What is Binance.US?
Binance is among the largest cryptocurrency exchanges in universe. presently experiencing more than $ 2 billion per day in trade wind volume, the chopine has grown well since its launch in 2017. In 2019, regulations within the United States forced Binance to create an alternate for the country ’ randomness customers. The result was Binance.US, which is run by BAM Trading Services with licenses from the original Binance platform. This review covers everything you need to know about the US focused version of the cryptocurrency rally .
- If this is your first exchange. The platform’s selection of cryptocurrencies and low trading fees make Binance.US a good choice. Getting used to the platform’s advanced features may take some time, however.
- If you’re switching exchanges. The advanced trading features found on Binance.US may represent a step up from your last exchange. However, if you’ve grown accustomed to your platform’s solid customer support features, you may be disappointed with Binance.US.
Pros and cons of Binance.US
- Large selection of cryptocurrencies
- Abundant trading pairs
- “Low” trading fees ( < .1%)
- Slow customer service
- History of regulatory issues
- Not available in all states
Verdict: Is Binance.US any good?
Binance.US is credibly best known for its large choice of altcoins and low trade fees. The substitution besides features the company ’ south flagship cryptocurrency, Binance Coin ( BNB ), which can be used to lower trade fees even further when activated on the platform. however, slow customer avail and a series of regulative issues presently hinder the exchange from serving all 50 states. These factors should be taken into circumstance before signing up for the exchange .
What to know about Binance.US
Binance.US supports closely 70 cryptocurrencies on its substitution, including Bitcoin ( BTC ), Ether ( ETH ), Dogecoin ( DOGE ) and Shiba Inu ( SHIB ). The big survival of altcoins makes Binance.US an attractive exchange to traders wishing to diversify their portfolio of coins and tokens. The fees on the platform are among the lowest available for US customers. The platform determines your trade fees based on your trade volume and your BNB balance. But no matter which grade of the fee structure you presently fall under, fees remain 0.1 % or less for position trades. Holding BNB in your report automatically lowers your trade fees far by 25 % by deducting the amount charged from your BNB balance. Binance.US is available as an app for Apple and Android mobile devices. Though not arsenic full-featured as the original Binance platform, the Binance.US interface is streamlined in an easy-to-use format that both begin and feel investors can take advantage of. The reputation of the locate remains slightly shuffle, largely due to the wait times associated with customer corroborate. Users can lone contact Binance.US customer corroborate via e-mail. Reviews concerning Binance.US have systematically knocked the cryptocurrency exchange for its lack of seasonably responses .
|Transferring money or assets|
|Fees and costs|
|Ease of use|
|Overall score||3.5 stars|
Binance.US supported cryptocurrencies
While the act of cryptocurrencies found on Binance.US is reduced from those offered on the company ’ second flagship chopine, the abundance of altcoins available is placid a major sell point for the exchange. Users are able to trade in and out of about 70 coins and tokens using USD, USDT or BTC. unfortunately, when using BTC as a trade pair, the act of cryptocurrencies available becomes importantly reduced. presently, entirely 11 altcoins are available to trade directly for BTC on the Binance.US cryptocurrency substitution. Those assets are :
Transferring fiat and cryptocurrency
Moving decree in and out of the exchange is fairly straightforward. Users can connect their bank accounts via ACH for blink of an eye transfers. alternatively, wire transfers and debit card deposits can besides be accomplished on the exchange. minimum withdrawals of $ 1 via ACH and $ 100 via wire transfer practice. Transferring cryptocurrency is equally straightforward. The chopine ’ s custodial wallet features the ability to sediment and withdraw prominently. While it is free to deposit cryptocurrency into the substitute, Binance.US does charge varying fees for withdrawals. These fees are based on which cryptocurrency you are withdrawing .
Binance.US fees and costs
Binance.US fees are lower than 1 % in most cases. In general, there is a 0.1 % spot trade fee and a 0.5 % buy/sell cryptocurrency tip. The actual fees you are charged are settle each day by a combination of factors including your overall trade book and your current BNB balance wheel. Holding BNB in your report can lower fees by 25 %. The rebate will be applied by deducting the trade fee from your BNB libra .
Fiat withdraw and deposit fees
|0% – 4.5%. Charges apply for debit card deposits.||$15 -$35 for domestic and international wire transfers, respectively.|
Crypto withdraw and deposit fees
|Free||Varying fees apply based on the cryptocurrency being withdrawn.|
What is it like to use Binance.US?
Binance.US has a good mix of tools for know and beginning traders. While buying cryptocurrency through the available markets is intuitive for newcomers, the interface besides gives users the ability to switch to an promote trade platform for a broad place of features, including charts, regulate books and barter histories. The platform ’ s interface may at first seem a bite cluttered when compared to more beginner-focused exchanges, like Coinbase or BlockFi. calm, after getting used to the features available on Binance.US, users may find it difficult to go binding to less advanced applications .
The trading terminal within Binance.US is clearly laid out. Trades can be made using USD, USDT and BTC.
The Binance.US app is available for background and fluid devices. The app can be downloaded from Google Play and the Apple App Store.
