Source-backed analysis11
Review basis
Research-based review: the AppDuo Editorial Team compiled it from official pages, documentation, app stores, press and user feedback, without hands-on testing. Every claim links to a source with the date it was checked.
11 reference sourcesInformation updated Nov 10, 2026
How we review
Binance Review
Large crypto exchange with a 0.1% base spot fee, under legal and security scrutiny
By AppDuo Editorial Team · Updated
- Web
- iOS
- Android
- API
On this page
Decide at a glance
Our verdict
Binance suits people who already understand crypto risk and want a broad exchange with many pairs, 0.1% spot fees (0.075% with BNB), Earn, P2P and an API; the app is rated 4.7/5 on both the App Store and Google Play. The trade-offs: $4.3 billion in US penalties and forfeiture in 2023, a reported $6.3 billion security incident in late October 2026, and legal risk in Vietnam, where Binance is not part of the licensed pilot market.
Best for: Experienced traders who want many pairs, low fees and tools such as the API, Auto-Invest and Earn
Skip it if: Beginners who do not understand crypto risk or cannot tolerate price swings
Pros
- Base spot fee of 0.100% maker and taker, 0.075% with BNB, with VIP tiers going down to 0.011%/0.023%
- Wide product range: spot, margin, futures, options, P2P, Earn on 180+ cryptocurrencies, Auto-Invest, Binance Alpha, US stocks and ETFs for eligible users, and an API
- High ratings at scale: 4.7/5 from 345,469 ratings on the Vietnamese App Store and 4.7/5 from about 4.8 million on Google Play
Cons
- In late October 2026 Binance reported a security incident estimated at $6.3 billion and paused deposits and withdrawals; it says user funds are safe and that it will cover all losses
- In 2023 Binance pleaded guilty in the US (money-laundering, money-transmitter licensing and Iran sanctions violations) and paid $4.3 billion in total
All pros and cons · Who is it for?
Pros
- States a SAFU fund, 1:1 proof of reserves with a self-check tool and 24/7 live chat support in 18 languages; app interface in 6 languages, including English, Vietnamese and Chinese
Cons
- In Vietnam no exchange had been licensed in the pilot market as of August 2026, and investors trading through unlicensed providers face fines of 30–50 million ₫
- The privacy policy is split by region and gives no specific retention period
Best for
- People in regions where Binance is permitted who accept digital-asset risk
Skip it if
- Users in Vietnam who want to stay fully compliant, since Decree 284/2026/ND-CP requires trading through providers licensed in Vietnam
Problems it solves
Experience & key features
What is Binance?
Binance calls itself "the world's leading cryptocurrency exchange" and labels itself No. 1 by customer assets and 24-hour trading volume. The homepage claims more than 320 million registered users in over 180 countries and about $135.5 billion in customer assets; these are self-reported figures. The footer lists three Abu Dhabi Global Market entities regulated by the FSRA (Nest Exchange, Nest Clearing and Custody, Nest Trading), while the seller on the Vietnamese App Store is Binance Switzerland AG. The Android app has been on Google Play since 25 October 2017 and iOS since 6 October 2018.
Key features
The app bundles spot, margin, futures, options, P2P, Earn across 180+ cryptocurrencies, Auto-Invest, ETH Staking, Launchpool, an airdrop portal, Binance Pay, gift cards, OTC services, a desktop app and an API. Binance Alpha covers early-stage projects, and eligible users can trade US-listed stocks and ETFs, with orders executed by Alpaca Securities LLC. App Store screenshots show card purchases from $15. Binance Academy has 400+ educational articles. Many products are not available in every region.
Fees and value
There is no subscription fee. Per the official schedule a regular user pays 0.100% maker and taker on spot, dropping to 0.075% when paying fees in BNB. VIP 1 needs 30-day volume of $1,000,000 and 5 BNB, VIP 9 needs $4 billion and 5,500 BNB, with fees of 0.011% maker and 0.023% taker. Volume counts spot, margin, convert, copy trading and bots. Margin, futures and other products have their own schedules, so check each before trading.
