Binance.US is a popular crypto exchange that provides safe and dependable access to a wide range of digital assets. Whether you’re new to the world of cryptocurrency or a seasoned trader, Binance.US offers a user-friendly platform with some of the industry’s lowest fees.
In this Binance.US review, we’ll highlight some of the key characteristics that make this exchange a popular choice among US investors. Binance.US provides a variety of options to help you manage your crypto portfolio, from low-cost trading to regular purchases. Now, let’s take a closer look at what makes Binance.US such a popular cryptocurrency exchange.
What Is Binance.US?
Binance.US is a platform that has brought the world of crypto closer to people across the United States. Launched in September 2019 and headquartered in Florida, Binance.US offers secure and reliable access to the most popular cryptocurrencies in the world, with some of the lowest fees in the industry.
Binance.US allows you to buy, sell, and trade over 150 cryptocurrencies with ease. With Binance.US, you can be assured of peace of mind while trading in the fast-moving markets of the cryptocurrency world.
How to Open an Account at Binance.US
Before you can start trading on Binance.US, you need to open an account and complete basic verification. Luckily, it’s a straightforward process that only takes a few minutes to complete. By following the steps below, you can have your Binance.US account up and running in no time.
- Verify your email by entering the verification code you received.
- Secure your account by enabling SMS Authentication. Enter your phone number and click “Send Code”. Enter the SMS verification code and click “Enable Authentication.”
- Complete Basic Verification by entering the last four digits of your SSN, legal name, and residential address. Confirm the information and click “Next.”
Once you successfully complete the verification process, you can fund your account and start trading. You should go to the “Add Payment Method” and deposit money into your account. You can do this using a debit card, a bank transfer, Apple Pay, or domestic wires. Keep in mind that using domestic wires requires completing advanced verification.
This process involves providing additional identity documents and completing a facial recognition step. To start the process, simply log in to your account and visit the Basic Info page in your settings. From there, follow the on-screen instructions and upload your chosen identification document, such as a driver’s license or passport, and complete the facial recognition step using your webcam or phone selfie camera.
Is Binance.US Safe?
Binance.US takes security seriously, and that’s why it offers two-factor authentication to reduce the risk of unauthorized access. The platform will never ask for your 2FA codes, and its user support will never ask to screen share or access your devices or accounts. It’s essential to log in to your account through the official website to review any transactions or required actions.
Binance.US is not responsible for any damage or interruptions caused by computer viruses, malware, phishing, spoofing, or other attacks. So, it advises using reputable virus screening and prevention software regularly. SMS and email services can be vulnerable to spoofing and phishing attacks, so it’s crucial to be careful when you review messages that claim to originate from Binance.US. Remember to keep your login credentials and security details safe at all times and secure any device that you use to access your account.
What Are Binance.US Features?
Binance.US offers a wide range of features for traders looking to start investing in digital assets. From low trading fees and a large selection of cryptocurrencies to recurring buys and advanced trading tools, Binance.US has something for everyone.
In this section, we’ll explore some of the key features of Binance.US and how they can benefit you. So whether you’re a seasoned trader or just getting started, read on to learn more about what Binance.US has to offer.
Advanced Trading: Binance.US offers advanced trading features such as margin trading and futures trading. Margin trading allows traders to borrow money to increase their buying power, while futures trading allows them to speculate on the future price of cryptocurrencies.
Staking: Binance.US allows users to earn rewards by staking certain cryptocurrencies, such as ETH 2.0 and ADA. Staking involves holding cryptocurrencies to support the network and earn rewards in return.
Over the Counter Trading: Binance.US offers an over the counter (OTC) trading portal for high-volume traders. The OTC portal provides personalized trading services, competitive pricing, and faster settlement times for large trades.
Mobile App: Binance.US also has a dedicated mobile app for both iOS and Android devices, allowing users to trade cryptocurrencies and manage their accounts on the go. The Binance.US app offers all the features of the web platform, including advanced trading tools, charts, and real-time market data.
As outlined above, Binance.US provides a number of features across various categories to meet the needs of different types of crypto traders. With low fees, high security standards, and a commitment to regulatory compliance, this exchange has quickly become a popular choice for those looking to trade crypto in the United States.
What Are Binance.US Fees?
Binance.US offers some of the lowest trading fees in the cryptocurrency exchange industry, making it one of the best choices if you want to trade in the United States. The exchange features a tiered pricing structure for trading pairs. The fees are based on a 30-day trading volume and calculated on a rolling basis every day at 8 p.m. EDT. Binance.US is the only major exchange to offer free trading for Bitcoin and Ethereum on Tier 0 pairs.
