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Experienced cryptocurrency traders can get the most out of Binance’s advanced features, low fees, and wide range of coins. However, Binance is not licensed to operate in the U.S. and that drags on our rating. Read our full Binance review to find out if you should open an account.
Binance’s trading fees are among the lowest on the market. You don’t pay any monthly account fees, and the withdrawal fees are in line with other exchanges. It is free to deposit crypto, but you will pay to deposit fiat (traditional) money like U.S. dollars. The fee depends on how you transfer cash and what third party app you use.
Binance clSBCGLOBALs 1 in 4 crypto holders worldwide use its service. The big advantage to such a strong customer base is that it adds liquidity to the market — you’re more likely to be able to make the trades you want because there are more people trading. It also means you can likely join an active community of traders who speak your language.
Binance has a much broader selection of cryptocurrencies than you’ll get at many exchanges or brokerages. If you want to branch out into less popular coins, Binance is worth a look. It also has a Spotlight section that promotes new currencies so people can get in early. Just be aware that new or lesser-known coins carry more risk than mainstream ones.
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