More analysis
Legal, security and incident history
On 21 November 2023, per The Block, Binance pleaded guilty to three counts including operating an unlicensed money-transmitting business and causing services to be exported to Iran without OFAC authorisation; Binance paid a $1.8 billion fine and a $2.5 billion forfeiture, while founder Changpeng Zhao pleaded guilty to Bank Secrecy Act violations, resigned as CEO and paid a $50 million fine. On 23 October 2025 Zhao was pardoned by the US president after serving four months. In late October 2026, per ABC7, Binance estimated about $6.3 billion in impact from a security breach, froze about $3 billion, paused deposits and withdrawals and said it would cover losses from SAFU and company funds; the FBI attributed the attack to a North Korea-linked group. Binance states that user funds are safe.
Who it's for and status in Vietnam
Binance suits people already comfortable trading who accept high risk. In Vietnam, Decree 284/2026/ND-CP, effective 1 September 2026, requires domestic investors to trade through crypto-asset service providers licensed by the Ministry of Finance, with fines of 30–50 million ₫ otherwise. VietnamNet reported in July and August 2026 that no exchange had been licensed yet and that foreign organisations were not eligible for licences in the pilot market. For users in Vietnam this is a legal and access risk to weigh; check the latest status before opening an account. Comparable options include OKX, Bybit, Coinbase and Remitano. This review is based on public documents rather than hands-on use.
Screenshots
Plans & pricing
Prices last verified Nov 10, 2026
Regular user (spot trading)
PersonalFree
No subscription fee; charges are per trade. Per the official fee schedule, a Regular User (30-day volume under $1,000,000) pays 0.100% maker and 0.100% taker on spot, or 0.075% when paying fees in BNB (25% off). From VIP 1 (30-day volume of at least $1,000,000 and a 5 BNB balance) fees step down, reaching 0.011% maker and 0.023% taker at VIP 9. Margin, futures and other products have separate fee schedules.
- Free plan limits
- Opening an account and browsing markets is free. Trading and deposits or withdrawals require identity verification (KYC), and some products may be unavailable depending on region.
- Free trial
- No free trial
Cancellation & refunds
There is no subscription-style refund policy. Binance warns that virtual asset prices are volatile and that it is not liable for trading losses. Crypto transfers are generally irreversible, so check addresses and networks before withdrawing.
Privacy
Binance's privacy portal is an overview page that links to region-specific notices (global, UK, EU, LATAM, MENA and others) and does not name the data controller. Collected data includes information you provide, collect automatically and obtain from third parties (name, Binance ID, location, email), used to run accounts, meet anti-money-laundering law, secure the platform, provide support, market and prevent fraud. It may be shared with other Binance entities, contracted service providers and authorities where legally required. No concrete retention period is given, only "as long as needed" for services and legal obligations. Rights include access, rectification, deletion, objection, portability and withdrawal of consent, exercised through the Privacy Center in the account or by emailing [email protected]. The AppGoblin profile lists SDKs in the Android app such as AppsFlyer, Firebase, Forter, SensorsData, Agora and Cardinal by Visa. Because this is a KYC-verified exchange, users should treat the identity data they submit as sensitive.
Binance alternatives
Frequently asked questions
How much does Binance charge?
Per the official fee schedule, regular users pay 0.100% maker and taker on spot, or 0.075% when paying fees in BNB. VIP tiers lower fees based on 30-day volume. Margin, futures and other products have separate fees.
Is Binance legal in Vietnam?
Decree 284/2026/ND-CP (effective 1 September 2026) requires domestic investors to trade crypto assets through providers licensed by the Ministry of Finance, with fines of 30–50 million ₫. VietnamNet reported that no exchange had been licensed as of August 2026 and that foreign organisations were not eligible. Check the latest regulator announcements.
Are my funds safe on Binance?
Binance says user assets are held 1:1, backed by a SAFU fund and a proof-of-reserves tool. However, in late October 2026 it reported a security incident estimated at $6.3 billion, while stating that user funds are safe and users will not bear the losses. Crypto prices are volatile and Binance is not liable for trading losses.
Does Binance support Vietnamese?
Yes. The App Store language list includes Vietnamese, and the description says 24/7 live chat support covers 18 languages, Vietnamese among them.
