What is Binance?
Binance was founded in 2017 by Changpeng Zhao (CZ) and quickly grew to become the world's largest cryptocurrency exchange by trading volume. With over 150 million registered users and processing billions in daily trading volume, Binance dominates the global crypto market.
For Asian traders, Binance offers several key advantages: the highest liquidity on BTC/USDT pairs, P2P trading with local Asian currencies (JPY, KRW, THB, VND, IDR, MYR, PHP, INR), extensive altcoin selection, and a comprehensive product suite from spot to futures to DeFi.
Binance Fees
| Fee Type | Rate | Notes |
|---|---|---|
| Spot trading | 0.1% | 0.075% with BNB discount |
| Futures trading | 0.02% / 0.04% | Maker / Taker |
| Crypto deposit | Free | No deposit fees |
| Fiat deposit | Varies | Depends on method |
| BNB discount | -25% | Pay fees in BNB for discount |
Binance Security
Binance employs industry-leading security measures including 2FA (TOTP and hardware keys), anti-phishing codes, withdrawal whitelist, and SAFU (Secure Asset Fund for Users) — a $1B insurance fund to protect against hacks. Binance has a mixed security record: a $40M hack in 2019 was fully compensated by SAFU, but a $570M BNB Bridge hack in 2022 raised concerns.
Binance in Asia — Country Availability
Binance is available in most Asian countries but with important exceptions:
- Japan: NOT FSA licensed — not recommended
- Singapore: Available — no specific restriction
- South Korea: Available
- Thailand: Available via Binance TH (licensed)
- Vietnam, Indonesia, Malaysia, Philippines: Available
- India: Available (regulatory scrutiny ongoing)
- Hong Kong: Available
Binance Products
Binance offers the most comprehensive product suite in crypto:
- Spot trading: 350+ trading pairs
- Futures: USDT-margined and COIN-margined perpetuals
- P2P: Buy/sell with local Asian currencies
- Earn: Staking, savings, liquidity pools
- Launchpad: Early access to new token launches
- NFT Marketplace
- BNB Chain DeFi integration
