Are you interested in buying, selling, or trading cryptocurrencies in the United States?
If so, you may have heard of Binance, but what is Binance US?
Binance.US is a cryptocurrency exchange platform that provides secure and reliable access to some of the most popular cryptocurrencies in the world.
Launched in September 2019 and headquartered in Florida, Binance.US was established to serve U.S. consumers and adhere to U.S. regulations.
With some of the lowest fees in the industry, Binance.US allows you to easily buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and BNB.
The platform also offers a wide selection of supported cryptocurrencies, making it easy to discover new favorites and expand your portfolio.
- 1 What is Binance US?
- 2 How to Sign Up
- 3 Trading on Binance US
- 4 Binance US App
- 5 Deposit and Withdrawal Process
- 6 Security Measures
- 7 Trading Fees Structure
- 8 Popular Cryptocurrencies on Binance US
- 9 Customer Support
- 10 Additional Features
- 11 Key Takeaways
What is Binance US?
If you are a US resident looking to trade cryptocurrencies, Binance US is a platform you should consider.
It is a separate exchange created specifically for US customers to comply with US regulations.
Binance US is a subsidiary of Binance, the global cryptocurrency exchange.
Binance US was launched in 2019 and is operated by BAM Trading Services.
It offers a wide range of cryptocurrencies and altcoins, including Bitcoin, Ethereum, and Litecoin, with some of the lowest fees in the US.
One of the key differences between Binance and Binance US is that Binance US has a smaller user base and lower trading volume.
However, this is because Binance US is only available to US residents, while Binance is available globally.
Binance US is fully operational in most US states, with the exception of a few states where it is not yet available.
It is important to note that Binance US does not offer margin trading or futures trading, unlike Binance.
In terms of security, Binance US follows strict security measures, including two-factor authentication and cold storage for funds.
It also complies with US regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
How to Sign Up
Signing up for Binance.US is a straightforward process that can be completed in just a few minutes.
Here’s how to do it:
- Go to the Binance.US website and click on the “Register” button in the top right corner of the page.
- Enter your email address and create a strong password. Make sure to use a password that is unique and not used for any other online accounts.
- Binance.US will send you a verification email. Open the email and click on the link to verify your account.
- Next, you will need to complete basic verification by providing your name, date of birth, and address. This is a requirement for all users and helps ensure the security of your account.
- Once you have completed basic verification, you can begin using the platform to buy, sell, and trade cryptocurrencies. However, to unlock higher deposit and withdrawal limits, you will need to complete advanced verification.
- To complete advanced verification, you will need to provide a government-issued ID and a selfie of yourself holding the ID. This helps ensure that your account is secure and that you are who you say you are.
- Once you have completed advanced verification, you will have access to higher deposit and withdrawal limits, as well as other advanced features on the platform.
- To log in to your account, simply enter your email address and password on the Binance.US website. If you have enabled two-factor authentication, you will also need to enter the code generated by your authenticator app.
By following these simple steps, you can quickly and easily sign up for Binance.US and start trading cryptocurrencies.
Trading on Binance US
If you’re looking to trade cryptocurrencies in the US, Binance US is a great platform to consider.
With Binance US, you can buy, sell, and trade a wide variety of cryptocurrencies, including Bitcoin, Ethereum, and ADA.
Here’s what you need to know about trading on Binance US.
Binance US offers a wide variety of trading pairs, which are the combinations of two cryptocurrencies that you can trade.
For example, you can trade Bitcoin for Ethereum, or ADA for Binance Coin.
Some popular trading pairs on Binance US include BTC/USD, ETH/USD, and ADA/USD.
Market and Limit Orders
When you trade on Binance US, you can choose between two types of orders: market orders and limit orders.
A market order is an order to buy or sell a cryptocurrency at the current market price.
A limit order is an order to buy or sell a cryptocurrency at a specific price or better.
Binance US charges fees for trading on the platform.
The fees vary depending on the trading pair and the type of order you place.
For example, the fees for trading Bitcoin for US dollars are 0.1% for market orders and 0.5% for limit orders.
The fees for trading Ethereum for US dollars are 0.1% for market orders and 0.5% for limit orders.
Binance US also offers an advanced trading feature, which allows you to place more complex orders.
With advanced trading, you can place stop-loss orders, which automatically sell your cryptocurrency if the price drops to a certain level.
You can also place take-profit orders, which automatically sell your cryptocurrency if the price reaches a certain level.
Binance US App
If you’re looking for a convenient way to buy, sell, and trade cryptocurrencies, the Binance US app is a great option.
