A platform for US citizens only, Binance US offers low trading fees and lists more tokens than other platforms. It also offers advanced trading and OTC trading features, as well as staking. That’s pretty much it! Although users have more limited options relative to the 500+ tokens, derivatives, futures trading, and all other things that Binance global supports, you can rest assured in the compliance department as Binance US is fully regulated. To read about Binance International, go here.
Like its parent site, Binance US also follows the maker-taker fee structure, charging 0.5% for instant buy and sell (market) orders. Trading fees are determined based on your trading volume over 30 days (in USD) and your daily BNB balance.
If you hold BNB tokens, you can receive an additional 25% discount on the trading fee. You can also take advantage of extra discounts by leveling up from VIP 0 to VIP 10.
The entire trading fee schedule is available here.
Binance US offers a limited number of products:
Binance US operates across all American states, except Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.
Binance US accepts fiat deposits (USD) through ACH, wire transfer, and debit cards. You can also add cryptocurrencies to your Binance US wallet from external wallets.
For withdrawal and deposits, you’ll need to go through KYC verification. Once your verification is processed, you can withdraw up to $5,000 via ACH daily or $1,000,000 via wire or the equivalent crypto. Deposit and withdrawal fees are as follows:
Click here for the crypto withdrawal fee schedule on Binance US
We couldn’t find many details on the website (nor anywhere else). AFAWK, Binance US offers device authorization, 2FA, anti-phishing protection, and other similar security measures. The platform is ranked fourth in the live cybersecurity rankings released by CER, so it must be doing a good job.
Apart from that, there’s just a generic statement, no points for guessing it – “We use state-of-the-art storage technology to protect your cryptocurrency and USD assets.”
In 2019, Binance stopped accepting US citizens, and Binance US became available. Most features are the same, though Binance US offers less cryptocurrencies to trade on and the liquidity pool is more limited. The intellectual property of the brands are under the same umbrella, though they are managed independently. Both versions offer innovative features and ultra-low fees.
Binance was originally registered in China, but it moved its headquarters to the Cayman Islands and Mahé, Seychelles due to legal problems.
Changpeng Zhao and Yi He are the Founder and Co-Founder of Binance. Binance is also owned in part by a group of investors that includes Limitless Crypto Investments, Sequoia Capital, Funcity Capital, Black Hole Capital, Plutus21, Chris McCann, Vertex Ventures China, Vertex Ventures, Vertex Ventures Southeast Asia & India, Karnika Yashwant, Edith Yeung, Phil Chen, AU21 Capital, Dragon Gateway, and several others.
If you have uploaded the correct documents, Binance usually takes 6-12 minutes to verify your account. However, the maximum verification period may be as long as ten days (but that’s very rare) in some cases.
Go to your Coinbase dashboard and select “Receive.” Then select the token and network type and copy the wallet address. Next, open your Binance account, go to send, choose the same token type and then paste the copied address from Coinbase. Hit “Transfer,” and it’s done.
You can buy BNB on the Binance platform using your credit or debit card, bank transfer, or P2P transfer. You can even swap other tokens like USDT/USDC for BNB. Alternatively, you can also search for BNB in your preferred exchange and follow the required steps.
Binance offers mobile, web, and desktop apps. You can simultaneously log in across multiple devices and access all the features.
You can withdraw both fiat and crypto from Binance, depending on your location. For withdrawals, go to your wallet and click on “Withdraw.” Select the token and the network type, enter the recipient’s wallet address, enter the security code, and transfer your crypto. For a fiat withdrawal, follow the same process. Just enter the banking details when Binance asks for them, and your funds will be transferred accordingly.
Click on “Security” and follow the instructions provided on the screen. Note that once you disable your account, you’ll need to contact Binance support to reopen it.