Can US residents use Binance?
No. The App Store footnote says the Binance app is only for non-US citizens and residents; US users are directed to the Binance.US app.
Review evidence & sources11
Scores
- Ease of use
- 7.4
- Features
- 8.8
- Value for money
- 8.3
- Performance
- 6.0
- Support
- 7.0
- Privacy & security
- 5.5
Why this score
4.7/5 on both the App Store and Google Play, with a simple card-buy flow and low minimums. Marked down because the app bundles many complex products (futures, margin, Earn, Alpha) that can overwhelm beginners, and KYC is required.
Why this score
Spot, margin, futures, options, P2P, Earn, Auto-Invest, Launchpool, Pay, gift cards, OTC, an API and US stocks for eligible users: among the broadest in the category. Not 9+ because some products are not available in every region and carry high risk.
Why this score
Spot at 0.1% (0.075% with BNB) is competitive among large exchanges, with no subscription. Marked down because margin, futures, withdrawals and card purchases carry other costs and the full fee picture is not on one page.
Why this score
The late-October 2026 incident, with an estimated $6.3 billion impact, paused deposits and withdrawals and a preliminary cause of a compromised DevOps engineer's laptop, is a major reliability mark-down. Binance says user funds are safe and that 90% of the affected amount has been covered; a full technical report had not been published at the time of research.
Why this score
The store listing states 24/7 live chat in 18 languages, plus Binance Academy and a DPO email for data requests. There is no independent data on response times.
Why this score
Offers access, deletion and portability rights and a Privacy Center in the account. Marked down because the portal names no data controller or retention period, data is shared across Binance entities, KYC is mandatory, and the Android app carries many analytics and anti-fraud SDKs.
What users say
- App Store (Vietnam)4.7/5 · 345,469
- Google Play (via AppGoblin)4.7/5 · 4,800,000
Sources
- Vendor-providedOfficial homepageNov 10, 2026
- Vendor-providedOfficial spot fee scheduleNov 10, 2026
- Vendor-providedOfficial privacy portalNov 10, 2026
- storeApp Store listing (Vietnam)Nov 10, 2026
- storeiTunes Lookup API (rating, version, languages, description)Nov 10, 2026
- review-siteAppGoblin profile (Google Play rating, installs, SDKs)Nov 10, 2026
- pressThe Block: CZ steps down as Binance CEO (2023-11-21)Nov 10, 2026
- pressKWTX: Trump pardons Binance founder (2025-10-23)Nov 10, 2026
- pressVietnamNet: Vietnam tightens crypto trading rules from September 1 (2026-07-27)Nov 10, 2026
- pressVietnamNet: What will happen to international crypto exchanges after Decree 284 (2026-08-02)Nov 10, 2026
- pressABC7: Binance estimates security breach impact at $6.3 billion (2026-10-31)Nov 10, 2026
Specs & compatibility
- Developer
- Binance (App Store seller: Binance Switzerland AG)
- Headquarters
- United Arab Emirates
- Launched
- 2017
- Category
- Finance
Capabilities
- Public API
- Mobile app
- Integrations
Platforms
- Web
- iOS
- Android
- API
Interface languages
- English
- Vietnamese
- Chinese
- Spanish
- Portuguese
- Russian
Integrations
- Alpaca Securities
- Visa
- Binance Pay
Support
- Live chat
- Help center
Change history
- Update.In late October 2026 Binance reports a security incident estimated at $6.3 billion, freezes about $3 billion, pauses deposits and withdrawals and pledges to cover all losses.
- Update.Decree 284/2026/ND-CP takes effect: Vietnamese investors must trade crypto assets through domestically licensed providers, with fines of 30–50 million ₫ for violations.
- Company.The US president pardons Changpeng Zhao after he served four months in prison.
Full change history (6)
- Company.Binance and Changpeng Zhao plead guilty in the US; Binance pays a $1.8 billion fine and $2.5 billion forfeiture, and Zhao resigns as CEO and pays $50 million.
- Launch.The Binance iOS app is released on the App Store.
- Launch.The Binance Android app appears on Google Play.
About the author
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