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What Is Binance?

Binance is an online-only service. The platform is dedicated to trading, buying, and selling cryptocurrencies, including Bitcoin and Ethereum, for example. Binance is not limited to a specific country but focuses on trading cryptocurrencies globally. Once adult private users have been verified, they receive a digital wallet to support their trading of cryptocurrencies.

Who Uses Binance?

Binance is aimed at private investors who want to invest and trade digital cryptocurrencies online. Any verified adult can participate.

Binance Software - Overview
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Reviews of Binance

Average score

Overall
4.5
Ease of Use
4.2
Customer Service
3.9
Features
4.4
Value for Money
4.2

Reviews by company size (employees)

  • <50
  • 51-200
  • 201-1,000
  • >1,001
Author Kelvin
Author Kelvin
Trader in Uganda
Verified LinkedIn User
Investment Management Software, 11–50 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Binance, one of the best exchangers out there

5.0 12 months ago

Comments: It helped me in successfully trading crypto for myself and some of my clients

Pros:

It has lots of functions and investment options, and has one of the largest p2p market.

Cons:

Nothing really in particular I would say.

Evandro
Administrator Assistant in US
Accounting Software, 2–10 Employees
Used the Software for: 1-5 months
Reviewer Source

Binance and salty fees but worth

4.0 2 months ago

Comments: Began using it this year's as part of me learning to deal with cripto currencies and overall investment it has been great until now.

Pros:

The ability to trade, buy, sell, transfer cripto money it's super Worth it.

Cons:

The fees are a little bit high like for example you transfer 24Dogecoin they cut 4 so you withdraw 20 it's a little salty.

Sotis
Account Executive in US
Internet, 51–200 Employees
Used the Software for: 1+ year
Reviewer Source

Account security

4.0 last week New

Pros:

I love binance for the encryption purpose it allows a person using fingerprint, two Factor authentication, SMS and email codes this helps to enhance security.

Cons:

It takes a lot of time to learn crypto trading.

Kirit
Head IT in India
Computer & Network Security, Self Employed
Used the Software for: 1-5 months
Reviewer Source

A good platform to do a P2P Scam, I will advise never use Bianance

1.0 last month New

Pros:

Honestly, I can't think of anything positive to say about Binance. The customer support is practically non-existent. I’ve had to wait days to resolve issues, only to get vague responses that don’t solve anything.

Cons:

The biggest issue I have with Binance is the lack of security and protection on their P2P platform. I’ve encountered fraud, where buyers or sellers have scammed me, and the platform offers little to no support in resolving these issues. Despite following all the correct procedures, I’ve lost funds due to fraudulent transactions, and Binance's customer service has been slow to respond or offer any meaningful help. The lack of proper monitoring and security checks on P2P trades is a huge risk, and it makes me feel unsafe using the platform for peer-to-peer transactions.

Rana
Consultant in Lebanon
Education Management, 51–200 Employees
Used the Software for: 2+ years
Reviewer Source

The most trustful cryptocurrency exchange platform

4.0 2 months ago

Comments: It s a good experience in general with the wide range of cryptos that this platform offers, the low trading fees and its strong security measures

Pros:

I like the fact that you can buy and sell quickly,place many orders wisely with the staking and the limits option to reduce your loss what allows you to make some passive income.And it has relatively low trading fees what makes it easier to trade.

Cons:

The complexity of the platform! It actually took me a lot of time at first to understand all the features and how to trade...Now after years of trading on Binance it s easier for me but for sure it s overwhelming for beginners

MATEUS
Nutrician in Brazil
Health, Wellness & Fitness, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

The crypto broker I use most

5.0 9 months ago

Comments: I started trading with Binance in the 2017 bull run, I went through other brokers that sometimes had some advantages but were not sustained over time. What made me not trade with another broker nowadays is that I am very happy with Binance.

Pros:

For me, the main advantage of operating on Binance is the variety of currencies, services, such as spot and futures, stakes, etc. In addition to one of the lowest rates on the market and a very stable application.

Cons:

The only point against it would be the fact that it is still a broker, but this is more for holders who the most recommended option would be to leave it in a cold wallet.

Mbuotidem
Community Manager in Nigeria
Internet, 501–1,000 Employees
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Binance; Pros And Cons

4.0 last year

Pros:

My favorite Binance feature (apart from Binance Pay which I mentioned earlier) is the Crypto-Convert feature on the app. This feature allows users to convert one cryptocurrency or fiat to another with no fees whatsoever. This feature is very useful especially because there is a very low quantity threshold. And because it's free, you can make multiple trades without worrying about trading fees.

