When Binance first start it didn't have highest trading volume and IEO yet. What they had at that time, easy to use and friendly website designed, trading terminal, enthusiast support team, good strategies. I remember that time Polinex and Bittrex were biggest exchanges, they refused my KYC dozens times, while Binance completed it in a day. Because of that, now Binance is the biggest exchange.
Binance KYC is the best here. It's almost instant as long as requirements are met. KYC verification isn't also compulsory, it's only needed for increasing daily limit and withdrawals of fiats
Which could change any day with laws being enforced worldwide.
You
can't trust Binance. It's been hacked once, and it's likely happening again when you least expect it. CZ himself is afraid of DEX's as they are
TRUSTLESS - Meaning you don't need to trust anyone when you trade as you're in position of your own private keys at all times. Simple.
There's a reason why Binance tried to steal Blocknet's DEX ideas and source code back in 2018 when Blocknet applied to be listed at Binance.
I'd much rather trade on the Blocknet DX platform and support it, than a scummy exchange like Binance in the fault of trying to compromise the Steem DPOS blockchain through "stealing" votes on the blockchain using other people's funds.