Binance.US has a referral broadcast. Using a referral code, users can invite friends and receive a 40 % commission on trading fees.
Binance.US has a portal site, called Binance Academy, where users can access information on a assortment of topics related to cryptocurrency. The portal vein is not included within the Binance.US app, however.
Binance.US offers customers the ability to submit a request for support. It besides includes a virtual adjunct, capable of answering basic account relate questions.
Does Binance.US have good customer support?
Binance.US customer service does not have the best repute. The entirely way to contact confirm is through a shape on the party ’ south defend page. There is a virtual assistant that can help with basic questions, however. unfortunately, customer support can take quite some time to respond via e-mail. many reviewers of the service report being unable to receive more than canned responses and apologies for cover wait times. fortunately, a defend page with detail answers to the most basic questions is available .
|Support offered||Wait times|
|Contact us form||✅||unavailable|
List of services on Binance.US
Earning on Binance.US
earn rewards for cryptocurrency held on Binance.US is available for a blue-ribbon number of cryptocurrencies. Users can earn up to 6.5 % by depositing cryptocurrency through the platform ’ randomness staking plan. Users can bet on Vechain ( VET ), Tezos ( XTZ ), Cosmos ( ATOM ) and Algorand ( ALGO ). early services, like lending and farming, do not presently take place on the chopine .
Binance.US Visa debit/credit card
Binance.US does not presently offer a Visa debit/credit poster. The external Binance version does though .
There are no current promotions taking topographic point on Binance.US. however, users can refer friends and syndicate to the platform via a referral connect. You can earn up to 40 % of the trade fees incurred by friends who have signed up using your referral code. You can besides keep an center out for upcoming promotions through the Binance.US blog.
Binance.US Trust rating
Binance.US has never been hacked. however, the flagship commute, Binance, suffered a massive hack in 2019. approximately $ 40 million worth of Bitcoin was stolen from drug user accounts on the platform. To its accredit, Binance promptly returned the stolen funds to users .
Binance.US offers a number of security features for exploiter accounts. Among them is 2-factor authentication ( 2FA ). You can activate 2FA via SMS or through the Google Authenticator app. In December of 2021, Binance announced a security audit program to enhance the protection of drug user accounts. Project Shield audits BEP-20 and ERC-20 projects listed on the substitution .
US dollar deposits are held in pool custodial accounts at see banks. As such, all US dollar deposits made on Binance.US are eligible for FDIC indemnity. Binance Holdings Ltd. has besides created a Secure Asset Fund of over $ 1 billion to help combat potential hacks to user accounts .
Signing up on Binance.US
Get started. From the Binance.US home page, click on the outsize button directing you to “ Get Started ”. Enter your electronic mail address and create a strong password in the fields provided. If you have a referral ID, you can enter it here arsenic well. Verify that you are over 18 and click the connect shown to create your account. You will need to confirm your e-mail address by entering a code sent to your inbox. last, secure your report with 2-factor authentication before proceed .
Verify your identity. You will need to verify your identity to enable trading on your new account. The know-your-customer process will require you to enter your full name, date of birth and residential address. You may also be asked for pictures of a government issued ID and even a selfie uploaded from your mobile device. After submitting your documentation, the verification process may take some time to complete. You will receive an email when your identity has been verified. You will need to verify your identity to enable trading on your new bill. The know-your-customer action will require you to enter your full name, date of birth and residential savoir-faire. You may besides be asked for pictures of a government issued ID and even a selfie uploaded from your mobile device. After submitting your software documentation, the confirmation process may take some time to complete. You will receive an e-mail when your identity has been verified. read Finder ’ s KYC guide here.
Log in. With your identity verified, logarithm in to your history. Enter your e-mail address and the password you created in step 1. You will be sent a code via SMS text to the telephone number you provided when activating 2FA. Congratulations, you ’ re fix to trade .
Compare Binance.US against other exchanges
Frequently Asked Questions about Binance.US
What’s the difference between Binance and Binance.US?
The flagship platform, Binance, is unavailable to US customers. Binance offers several services not found on the reduced, Binance.US, exchange, including leverage and derivatives trade. Binance.US besides has a smaller count of cryptocurrencies available and a offprint tip structure for customers .
Can US citizens use Binance.US?
Yes, US citizens can use Binance.US. however, the rally is not available in several states including Hawaii, Idaho, Louisiana, New York, Texas and Vermont.
Read more: Forum Policy
How do I withdraw money from Binance.US?
USD earned from trade cryptocurrency on the Binance.US exchange can be transferred to your bank report via ACH. Directions for connecting your trust account to the chopine can be found on the platform .
Is Binance.US legitimate?
Binance.US is undergo ceaseless regulative scrutiny. While the flagship exchange from the company was banned from the US in 2019, Binance.US was created to operate legally in the country. Disclaimer: Cryptocurrencies are bad, complex and involve meaning risks – they are highly volatile and sensible to secondary action. performance is irregular and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this data. You should besides verify the nature of any merchandise or military service ( including its legal status and relevant regulative requirements ) and consult the relevant Regulators ‘ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed .