Binance.US: A Secure and Reliable Crypto Platform in the US
Last updated: January 1, 2023
What is Binance.US?
Binance.US is the leading digital asset platform in the US, offering a secure and reliable way to buy, sell, trade, convert, and stake cryptocurrencies. With some of the lowest fees in the industry and high staking rewards, Binance.US provides access to over 150 popular cryptocurrencies.
Binance.US started up in September 2019 and followed US rules. It is a separate legal entity from its partner, Binance.com, but they both use the same brand and technology. Headquartered in California, Binance.US is dedicated to serving US consumers. Intrigued to learn more? Please read this blog post, where I will explain how Binance.US can benefit you by providing access to a wide variety of cryptocurrencies, competitive trading fees, and a user-friendly platform.
The company profile of Binance.US
With over 300 full-time employees, Binance.US has become a preferred choice for millions of users in 46 states, Puerto Rico, Guam, American Samoa, and Washington D.C. The company is also expanding its services to TX, NY, VT, HI, and six other territories.
Binance.US has put a lot of money into hiring talented people. It has hired people with experience from the DOJ, SEC, and New York Federal Reserve Bank, and it has hired top consulting firms. The company has a strong leadership team, ensuring that it continues to grow and provide top-notch services to its customers.
The executive team of Binance.US
The executive team of Binance.US has recently been announced to the public. It includes a talented and experienced group of professionals who bring a wealth of knowledge and expertise to the company. The team consists of the following:
Brian Shroder, CEO and President - a seasoned leader with a proven track record of driving growth and innovation in the industry.
Sidney A. Majalya, Chief Risk Officer - a seasoned risk management professional who brings a wealth of experience in financial services to the team.
BJ Kang, Head of Investigations - a former FBI agent with a decorated career in law enforcement who will ensure the integrity of the platform and its users.
Tammy Weinrib, Chief Compliance Officer - a highly experienced compliance professional who brings expertise in regulation and risk management to the company.
Norman Reed, General Counsel - a seasoned lawyer who brings extensive experience in legal and regulatory compliance to the company.
Krishna Juvvadi, Vice President and Head of Legal - a highly experienced lawyer who will be responsible for managing all legal matters for the company.
Jasmine Lee, Chief Financial Officer - a seasoned finance professional who brings a wealth of experience in financial management to the company.
Carol MacKinlay, Chief People Officer - a seasoned HR professional who brings expertise in human resources and talent management to the company.
This talented and experienced executive team will lead Binance.US to new heights, delivering innovative products and services that meet the evolving needs of its customers.
The digital assets of Binance.US
Binance.US has a complete portfolio of digital assets that includes more than 150 of the most popular cryptocurrencies in the world. With over 300 trading pairs and over 5,000 conversion options, traders can choose from a wide range of investment opportunities.
The low trading fees of Binance.US
At Binance.US, access to cryptocurrency trading should be affordable for everyone. That is why Binance.US offers some of the lowest fees in the industry, making it easier for you to trade the digital assets you love.
Binance.US made history by becoming the first major US crypto exchange to offer ZERO fees on spot trading pairs for Bitcoin (BTC) and Ethereum (ETH), which are available to all users. This allows you to trade without worrying about high fees, making your trading experience smoother and more profitable.
Binance.US: The user-friendly cryptocurrency exchange with cost-saving functionality
Binance.US offers a user-friendly interface, similar to other popular exchanges like Coinbase, making it easy for users to buy and sell cryptocurrencies using US dollars. However, it is important to note that a 0.5% fee is applied to each transaction.
Previously, Binance.US had a flat 0.1% fee on spot trades, but the exchange recently announced that it will no longer charge spot trading fees on Bitcoin. This allows users to make free spot bitcoin trades for the US dollar and stablecoins such as Tether, USD Coin, and Binance USD. Other tokens still incur a 0.1% spot trade fee, but Binance.US plans to eliminate fees for more tokens in the future.
Spot trading means exchanging your US dollars for cryptocurrency via a market or limit order, with a market order executing the trade at the current market price and a limit order executing the trade at a specific price. Bitcoin trades on Binance.US are free from maker or taker fees, while other tokens incur a 0.1% spot trade fee.
Investors can potentially save significantly by using Binance.US compared to other exchanges. For example, purchasing $100 in Bitcoin on Coinbase would result in a net of $96.51 due to fees, whereas on Binance.US, the full $100 would be spent as there are no transaction fees. However, it is important to note that even if you buy Bitcoin outright using US dollars on Binance.US, you will still be charged a 0.5% fee.
