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Binance Review 2024: Are They Safe & Legit – Or a Scam?

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  • Over 600 tradable cryptocurrencies
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Are you looking to get involved with the leading global crypto exchange? Our latest Binance review will enlighten you as to how you can achieve this. Binance dominates the minds of avid crypto enthusiasts the world over.

Our latest coverage is here to address any queries you might have relating to this popular cryptocurrency exchange. With 600+ digital assets on offer, it’s not a bad idea to gain some insights before you jump right in. All you need to do is keep reading for more!

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Binance: Pros & Cons
Binance: Pros & Cons
  • Largest cryptocurrency exchange
  • Intuitive trading app
  • 600+ cryptocurrency options
  • Past regulatory issues
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Binance Deutschland GmbH & Co. KG
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Last Updated on 02/07/2024

Security, usability, look & feel – Binance has a major presence

Much like with our CEX.IO review, we have looked into the general feel of the platform. Binance has certainly hit the nail on the head in terms of its design and appeal. The yellow and white color scheme has become synonymous with the exchange. You will find that the overall layout and high-speed functionality facilitates a seamless trading experience. This is complemented further by the innovative mobile app on offer.

Binance has a daily trading volume of tens of billions of dollars. It tends to exceed $100 billion dollars on certain days. The platform boasts major liquidity pools, while the number of active users contribute to the fact that Binance is certainly the largest online crypto exchange in the world.

There have been several regulatory issues relating to the platform. The company has done little in certain regards to attain accredited financial licensing in various geographic areas. In actual fact, this has led to Binance being barred from operating in the US. It has come under scrutiny in other countries such as the UK too. The Financial Conduct Authority ordered the platform to halt all activities in the UK in 2021. The exchange has managed to obtain valid licenses in certain financial hubs though. We look forward to seeing how the exchange will approach shedding itself of any doubts from major authorities.

How to trade – get started today!

Binance is a platform which offers exciting crypto trading options. It also acts as a crypto lending platform amongst a multitude of other services. If our Binance review does indeed appeal to you, we are confident that you will be keen to sign up. If you are wondering how to trade using the exchange, then you can simply utilize our step-by-step outline below. Getting started with Binance is relatively straightforward. There is no need to feel that the process is too daunting to undertake.

1. Sign up with Binance

You will need to head on over to the Binance official platform. From here, you will be able to click on the ‘Register’ tab, which is bright yellow and located top-right of your screen. Bear in mind that you can also download the Binance app in order to sign up. You can simply scan the barcode on the homepage using your mobile device.

Start the registration process and enter all your personal information. Link your mobile number so that you are able to use two-step authentication. This will ensure that you have complete control over your account.

2. Complete the verification (KYC) process

You will need to complete the verification process by providing the Binance platform with a clear ID copy. This enables the exchange to verify your identity and ensure that it complies with regulatory requirements.

3. Fund your Binance trading account

Once your account is up and running, link a payment method so that you can buy cryptocurrency. You can also use an external wallet to fund your Binance trading account. Make sure that you read the relevant payment conditions so that you avoid any discrepancies.

4. Assess markets and start trading

Once your account is funded, you will be able to start utilizing the full extent of the platform. Take your time to assess different markets and figures. There is a whole world of cryptocurrency trading opportunities on Binance exchange.

Payments – secure options enable you to fund your account with ease

Binance offers customers the chance to fund accounts using several different options. It is important that you assess these different payment methods so that you choose the right option for you. It is possible to fund your account using your bank card, bank transfer, or buy using Bitcoin to buy altcoins. In order to do so, you will need to link your account to your preferred payment method. Deposits are instant, while there are no fees attached to deposits into Binance trading accounts. You will find that small withdrawal fees are charged by the platform. You are also able to buy/sell crypto directly with other users using the P2P trading platform.

It is worth noting that you cannot store crypto using a built-in Binance wallet. If you are looking for a way to safely store your holdings, then Gameland has you covered. In addition to our Binance review, our latest guide to the best crypto hardware wallets will ensure that you find a secure option for your digital assets. There is never any need to opt for a mediocre platform when you want to protect your funds.

