Binance Review in 2026

In brief: who Binance is for

Binance is the world's No. 1 exchange by trading volume. If maximum liquidity, a wide choice of coins and advanced instruments (futures, Earn, launchpool) matter to you, and you are in Ukraine or Kazakhstan, this is your option. ⚠️ Important: at the end of 2023 Binance left the Russian market (sold its business to CommEX), and ruble P2P is no longer available. For ruble P2P, Russian users should look at Bybit (OKX removed its ruble P2P in 2023). One more nuance: because of the wealth of features, a beginner will initially find it harder than on Bybit.

Specifications

Parameter	Value
Spot fee	~0.1% (lower with BNB)
Futures fee (taker)	~0.02–0.04%
P2P	UAH / KZT · RUB unavailable (left Russia in 2023)
Number of coins	350+
English language	Yes
Security	2FA, SAFU fund, Proof of Reserves

Pros and cons

What makes up the 4.2 rating

We rate every exchange on five criteria (methodology — CryptoChoice Score). Binance's rating is high but not maximum — it is noticeably pulled down by the unavailability of ruble P2P after the exit from the Russian market:

• P2P for the CIS — 3.5. A strength became a weakness: after leaving Russia, ruble P2P is unavailable. For Ukraine (hryvnia) and Kazakhstan (tenge) the market remains one of the largest by volume, but this scenario is closed to Russian users — and that is the main drawback for the CIS audience.
• Usability — 4.0. The interface is fully localized, the app is powerful, but because of the abundance of sections (spot, futures, Earn, launchpool, converter) a beginner will initially find it harder than on Bybit.
• Reliability — 5.0. Top of the industry: the world's largest exchange by volume, maximum liquidity, the SAFU protection fund and Proof of Reserves. In terms of resilience and market depth, Binance has virtually no rivals.
• Fees — 4.5. Among the lowest on the market: spot 0.1%, even lower when paying with the BNB token and on VIP tiers, futures around 0.02-0.04%.
• Coin selection — 4.5. 350+ liquid coins and hundreds of trading pairs, well-developed Earn and staking. There are fewer exotic micro-caps than on MEXC or Gate.io, but for liquidity of major assets it's the best market.

Availability in the CIS: the exit from the Russian market

This is the key fact you need to understand before registering. At the end of 2023 Binance announced a complete exit from the Russian market: the company sold its Russian business to a new platform, CommEX, and gradually shut down services for users from Russia. Since then, P2P trading in rubles on Binance has been unavailable, and the exchange does not provide Russian residents with full access to fiat operations.

For Ukraine and Kazakhstan the situation is different — Binance continues to operate: P2P in hryvnia (UAH) and tenge (KZT) is available, deposits and withdrawals via local payment methods, and the full range of instruments. If you are from these countries and need maximum liquidity, Binance remains one of the best options.

If you are in Russia and need to buy USDT for rubles via P2P, Binance is not suitable — choose an exchange that works with ruble P2P: Bybit (OKX also removed ruble P2P in 2023, though OKX trading itself stays available to Russian users). This is an honest recommendation: trying to bypass Binance's restrictions from Russia risks account blocking and frozen funds.

Registration and verification (KYC)

Opening a Binance account takes only a couple of minutes with an email or phone number. To unlock P2P, fiat deposits and withdrawals you must complete identity verification (KYC) with a passport and selfie. Access to fiat services depends on your country of residence, and for Russian users it stays closed after the 2023 market exit.

Registration takes a couple of minutes — you need an email or phone number. To use P2P, fiat deposits and withdrawals, you need to pass identity verification (KYC):

• Basic verification — passport and a selfie, checks usually take from a few minutes to an hour. It unlocks P2P (for UA/KZ) and the core functionality.
• Advanced — proof of address; raises withdrawal limits.

Without verification only limited crypto-to-crypto trading is available. Important: during registration Binance is guided by your country of residence — for users from Russia, access to fiat services and P2P is closed after the exchange left the market.

P2P on Binance (UA/KZ)

To buy USDT through Binance P2P, open the P2P section, choose "Buy USDT" and your currency — hryvnia (UAH) or tenge (KZT) — then pick a high-rated seller and pay directly via PrivatBank, Monobank or Kaspi. The seller's USDT sits frozen in escrow until you confirm payment. Ruble P2P is unavailable since Binance left Russia.

Binance's P2P marketplace has historically been one of the largest in the world by volume. Ruble P2P is unavailable (Binance left Russia), but for Ukraine and Kazakhstan buying USDT for fiat works like this:

1. Open the P2P section → "Buy USDT" and choose a currency — UAH (hryvnia) or KZT (tenge).
2. Filter by payment method — PrivatBank/Monobank (UA), Kaspi (KZ) — and pick a seller with a high rating.
3. Create an order — the seller's USDT is immediately frozen in the exchange's escrow, they can't take it back while the deal is in progress.
4. Transfer the money directly to the seller using the specified method and click "Paid".
5. The seller confirms receipt — the USDT from escrow is credited to you. If the seller goes silent, you open a dispute, and support resolves it in your favor if you have a payment receipt.

Safety rules: communicate only inside the exchange, don't write "crypto"/"USDT" in the payment reference, and check the recipient's name against the order details. More in the guides "What is P2P" and "How to check a P2P merchant". To emphasize once again: ruble P2P does not work on Binance — Russian users need Bybit (OKX has no ruble P2P either).

