Question 1

Can Indians use Binance legally?

Accepted Answer

Yes. Binance is accessible to Indian users and is registered with India's Financial Intelligence Unit (FIU-IND). All trades are subject to Indian tax rules — 30% flat tax + 1% TDS.

Question 2

Does Binance handle TDS for Indian users?

Accepted Answer

Binance deducts TDS on qualifying transactions for Indian users. However, you should verify your TDS certificate and cross-check with Form 26AS annually. For large volumes, consult a CA.

Question 3

Why does Binance have better liquidity than Indian exchanges?

Accepted Answer

Binance is the world's largest crypto exchange by volume with millions of global users. This means tighter spreads (difference between buy and sell price) and less slippage on large orders versus Indian-only exchanges.

Question 4

How do I deposit INR on Binance?

Accepted Answer

Binance supports INR deposits via UPI and bank transfer through its P2P marketplace and selected third-party payment partners. Go to Wallet → Fiat and Spot → Buy Crypto → INR.

Question 5

What are Binance trading fees for Indians?

Accepted Answer

Binance charges 0.10% maker/taker fee for standard users. Holding BNB gives up to 25% fee discount. Volume discounts start at $1M monthly trading volume.

Question 6

Is my money safe on Binance?

Accepted Answer

Binance maintains a Secure Asset Fund for Users (SAFU) worth over $1 billion as an emergency insurance fund. It uses cold storage for the majority of user funds and has 2FA, address whitelisting, and anti-phishing codes.

Maker Fee	0.10%
Taker Fee	0.10%
INR Deposit Methods	P2P (UPI/Bank), Card (limited)
INR Withdrawal Fee	Via P2P only
Crypto Withdrawal Fee	Network fee varies
KYC Required	Yes — mandatory
TDS Handling	⚠️ Manual — you must self-report

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