To further reduce transaction costs, Binance.US offers a 25% discount for users who pay their transaction fees using Binance Coin (BNB). Simply holding Binance Coin in your Binance.US account will result in the trading fee being automatically deducted from your Binance Coin balance.
While fee structures should be taken into consideration, it is also important to consider factors such as security and usability when choosing an exchange. The savings from using Binance.US can add up over time when using the dollar cost averaging method, but it may be worthwhile to pay more in fees for premium functionality.
The Web3 products and services of Binance.US
Binance.US has a full set of Web3 products and services that are made to meet the needs of cryptocurrency users today. Its offerings include:
Staking: As the largest on-chain staking provider in the U.S., Binance.US offers some of the highest annual percentage yields (APYs) among major U.S. crypto exchanges. All assets are securely staked from cold storage, with rewards earned and passed on to customers through blockchain validation, free from any leverage or loan structures.
Pay: Send, request, and receive crypto with ease, all without incurring any fees. With its instant crypto transfer feature, you can quickly move funds without waiting for confirmation.
Convert: With its crypto conversion feature, customers can quickly and easily exchange one cryptocurrency for another or U.S. dollars, making it easy to manage your portfolio and take advantage of market fluctuations.
Buy and Sell: You can buy and sell cryptocurrencies for as little as $1, making it easy for anyone to get started with crypto.
Advanced Trading: Trade 150 of the world’s most popular cryptocurrencies through a professional, user-friendly interface. Whether you are an experienced trader or just getting started, you will find everything you need to trade confidently.
Over the Counter (OTC): Request quotes for large trades, allowing you to trade big confidently.
NFT Wallet: Its NFT wallet offers users exclusive souvenir NFTs and the chance to unlock unique rewards, making it the perfect place to store and showcase your digital assets.
With Binance.US, you can be confident that you are getting the best products and services and the security and stability you need to make the most of your cryptocurrency investments.
The customer-centric governance structure of Binance.US
Binance.US wants to ensure the safety and security of its customers’ assets by providing them with a governance structure focused on their needs. Its cash management processes are transparent and secure, making it impossible for any senior executive to move funds without authorization. Binance.US is proud to note that customer-owned crypto assets are not reflected on its balance sheet, following GAAP standards for privately-held companies.
Binance.US is well-capitalized, and its assets consistently exceed its liabilities, ensuring that its customers can withdraw their funds at any time without affecting the company’s solvency. Its strict adherence to 1:1 reserves and regular audits by leading private and government entities provide further assurance of the security of its customers’ funds.
Binance.US takes pride in its industry-leading security program that protects its customers’ assets. It does not engage in any activities that could put customers’ funds at risk, including a strict "no-touch" policy on customer assets, no proprietary trading, no lending or margin offerings, and no corporate debt.
At Binance.US, its commitment to its customers is unwavering. It will always prioritize customer safety and security and never compromise their trust.
The world-class compliance standards of Binance.US
With a focus on keeping the highest compliance standards, Binance.US has put a lot of money into its compliance program over the past year. This has led to a 145% increase in staff and a 200% increase in budget. The platform is fully registered with FinCEN and holds 43 money transmitter licenses in the U.S., with more in the pipeline.
Binance.US’ compliance policies are subject to regular review by U.S. state regulators and are continuously updated to ensure the highest level of security for all users. All Binance.US users undergo a thorough screening and validation process, including Know Your Customer and Anti-Money Laundering controls that meet the standards of the leading financial institutions.
To further enhance security, Binance.US has a dedicated Financial Intelligence Unit that partners with the world’s leading blockchain analytics companies to detect and prevent fraud and illicit activity on the platform. With a commitment to providing world-class compliance, Binance.US ensures the safety and security of its users and their investments.
The partnerships and technology of Binance.US
In the past year, Binance.US has made significant strides in enhancing its technology and partnerships to stay ahead of the curve. With the integration of top-notch solutions such as Prove, Chainalysis, and TRM Labs, Binance.US can offer the highest level of customer identity verification and fraud analysis. Moreover, by partnering with LexisNexis, Jumio, and Plaid, Binance.US has provided cutting-edge technologies and analytics for sanctions screening, customer verification, and risk management.