The following table outlines the different VIP levels and the corresponding Binance.US trading fees:
|VIP Level||30-day Trading Volume (USD)||Tier 0
|2||$10,000 – $50,000||Free||0.1875%||0.3000%|
|3||$50,000 – $100,000||Free||0.1125%||0.1875%|
|4||$100,000 – $1,000,000||Free||0.0750%||0.1500%|
|5||$1,000,000 – $20,000,000||Free||0.0600%||0.1350%|
|6||$20,000,000 – $100,000,000||Free||0.0375%||0.1125%|
|7||$100,000,000 – $300,000,000||Free||0.0150%||0.0750%|
|8||$300,000,000 – $500,000,000||Free||Free||0.0600%|
The maker fee applies when you add liquidity to the order book by placing a limit order below the market price, and the taker fee applies when you remove liquidity from the order book by placing a market order above the market price or by executing an order on the order book.
Additionally, if you pay your trading fees with Binance Coin (BNB), you can enjoy a 25% discount on Advanced Trading (Spot Trading) fees. The exchange also offers a small spread when you buy, sell, or convert crypto to lock-in prices during the “Preview Purchase” screen. However, no spread applies to Advanced Trading, as traders interact directly with the open order book.
Crypto deposits are free of charge, but fees may apply when you withdraw crypto. Fees may also apply to USD deposits or withdrawals, depending on the payment method. Fee calculations differ based on factors such as the digital asset itself, payment method, network conditions, and other.
Binance.US Customer Support - Which Customer Support Options Does Binance.US Have?
Binance.US takes customer service seriously and offers several options to get in touch with the support team. Traders can use email and live chat to contact the agents if they have any urgent inquiries.
Additionally, Binance.US has an in-depth Support Center on its website that covers various topics, including account management, trading and fees, deposits and withdrawals, announcements, and how to earn with Binance.US. The Support Center provides users with answers to frequently asked questions and helpful articles.
To contact Binance.US via live chat, traders can follow the instructions outlined on the official site or mobile app. To file a support ticket via email, traders can navigate to the Submit a Request page on the site. After submitting a support request, users will receive a confirmation email from [email protected] with a ticket ID number.
Binance.US Reviews - What Do Customers Say About Binance.US?
Binance.US has garnered a range of reviews from its customers, and not all of them are positive. Many customers have praised the platform’s user-friendly interface, low trading fees, and extensive range of cryptocurrencies available for trading. However, some customers have reported issues with withdrawing their funds or fixing issues with their accounts.
A common complaint is the lack of phone support, which can make it difficult for customers to get immediate help. Overall, it’s important to consider both the positive and negative reviews when deciding whether Binance.US is the right company for you.
Final Thoughts: Is Binance.US Worth It?
Binance.US is a popular and trusted cryptocurrency exchange that offers a wide range of features for buying, selling, and trading cryptocurrencies. If you compare Binance.US vs. Binance, you will see that Binance.US has a more limited selection of cryptocurrencies, but it’s better suited for US residents who want to comply with US regulations.
The platform’s low fees, user-friendly interface, and advanced trading tools make it a good option for both beginners and experienced traders. However, customer support can be a challenge, as there is no phone support, and some users have reported difficulties with resolving issues or withdrawing their funds. Overall, Binance.US is one of the best and most reliable platforms for buying and selling cryptocurrencies in the US, but users should be aware of the potential drawbacks and do research before using the platform.
Is Binance.US legit?
Yes, Binance.US is a legitimate crypto exchange platform operating in the United States. It’s a subsidiary of Binance, one of the largest cryptocurrency companies in the world. It is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business (MSB).
What is the difference between Binance.US vs. Binance?
Binance and Binance.US are two separate crypto exchanges owned by the same company, Binance Holdings Limited. The main difference between the two is that Binance is a global exchange, while Binance.US is only available to users in the United States. Binance offers a wider range of cryptocurrency trading pairs and advanced trading features, while Binance.US has a more limited range of digital coins but is fully compliant with US regulations.
Is BNB owned by Binance?
As previously mentioned in our Binance.US review, BNB (Binance Coin) is owned by Binance. It was created by Binance in 2017 as the native token for the Binance ecosystem. It’s used to pay for trading fees on the Binance exchange and other services and products that Binance offers.