Binance.US Exchange Review
- Advanced Traders
- American Citizens
Binance US is a centralized cryptocurrency exchange with 20+ active listed crypto assets. The exchange supports USD deposits and withdrawals, giving Americans more options for their crypto asset trading. Established in 2019, Binance US has a FinCEN-registered partner which fully licenses the exchange to serve US customers.
Binance US Exchange - 2020 Comprehensive Review
Binance US Exchange Overview
|Trading Fees||Maker: 0.1% / Taker: 0.1%|
|Fiat Trading||US Dollars|
|Purchase Options||Bank Transfer, Crypto Deposits, Credit Cards|
|Trading Options||Spot Trading|
|Order Types||Limit, Market, Limit-Stop|
|Exchange Token||Binance Coin|
|Token Benefits||Trading Fee Discounts|
|KYC Rules||All Accounts must KYC to trade.|
|Convert Micro Balance|
|Customer Service||Support Ticket System|
|Promotions||Get $15 when you complete fiat account verification. Get additional $15 when your invited friends or family completes fiat account verification.|
Binance US Trading Fees (Maker & Taker)
|Tier||Monthly Volume Requirement||Maker||Taker||Maker|
|Level 1||$1.00 + BNB Balance = 1.00||0.10%||0.10%||0.08%||0.08%|
|Level 2||$50,000.00 + BNB Balance = 50.00||0.09%||0.09%||0.07%||0.07%|
|Level 3||$100,000.00 + BNB Balance = 200.00||0.08%||0.08%||0.06%||0.06%|
Binance US Withdrawal Fees
|Asset||Withdrawal Fees||Minimum Withdrawal|
Binance US does not charge deposit fees.
Binance US Markets & Volume
Binance US Top Markets
|Crypto Assets||Price||Pairs||24h Volume|
Binance US Supported Stablecoins
|Stablecoin Assets||Price||Pairs||24h Volume|
Binance US Exchange Alternatives
|Trading Fees||Maker : 0.1%|
Taker : 0.1%
|Maker : 0.15%|
Taker : 0.25%
|Maker : 0.16%|
Taker : 0.26%
|Purchase Options||Bank Transfer, Crypto Deposits, Credit Cards||Bank Transfer, Crypto Deposits, Credit Cards||Bank Transfer, Crypto Deposits|
|Trading Options||Spot Trading||Spot Trading, Margin Trading||Spot Trading, Margin Trading, Futures Trading, Forex Trading|
|Headquarters||United States||San Francisco, California, United States||San Francisco, California, United States|
Pros and Cons
- Fiat Trading & Deposits - Users can link their bank accounts and deposit USD via ACH bank transfer (minimum of $1) or bank wire (minimum of $100). USD withdrawals are available via ACH bank transfer.
- Low Trading Fees - Even for low-volume traders, Binance US sets fees for makers and takers at 0.1% respectively.
- Legal Compliance - Binance decided to open a US-only exchange to ensure regulatory compliance. Binance US is registered as a money services business and has partnered with a FinCEN-registered entity.
- Liquidity - Most markets on Binance US average well above $1M USD in 24 hour daily trading volume.
- Excellent Reputation - Binance.com consistently ranks as a top cryptocurrency exchange and is regarded by most as the industry standard. As a result, Binance US carries forward this same reputation.
- Location Restrictions - Binance US only allows US citizens to register and trade on the platform. Registration is currently unavailable for residents of the following states: Alabama, Connecticut, Florida, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Georgia, Vermont, and Washington.
- No Margin Trading - Binance US does not currently offer margin trading.
- Limited Crypto Assets: - Only 20+ crypto assets are available for trading on Binance US. Comparatively, Binance.com lists 160+ crypto assets.
- No Mobile App - There is currently no mobile app for Binance US.
Frequently Asked Questions
When does Binance US open?
Binance US launched in September 2019 and is currently open to US customers.
Is Binance US safe?
Binance US has an above average reputation compared to its competitors. Security measures used by the US exchange are similar to those of Binance.com. Although Binance US has yet to have any security breaches, Binance.com has faced this issue on a few occasions. Blockfer recommends that users keep their crypto assets on Binance US only when they intend to trade in the immediate future.
Does Binance US have a mobile app?
Binance US does not currently have a mobile app. Plans for a mobile app release have been announced, but the company has yet to issue a launch date.
Does Binance US offer margin trading?
Binance US does not currently offer margin trading. Users interested in margin trading can do so on Binance.com.
Who can use Binance US?
Binance US is available in most states to US citizens only. The exchange is currently unavailable to residents of the following states: Alabama, Connecticut, Florida, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Georgia, Vermont, and Washington.
In June 2019, Binance.com began restricting US users to make way for the Binance US launch. Binance executives ultimately believed that this was necessary due to impending regulations.
Binance US has maintained considerable liquidity for their listed crypto assets and most importantly has provided Americans with an additional regulatory-compliant platform that accepts fiat deposits.
Overall, Binance US is still a work in progress. The exchange lacks a mobile app and has significantly fewer crypto assets listed compared to Binance.com. That being stated, Blockfer recommends Binance US for American users. We expect the platform to continue to improve as more trading features and new assets are listed.
|Learn More||Best Features|
Binance US Official Website
Legal & Regulation - Facts & Figures
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The cryptocurrency exchanges found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our exchange reviews and comparisons include: liquidity, purchase options, user experience, trading fees, trading options, listed assets, reputation, mobile experience, and customer support.
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