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What is Binance and why is it so popular?

Founded in 2017 by Changpeng Zhao (CZ), Binance has rapidly risen to become the world's largest cryptocurrency exchange. This powerhouse platform processes over $217 billion in daily trading volume across spot and futures markets [1] while serving an impressive 280+ million users globally [2].

The exchange's meteoric rise is remarkable - within just six months of its launch, Binance had already positioned itself among the top three crypto exchanges worldwide [3]. Currently, users can access more than 500 cryptocurrencies across 1,500+ trading pairs [1], offering unmatched variety for traders of all levels.

Binance's popularity stems from several key advantages. First, its competitive fee structure starts at just 0.1% for both maker and taker on spot trading [1]. Furthermore, users can reduce these fees by paying with BNB, the exchange's native token [4]. The platform also offers exceptional liquidity, advanced security features, and specialized tools like Binance Launchpad for early access to emerging projects [5].

Beyond basic trading, Binance provides staking services with returns up to 20% APY on certain coins [5], peer-to-peer trading supporting 900+ payment methods [5], and copy trading features for beginners to follow experienced traders' strategies [5]. Additionally, the platform continues growing at an astounding pace, adding approximately one million new users weekly [2].

Core features of the Binance exchange

The Binance platform excels through its diverse ecosystem of trading and investment tools. At its core, Binance offers spot trading with over 350 cryptocurrencies across 1,300+ trading pairs [6], giving traders exceptional variety and liquidity.

Beyond basic exchanges, Binance provides margin trading with up to 10x leverage [6], allowing users to amplify potential returns while paying daily margin fees to lenders. For passive income seekers, the Simple Earn feature supports deposits of approximately 300 cryptocurrencies with yields reaching up to 52.9% Annual Percentage Rate [6].

Notably, Binance Launchpad helps blockchain startups raise funds while introducing investors to promising projects before mainstream adoption [6]. The platform's NFT marketplace enables users to browse, mint, sell and purchase digital collectibles with zero listing fees [6].

Moreover, Binance offers a comprehensive Web3 wallet that allows users to manage cryptocurrencies, participate in exclusive airdrops, execute cross-chain swaps, and interact with various blockchain platforms [6].

For accessibility, Binance provides both mobile and desktop applications. The mobile app delivers streamlined, on-the-go access with push notifications [7], whereas the desktop version offers advanced tools, detailed charting options, API integration, and superior performance for high-frequency trading [7], making Binance a complete trading ecosystem regardless of your preferred device.

How to start using Binance in 2025

Getting started with Binance is straightforward, even for complete beginners. Initially, you'll need to create an account by downloading the app from the App Store or Google Play Store and tapping "Sign Up" [8].

The registration process involves three simple steps [9]:

1. Enter your email and accept the terms of service
2. Verify your email with the 6-digit code sent to your inbox
3. Create a strong password to access your dashboard

Once registered, you'll need to complete identity verification. Binance offers two verification levels—Basic and Advanced [10]. Basic verification requires minimal personal information, while Advanced verification requires additional identity documents like a photo ID and facial recognition, unlocking higher deposit limits and extra features [10].

Security is paramount, so enable Two-Factor Authentication (2FA) immediately [11]. This adds an essential layer of protection by requiring both your password and a temporary code from your device [11].

After verification, add funds to your account using methods like bank transfers, credit/debit cards, or cryptocurrency deposits [12]. First-time traders should explore the free resources at Binance Academy, which offers comprehensive courses for beginners with educational videos and interactive quizzes [13].

For trading beginners, start with spot trading using small amounts until you're comfortable with the platform [14]. Remember to take it slow and avoid using leverage when first starting out [14].

Conclusion

Binance has certainly earned its position as the world's largest cryptocurrency exchange through its comprehensive ecosystem and user-friendly approach. Throughout this guide, we've explored the platform's impressive statistics—serving 280+ million users globally and processing over $217 billion in daily trading volume. Additionally, we've examined its core features ranging from spot and margin trading to passive income opportunities through Simple Earn.

The platform stands out because of its competitive fee structure, exceptional liquidity, and diverse cryptocurrency options. Furthermore, advanced features like Binance Launchpad and the NFT marketplace provide opportunities beyond basic trading for users at various experience levels.

Setting up your Binance account requires just a few simple steps—registration, verification, security setup, and funding. Undoubtedly, beginners should take advantage of Binance Academy's educational resources before diving into trading. Starting with small amounts on spot trading builds confidence while you learn the platform's nuances.

Regardless of your trading goals, Binance offers the tools and accessibility needed to participate in the cryptocurrency market. Though it might seem intimidating at first, the platform's intuitive design makes it accessible even to newcomers. As you become more comfortable with basic functions, you can gradually explore Binance's more advanced features that might better suit your evolving investment strategy. Whether you're trading on mobile or desktop, Binance provides a complete ecosystem to support your cryptocurrency journey in 2025 and beyond.

References

[1] - https://coinmarketcap.com/exchanges/binance/
[2] - https://www.livemint.com/focus/a-million-users-a-week-what-binance-s-growth-rate-tells-us-about-the-next-100-million-into-crypto-11758016817634.html
[3] - https://www.forbes.com/sites/darrynpollock/2018/10/08/how-binance-conquered-the-cryptocurrency-world-on-the-back-of-a-utility-token/
[4] - https://www.investopedia.com/terms/b/binance-exchange.asp
[5] - https://www.cryptoninjas.net/exchange/binance-vs-okx/
[6] - https://www.cryptoninjas.net/exchange/binance-review/
[7] - https://fxmerge.com/community/crypto-questions/what-are-the-differences-between-the-binance-mobile-app-and-the-binance-desktop-platform/12892
[8] - https://www.youtube.com/watch?v=EyNnvug3AdQ
[9] - https://tradingfinder.com/exchanges/binance/registration/
[10] - https://support.binance.us/en/articles/9842801-how-to-create-your-account-pass-identity-verification-basic-advanced
[11] - https://support.binance.us/en/articles/9842823-two-factor-authentication-2fa-faqs
[12] - https://baxity.com/getting-started-with-binance-a-step-by-step-guide-for-beginners
[13] - https://academy.binance.com/en/track/beginner-track
[14] - https://www.reddit.com/r/binance/comments/1lpsxoi/how_to_start_trading/