Additionally, Binance.US is part of the TRUST consortium, led by Coinbase, which works to ensure compliance with the Travel Rule. Through these partnerships and technology solutions, Binance.US is dedicated to delivering the best possible experience for its customers.
Binance.US: A leader in cutting-edge technology and unmatched security
At Binance.US, Binance.US is dedicated to delivering a seamless and secure trading experience to its users. Its advanced user interface and innovative trading features, combined with the ability to process a staggering 1.4 million orders per second, set us apart in the industry.
Binance.US takes security and compliance seriously, which is why Binance.US has implemented strict measures to ensure the safety of its users’ data. Its 99.99% uptime across all platforms, including web, app, API, and watchOS, provides a reliable and uninterrupted trading experience.
Its compliance framework is robust, including KYC checks, AML screens, on-chain monitoring, trade surveillance, and risk management, to name a few. In addition, Binance.US has completed SOC 2 certification, a rigorous security assessment that validates the security, confidentiality, processing integrity, availability, and privacy of all customer data on its platform.
Binance.US also meets the Payment Card Industry Data Security Standards (PCI DSS), which means that the credit card information of its customers is safe. Its real-time monitoring system provides an extra layer of protection, monitoring all withdrawal and deposit attempts, 2FA or password resets, and any changes to phone numbers, email addresses, or devices. Binance.US will suspend withdrawals for up to 48 hours if any suspicious activity is detected.
Your funds and assets are in safe hands with Binance.US. Almost all customer assets are stored in offline, cold storage facilities to prevent unauthorized access, hacks, and the common vulnerabilities of cloud storage. The rest remains in circulation to support daily transactions, ensuring fast and efficient trading.
With a flawless track record of no security breaches since inception, Binance.US is a leader in the industry, delivering a cutting-edge and secure trading experience to its valued customers.
The trading volume of Binance.US
Binance.US boasts a robust 24-hour trading volume averaging USD 350 million, solidifying its position as a leading player in the digital asset market. Since its launch in 2019, Binance.US has accumulated a staggering total trading volume of over $350 billion, demonstrating its continued growth and popularity among investors.
The retail and institutional investors of Binance.US
At Binance.US, Binance.US proudly caters to retail and institutional investors. While 70% of its business is made up of institutional investors, Binance.US is dedicated to providing top-notch services to all of its clients. To reward its select participants, Binance.US recently launched a Market Maker Rebate program, which offers lucrative rebates.
Moreover, Binance.US has partnered with Anchorage Digital to enhance its capital efficiency and provide its clients with a seamless trading experience. Its “Express Trade” feature allows clients to place orders directly from its Anchorage Digital vaults. At the same time, API integration will enable clients to access their balances, place a hold on assets, and sweep assets for settlement within specified vaults.
With this partnership, Binance.US has eliminated the need for pre-funding, reduced counterparty risk, and increased capital efficiency and speed. Its clients can also access Anchorage Digital Financing, which allows them to borrow instantly available funds for trading on Binance.US.
Binance.US is committed to delivering an exceptional trading experience and maximizing its clients' opportunities for growth and success.
The customer experience of Binance.US
Binance.US is committed to delivering exceptional customer experiences, and this dedication is evident in its results. By 2022, Binance.US will have significantly improved its customer service, with a wait time reduction of over 90% and a resolution time reduction of 85%. The customers of Binance.US can access 24/7 support through its email and live chat channels, ensuring quick and effective assistance whenever they need it.
The seed round of Binance.US
Binance.US has successfully closed its seed round, raising a staggering $200 million in April 2022. The company’s remarkable growth and innovative solutions garnered the attention of prominent investors, who were eager to participate in the Round. As a result, Binance.US’s valuation reached a remarkable $4.5 billion.
The investors in this seed round were a diverse group of early-stage venture capitalists and crypto-native firms, such as RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures. These firms recognized the potential of Binance.US and its solutions, which are poised to revolutionize the financial industry.
Binance.US is now setting its sights on going public and is targeting an IPO within the next 2-3 years. With solid backing from top-notch investors and a team of talented individuals, the company is well-positioned to achieve its goals and make a significant impact in the financial industry.
What ranks does Binance.US hold?
Binance.US has received numerous accolades for its excellence in the cryptocurrency exchange industry. It was named the "Best Overall Crypto Exchange" by Forbes Advisor in 2021 and 2022 and was honored with the title "Best Exchange for Low Fees" by Money’s Best in 2022.
What distinguishes Binance.US?
