Note (2026): Binance has faced significant regulatory action in multiple countries. In late 2023, Binance settled with the US Department of Justice for $4.3 billion and its founder Changpeng Zhao resigned as CEO. The platform operates under enhanced compliance requirements. Check whether Binance is available and fully licensed in your jurisdiction before creating an account.
Binance is the largest cryptocurrency exchange in the world by trading volume. It supports hundreds of coins, has competitive fees, and offers a well-designed interface for both new and experienced traders. Despite its regulatory history, it remains a widely used platform with strong liquidity. This guide walks through how to use it properly and safely.
What Binance Offers
Binance allows you to:
- Buy cryptocurrency directly with a card or bank transfer
- Trade Bitcoin, Ethereum, and hundreds of altcoins against each other
- Access spot trading, futures, staking, and savings products
- Use Binance's own token (BNB) to reduce trading fees
Binance.US operates separately for US users under stricter regulatory oversight. Users in certain countries may be redirected or restricted. Always verify availability in your country before proceeding.
Security Features
Binance has multiple layers of account security:
- Two-Factor Authentication (2FA): Required for withdrawals. Use an authenticator app (Google Authenticator or Authy) rather than SMS, phone-based 2FA is vulnerable to SIM-swapping attacks.
- Withdrawal address whitelisting: Lock withdrawals to pre-approved wallet addresses only. Anyone who hacks your account cannot send funds to a new address without your approval.
- Anti-phishing code: Set a unique code that appears in all genuine Binance emails. This helps identify fake emails.
- Cold storage: Binance stores the majority of customer funds offline.
Step 1: Create an Account
- Go to binance.com (or binance.us if you are in the United States)
- Click "Register" and enter your email address and a strong password
- Verify your email address via the confirmation link sent to your inbox
- Complete identity verification (KYC), required for all users. You will need a government-issued ID and a selfie photo
- Enable 2FA immediately after account creation, do not skip this step
Identity verification note: Binance requires full KYC for all accounts. Unverified accounts have severely restricted functionality. The process typically takes a few minutes to a few hours depending on document checks.
Step 2: Deposit Funds
You can deposit in two ways:
Deposit Fiat (Bank Transfer or Card)
Go to "Buy Crypto" and select your payment method. Card deposits are instant but carry higher fees (typically 1.8–2%). Bank transfers are cheaper but take 1–3 business days. Available payment methods vary by country.
Deposit Cryptocurrency
If you already hold crypto on another wallet or exchange, go to "Wallet" → "Deposit" and find your coin. Binance will show you a deposit address. Copy it carefully and send from your other wallet. Always send a small test transaction first when transferring large amounts.
Step 3: Place a Trade
Binance's basic trading interface is in "Trade" → "Spot":
- Search for the trading pair you want. For example, BTC/USDT to buy Bitcoin with Tether, or ETH/BTC to trade Ethereum for Bitcoin
- Choose order type, "Market" buys immediately at the current price. "Limit" lets you set a specific price to buy or sell at
- Enter the amount you want to buy or sell
- Review the fee shown and click "Buy" or "Sell" to confirm
Your trade appears in "Open Orders" until filled. Completed trades move to "Order History".
Step 4: Withdraw Your Coins
When you have finished trading and want to move coins to your own wallet:
- Go to "Wallet" → "Withdraw"
- Select the coin you want to withdraw
- Enter your wallet address. Paste it, never type it manually
- Select the correct network. Sending on the wrong network will lose your funds
- Enter the amount, review the network fee, and confirm
Network selection is critical. When withdrawing Bitcoin, use the Bitcoin network. When withdrawing Ethereum, use ERC-20. Sending to the wrong network is irreversible and will result in permanent loss of funds. If you are unsure, send a small test amount first.
Tips for Using Binance Safely
- Never store more on Binance than you plan to actively trade. Use your own wallet for long-term holdings.
- Enable 2FA with an authenticator app, not SMS.
- Enable the withdrawal address whitelist.
- Be alert to phishing, Binance will never ask for your password or 2FA codes via email or chat.
- Check that you are on the correct Binance domain before logging in.
- Never invest more than you can afford to lose. Crypto markets are volatile.