Customer service – Is Binance safe and reliable?

An extensive cryptocurrency exchange such as Binance can be slightly overwhelming at first. There is no doubt that it takes a while to become acquainted with all the online features and trading services. We have found that informative support options can help significantly in ensuring all customers feel looked after and at home on the platform. Plus, there is no substitute for responsive support if ever you experience an issue with your trading account. As such, our Binance review looked into the support on offer and whether it meets our standards here at Gameland.

The online platform boasts an extensive FAQ section which should be your first port of call. There is a raft of information on offer which addresses just about every aspect of the exchange; from the services and fees to the digital assets on offer as well as the latest price updates and market movements. You will also be able to use the live chat feature. Simply click on the icon located at the bottom-right of your screen. This enables you to get in direct contact with the Binance support team. It’s an effective way to raise any concerns or issues that you might be experiencing.

License and security – is Binance legit?

A number of cryptocurrency exchanges continue to operate unabated – even without a proper license or regulatory oversight. These checks are put in place so as to ensure that platforms offering financial services maintain a high level of oversight. It is clear that Binance does indeed operate with relative freedom in a number of territories – regardless of increased calls for tighter regulatory oversight. Our Binance review has found that the exchange is licensed in certain countries and this may well set the precedent for future regulatory acceptance across the board.

At the time of writing, the exchange is regulated in Canada and Bahrain and has also been recognized as a legitimate crypto exchange in France. This means that the platform is doing its bit to meet financial regulatory standards and ensure fair practices – all of which bodes well for you as the end user.

The security of the platform includes a number of different features. Two-step authentication is an important feature which provides relative oversight of accounts, while the platform is able to bar devices from accessing the exchange. There are address whitelisting features as well as insurance on certain balances.

Reputation and customer feedback – what do users have to say?

Our latest Binance review has been crafted using an impartial assessment tool. This means that our experts do their best to avoid letting personal feelings affect the overall analysis. It is vital that you use objective reviews as part of your process of finding the best possible exchange for your crypto interests. Having said that, we also feel that gaining a deeper understanding of what peers have experienced is invaluable.

Our Binance review has noted that many users, especially newcomers, feel that the platform may prove tricky to get a handle on at first. However, once you are able to find your feet, the exchange offers a plethora of trading opportunities complemented by innovative tools and features. There is a reason why Binance is the biggest exchange in the world. It certainly has incorporated a number of key elements which satisfy users and keep them coming back.

Overall, Binance is not a scam; it is a legit, safe and widely used platform with robust security features.


There are a wide number of crypto exchanges these days. The actual crypto asset that you can access will vary. Naturally, you are bound to find the most popular digital coins across the board. However, certain exchanges have gone above and beyond in their pursuit to provide you with a wide selection of trading options. Our Binance review can attest to this. Being the largest exchange in the world, it should come as no surprise that you can trade over 600 different cryptocurrencies on the platform. The wide range of non-traditional assets will leave you awestruck at first.

It is possible to trade all major cryptocurrencies on the platform – as you would expect. This includes a range of NFTs, crypto-related assets in the Metaverse, world of gaming, and much more. It’s a sight to behold and one that will keep you engaged for the foreseeable future. The most traded cryptocurrencies on the platform include altcoins and stablecoins such as Bitcoin, Ethereum, XRP, USD Coin, Solana, Dogecoin, Binance Coin, and Tether.

Other trading

You will come to find that the Binance platform focuses on crypto trading – albeit extremely diverse trading at that. You won’t necessarily be able to trade traditional instruments such as stocks, commodities, or ETFs. There are plenty of ‘conventional’ brokers that have recently included a number of crypto trading options. This is a better bet for you if you are looking to combine crypto trading with trading of institutionally backed financial assets.