Binance.US offers a secure and reliable platform for crypto transactions, making it a top choice for customers who prioritize the protection of their assets. With a governance structure focused on customer needs and transparent cash management processes, Binance.US ensures the safety and security of customer funds.
The platform is well-capitalized, with assets consistently exceeding liabilities, allowing customers to withdraw their funds at any time. Binance.US upholds strict adherence to 1:1 reserves and undergoes regular audits from leading private and government entities, further bolstering the security of customer assets.
In addition, the company has an industry-leading security program in place and does not engage in activities that could put customer funds at risk. Their commitment to providing a safe and secure platform for their customers is unwavering, making them a trustworthy and reliable choice for crypto transactions.
Why is Binance.US a smart choice?
Binance.US supports over 130 cryptocurrencies. Even though this is fewer cryptocurrencies than parent company Binance offers to users abroad, it should still cover the majority of cryptocurrencies a person may be looking to trade.
Additionally, 19 different cryptocurrencies can be staked on Binance.US, including Ethereum, Cardano (ADA), Polkadot (DOT), Polygon (MATIC), Solana (SOL), and The Graph (GRT), with yields of up to 12.5% APR (APY).
Staking is the practice of using cryptocurrency assets as collateral to facilitate the creation of a coin’s blockchain in order to generate passive income.
Forbes Advisor’s list of the best staking platforms includes Binance.US as one of the top exchanges.
Furthermore, Binance.US has high-security ratings as well as ultra-low fees. In fact, there is no cost at all to trade some Bitcoin (BTC) pairs. This simple platform is an excellent option among the world’s many crypto exchanges for users based within the company’s jurisdictions.
Binance.US vs Binance
While Binance.US is a popular platform for cryptocurrency trading, it has a few limitations that users should be aware of. Firstly, the educational resources offered by the platform are not as comprehensive as those of its parent company, Binance. This can make it more challenging for beginners to navigate the market and make informed trading decisions.
Additionally, Binance.US offers a more limited selection of cryptocurrencies compared to its parent company in other countries. This can limit investment opportunities for users who are interested in a wider variety of assets.
It is important to keep in mind that investing in cryptocurrencies is inherently risky. The market is highly speculative and can be impacted by even minor news events, making it subject to high volatility. However, for those who are looking for a platform to invest in cryptocurrencies, Binance.US still provides a solid offering that should meet most of their needs.
What coins are available on Binance.US?
Even though Binance.US does not offer the full list of more than 350 cryptocurrencies that are available on its parent company, Binance, does, it still gives traders access to more than 130 popular digital assets, which makes for a more diverse investment portfolio.
A list of some of the popular cryptocurrencies traded on Binance.US is provided below:
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
Cardano (ADA)
Solana (SOL)
Dogecoin (DOGE)
Polkadot (DOT)
Polygon (MATIC)
TRON (TRX)
The security measures of Binance.US
Binance.US offers its users a secure platform for buying, selling, and storing cryptocurrencies, though specific details about its safety measures are limited. The exchange states on its homepage that “We use cutting-edge storage technology to protect your cryptocurrency and USD assets,” and according to a blog post by Binance.US, the “vast majority” of user funds are stored in offline, cold storage facilities.
However, the exact proportion of assets kept in cold storage is not publicly disclosed, and attempts to reach out to the Binance.US support desk were unsuccessful without an account. While Binance.US does not offer an internal wallet, it does have a partnership with Trust Wallet, a popular hot wallet option. Users also have the option to withdraw their coins and store them in their own hot or cold storage system, though this may incur a fee.
Information about Binance.US’s FDIC-insured accounts has been removed from its website, and the exchange did not respond to our request for further information about its security measures.
It is important to note that while Binance, the international version of the exchange, compensated its users for all losses resulting from a $40 million hack in 2019, this does not guarantee the same protection in the event of a Binance.US hack. As always, it is crucial for users to do their own research and assess the security measures of an exchange before making a decision.
OTC Trading on Binance.US
Binance.US OTC trading offers a solution for traders who are looking to trade large amounts of cryptocurrencies or assets in a secure and private manner. By leveraging the OTC (over-the-counter) market, Binance.US provides a direct, customizable transaction between two parties, thereby avoiding the public order book and reducing market risks.
With a deeper liquidity pool, Binance.US OTC trading ensures that traders can transact large amounts without disrupting the market and experiencing price slippage. Overall, Binance.US OTC trading is an ideal option for traders who value privacy and security in their trades.