With the app, you can access your account, view your portfolio, and make trades on the go.
The Binance US app is available for both iOS and Android devices and can be downloaded from the App Store or Google Play.
Once you’ve downloaded the app, you can log in with your Binance US account credentials or create a new account if you don’t already have one.
One of the benefits of using the Binance US app is that it offers a user-friendly interface that’s easy to navigate.
You can quickly view your account balances, track your portfolio’s performance, and make trades with just a few taps.
In addition to its ease of use, the Binance US app also offers a range of features that can help you manage your cryptocurrency investments.
For example, you can set price alerts to notify you when a particular cryptocurrency reaches a certain price point.
You can also view real-time market data and access a range of trading tools to help you make informed decisions.
Deposit and Withdrawal Process
When it comes to depositing and withdrawing funds on Binance.US, the process is straightforward and user-friendly.
Here’s what you need to know:
To deposit funds into your Binance.US account, you have several options available:
- Crypto deposits: You can deposit cryptocurrencies such as Bitcoin, Ethereum, and Litecoin into your Binance.US account by transferring them from your wallet or another exchange.
- ACH deposits: You can also deposit funds using ACH (Automated Clearing House) transfers from your bank account. This option is available for U.S. dollar deposits only.
- Debit card deposits: Binance.US also allows you to deposit funds using your debit card. This option is available for select cryptocurrencies only.
Once you’ve selected your preferred deposit method, simply follow the on-screen instructions to complete the transaction.
Note that deposit times and fees may vary depending on the method you choose.
When it comes to withdrawing funds from your Binance.US account, you have several options available:
- Crypto withdrawals: You can withdraw cryptocurrencies from your Binance.US account by transferring them to your wallet or another exchange.
- ACH withdrawals: You can also withdraw funds using ACH transfers to your bank account. This option is available for U.S. dollar withdrawals only.
- Wire transfers: Binance.US also allows you to withdraw funds using wire transfers. This option is available for both U.S. dollar and cryptocurrency withdrawals.
Note that withdrawal fees may apply depending on the method you choose.
Additionally, ACH withdrawals may take up to 10 business days to process, while wire transfers may take up to 5 business days.
Binance.US takes your security seriously and offers several measures to ensure the safety of your account and assets.
Here are some of the security features that Binance.US offers:
- Two-Factor Authentication (2FA): Binance.US requires 2FA to be enabled on your account to provide an extra layer of security. You can use either Google Authenticator or SMS authentication to set up 2FA.
- Secure Asset Fund for Users (SAFU): Binance.US has a SAFU fund to protect against financial losses in the event of a security breach. The fund is backed by Binance.US’s own reserves and is designed to cover losses that exceed the funds held in the hot wallet.
- Device Restrictions: Binance.US allows you to restrict the devices that can access your account. This helps to prevent unauthorized access to your account from unknown devices.
- Address Whitelisting: You can whitelist specific wallet addresses on Binance.US. This means that withdrawals can only be made to these pre-approved addresses, adding an extra layer of security to your account.
- FDIC Insurance: Binance.US offers FDIC insurance for U.S. dollar deposits, providing an additional layer of protection for your funds.
Binance.US also follows industry best practices when it comes to security.
They were rated as a top 5 most secure exchange in the world by independent security auditing firm certified, and are trusted with the safety of funds by millions of traders and institutions.
In addition to these measures, Binance.US also requires you to complete a verification process to ensure the security of your account.
This process involves providing personal information and identification documents to verify your identity.
Trading Fees Structure
When it comes to trading fees, Binance.US is known for its low fees.
In fact, it is the only major exchange to offer free Bitcoin and Ethereum trading in the US.
The trading fees on Binance.US are determined by your 30-day trading volume, which is calculated on a rolling basis every day at 8 p.m. EDT.
The more you trade, the lower your fees will be.
Here is a breakdown of the trading fees structure:
- Tier 0 (0-50 BTC): 0% maker fee, 0.10% taker fee
- Tier 1 (50-1000 BTC): 0.02% maker fee, 0.10% taker fee
- Tier 2 (1000-5000 BTC): 0.015% maker fee, 0.09% taker fee
- Tier 3 (5000-10000 BTC): 0.01% maker fee, 0.08% taker fee
- Tier 4 (10000-50000 BTC): 0.005% maker fee, 0.07% taker fee
- Tier 5 (50000-100000 BTC): 0.0025% maker fee, 0.06% taker fee
- Tier 6 (100000+ BTC): 0% maker fee, 0.04% taker fee
It’s important to note that these fees only apply to trading.
