Binance is the world's largest crypto exchange based upon trading volume, offers trading for over 500 cryptocurrencies and other blockchain-based services. Binance was founded in 2017 by Changpeng Zhao and Yi He. It has become an international platform serving millions of customers while facing many regulatory issues. At present, Binance does not have an officially recognized corporate headquarters and conducts its business globally.
Was founded by Changpeng Zhao and Yi He in China, first launched July 14th and then immediately moved operations due to the Chinese government cracking down on the new company.
Relocated its operation to Malta, Binance became the largest cryptocurrency exchange in terms of market capitalization.
Opened fiat-to-crypto exchange Binance Jersey and began offering perpetual futures trading.
Announced that Binance would purchase FTX operations but later stated that they were withdrawing their offer because of liquidity problems; purchased Sakura Exchange to allow them to once again enter the Japanese market.
Paid a $4.3B fine and CZ stepped down as CEO after pleading guilty to violating regulations.
Mubadala invested $2B in Binance; Binance was granted a license to conduct business from Abu Dhabi.
Multi-jurisdiction cloud infrastructure with global data centers
Advanced algorithmic trading systems and market analysis powered by proprietary high-frequency trading technology
Limited public technical documentation; based on company background and partnerships
| Service | Cost | Details | Source |
|---|---|---|---|
| Spot Trading (VIP 0) | 0.10% maker/taker | Base rate for low volume traders | Official fee schedule |
| Spot Trading with BNB | 0.075% maker/taker | 25% discount when paying fees with BNB | Official fee schedule |
| Spot Trading VIP 9 | 0.011% maker / 0.023% taker | High volume tier (≥ $4B 30-day USD eq., ≥ 5,500 BNB) | VIP fee tiers |
| Futures Trading (Base) | 0.02% maker / 0.04% taker | USDⓈ-M futures standard rates | Futures fee schedule |
| Options Trading (Base) | 0.10% maker/taker | 20% VIP discount + 25% BNB discount available | Options Enhanced Program |
| Withdrawals | Network fees | Blockchain network fees apply, competitive rates | Withdrawal policy |
| Zero-fee promotions | $0 | Specific pairs like JPY options (FET/JPY, TAO/JPY) | Promotional offers |
| Feature | Binance | Bybit | Kraken | Coinbase |
|---|---|---|---|---|
| Core Functionality | Spot/Futures/Options/Margin | Spot/Futures/Options | Spot/Futures | Spot/Futures |
| Starting Price (Spot) | 0.10% | 0.10% | 0.16%/0.26% | 0.40%/0.60% |
| Free Tier Availability | No account fees | No account fees | No account fees | No account fees |
| Enterprise Features | VIP tiers, Institutional API | VIP tiers, Institutional | OTC desk | Institutional custody |
| API Availability | Yes (high speed) | Yes | Yes | Yes |
| Integration Count | 500+ coins, broad ecosystem | 400+ coins | 100+ coins | 250+ coins |
| Support Options | 24/7 chat, VIP support | 24/7 chat | 24/7 phone | 24/7 phone |
| Security Certifications | SAFU fund, Proof of Reserves | Insurance fund | FDIC insurance (USD) | SOC 2 |
Binance offers a larger selection of coins to trade (over 500) compared to Bybit (over 400) and has lower effective fees (thanks to BNB and VIP discount programs) and better infrastructure than Bybit. Bybit does offer competitive futures leverage (up to 125x) but lags behind Binance in terms of spot market liquidity.
Binance for a complete trading solution; Bybit for pure derivatives focused strategy.
Binance is much less expensive (0.10% taker fee vs 0.26% taker fee) and has greater liquidity than Kraken. Kraken does serve U.S./EU regulated customers but does not offer an options platform or the same breadth of altcoins as Binance.
Binance for active global traders; Kraken for compliance-focused institutions.
Binance has much lower fees (0.10% vs 0.60%) and a wider range of coins (500+ vs 400+) than both OKX and Coinbase. Coinbase focuses on providing a compliant experience for new traders and has a strong reputation for user experience, but charges a premium for this service.
Binance for high-volume traders; Coinbase for beginners who need to be assured of regulatory compliance.
Direct competitor with similar fee structures and product offerings. Binance has slightly more liquidity and is integrated into the BNB ecosystem, while OKX provides better localized services in certain regions of Asia.
Binance for highest liquidity; OKX for regional specialization.
Binance offers a variety of different customer support options to assist users in resolving their problems. Some of the customer support options available to users include: a 24/7 live chat support system; a ticket system for submitting more detailed requests; a Support Center with a collection of Frequently Asked Questions and troubleshooting guides; an artificial intelligence (AI)-powered support bot; and an official WhatsApp channel for users who prefer to communicate via messaging apps. However, phone support is not currently available from Binance.
To begin accessing the customer support options made available by Binance, log into your Binance account and click the Support button found at the bottom right corner of the page or select it from the menu in the Binance mobile app. Once inside the Support window, you will see an opportunity to interact with the AI-powered support bot for finding answers to common questions or for troubleshooting common problems. Alternatively, you can view a list of frequently asked questions or navigate to the Support tab to obtain additional self-service tools. Or, simply click Get Support to initiate a live chat session with a member of Binance's customer support team. Finally, you can submit a support ticket directly from the Support tab in the Binance website.
Binance support deals with all manner of account access troubles (login, 2-Factor Authentication, and limitations); troubles with making and withdrawing funds; questions about how to trade; Security concerns; Appeals for KYC verification; Problems related to P2P transactions; Missing withdrawals; and other issues relating to the Binance Platform.
Binance will do its best to answer support inquiries by answering them within 24 hours. Live chat is generally the fastest way to get connected to an agent, although response times can depend upon the complexity of the question being asked and the number of inquiries that the support team is handling at the moment.
No, Binance does not have phone support. All customer support is provided via live chat and/or email/ticketing systems. If you receive a call or direct message claiming to be from Binance Support it is likely a scam and/or a phishing attempt.
Before contacting Binance Support you should first go to their Support Center and look at their FAQs as they cover many common issues. When you contact Binance Support make sure you have all your account information, transaction ID(s) and any relevant screenshot(s). Try to be as descriptive as possible when explaining your problem so the support agent can more easily help you.
Yes. If you feel like you were unfairly banned/suspended, or if someone is using your name to commit fraud, etc., or if you need immediate assistance (your account has been hacked, you can't withdraw/send, etc.), you can complete an Appeal Form. Binance will review your case as quickly as possible.
Binance Support is offered in several different languages. Prior to entering a chat you will have the option to choose which language you prefer. Due to the large number of inquiries, the Customer Service team may not always be able to speak in the language you prefer and you will not be able to switch languages while chatting with an agent.
Binance offers a full range of multichannel support services with 24/7 live chat and ticketing capabilities, as well as Self-Service options (including an AI-powered support bot) for users to seek help with a variety of issues, including account access, trading, security issues, etc. In general, Binance Support answers issues within 24 hours. Binance Support is offered world-wide, but the majority of users will communicate with the support team via live chat and/or email with no phone support.
Excellent - information sourced directly from official Binance support documentation, FAQ pages, and support center guidelines. Data reflects current support policies and available channels.
