Binance.US Exchange Review
Binance.US is a centralized exchange that occupies #20 on Guru InvestingExchange Tracker. Binance.US trading volume is US$14,491,729 in the last 24 hours and US$96,029,793,069 in the last 7 days.
Binance.US currently has 129 cryptocurrencies, 1 paper currencies and 140 markets (cryptocurrency trading pairs). Most popular trading pair on Binance.US: BTC/USDT.
Read the full expert review of Binance.US here: Binance.US Review.
Compare Binance.US next to other exchanges here: Exchange comparison tool.
Binance.US is a centralized cryptocurrency exchange (CEX) located in the United States. It was founded specifically to provide cryptocurrency exchange services in the US following the ban on global iteration Binance. It offers spot and over-the-counter (OTC) tradingand bid.
The platform is managed BAM Trading Services. The number of available Binance.US trading pairs is more limited compared to other centralized exchanges for compliance reasons. Securities and Exchange Commission (SEC) Rules regarding certain assets that are considered illegal. In 2022, the number of available Binance.US assets exceeded 70.
The US dollar is the only fiat currency supported by the Binance.US cryptocurrency exchange. Although the platform was created specifically for the US cryptocurrency market, its availability is limited in some states. As of 2022, the service is available in 45 states, with licensing for the remaining states under negotiation.
Markets
Although the interface of the Binance.US crypto exchange similar to the international version, it offers fewer features. The main services offered by the platform are Binance.US. spot trading and direct cryptocurrency purchases. Users must fully comply KYC rules and provide proof of identity.
American platform uses BNB token This could provide users with additional discounts on the Binance.US cryptocurrency price they pay for the services. Commissions are calculated based on a tiered structure and using a producer-receiver model.
The Binance.US spot market is known as Advanced trading. Fees on Binance.US are calculated based on the order details when you place the order. The transaction fee rate may vary depending on trading pairs and market conditions when placing the order. The minimum required price for Binance.US cryptocurrency to trade is $10.
The fee structure for Binance.US cryptocurrency has a dual structure. Eat nine VIP levels determined by Binance.US 30-day trading volume and three levels of trading pairs – Level 0, Level I and Level II.
Binance.US trading pairs that use BTC As a base currency, they are all categorized as level 0. As of 2022, there are no Binance.US exchange fees for Bitcoin trading. Level I and II pairs use BTC, USD and USDT as quoted currencies. For the convenience of traders, all cryptocurrency prices on Binance.US are quoted in US dollars.
VIP 1 level is determined by 30-day trading volume on Binance.US below $10,000. At Level I, makers and takers receive a discount of 0.100% and 0.2000% respectively. The price of the Binance.US cryptocurrency in VIP 1 Tier II is reduced by 0.4000% for makers and by 0.6000% for takers.
Starting at VIP 6 and Binance.US volume between $20 million and $100 million, commissions are no longer charged to Tier I market makers. Likewise, at VIP 8 and VIP 9 where Binance.US trading volume exceeds $300 million , second-tier market makers are no longer required to pay commissions.
BNB token holders receive an additional 25% discount on the Binance.US crypto exchange. For example, at VIP level 1, level I maker and taker commissions are reduced to 0.0750% and 0.1500%, respectively, and at level II, commissions are reduced to 0.3000% and 0.4500%, respectively.
Cryptocurrency exchange Binance.US accepts a variety of payment methods, including debit cards, domestic transfers and Apple Pay. In addition, cryptocurrencies can be used to pay for the withdrawal of assets. Fees are disclosed at the time of withdrawal and may vary depending on the payment method.
The minimum withdrawal amount is adjusted depending on the payment method. There are no deposit fees when using ACH or internal transfer. There is a 3.75% fee for debit card and Apple Pay transactions. The price of Binance.US cryptocurrency in crypto-cryptocurrency transactions depends on the asset.
About company
Cryptocurrency exchange Binance.US was launched in 2019 after Binance was banned in the US due to regulations. Unlike its main branch, which is registered in the Cayman Islands, Binance.US is headquartered in San Francisco, California. Catherine Coley was appointed CEO at the time of launch.
In a short period of time, Binance.US has seen several changes in its executive team. Catherine Coley resigned in April 2021. Brian Brooks assumes the position of General Director. However, Brooks resigned three months later in August. The role then passed to Brian Schroeder.
At the beginning of 2022, the Binance.US cryptocurrency exchange raised more than $200 million and was estimated at $4.5 billion., making it one of the few crypto unicorns in the US. That same year, the company’s CEO named some of the future services such as DeFi Lending and NFT Marketplace.
Brian Schroeder is the current President and CEO of the Binance.US crypto exchange. He is an entrepreneur and business angel. He took over as CEO in 2021. Before joining Binance.US, he worked in business development at Ant Group and Uber.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
