite code BINANBT.
TL;DR
- Binance is the world's largest cryptocurrency exchange by trading volume, founded in 2017 by Changpeng Zhao (CZ), now with 323 million registered users across 100+ countries.
- Its scale is in a league of its own: $156.4 trillion in cumulative volume and about $153 billion in user assets under custody — roughly 43% of all crypto holders.
- Its product line spans spot, futures, earn, token launches, and even US stocks and ETFs, as it pivots from an exchange into a "financial super app."
- Security rests on a $1 billion SAFU fund + Proof of Reserves + a 1,500-person compliance team, though it paused services in some EU countries after MiCA took effect in July 2026.
💡 Heads-up: if you decide to sign up for Binance after reading this, don't register directly in the app — that earns you no new-user rewards. You only get the rebate by going through a registration link (e.g. Sign Up) or entering invite code BINANBT.
What is Binance?
Binance is a centralized cryptocurrency exchange founded in 2017 by Chinese-Canadian engineer Changpeng Zhao (CZ), and today it's the largest and most-used crypto trading platform in the world. The name "Binance" combines "binary" and "finance."
Its core job is letting people buy and sell crypto: you can use fiat (USD, EUR, etc.) to buy Bitcoin or Ethereum, and you can also trade spot, futures, earn yield, and more. As of July 2026, Binance has 323 million registered users across 100+ countries and $156.4 trillion in cumulative trading volume1.
In one line: Binance is to crypto roughly what "a stock exchange + broker + bank savings account" combined is to traditional finance — the largest marketplace and an all-in-one digital-asset service.
Why is Binance the biggest?
Binance is the largest exchange because its liquidity is in a league of its own: it captures about one-third of centralized spot trading and 42.5% of futures trading globally. Scale itself is the moat — deeper order books mean tighter spreads, which attract more capital, reinforcing the cycle.
| Metric | Figure |
|---|---|
| Registered users | 323 million (≈43% of all crypto holders)1 |
| Cumulative volume | $156.4 trillion (+$11.4 trillion in H1 2026)1 |
| User assets under custody | ≈$153 billion |
| Spot market share | ≈33% (global CEX spot)2 |
| Futures market share | 42.5% (global CEX futures)2 |
| Supported coins | 500+ (1,880+ spot pairs)1 |
| Fiat on/off-ramp | $83.3 billion (H1 2026, +29% YoY)1 |
The direct payoff of that scale: the bid-ask spread on major coins like Bitcoin is typically around 0.01%, so large orders suffer less slippage and fill more smoothly.
Binance's history
Binance went from launch in 2017 to global No. 1 in just nine years. Key milestones:
| Date | Milestone |
|---|---|
| July 2017 | Binance exchange launches; surpasses one million users within six months |
| April 2018 | Daily volume tops $10 billion, taking the industry No. 1 spot |
| 2019 | Launches futures and Launchpad token sales; sets up the SAFU fund |
| November 2023 | Reaches a $4.3 billion settlement with the US DOJ; CZ steps down as CEO3 |
| 2025 | Receives full authorization from Abu Dhabi's ADGM — a first for a digital-asset exchange |
| July 2026 | Ninth anniversary: 323 million users, $156.4 trillion volume, pivot to a "financial super app"1 |
The 2023 settlement was Binance's biggest turning point. After CZ stepped down, Binance entered a "compliance-first" era, now led by co-CEOs Richard Teng and Yi He.
What can you do on Binance?
Binance is no longer just a place to buy and sell coins — it's a one-stop platform spanning trading, earning, token launches, payments, and stocks. Its main products:
| Product | What it is |
|---|---|
| Spot trading | Buy/sell 500+ coins like Bitcoin and Ethereum at a 0.10% base fee |
| Futures | USDT- and coin-margined perpetuals with leverage; 42.5% of global futures |
| Binance Earn | Flexible, locked, and staking products; stablecoin APRs around 2%–8% |
| Launchpad / Megadrop | Hold BNB to participate in new-token launches and airdrops |
| Web3 wallet | Self-custody wallet for multi-chain dApp interaction |
| P2P / C2C | Fiat on/off-ramp via peer-to-peer trades |
| Stocks / ETFs | 7,000+ US stocks and ETFs plus tokenized "bStocks" (24/7 trading)1 |
| Binance Card | A crypto spending card |
Binance Earn and Launchpad are the two main hooks for users who want to "earn yield on idle coins + farm new-token drops" — see the Binance Earn guide and the Launchpad/Megadrop guide.
Is Binance safe?
Binance's security rests on three layers — a $1 billion SAFU fund, Proof of Reserves, and a 1,500-person compliance team — making it a top-tier platform technically. But it has experienced several security incidents.
- SAFU fund: an emergency insurance fund set up in 2018 at a $1 billion size, converted to Bitcoin in February 20264. Past incidents have been fully covered by SAFU.
- Proof of Reserves (PoR): on-chain reserves published regularly to confirm user assets are backed 1:1 (or more).
- Track record: a 2019 hot-wallet hack of 7,000 BTC (covered by SAFU) and a 2022 BSC bridge exploit of ~$570 million (mostly recovered) — in neither case did users absorb the loss.