Cons:

Binance's customer service system leaves much to be desired, in my experience. Admittedly, their services are optimized so excellently that there is barely ever any need for support, but the few times I have needed support, the experience was far from satisfactory. In my most recent experience, I unintentionally made a deposit of an unlisted token to my account and I needed help retrieving the funds so I contacted Customer Support. Suffice to say, not only did I get a delayed response (which infact, I had to complain again on their Twitter (now X) page) I also did not get my funds back. Fortunately it was an insignificant amount. Nevertheless, I was embittered by the experience.

Ramou
Typise and digital marketing in Gambia
E-Learning, Self Employed
Used the Software for: 1+ year
Reviewer Source

Binance: A Feature-Packed Exchange with Regulatory and Support Challenges

5.0 last month New

Comments: Binance offers a feature-rich experience with many benefits, such as variety and liquidity, it is not without challenges in areas like customer service and regulatory compliance.

Pros:

Wide Range of Cryptocurrencies,Low Fees,Advanced Trading Tools,Security Features, User-Friendly Interface and global reach.

Cons:

Customer Support Binance's customer support is slow and sometimes unhelpful, which can be frustrating, especially when dealing with account issues or urgent transactions.

Denis
Sevurity officer in UK
Security & Investigations, Self Employed
Used the Software for: 2+ years
Reviewer Source

Garbage application

1.0 2 months ago

Comments: This company scams people of their money.

Pros:

Nothing in particular. Have not made any profit and my colleagues lost their money.

Cons:

Garbage application. The company fake trades and scams people of their money.

LISSETTE
Junior Transla in Germany
Translation & Localization, Self Employed
Used the Software for: 2+ years
Reviewer Source

My review about Binance

5.0 2 weeks ago New

Comments: So far good and useful when I need to do a fast transaction

Pros:

Fast and easy cryptocurrency transactions

Cons:

be aware of scammers on the p2p exchanges

Agba
Consultant in Nigeria
E-Learning, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Why I use Binance as the best crypto exchange ever.

5.0 last year

Comments: As a crypto trader and Binance user, Binance is an exchange with worthiness of trust, and good customer service, and as a verified user on Binance you can never be scam because the escrow got you covered.

Pros:

Their competence and reliability and their fame of trust.

Cons:

Gas rate, where you do transactions not using there native token

Ayoub
security guard in Morocco
Security & Investigations, 501–1,000 Employees
Used the Software for: 1+ year
Reviewer Source

great platform

5.0 last year

Pros:

I like that it's very fast and secure and that it's easy to use

Cons:

there is a problem with the indicators they need to add more of them

Clint
Manager, Learning and Development in US
Hospital & Health Care, 10,000+ Employees
Used the Software for: 2+ years
Reviewer Source

Lots of Availability

4.0 last year

Pros:

I like that Binance offers access to more cryptocurrencies than some other exchanges.

Cons:

The user interface isn't the most intuitive and sometimes I find myself having to search for a function I want to use.

armel
SEO in Cameroon
Animation Software, 201–500 Employees
Used the Software for: 1+ year
Reviewer Source

the best preservative

5.0 last year

Pros:

the options I really like here are the Trade option and many others

Cons:

I don't like the fact that there are too many options on the dashboard.

Chiara
Reviewer in Italy
Arts & Crafts, Self Employed
Used the Software for: Free Trial
Reviewer Source

Best crypto wallet ever found

5.0 last year

Comments: It has a lot of functions to store cryptos, exchange them, stake them and also many rewards for its users.

Pros:

It’s free. It has low fees in trading cryptos. It has a high number of different crypto coins and also a web 3 wallet plus different other wallets. You can stake coins and earn a percentage of that.

Cons:

At first sight it seems a little bit complicated to use.

Kenny
Trader in Panama
Financial Services Software, 11–50 Employees
Used the Software for: 6-12 months
Reviewer Source

Good platform

5.0 last year

Comments: Have been great for all the features

Pros:

I love the easy and quick to use any function of the platform

Cons:

It has a lot of things that sometimes I don’t know where i have click

Joydeep
Project Engineer in India
Defense & Space, 5,001–10,000 Employees
Used the Software for: 1-5 months
Reviewer Source

Hub for Fraudulent activities

1.0 2 years ago

Comments: Poor and unethical background of Binance I would not recommend others to use binance.

Pros:

There is no pros in Binance because they are hub for Fraudulent activities.

Cons:

My name is Joydeep Hazarika. I am new to Binance Platform. As I have been scammed from one of the registered users of Binance In P2P trade all they can do is freeze his/her wallet. And later said that the seller had already withdrawn all his/her money from his/her wallet. They are not co operating to give the details of seller when I asked I need his/her details to register a fraud case against him/her. I had already filed a case in cybercrime.gov.in but due to very little information I am not sure whether I will get justice at the end. They (Binance) had given me a link and that site doesn't open in nozilla firefox, Google Chrome or any other browser. Since I am also a user of Binance and that fraud person is also a user of Binance. Here the customer representative of Binance are not supporting the victim but rather are interested to protect the rights of the so and so called Fraudulent person. As Binance has now become a hub of all Fraud person and their safe haven for illegal activities people stay away from using Binance. They are Cheaters. I am going to file a petition in High court of India against Binance.