Liquidity and scale

This is the main reason Binance stays in the top at all despite leaving Russia. Binance is the world's largest crypto exchange by trading volume, and this delivers practical advantages:

• Maximum liquidity. Tight spreads and a deep order book — even large orders are filled at a fair price without slippage. For large volumes this is critical.
• Huge selection of instruments. Spot, perpetual and quarterly futures, margin trading, Earn (flexible and fixed deposits, staking), Launchpool for participating in new tokens, and an order-book-free converter.
• Deep market for large amounts. If you work with serious volumes, finding a counterparty and the liquidity you need is easier here than on any other platform.

A beginner doesn't need this whole arsenal right away — but as you grow you are unlikely to hit a ceiling of capabilities. That said, don't rush into futures: leverage amplifies both profit and loss equally.

Binance fees — breakdown

Binance keeps fees among the lowest on the market. Spot trading costs around 0.1% for both maker and taker, dropping further when you pay with the BNB token or reach VIP tiers. Futures run roughly 0.02-0.04%, and P2P is usually free for the buyer. Crypto deposits are free; withdrawals only carry the network fee.

Operation	Fee
Spot (maker / taker)	0.1% / 0.1% (lower with the BNB token and on VIP)
Futures (maker / taker)	0.02% / 0.04%
P2P for the buyer	Usually 0%
Crypto deposit	Free (you only pay the network fee)
Crypto withdrawal	Fixed network fee (depends on the coin and network)

Checked in June 2026. Rates change — verify in your Binance account. It's cheaper to withdraw on the TRC-20 network.

Deposits and withdrawals

For users in Ukraine and Kazakhstan, the primary deposit and withdrawal route is P2P in hryvnia or tenge — you swap fiat for USDT to fund the account and sell USDT back to your card to cash out. A crypto transfer from another wallet is the alternative. Ruble deposits and withdrawals are closed for Russian users.

For users from Ukraine and Kazakhstan, the main way to deposit money is P2P (fiat ↔ USDT) in hryvnia or tenge. An alternative is a crypto transfer from another wallet or exchange (you only pay the network fee). Withdrawing to fiat also goes through P2P: you sell USDT for hryvnia/tenge and receive the money to your card or account. Step by step — in the guide "How to withdraw crypto to fiat". For Russian users, ruble deposits/withdrawals on Binance are closed — use Bybit (OKX dropped ruble fiat in 2023, so you can't deposit rubles directly there either).

Security

In terms of security, Binance is one of the industry benchmarks. The exchange uses two-factor authentication (2FA), supports hardware keys and an anti-phishing code. The main user safeguard is the SAFU fund (Secure Asset Fund for Users): a reserve from which the exchange covers client losses in force-majeure situations. Binance also publishes Proof of Reserves — confirmation that client assets are backed by reserves 1:1.

The general rule still doesn't change: large amounts are safer kept in your own personal wallet, and you should leave only what you actively trade on the exchange. No exchange, even the world's largest, can replace your own cold wallet for long-term storage.

Who Binance is for — and who it isn't

Binance fits traders in Ukraine and Kazakhstan who want maximum liquidity, the widest range of instruments and a deep market for large volumes — ideal for experienced users. It's a poor fit for Russian users needing ruble P2P, and beginners wanting simple deposits and an all-in-one interface may start more easily on Bybit.

It's worth choosing if you are from Ukraine or Kazakhstan and maximum liquidity, a wide choice of instruments (futures, Earn, launchpool) and a deep market for large volumes matter to you. It's the best platform for experienced users and those who trade serious amounts.

It's worth looking for an alternative if you are in Russia and need ruble P2P — Binance left Russia, ruble P2P is unavailable, choose Bybit (OKX no longer offers ruble P2P). Also, a beginner who wants simple ruble deposits and the most intuitive all-in-one interface will find it easier to start with Bybit.

Bottom line

Binance is the absolute leader in liquidity and range of instruments, and for users from Ukraine and Kazakhstan it remains an excellent choice. But the honest conclusion for the CIS audience is this: after leaving the Russian market in 2023 Binance lost ruble P2P, and for Russian users this is the decisive drawback. If you are in Russia and need to buy USDT for rubles, start with Bybit (OKX has no ruble P2P), and keep Binance as a second exchange for a better rate and instruments. Compare the platforms in the article Bybit or Binance.

Frequently asked questions

Does Binance work in Russia?

No. At the end of 2023 Binance left the Russian market, selling its business to the CommEX platform. Full access to fiat services and ruble P2P for users from Russia is closed. For ruble P2P, Russian users should look at Bybit — OKX removed its ruble P2P in 2023 too.

Which currencies does P2P on Binance work in?

For users from Ukraine (hryvnia, UAH) and Kazakhstan (tenge, KZT) P2P works. Ruble P2P (RUB) is unavailable after the exchange left Russia.

Is verification (KYC) required?

Yes. Without identity confirmation, P2P, fiat deposits and withdrawals are unavailable — this is the standard for all major exchanges. Access to fiat services depends on the country of residence.

What are the fees and what does the BNB token give?

Spot is around 0.1%, futures roughly 0.02-0.04%. When paying the fee with the BNB token, the spot rate is reduced, and on VIP tiers the rates are even lower. P2P is usually free for the buyer.

To compare Binance with other exchanges, see the general crypto exchange comparison.