Binance

Advantages, disadvantages and who should create an account

Advantages, disadvantages and who should create an account

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Costs

0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with a US debit card)

Types of investment

Cryptocurrencies

Costs

0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with a US debit card)

Types of investment

Cryptocurrencies

Benefits

  • Low and minimum trading fees
  • Opportunity to earn wagering rewards
  • Dozens of crypto trading pairs

The inconvenients

  • You cannot trade futures contracts or invest with a margin account
  • Limited selection of crypto trading tutorials and educational resources
  • Not available to residents of certain US states

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More information

  • Promotion: None at this time.
  • Features: Automated recurring purchases, OTC trades, staking rewards, crypto pairs, and institutional trading services
  • App Store Rating: 4.2 iOS / 2.4 Android

Global mark

Is Binance.US right for you?

Formed in 2019 by Binance and BAM Trading Services, Inc., Binance.US is an online cryptocurrency marketplace offering transactions to US-based individuals and institutions. The investment platform currently supports Bitcoin and over 60 other cryptocurrencies.

Binance also offers crypto trading pairs (virtual assets that traders can trade for each other), staking rewards, secure storage, over-the-counter (OTC) trading, and more.

But the investment app also has some limitations. You cannot currently use Binance.US if you reside in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont. Also, unlike exchanges like Kraken, Binance.US does not offer margin accounts or futures trading. Keep reading to see if Binance.US is right for you.

How does Binance.US compare?

Binance, Webull, and Kraken all offer cryptocurrency trading for assets such as bitcoin, ethereum, litecoin, and dogecoin. However, the three investment platforms have very different characteristics and you will find more or fewer crypto options, depending on the company you choose.

If you are solely determined to trade crypto, Binance.US and Kraken are the best options. Both offer staking rewards, services for individuals and institutions, and dozens of cryptocurrencies. But Webull is best suited for those who want to trade stocks, cryptocurrencies, ETFs, and options under one roof.

Ways to invest with Binance.US

Binance offers a range of investment options for retail and institutional crypto traders. These include recurring purchases (an automated feature that allows you to invest on a set schedule), Stablecoins (virtual assets backed by US dollars), crypto trading pairs, OTC trading and staking rewards. .

Fees and Rewards

Binance’s staking features allow you to earn rewards for holding crypto assets for a set period of time. For example, if you were to hold a minimum of 20 QTUM, you would earn an annual reward ranging from 1-2%.

As for the management fees, you can make a regular trade and incur a spot fee of 0.1%, or you can have your order filled immediately by paying 0.5% for an instant buy/sell trade .

The method you choose to fund your account also affects how much you will pay for the securities. While wire transfers and ACH transfers have $0 deposit fees, you’ll have to pay an additional 4.5% if you used a debit card.

Cryptocurrency trading pairs

Binance is also proud of its offer of cryptocurrency trading pairs. Trading pairs are two crypto assets that can be traded against each other. In other words, you can use these pairs to compare the value of each asset and determine if it makes sense to trade one against the other.

For example, Ethereum/Bitcoin and Litecoin/Bitcoin trading pairs are available on Binance.US (see a full list of eligible trading pairs here).

Institutional clientele

The crypto exchange offers a variety of services for institutions. These offerings – which primarily apply to market makers, proprietary traders, algorithmic traders, hedge funds, family offices and high net worth clients – include an OTC trading portal, monthly institutional staking rewards and customer support 24/7.

Institutional clients can also use a websocket feed that provides real-time market data, and the exchange’s trading API lets you take advantage of programmatic trading bots, according to Binance.US.

Binance.US also says it offers storage for crypto and USD assets. In fact, the exchange received a Score of 9.74 in cybersecurity from the CER crypto exchange ranking platform.

The Binance Mobile App is available for iOS and android devices.

Is Binance.US Trustworthy?

the Better Business Bureau gave Binance a B- since more than 1,000 complaints were filed against the company (it also attributes this rating to the length of time the exchange has been in business). BBB ratings typically range from A+ to F, and the bureau says it also considers a number of other factors when evaluating companies.

These include time in business, type of business, complaint history with BBB, government licensing and actions, advertising issues, and business practices. But be sure to also conduct your own research, as the BBB says its ratings don’t guarantee a company’s reliability or performance.

Binance.US has closed over 1,000 complaints in the past 12 months, according to BBB data.

Binance.US — Frequently Asked Questions (FAQ)

Is Binance.US the same as Binance?

Binance.US is the American division of the global crypto exchange Binance. Binance and BAM Trading Services, Inc. formed the US version in 2019. The platform does not offer as many assets as Binance, but it gives US customers access to over 60 cryptocurrencies.

Is Binance.US safe?

Yes. Binance.US is licensed in several US jurisdictions as a legitimate business, and the crypto exchange offers several security features, including two-factor authentication.

Should you use Binance.US?

It depends on what you are looking for in a crypto exchange. A great way to narrow down your decision is to carefully evaluate the platform’s fees, features, and available cryptocurrencies.