What is Binance?

Binance is a centralized platform that provides crypto trading services. Its spot market matches purchase and sale orders and records balances in user accounts. An exchange balance is a different custody arrangement from a personal wallet whose private keys the user controls.

The exchange, BNB and regional platforms

Binance is the platform name. BNB is a crypto asset used for purposes including eligible exchange fee payments and activity in the BNB Chain ecosystem. Buying BNB does not purchase shares in the company or create an exchange account. The token’s economics belong to a separate analysis.

Binance.US and Binance TR are not merely language settings for Global. They have separate accounts and service conditions. Binance.US describes its U.S.-focused platform, while Binance TR describes its Turkish-lira services. English-language use alone does not establish Global eligibility.

Example

Alex, living in an eligible jurisdiction, has 100 USDT in a Binance Global account. Assume USDT is worth $1 for this example. Alex submits a $20-equivalent BTC/USDT spot purchase. If it fills, the account shows Bitcoin after the applicable fee. The Bitcoin has not automatically moved to Alex’s personal wallet; that requires a separate withdrawal. Buying BNB is not a required step in the example.

A marketplace with customer accounts is a useful analogy, but it has a limit: access to assets recorded in the account depends on the platform’s operations. Our Binance review uses actual screens to explain the practical implications of order controls and fees.