Crypto Trading Platform Buy, Sell, & Trade Crypto in the US

While both offer a similar experience to their user base, certain important differences could be important to the average cryptocurrency investor. Furthermore, users in America can only use Binance.US, barring those residing in Texas, Vermont, and a few other states. For instance, crypto exchange security review site CER ranked Binance.US as one of the most secure cryptocurrency ethereum exchange usa cryptocurrency ethereum trading algorithm exchanges as of October 2022, ahead of big names like Coinbase and Gemini. Binance.US offers a tiered trading system to their customers. Staking is the ability to earn passive income on cryptocurrencies by using them as collateral to help facilitate building the coin’s blockchain. Legally, it is not possible to use the standard Binance platform in the U.S.

1. Like Binance, the U.S. arm also offers an app and support for the Binance Wallet.
2. Legally, it is not possible to use the standard Binance platform in the U.S.
3. Some of the more popular ones include BCH/BTC, DOT/BTC, ONE/BUSD, and more.
4. If you’re interested in investing in crypto, Binance.US’s platform should offer most, if not all, of what you’re looking for.
5. As far as standard security measures are concerned, Binance.US supports two-factor-authentication.

The range of cryptocurrencies, features, and ease of use far outdoes Binance.US. Many hope that the number of faults and outages will reduce going forward. Reviews of Binance.US are, on average, worse than those of Binance, a small consolation for those who live coinstar adds naacp donation option on kiosks nationwide outside the U.S. Despite this, many of the issues pointed to regarding support for American customers relate to issues that stemmed from the company’s rushed set up of the newer website. While most of the UI is similar to Binance, the complexity quotient is low.

How do I create an account on Binance?

The U.S. edition of Binance offers fewer cryptos than its parent company supports in other geographical locales, and its educational resources are not as impressive. Binance.US and Binance International are being led and managed by separate entities. While the International firm is operated and managed by Binance.com with Changpeng Zhao leading the same, BAM Trading Services is the firm behind Binance.US. The U.S. arm of Binance was created to adhere to the U.S. regulatory compliance needs. Several factors explain why Binance.US launched a separate platform.

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Regardless of what platform you use, remember that buying cryptocurrencies generally comes with a big buyer beware. Crypto is highly speculative and subject to volatility on the slightest bit of news. Binance.US is available to many, albeit not all, U.S. residents. It’s important to note that this crypto exchange is not available to residents of Hawaii, New York, Texas and Vermont. Among countries to crack down on the company are Hong Kong, Malaysia, and Lithuania. However, many countries do have full use of Binance, and these countries present opportunities for growth in these areas for the future.

However, the platform is still restricted to residents in New York, Hawaii, Texas and Vermont. To truly serve U.S.-based residents to the best of its abilities, Binance.US would ideally be available in all 50 states. Our editors are committed to bringing you unbiased ratings and information. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally.

You can read more about our editorial guidelines and the investing methodology for the ratings below. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Join the Binance.US team and help us take the future of money to new heights. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

Plus, you can always use BNB for initiating trades and getting close to 25% discount on the existing trading fees. The only discernible fee-specific difference is that transfers made using debit cards are charged at 4.5% on Binance.US compared to 1% on Binance international. Therefore, identifying any one country as the best for Binance might not make sense. While it is operating in the U.S. as a separate entity, the parent firm need to adhere to the local regulations while operating in any other country. Binance has faced some deep-seated regulatory concerns in the United Kingdom, Canada, and several other countries, making them a tad bit difficult to operate from. The original Binance currently supports over 500 cryptocurrencies and over 12,000 trading pairs.

In fact, some Bitcoin (BTC) pairs can be traded at no fee whatsoever. For users based within the company’s jurisdictions, this easy-to-use platform offers an excellent option among the world’s many crypto exchanges. Binance.US compared to a restricted crypto suite, no futures trading support, and other limitations compared to Binance.

Binance has implemented several security measures to protect user funds and data. These include two-factor authentication (2FA) for account login, withdrawal whitelist controls, cold storage for the majority of funds, and regular security audits. However, it is always recommended to follow best security practices to enhance your own security on the platform. However, features like Tele-calling and online chats are Binance-specific.

This disparity in fee structure favors users outside the U.S., where the higher fees may be related to tighter regulation of crypto in the country. By comparison to other platforms, the fee structure of Binance.US and Binance looks more complicated. One of the clearest distinctions between the main Binance platform and Binance.US is the number of cryptocurrencies (and fiat currencies) with which you can trade. As of 2023, the number of cryptocurrencies supported by Binance.US stood at 130+. Do note that post the SEC crackdown, Binance.US decided to delist a handful of BTC, BUSD, and USD trading pairs. Some of the more popular ones include BCH/BTC, DOT/BTC, ONE/BUSD, and more.

In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, how to create a btc wallet and way to make profit from it 2021 these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Binance.US, on the other hand, was created to adhere to US regulatory compliance.

Still, the U.S. platform is still to catch up when it comes to providing users with the same amount of liquidity and ease when trading. Binance supports credit and debit card purchases and even transfers. Compared to the 4.5% in the U.S., Binance charges a mere 1%, making it the more affordable of the two. For credit card purchases, though, the overhead can go as high as 3.5% or a flat $10, whichever is higher.

This, for users in the U.S., is rather unfortunate, making it a slower experience overall, perhaps leading to some finding alternatives to Binance.US. While the options in the U.S. are more limited, there are alternatives to Binance.US. Still, liquidity concerns and the impact on the slippage and order execution rates haven’t surfaced as of yet.

First Digital USD

Binance.US is more accommodative towards the Binance Smart Chain and BEP-20 tokens. Now that we have some idea as to what transpired over the past few weeks let us now move to the actual differences between the two exchanges. Binance.US is available to most residents of the United States.

The parent firm has now evolved from the Binance Chains to the BNB Chains, bringing newer staking, voting, and smart contract development standards into the mix. Binance.US has a preferred crypto wallet partner, Trust Wallet, which is owned by parent company, Binance. Basic trading features count as one factor in the overall and beginner rankings. Other ranking factors include platform availability, customer service, educational resources, security and storage, staking and rewards, to name a few. Of course, not all of Binance.US’s competitors offer phone support either. So this may not be seen as a drawback for more experienced crypto traders.

However, the withdrawal fees differ, especially when bank transfers are concerned. Binance charges 1.5 USD for the same, whereas Binance.US charges a hefty 15 USD for each withdrawal. It is now evident that withdrawal fees on bank-based transfers are massively high in the U.S., something that can affect the user experience negatively. There are many cryptocurrency exchanges and wallets that provide great features for trading and investment, but one of the main platforms is Binance. Founded by Changpeng Zhao in 2017, Binance, the platform has grown massively over the years.