Isaac
Goods and Services in Ghana
Consumer Goods, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Empowering Users with a Wide Range of Cryptocurrency Trading Options"

3.0 2 years ago

Pros:

I like the way Binance provides a user-friendly trading interface that caters to both beginners and experienced traders.

Cons:

My least is the Customer support, when users encounter issues, they may experience delays or difficulties in receiving timely assistance.

Verified Reviewer
Verified LinkedIn User
Computer Software, 2–10 Employees
Used the Software for: 1+ year
Reviewer Source

Alternatives Considered:

"Binance: a reliable, transparent and user-friendly cryptocurrency trading platform."

5.0 2 years ago

Comments: "My overall experience with Binance has been positive. I've found their platform to be user-friendly and their range of cryptocurrencies to be extensive. I've also appreciated their low fees and fast transaction times. However, I have had some frustrations with their customer support and account verification/security measures. Overall, though, I would recommend Binance as a solid option for cryptocurrency trading."

Pros:

What I liked most about Binance was their user-friendly platform and extensive range of cryptocurrencies available for trading. I also appreciated their low fees and fast transaction times

Cons:

The thing I liked least about Binance was their customer support. I found it difficult to get timely responses to my inquiries, which was frustrating at times. Additionally, some of their policies around account verification and security measures could be confusing and cumbersome to navigate."

Aywad
Track and Trace Specialist in Panama
Logistics & Supply Chain, 501–1,000 Employees
Used the Software for: 1+ year
Reviewer Source

Binance as a safe crypto wallet storage

4.0 last year

Pros:

Binance's security measures for my account gives me the ability to have a secure wallet to store my cryptocurrency which at the same time I could P2P exchange at any moment

Cons:

Account verification was really difficult to set up. It just kept failing and support didn't know anything about fixing it at the time.

ful
Content creator in Cameroon
Accounting Software, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Binance review

5.0 2 years ago

Comments: I use to receive payments from international clients as a freelancer. I equally sell cryptocurrencies

Pros:

It is easy to use and the features are very understandable

Cons:

Sometimes transferring your cryptocurrencies to USDT is very slow

Md
Md
Graphics Designe in Bangladesh
Verified LinkedIn User
Marketing & Advertising, 2–10 Employees
Used the Software for: 1-5 months
Reviewer Source

My experience

5.0 2 years ago

Comments: I'm satisfied

Pros:

I received My Payment Via Binance from My usa clients. It's very good for crypto currency exchange. This application give me best rate. I'm happy for that. And very safe and secure. It's also good for trader

Cons:

Binance is a good deal This application don't need any changes.

Nura
Trading in Nigeria
Farming, Self Employed
Used the Software for: 6-12 months
Reviewer Source

Trading

4.0 2 years ago

Comments: I get a lot in binance trading platform. It’s my bank service where I keep my money track

Pros:

The Binance trading is the most helpful trading platform to everyone throughout the world Especially p2p trading which you can make hundred of thousand in a day, it’s review 99% secure. You can stay up buy and selling daily on p2p, to any amount you buy, you’ll get the profits of selling

Cons:

The deposit and withdraw is 100% safe and secure The service is easy and didn’t consume battery

Verified Reviewer
Verified LinkedIn User
Accounting Software, Self Employed
Used the Software for: 6-12 months
Reviewer Source

why binance is the best app for investing money

4.0 2 years ago

Pros:

this software is very easy to use and to understand for beginners and intermediate users like me when I begin to use this app

Cons:

the thing that I don't like in this software is not able to all people like children under 18 years old

Rajnish
Management Intern in India
Civil Engineering, 51–200 Employees
Used the Software for: 1+ year
Reviewer Source

Best platform for professional cryptocurrency traders

5.0 2 years ago

Comments: My overall experience with Binance is above average.

Pros:

The best thing about Binance is that it has a lot of features. Apart from spot trading, it allows futures trading, options trading, etc which is useful for many professionals in crypto. The security of Binance is top notch as we need atleast two different types of OTPs to login to our account. Buying of crypto can be easily done through credit or debit cards. If the cards are not supported, then one can buy using P2P mode, which is quite secure. Also transfer of crypto coins can be done easily and conveniently without confusion. Another good thing about Binance is that one can track his/her Return on Investment(ROI) in different time frames.

Cons:

The only thing I disliked about Binance is that the android app lags sometimes due to which I had to incur loss a few times.