It's important to separate the two: technical security and regulatory compliance are different things. Binance is technically sound, but after MiCA took effect in July 2026 it paused services in some EU countries (France, Italy, Spain, and others). For a deeper security check, see Is Binance safe? A 2026 item-by-item review.
Binance's regulatory status
Binance holds regulatory licenses or approvals in 20 jurisdictions and is among the exchanges with the largest compliance investment, spending over $300 million a year with a 1,500-person compliance team1. In 2025 it became the first digital-asset exchange to receive full authorization from Abu Dhabi's ADGM/FSRA.
Two caveats are worth stating clearly:
- Limited in the US: US users can only access the reduced offering on Binance.US; the main platform doesn't serve US users.
- EU MiCA setback: after MiCA took full effect in July 2026, Binance paused crypto trading services in some EU countries (withdrawals still work).
⚠️ For readers in restricted regions: this is educational content, not investment advice. Crypto trading is tightly regulated in many jurisdictions, so confirm and comply with your local laws before registering or trading.
Binance vs. other exchanges
If you're a beginner or a mainstream trader, Binance is almost a no-brainer; if you want a Web3 wallet or specific features, you can pair it with another platform. Quick comparison:
| Platform | Position | Best for |
|---|---|---|
| Binance | Largest, best liquidity, most complete product line | Beginners + mainstream traders |
| OKX | Strong Web3 wallet and trading bots | Advanced / automated traders |
| Coinbase | Strongest US compliance, simplest interface | US users / compliance-first users |
For a deeper "which exchange should I pick" comparison, see our Binance 2026 full review and best exchanges for beginners.
How do beginners get started?
Getting started is four steps: sign up → verify (KYC) → deposit → trade. This article covers what Binance is; for the step-by-step details on downloading the app, registering, and funding your account, see our dedicated Binance download, register & official site 2026 guide.
FAQ
Is Binance the largest cryptocurrency exchange?
Yes. By trading volume, user count, and assets under custody, Binance ranks first globally: 323 million registered users, $156.4 trillion in cumulative volume, and roughly $153 billion in user assets — about 43% of all crypto holders.
Is Binance a legitimate platform?
Binance holds regulatory licenses or approvals in 20 jurisdictions, received full authorization from Abu Dhabi's ADGM in 2025, and spends over $300 million a year on compliance. But it isn't licensed everywhere and paused services in some EU countries in July 2026 over MiCA — confirm your region's rules before signing up.
Is Binance safe? Can I lose my money?
Technically Binance is top-tier: a $1 billion SAFU fund backs past incidents, Proof of Reserves is published regularly, and a 1,500-person compliance team runs day to day. Past incidents were covered without user losses. But any centralized exchange carries extreme platform/policy risks, so large holdings are better kept in self-custody.
How many users and how much volume does Binance have?
As of July 2026, Binance has 323 million registered users across 100+ countries, $156.4 trillion in cumulative trading volume, and about $153 billion in user assets under custody — roughly one-third of global spot trading and 42.5% of futures.
What is BNB used for?
BNB is the core token of the Binance ecosystem: ① 25% off trading fees; ② access to Launchpad/Megadrop launches; ③ gas on BNB Smart Chain; ④ higher yields in Binance Earn. As of July 2026, BNB's market cap is about $87.6 billion.
Is Binance better than Coinbase or OKX?
All three are top exchanges. Binance wins on liquidity, coin selection, and ecosystem; Coinbase wins on US compliance and simplicity; OKX wins on its Web3 wallet and bots. Beginners and mainstream traders are usually best served by Binance.
How do I download and register on Binance?
See our dedicated "Binance download, register & official site 2026 guide": on iOS you usually need an overseas Apple ID, and on Android you install the APK from the official website. Registration supports email or a +86 phone number — use invite code BINANBT to actually receive the rebate.
Conclusion
Binance is, hands down, the world's No. 1 crypto exchange in 2026: 323 million users, $156.4 trillion in cumulative volume, roughly 33% of spot and 42.5% of futures market share — scale with no close second.
Its edge boils down to three things: best liquidity, most complete product line, and largest compliance investment. For beginners it's the safest starting point; for veterans it's the venue with the best depth and fees.
The only thing to watch is regulatory uncertainty in some regions (EU MiCA, US restrictions) — just confirm your region is supported before signing up.
💡 Don't register directly in the app — that earns you no new-user rewards. You only get the rebate by going through a registration link (e.g. Sign Up) or entering invite code BINANBT.
Recommended sign-up:
📚 Further reading:
- Binance Download, Register & Official Site 2026 Guide
- Binance 2026 Full Review: Security, Fees & Features
- Is Binance Safe? A 2026 Item-by-Item Review
- On-chain Guide — Learn Blockchain From Zero
⚠️ Disclaimer: This article is an objective introduction to Binance, not investment advice. Crypto trading is extremely risky and prices are highly volatile — make decisions based on your own risk tolerance. Data is as of July 2026 (Binance's 9th-anniversary disclosures); fees, features, and services may change at any time.