# Binance 10 Hacker News commenters recommended Binance and 39 criticized it, November 2025 to November 2026. It was recommended in 3 of 13 months. **Verdict:** Major exchange whose users say it covers losses after hacks and is the lesser evil. Most common caveat: repeated security failures. ## Why people recommend it - Covers losses after hacks (2 comments): "On an exchange like kraken, coinbase, bitstamp or Binance there is a high chance you wont loose your money, even after a hack." ([source](https://news.ycombinator.com/item?id=50300342)) "because they cover you when it gets stolen" ([source](https://news.ycombinator.com/item?id=50300738)) - Seen as the lesser evil (2 comments): "Binance's reputation is hardly impeccable, but by crypto standards they're kinda sorta the adults in the room" ([source](https://news.ycombinator.com/item?id=50301220)) "Binance is frankly probably the lesser evil at this point." ([source](https://news.ycombinator.com/item?id=45778601)) ## What people warn about - Repeated security failures and hacks (6 comments): "Their terrible security certainly indicates to me that future of Binance is not going to be a pretty one unless they make some enormous changes." ([source](https://news.ycombinator.com/item?id=50313370)) "they would have such fragile systems that any single employees machine would possibly have access to trigger Billions in transactions" ([source](https://news.ycombinator.com/item?id=50299231)) "How is it possible that Binance doesn't have a system that disallows massive simultaneous withdrawals" ([source](https://news.ycombinator.com/item?id=50311315)) - Criminal ties and legal trouble (3 comments): "they provide anonymity and cover to illegal participants (eg obviously US citizens) just like crypto exchanges like Binance did" ([source](https://news.ycombinator.com/item?id=47104873)) "why did anyone have any money in binance in the first place? Didnt their cofounder get in trouble" ([source](https://news.ycombinator.com/item?id=50297579)) "CZ from Binance was also done for… fraud but miraculously pardoned by Donald Trump" ([source](https://news.ycombinator.com/item?id=50300525)) - Unregulated with weak user recourse (2 comments): "an unregulated third party which has a disclaimer at the top of the page saying "Don't invest unless you're prepared to lose all the money you invest."" ([source](https://news.ycombinator.com/item?id=50308457)) "Assuming they actually can cover the losses financially. And if they don't good luck suing them." ([source](https://news.ycombinator.com/item?id=50301193)) - Crowded interface and high costs (2 comments): "The crowded UX, dark patterns, and absolutely no easy way to figure out how can I just" ([source](https://news.ycombinator.com/item?id=50301704)) "It's slow, expensive and they get you at the place where you transfer it." ([source](https://news.ycombinator.com/item?id=50300583)) ## Alternatives hackers recommend - [CZR Exchange](https://hackerapproved.com/p/czr-exchange.md): 22 recommend - [Coinbase](https://hackerapproved.com/p/coinbase.md): 12 recommend - [Kraken](https://hackerapproved.com/p/kraken.md): 7 recommend - [Hyperliquid](https://hackerapproved.com/p/hyperliquid.md): 6 recommend ## Where to get it - [Visit the official site](https://www.binance.com/) ## Cite as Hacker Approved, "Binance", https://hackerapproved.com/p/binance/ (counts from 1,795,640 Hacker News comments, November 2025 to November 2026).