Data reportTrust
Is Binance safe? What the official record shows — and what it does not
We do not score safety. This report lists what Binance’s official sources show, how that compares with 20 exchanges, and what we could not confirm.
Published byGrace Hsu
Data reviewed byJason Lee About us → Key takeaways
- Binance’s proof-of-reserves report for September 2026 shows reserve ratios of BTC 100.16%, ETH 100%, USDT 102.91%. No third-party auditor is named, so the figures are the exchange’s own disclosure.
- Binance runs the SAFU. Its value was about $1B in February 2026. Binance commits to keeping it above $800M.
- Licenses and registrations: 6 recorded (Abu Dhabi (ADGM), UAE, Dubai, UAE, France, Italy, Lithuania, Bahrain). The median across 17 exchanges with confirmed data is 2.
- KYC: identity verification is mandatory.
- Security incidents: 1 recorded (2019).
01Reserves: BTC 100.16% · ETH 100% · USDT 102.91%
Binance’s proof-of-reserves report for September 2026 shows reserve ratios of BTC 100.16%, ETH 100%, USDT 102.91%. Reports began in November 2022.
The report uses zero-knowledge proofs, so users can check that their balance is included without other balances being revealed. No third-party auditor is named, so the figures are the exchange’s own disclosure.
A ratio above 100% means the reported reserves exceed the reported user balances for the covered assets. It is a snapshot published by the exchange itself.
Source: Binance
02Protection fund: $1B
Binance runs the SAFU. Its value was about $1B in February 2026. Binance commits to keeping it above $800M.
Source: Binance
03Licenses: 6 recorded, against a median of 2
Our data records 6 licenses or registrations for Binance: Abu Dhabi (ADGM), UAE, Dubai, UAE, France, Italy, Lithuania, Bahrain. Across 17 exchanges with confirmed data, the median is 2.
A registration is not the same as full regulation of every product. Each entry links to the official source it was recorded from.
Source: CEX Compare, from official exchange sources (checked 2026-10-28)
04How Binance compares
Proof of reserves does not set Binance apart: all 16 exchanges with confirmed data publish one. A user protection fund is recorded at 16 of 17.
| Item | Binance | Across 20 exchanges |
|---|---|---|
| Proof of reserves | Yes | 16 of 16 confirmed |
| User protection fund | Yes | 16 of 17 confirmed |
| Licenses & registrations | 6 | Median 2 (17 confirmed) |
| KYC required | Yes | 17 of 20 confirmed |
| Recorded security incidents | 1 | Median 1 (10 confirmed) |
Source: CEX Compare, from official exchange sources (checked 2026-10-28) · Share of the 20 exchanges on this site with a confirmed value. No weighting and no overall verdict — see methodology.
05What we could not confirm
- An independent auditor for the reserve report — none is named.
Figures checked 2026-10-06
06Fees in context
Binance’s base spot taker fee is 0.100% — 3 of 20 exchanges charge less and 8 charge the same. Its futures taker fee is 0.050%, with 4 of 17 charging less.
Spot taker
20 of 20 confirmedFutures taker
17 of 20 confirmedSource: CEX Compare, from official exchange sources (checked 2026-10-28)
Frequently asked questions
Is Binance regulated?
Binance holds 6 recorded licenses or registrations: Abu Dhabi (ADGM), UAE, Dubai, UAE, France, Italy, Lithuania, Bahrain. Each applies only to its own jurisdiction.
Does Binance have proof of reserves?
Binance’s proof-of-reserves report for September 2026 shows reserve ratios of BTC 100.16%, ETH 100%, USDT 102.91%.
Does Binance have a user protection fund?
Binance runs the SAFU. Its value was about $1B in February 2026. Binance commits to keeping it above $800M.
Does Binance require KYC?
Yes. Binance requires identity verification (KYC) before trading.
Every answer is generated from the values above and their official sources — nothing is added that the data does not show.
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About this report
This report is built only from the verified figures on this site. Every number links to an official source, and the data is reviewed by Jason Lee. It is information, not investment advice. About us →