Deposit and withdrawal fees, if applicable, are calculated and displayed on the preview screen for your review before you approve the transaction.
If you’re a VIP user, you may be eligible for even lower fees.
VIP users are determined by their 30-day trading volume and Binance Coin (BNB) balance.
The more BNB you hold, the more discounts you can receive on trading fees.
Popular Cryptocurrencies on Binance US
If you’re looking to trade popular cryptocurrencies, Binance US has got you covered.
With over 130 cryptocurrencies available, you’re sure to find the one you’re looking for.
Here are some of the most popular cryptocurrencies available on Binance US:
- Bitcoin (BTC): The world’s first and most well-known cryptocurrency, Bitcoin is a decentralized digital currency that allows for peer-to-peer transactions without the need for a central authority.
- Ethereum (ETH): The second-largest cryptocurrency by market capitalization, Ethereum is a blockchain-based platform that allows developers to build decentralized applications (dapps) and smart contracts.
- Binance Coin (BNB): Binance’s native cryptocurrency, BNB is used to pay for trading fees on the Binance exchange and can also be used to purchase goods and services from merchants that accept BNB.
- Cardano (ADA): A third-generation blockchain platform, Cardano aims to provide a more secure and sustainable way to build and run decentralized applications.
Other popular cryptocurrencies available on Binance US include XRP, Dogecoin, Polkadot, and Solana, among others.
With such a wide variety of cryptocurrencies to choose from, you’re sure to find the one that’s right for you.
In addition to these popular cryptocurrencies, Binance US also supports a variety of tokens.
Tokens are digital assets that are built on top of existing blockchain platforms, such as Ethereum.
Some popular tokens available on Binance US include Chainlink (LINK), Uniswap (UNI), and Aave (AAVE).
When it comes to customer support, Binance.US takes it very seriously.
You can contact their customer support team via their chat system or email.
They do not have a customer service phone number, so be wary of anyone claiming to be Binance.US support who contacts you via phone or social media direct messages.
It is important to note that Binance.US support will never ask for your password, solicit money, or ask you to send your crypto to an external wallet.
If you receive any suspicious emails or messages, do not click on any links or respond to the sender.
Instead, contact Binance.US support immediately.
Their chat system is available 24/7, so you can always get in touch with a representative if you have any questions or concerns.
They also have a comprehensive FAQ section on their website that covers a wide range of topics, from account verification to trading fees.
If you need help with anything related to your account, the customer support team is always ready to assist you.
They are friendly, knowledgeable, and eager to help you resolve any issues you may be experiencing.
Binance.US offers a range of additional features that can help you make the most of your digital assets.
Here are some of the key features you can access with your Binance.US account:
Staking and Earning Rewards
If you hold certain digital assets in your Binance.US account, you can earn rewards through staking.
Staking involves holding your digital assets in a wallet for a certain period of time to support the network and earn rewards in return.
Binance.US supports staking for several popular digital currencies, including Algorand, Cosmos, and Solana.
Convert and Sell Crypto
With Binance.US, you can easily convert one digital asset to another, or sell your digital assets for cash.
The platform supports a wide range of digital currencies, including Bitcoin, Ethereum, and Litecoin.
You can also use the platform to buy digital assets with cash.
Secure Customer Assets
Binance.US takes the security of your digital assets seriously.
The platform uses advanced security measures, including two-factor authentication and cold storage, to protect your assets from theft or hacking.
Additionally, Binance.US is registered with the Financial Crimes Enforcement Network (FinCEN) and adheres to strict anti-money laundering (AML) and know your customer (KYC) policies.
If you are a resident in the United States and interested in trading cryptocurrencies, Binance.US could be an excellent option for you.
Here are some key takeaways to keep in mind:
- Binance.US is a cryptocurrency exchange created by Binance and its U.S. partner BAM Trading Services specifically for U.S. residents.
- The platform supports trading of various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many more.
- Binance.US is subject to strict regulatory requirements and is registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business.
- To use Binance.US, you will need to complete a verification process that includes providing personal information and identification documents.
- Binance.US offers various trading tools and features, including limit and stop-limit orders, as well as a mobile app for trading on the go.
It’s worth noting that Binance.US is not available in all U.S. states, including Florida.
However, the platform is continually expanding its reach and may become available in more states in the future.
Overall, Binance.US has gained popularity among U.S. residents and has reportedly processed millions of dollars in trades since its launch in 2019.
While Binance.US has faced some regulatory scrutiny, the company and its CEO, Changpeng Zhao, have been proactive in addressing concerns and working with regulators to ensure compliance.