Binance.US can attract the attention of investors at a lower cost. Than most other cryptocurrency transactions. But we would recommend that you pay less for transparency.
Binance.US is the American partner of Binance. the world’s largest cryptocurrency exchange trading volume. And in China in 2017. The first stage ceased to welcome US users in 2019. And announced that it would instead cooperate with a US-based version. of its platform called Binance. The US.
Since the launch of Binance.US in 2019, which Binance mentioned in the past as a US partner. Binance International has undergone a regulatory test. Although that review did not pass to Binance.US. For example. Italian authorities announced on July 15. that Binance was no longer authorized to operate in the country.
As recently as May 2021. Binance was being investigated by the US government. For tax fraud and money laundering. According to a Bloomberg report.
We reached out to Binance and Binance.US to verify the details. Of the reported regulatory investigation. As well as a better understanding of the relationship between overseas platforms. And the U.S. We did not hear a response from officials at Binance. or Binance.US although a spokesman was contacted. us on behalf of Binance.US after our review to provide. More context about the relationship between Binance and Binance. The US. They operate as a separate company. the spokesman said in an email. with Binance.US license software, trademarks, and fund technology from Binance.
U.S. investors are still unable to use the first Binance today. But Binance.US offers more than 50 cryptocurrencies for investors to choose from. The biggest draw for Binance.US is its low payout compared to other trades. It also has an easy-to-use buy/sell. option for beginners. While the more advanced traders can enjoy its “basic” and “advanced” trading platforms.
Despite those advantages. Binance.US seems to be much smaller than most trading competitors. When it comes to security, storage options, and customer support. For many long-term, retirement-minded investors. We would recommend sticking to trade like Coinbase or Gemini. Which is more transparent about these important activities.
The pros and cons of Binance.US
Advantage
- Lower fees compared to other transactions
- 25% trading discount if you pay using Binance Coin (BNB)
Disadvantage
- Not available in all provinces
- $ 10 smallest trading
The site can be difficult to use
Lack of security information Binance’s US partner, with a history of regulatory testing
- Binance.US At A Shazi
- 50+ currencies available
- Available in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont
- 0.1% down payment for spot trading; 0.5% payment for immediate buy/sale
- $ 10 smallest trading
- A recurring investment option, of the dollar cost ratio
- Cryptocurrencies Available at Binance.US
You can buy and sell more than 50 cryptocurrencies at Binance.US, which includes:
- Bitcoin (BTC)
- Ethereum (ETH)
- PAX Gold (PAXG)
- Harmony (OTHER)
- Orchid (OXT)
- Helium (HNT)
- Chainlink (LINK)
- Cardano (ADA)
- Stellar (XLM)
- Tether (USDT)
Binance.US also offers a large number of trading pairs. This includes trading options for two cryptocurrencies. Without the need to issue one in USD, as well as options trading between crypto and fiat currencies such as USD. Different exchanges offer different trading pairs based on the cryptocurrencies they offer.
Binance.US Funds
Binance.US has the option to buy and sell crypto using U.S. dollars. using a simple interface like what you will find in Coinbase and other competitors. Each of these buy/sell transactions incurs a penalty of 0.5%.
But to take advantage of its normal 0.1% charge. You will need to see trading through the Binance.US trading platform. This can be confusing if you are unfamiliar with the word exchange. In some trades, this type of trading and currency structure. Are often used in more advanced platform options. Such as Coinbase’s Coinbase Pro or Gemini’s Active Trader.
Spot trading means that you “don’t buy” cryptocurrency. But instead, trade your USD with it in the market or with a limited order. Market order means that you agree to trade for money at the current market price. Restricted order allows you to enter a set amount that you want the trade. To take place, and when the currency type reaches that price. the trade happens. These orders then incorporate payments to “maker” (limited orders) or “buyer” (market orders). Although at Binance.US, there is a standard payment of 0.1%.
Take Bitcoin as an example, if you want to get Bitcoin from Binance.US, here’s how you can make sure you pay only that 0.1%, not 0.5%:
Transfer USD to your Binance.US account free of charge
Set up a market or limit order transactions in USD to Bitcoin with a payment of 0.1%.
That could mean huge savings for investors, especially when compared to other transactions. For example, if you want to buy Bitcoin that can cost $ 100 on Coinbase. You will actually end up with about $ 96.51 in Bitcoin, after payments. At Binance.US, you still have $ 99.99 to buy Bitcoin after calculating 0.1%.
If you buy Bitcoin in USD, you will pay 0.5% to Binance. US. If you want to spend $ 100 to buy Bitcoin using this option, you will end up trading for about $ 99.50 after the cost.
There is also a 25% discount on your payment if you use Binance Coin (BNB) to pay your transaction fee. To do this, you need to hold Binance Coin in your Binance.US account. And your trading money will be from your Binance Coin balance.
If you use a dollar-cost estimate to invest, these savings can be significant over time. But while it is important to pay attention to the exchange rate structure. Experts say that you may have to pay extra to secure security, usability, or other features.
Deposit and Withdrawal Fees
Before you can trade in cryptocurrency, you will need to deposit – and when you sell, withdraw – U.S. dollars. log in and out of your Binance.US account. Payments for this are minimal. Especially if you transfer from your bank account using ACH.
There are also individual withdrawal fees to transfer your crypto. Money from your Binance.US account to your own crypto wallet. These currencies vary depending on the type of cryptocurrency.
Binance.US Security
We were unable to get any information from Binance.US about its safety. And security measures and the company did not respond to a request for comment. The most descriptive information on the Binance.US site. Is the following statement appearing on its homepage? “We use the latest technology to protect your cryptocurrency and USD assets.
There is no available information about what percentage of stocks are in cool. Secure, offline space compared to online. Hot wallets, or if there is insurance that protects investors. You must have a Binance.US account to send queries to the help desk, so we could not get more information that way.
Final Thoughts
Binance.US does not provide information. On in-fund contribution, you can keep your coins in your trading account. It also collaborates with Trust Wallet, a hot wallet option for a third party. You can withdraw your coins from your account and put them in your hot or cold storage option at any time (for a fee).