Staking on Binance.US
Take advantage of the opportunity to earn rewards by holding supported cryptocurrencies, such as VET, XTZ, ATOM, and ALGO, in your Binance.US account through the process of staking. As a Binance.US user, you can earn up to 6.5% annually while still being able to trade at your convenience.
Binance.US Blog
Stay informed and up-to-date with the latest industry insights through Binance.US Blog. This comprehensive platform offers a wealth of knowledge on all things cryptocurrency, from blockchain and crypto-economics to security and beyond. Perfect for both seasoned and novice investors, Binance.US Blog serves as a single source for all your cryptocurrency information needs.
The tax portal of Binance.US
To help its users simplify the process of filing their cryptocurrency taxes, Binance.US has launched a free tax portal. The portal provides users with a comprehensive view of their transaction history and allows them to sync their cryptocurrency activity with most third-party platforms, excluding TaxBit.
To assist users in generating, exporting, and downloading their transaction history, the tax portal offers two powerful tools: the Export Statement Tool and the Tax API Key Tool. The Export Statement Tool empowers users to create and download their transaction history, while the Tax API Key Tool directly shares crucial cryptocurrency transaction data with authorized parties.
Binance.US on Trustpilot: A mix of positive and negative feedback
Binance.US has received mixed reviews on Trustpilot, with an average rating of 1.3 out of 5 stars. The platform has its fair share of both praise and criticism. On one hand, some users highlight its affordable fees and advanced trading features, which cater to experienced traders. On the other hand, numerous complaints have been made about technical issues, such as wallet malfunctions and account lockouts.
It is important to note that user reviews are subjective and may not accurately reflect the experiences of the broader user base. Some negative reviews may come from inexperienced traders, while more seasoned traders may have a more favorable view of the platform. As with any review platform, it is wise to consider multiple sources and assess for yourself before making a decision.
How to open a Binance.US account
Creating an account on Binance.US is a straightforward process that only requires a password and email. Once you have verified your email, your basic account will be set up.
However, in order to fully participate and trade on the platform, it is necessary to complete the account verification process. This process may require you to provide personal information such as your name, address, government identification photo, and contact information. To verify your address, a utility bill or bank statement may also be required. It is important to note that the verification process may take several days, so it is wise to plan accordingly.
The pros of Binance.US
✔️ Low fees, especially when compared to its main competitors
✔️ A wide range of cryptocurrencies is supported. About 125 cryptocurrencies are available.
✔️ Trading platforms that are simple to use for users of all levels of crypto experience
✔️ Allows for staking
✔️ Trading fees are minimal or non-existent. If you pay your trading fees with Binance Coin, you will receive a 25% discount (BNB)
✔️ The technology used by Binance.US is the same as that used by Binance, which processes 1.4 million orders per second.
✔️ Binance.US has provided its customers with high liquidity since the platform’s inception.
✔️ Excellent customer service — Binance.US provides superior customer service to the original. After all, it is based in the United States, where "the customer is always right."
✔️ Excellent reputation. Binance is well-known for paying close attention to user security and for constantly innovating.
✔️ There are educational resources available.
✔️ The stringent procedure for verifying the identity
✔️ Tax statement portal to aid in the preparation of crypto taxes
The cons of Binance.US
❌ Not available to all residents of the United States
❌ In 2019, the parent company was the victim of a major hack.
❌ There are fewer crypto-to-crypto currency pairs than on the global Binance site.
❌ There is a smaller selection than on the global Binance platform.
❌ Binance.US currently does not provide services in New York due to a lack of regulatory requirements mandated by the state. Alaska, Alabama, Connecticut, Georgia, Florida, Hawaii, Louisiana, North Carolina, Idaho, Vermont, Washington, and Texas are also affected. However, Binance.US is working to get people in these 13 states ready to trade.
❌ A minimum trade of $10 is required on Binance.US.
❌ The platform faced regulatory scrutiny in the past
What are the top alternatives to Binance.US?
Coinbase
Kraken
Gemini
Bitstamp
eToro
Binance.US or Coinbase: Which one is a more secure and reliable crypto platform in the US?
When it comes to cryptocurrency exchanges in the US, Binance.US and Coinbase are two of the most popular platforms. When evaluating which platform to use, it is essential to consider factors such as security, trading fees, user experience, liquidity, and the range of cryptocurrencies to determine which platform is best suited for what you need.