Binance has a number of services that make trading crypto via the platform worthwhile. You can hold your crypto assets and receive interest payments on the exchange. Our latest Binance review has noted the availability of personalized savings accounts, liquidity farming, and crypto staking services. You can also gain access to crypto loans using the Binance exchange. There is no doubt that, if you are after a comprehensive crypto trading experience, then Binance offers this to a tee.

Jurisdictions and limits

There have been several regulatory ‘red flags’ which have cropped up across the globe. Our Binance review has noted that the platform continues to offer its trading services in all corners of the world. However, it has stopped serving US customers. If you live in the US, you will be barred from using the Binance platform. Notably, it is regulated right across the border in Canada as well as Bahrain. Most recently, regulators in France have recognized Binance as a crypto exchange meeting all regulatory requirements.


If you are looking for crypto exchanges with lowest fees, then you are in luck! Binance fee structures are very appealing and one of the big attractions of the crypto exchange. Spot trading for regular users has an accompanying fee structure of 0.1% for both makers and takers. Daily borrowing rates vary between 0.02% and 0.05% on average. However, this can increase depending on the currency in question.

As a VIP user, you will be privy to even lower trading fees across all activities. There is a comprehensive fee overview on the platform. Bear in mind that it is also possible to realize deposit/withdrawal fees as outlined in our section on payments.

Product summary

Binance is a platform that blows other exchanges out of the water in terms of scope. You will come to find anything cryptocurrency-related on the platform. Whether you wish to stick to altcoins or dabble in NFTs, there is a trading opportunity for you. The inclusion of crypto services such as loans and interest-earning accounts is yet another feather in the cap of Binance.

Binance review FAQs

✅Is Binance legit for crypto trading?

There are a fair number of enticing platforms whereby you can trade crypto in 2024. Bear in mind that the best crypto exchanges will offer unparalleled services and ensure efficient trading features. At Gameland, we aim to make your life as easy as possible. This includes reviewing the latest crypto exchanges so that you know which are legit and reliable. You can simply head on over to our Binance review to find out more.

📝How do I create a Binance account?

You will find that our ShakePay review is quick to outline the efficiency of the platform. This includes the online registration process. The top exchanges make it easy for you to create an account. You won’t have to spend an age trying to access the platform. However, we do recommend that you read our latest crypto exchange reviews. This will ensure that you actually sign up with a platform that works for you.

❓Does Binance enable trading in stablecoins?

You might be interested in the crypto exchanges with most coins or simply those that offer your favorite digital coins. Binance is an extensive crypto exchange so you are bound to find a number of options at your disposal. So far as stablecoins go, we recommend that you read our latest review. This will give you a better idea as to the different cryptocurrencies that you will be able to trade.

📞Is the Binance online support good?

It is vital that any online platform offers comprehensive support to traders. There is always a possibility that you encounter some sort of issue along the way. Being able to rely on responsive support makes a world of difference. Our latest Binance review will outline all you need to know about the support capabilities of the platform.

💸What are the latest Binance deposit options?

You will note that it is possible to purchase crypto using a number of different payment methods. This is particularly important if you don’t own any crypto at that point in time. You’ll find that there are crypto exchanges that accept PayPal as well as a number of other options. All you need to do is read our latest reviews to find out how the payment processing works on the relevant exchange.

Overall conclusion – our Binance review in action

Our latest Binance review has come to an end. The murmurs that have swelled up around the exchange regarding regulatory adherence – or lack there-of – continue to have somewhat of an affect on the overall reputation of the platform. However, it is clear that the exchange is looking to solidify itself at the top of the rankings as the largest, and most popular, crypto platform around.

In terms of selection and overall services, you will be hard-pressed to find a better platform to sign up with. It has even staked its claim as the best crypto mining platform that doubles up as an exchange, too. Our latest Binance review feels that this crypto exchange is definitely worth considering – as long as you don’t live in the US!

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Crypto Exchange
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T&Cs apply, 18+
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Users must be 18+. If you are having trouble with gambling then help and advice can be found at

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or; or (b) Gamblers Anonymous at 855-2-CALL-GA or

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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