Binance.US is the cryptocurrency exchange created by Binance, one of the world’s largest cryptocurrency exchanges, for US users.
What Is Binance.US, What Does It Do?
Created by Binance and its US partner BAM Trading Service, Binance.US is a cryptocurrency exchange for US users. More than 120 cryptocurrencies are listed on the platform. Users can buy, sell and trade various cryptocurrencies. Also, traders can convert and stake cryptocurrencies on the platform. Binance.US offers lower transaction fees compared to its competitors. Users can access the Binance.US platform via an online control panel or the exchange’s mobile apps available for iOS and Android.
Although it is a stock market that is also used for beginners, it is characterized as a more suitable stock market for experienced investors. Binance.US is the only major crypto platform in the United States that offers zero commission Bitcoin (BTC) spot trading across BTC/USD, BTC/USDT, BTC/BUSD and BTC/USDC. Competitors’ trading fees start at 0.50%, while maker/receiver fees on Binance.US range from 0% to 0.01%. Instant purchase fees are 0.50%. In addition, users who own BNB get a 0.25% transaction fee discount. BinanceçUS charges low fees for transactions. However, a slightly higher fee is charged for deposits with a debit card. In addition, if users use ACH or bank transfer for deposits and withdrawals, transactions are free of charge.
Is Binance.US Safe?
Binance.US offers security features for traders. It requires account holders to verify their identity to buy, sell and trade cryptocurrencies. Verification is used to prevent fraud and other illegal activities. Binance.US has never been hacked or breached with the security methods it provides. Also, multi-factor authentication needs to be set up in addition to authentication processes. Facial recognition is an option available on mobile devices. In addition, with the addition of crypto wallet addresses to the list, the devices used to log in can be easily viewed.
Advantages
- It is home to about 125 cryptocurrencies.
- It offers low transaction fees. On Binance.US, creator/recipient fees range from 0% to 1%, and instant buy fees are 0.50%. The fees of this platform show that it is very low compared to its competitors.
- Available educational resources are available. Those interested in learning about crypto and blockchain can access the Binance.US Blog, which offers educational videos and articles for investors of all levels.
- Transaction fee discounts are available. Users who own BNB can get a 25% transaction fee discount.
Disadvantages
- The authentication process may take longer. No trading or trading is possible on Binance.US until identity is verified. Also, the verification process may take several days.
- Not available in 4 states of USA.
- Although Binance.US supports over 120 cryptocurrencies, some competitors may offer a wider selection.