Security: Both Binance.US and Coinbase have robust security measures to protect their users’ funds. Coinbase has never been hacked, and 98% of its funds are stored in cold storage. Binance.US, on the other hand, has a Secure Asset Fund for Users (SAFU) that reimburses users in the event of a security breach.
Trading fees: Binance.US has a lower trading fee than Coinbase. Binance.US charges a 0.1% trading fee for both makers and takers, while Coinbase charges a variable fee ranging from 0.5% to 4.5% depending on the transaction type and payment method.
User experience: Both Binance.US and Coinbase offer user-friendly platforms. Binance.US has a clean and intuitive interface that is easy to navigate, while Coinbase offers a sleek and simple design that is user-friendly for beginners.
Liquidity: Binance.US has higher liquidity than Coinbase. Binance.US offers a wide range of trading pairs and has a high trading volume, resulting in better liquidity for its users. Coinbase has a limited range of trading pairs, which may result in lower liquidity.
Range of cryptocurrencies: Binance.US offers a broader range of cryptocurrencies than Coinbase. Binance.US has more than 50 cryptocurrencies available for trading, including many popular altcoins. Coinbase, on the other hand, only offers a limited number of cryptocurrencies, although it has recently added more coins to its platform.
It can be said that both Binance.US and Coinbase have their strengths and weaknesses. Binance.US is more suitable for experienced traders who require a broader range of cryptocurrencies and more trading pairs, while Coinbase is better for beginners due to its user-friendly interface and ease of use. In terms of security, both platforms have robust measures in place to protect users’ funds, so users can trust them equally. When it comes to trading fees, Binance.US is more cost-effective, while Coinbase is more expensive.
Is Binance.US the right platform for you?
Binance.US offers a comprehensive and user-friendly platform for crypto enthusiasts, traders, and investors. The platform’s ease of use and low trading fees make it a popular choice for those looking to trade crypto. Additionally, its professional trading interface, staking rewards, the ability to request quotes for large trades, and stringent security measures offer a wealth of options for users to grow and manage their portfolios.
With a vast array of trading pairs, quick account setup, and dedicated support, Binance.US provides a one-stop shop for all your crypto needs. Whether you are a seasoned trader or just starting out, Binance.US is a platform that is well worth considering.
Frequently asked questions or FAQs I Binance.US
What is Binance.US and how does it work?
Binance.US is a digital asset marketplace where users can buy, sell, and trade cryptocurrencies. It is a US-based subsidiary of Binance, a global cryptocurrency exchange.
Binance.US offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, as well as other altcoins. Users can fund their accounts with USD, and then use that to buy or sell cryptocurrencies on the platform. Binance.US charges a fee for each transaction, which varies based on the size and type of the transaction.
How do I create an account on Binance.US?
To create an account on Binance.US, go to the Binance.US website and click the “Register” button. Enter your email address and create a password.
You will receive a verification email to confirm your email address. Once your email is verified, you can complete the registration process by providing personal information and documents for verification. After the verification process is complete, you can fund your account and start trading on Binance.US.
What cryptocurrencies are supported by Binance.US?
Binance.US supports a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), and many more. The exact list of supported cryptocurrencies is subject to change, and the most up-to-date list can be found on the Binance.US website.
How do I buy or sell cryptocurrencies on Binance.US?
To buy or sell cryptocurrencies on Binance.US, you need to create an account and complete the necessary KYC (Know Your Customer) verification. Once your account is verified, you can deposit funds using a bank transfer, wire transfer, and ACH transfer. Then, you can navigate to the “Trade” tab and select the cryptocurrency you wish to buy or sell. You can place a market or limit order, and once the order is filled, the cryptocurrency will be credited or debited to your account.
What are the fees associated with trading on Binance.US?
Binance.US charges a trading fee of 0.1% for each trade, which is deducted from the base currency or the cryptocurrency you are buying or selling. There are no fees for depositing cryptocurrencies into your Binance.US account, but there are fees for withdrawing cryptocurrencies. The withdrawal fees vary depending on the cryptocurrency being withdrawn. You can find a complete list of trading and withdrawal fees on the Binance.US website.
How does Binance.US ensure the security of my account and funds?
Binance.US employs two-factor authentication (2FA) to add an extra layer of security to your account and funds. It also uses multi-signature technology and stores the majority of funds in cold wallets, which are not connected to the Internet. Additionally, Binance.US monitors for any suspicious activity and employs automated risk management systems to help prevent unauthorized access to your account.
What are the limits for deposits and withdrawals on Binance.US?
The limits for deposits and withdrawals on Binance.US vary depending on the account verification level. For Level 1 accounts, the daily withdrawal limit is $5,000, while the daily deposit limit is $30,000. For Level 2 accounts, the daily withdrawal limit is $1,000,000, while the daily deposit limit is $1,000,000. These limits can be increased by submitting a request for higher limits and going through a verification process.
What is the difference between Binance.US and the original Binance?
The parent company of Binance.US is Binance. As American regulators started looking into the platform for possible violations, the latter separated from its parent in 2019. Users based in the United States can no longer access the original Binance platform. Users in the US must instead access the Binance.US platform.
Where is Binance.US located?
San Francisco, California
Does Binance.US offer commission-free trading?
Yes, Binance.US offers commission-free trading on a limited number of trading pairs. These trading pairs include:
BTC/USD
ETH/USD
LTC/USD
BCH/USD
BNB/USD
BUSD/USD
Binance.US also offers volume-based discounts on trading fees for other trading pairs. These discounts can be as high as 25% for high-volume traders.
Can I trust Binance.US?
Binance.US is a legitimate and regulated cryptocurrency exchange operating in the United States. However, like any other exchange, there are always potential risks involved with using it, such as market volatility, cyber attacks, or regulatory changes. It is recommended that you do your research and make informed decisions before using any cryptocurrency exchange.
Binance.US or Binance: Which should I use?
The choice between Binance.US and Binance depends on your location and personal preferences. If you are a citizen or resident of the United States, you should use Binance.US because it is the platform that is available to you and is designed to comply with U.S. regulations. On the other hand, if you are not a U.S. citizen or resident, you may be able to use the original Binance platform.
Binance is one of the largest cryptocurrency exchanges in the world and offers a wider range of cryptocurrencies than Binance.US. However, it is important to note that Binance has faced regulatory challenges in some countries and may not be available in all locations.
Why are Americans unable to use Binance?
Americans can use Binance through Binance.US, which is a separate platform that was created to comply with U.S. regulations and operates within the legal framework of the United States.
Which states prohibit Binance.US?
Binance.US is available to many, but not all, residents of the United States. It should be noted that this cryptocurrency exchange is not available to residents of Hawaii, New York, Texas, or Vermont.
Is Binance.US only available to residents of the United States?
Yes, Binance.US is only available to citizens and residents of the United States. This is because Binance.US is a separate platform that was created to comply with U.S. regulations and operates within the legal framework of the United States. As a result, Binance.US has different policies, procedures, and features compared to the original Binance platform, which is not available in the United States.
What are the fees for trading on Binance.US?
Binance.US charges a variety of fees, including trading fees, withdrawal fees, and deposit fees. The fees vary depending on the cryptocurrency and the type of transaction.
How do I deposit funds into my Binance.US account?
There are a variety of ways to deposit funds into your Binance.US account, including bank transfers, wire transfers, and ACH transfers.
How do I withdraw funds from my Binance.US account?
There are a variety of ways to withdraw funds from your Binance.US account, including bank transfers, wire transfers, and ACH transfers.
Can I use Interactive Brokers to trade on Binance.US?
No, you cannot use Interactive Brokers to trade on Binance.US. Interactive Brokers does not offer trading in cryptocurrency, and it does not have a relationship with Binance.US.
How do I report a problem to Binance.US?
If you have a problem with Binance.US, you can report it by clicking on the “Help” button at the top of the website.
How do I contact Binance.US customer support?
Binance.US customer support is available 24/7 by phone, email, and live chat.
Does Binance.US offer exchange-traded funds (ETFs)?
No, Binance.US does not currently offer ETFs. However, there are a number of ETFs that track the performance of cryptocurrencies, such as the VanEck Vectors Bitcoin ETF (BBTC) and the 3iQ Bitcoin Fund (QBTC). These ETFs can be traded on other exchanges, such as the NYSE Arca and the Toronto Stock Exchange.
What are the account minimums for Binance.US?
There are no account minimums for Binance.US. You can create an account and start trading with as little as $1.
Is Charles Schwab affiliated with Binance.US?
No, Charles Schwab is not affiliated with Binance.US. Binance.US is a cryptocurrency exchange that is regulated by the Financial Crimes Enforcement Network (FinCEN). Charles Schwab is a financial services company that is not involved in the cryptocurrency market.