Binance.US Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, often known as a “crypto exchange,” is a digital marketplace or platform where you may buy, sell, or trade cryptocurrencies. These platforms make it possible to convert one cryptocurrency to another or to trade cryptocurrencies for fiat currency (such as US dollars, euros, and so on) and vice versa.

Crypto exchanges are critical components of the cryptocurrency ecosystem because they provide liquidity, price discovery, and a secure environment in which users may trade digital assets.

Various cryptocurrencies are listed as trading pairs on cryptocurrency exchanges. A trading pair is made up of two cryptocurrencies that can be exchanged for one another. The BTC/USD trading pair, for example, allows users to exchange Bitcoin for US dollars.

On crypto exchanges, users can submit a variety of orders, including market orders (buy or sell at the current market price) and limit orders (buy or sell at a predetermined price). In the cryptocurrency world, security is of the utmost importance. To protect user accounts and assets, reputable exchanges use advanced security methods such as two-factor authentication (2FA), cold storage for cash, and encryption.

What Is Binance.US Crypto Exchange ?

Binance.US is the U.S. registered arm of the world’s largest cryptocurrency exchange by trading volume — Binance. The separate exchange was launched in response to U.S. regulations restricting the main exchange. While Binance owns the Binance.US name and intellectual property, the exchange is managed independently by BAM Trading Services. Both exchanges differ in terms of deposit and withdrawal methods, liquidity and trading fees.

Binance.US Crypto Exchange Quick Facts

How To Register At Binance.US Exchange?

To register on Binance.US, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Binance.US Exchange Supported Countries

Binance.US Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Binance.US.

How To Verify Your Binance.US Cryptocurrency Account ?

There is no mandatory verification at Binance.US , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Binance.US, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Binance.US Crypto Exchange?

There are two main options for topping up your balance on Binance.US . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Binance.US Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Binance.US Account ?

There are several steps you can take to help secure your Binance.US account and protect your funds:

1. Enable Two-Factor Authentication (2FA) : To enable two-factor authentication on your account, use a 2FA tool such as Google Authenticator or Authy. By requesting a one-time code from your mobile app whenever you log in or do particular tasks, you provide an extra degree of protection.
2. Use a Strong and Unique Password : Make a complex password with a mix of upper and lower case letters, numbers, and special characters. Avoid using information that is easily guessed, such as your name, birthdate, or common words.
3. Regularly Update Your Password : Change your password on a regular basis, and avoid using the same password for several accounts.
4. Enable Withdrawal Whitelists : Binance.The United States has a provision called “Withdrawal Whitelist.” You can provide a list of IP addresses that are permitted to withdraw funds. This offers an additional layer of security against unauthorized withdrawals.
5. Watch Out for Phishing Attempts : Be wary of phishing emails or websites impersonating Binance.US. Before entering your login information, always double-check the URL and make sure you’re on the official Binance.US website.
6. Avoid Social Engineering : Don’t give someone your personal or account information over the phone or online. Binance.US will never request sensitive information from you via email or social media.
7. By taking these steps, you can help protect your Binance.US account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

Fee Structure

Binance.US is the only major exchange to offer FREE Bitcoin trading in the U.S.

Enjoy 0% fees on Tier 0 pairs and some of the lowest fees in the industry on the rest.

Trading fees are determined by your 30-day trading volume*, calculated on a rolling basis every day at 8 p.m. EDT.

*Excludes self-trading and Tier 0 trading pairs

Get a 25% discount on Advanced Trading (Spot Trading) fees when you pay with BNB.

Check the table below to see how fees vary by tier.

Binance.US deducts a 20% to 35% service fee from earned staking rewards, which is reflected in the estimated rewards rate for each staking asset. Our standard service fee is 20% for ETH; 30% for ADA, ATOM, DOT, SOL, and XTZ; and, up to 35% for other assets.

See  Terms for more info.

Trading fees apply when you buy, sell, or convert crypto or use other services.

Fees are calculated and displayed on the “Preview Purchase” screen for your review before you approve the transaction.

Fee calculations differ based on factors such as the digital asset itself, transaction type, payment method, and market conditions such as liquidity and volatility.

To lock in prices during the “Preview Purchase” screen, Binance.US includes a spread when you buy, sell or convert crypto. No spread applies to Advanced Trading as you interact directly with our open order book.

Crypto deposits are free, though fees may apply when you withdraw crypto. Fees may apply to USD deposits or withdrawals depending on the payment method.

Fees are calculated and displayed on the “Preview Purchase” screen for your review before you approve the transaction.

Fee calculations differ based on factors such as the digital asset itself, payment method, product mix, transfer frequency, and network conditions such as congestion and current gas price.

Trading Fee Level

Get started or login to see your trading fee level

Trade On Go Binance.US Is 100% Mobile Friendly

Binance.US exchange has a mobile application that is available for both iOS and Android devices. The mobile application allows users to access the exchange’s services, including buying and selling cryptocurrencies, managing their accounts, and tracking their trading activities on the go.

The mobile app has a user-friendly interface that is optimized for mobile devices, making it easy to navigate and use. It also provides real-time price charts, order books, and trading history, allowing users to stay updated on the latest market trends and make informed trading decisions.

To download the Binance.US mobile app, you can visit the App Store or Google Play Store on your device and search for “Binance.US “. Once downloaded and installed, you can log in to your Binance.US account and start using the exchange’s services on your mobile device.

How To Contact Binance.US Customer Support Team?

If you need help with your Binance.US account or have any questions, you can contact Binance.US customer support through the following methods:

Please go to the Binance.US website: Go to the Binance.US official website (https://www.binance.us/).

Log in: If you already have an account, sign in. If you do not, you may need to create an account first.

Help Center : Search for the “Help Center” or “Support” link. This is normally found in the website’s main menu or towards the bottom.

Browse the Knowledge Base: The Binance.US Knowledge Base addresses many frequent queries and issues. You may be able to find answers to your questions without having to contact help.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Binance.US customer support can assist you efficiently.

Features Of Binance.US Crypto Exchange

Cryptocurrency Trading: Binance

Binance is a cryptocurrency trading platform.Users in the United States can trade a variety of cryptocurrencies. This includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as a wide range of altcoins.

User-Friendly Interface

The platform has a user-friendly and intuitive interface that is suitable for both novice and expert traders. It offers a variety of trading tools and charts to assist customers in making informed selections.

Security

Binance provides security The United States places a high value on security. To protect users’ funds, they employ industry-standard security techniques like as two-factor authentication (2FA) and cold storage for digital assets.

Trade Like A Pro

Discover trading opportunities across markets with Advanced Trading interface. Make smarter trades with deep liquidity, powerful charting capabilities, and ultra-low fees you won’t find on other crypto exchanges.

Build Your Portfolio With Staking

Start staking ETH, BNB, ADA, and 15+ Proof-of-Stake cryptocurrencies. Support your favorite projects and help secure their blockchain network. All crypto rewards passed onto you are generated by the protocols underlying each token eligible for staking.Earn Rewards

Simple

Discover the easy way to buy, sell, trade, and stake crypto

Secure

Protect your crypto with industry-leading platform security

Rewarding

Get more out of your crypto with low fee trading and staking rewards

Trading Pairs

The exchange provides a variety of trading pairs, such as USD pairs and cryptocurrency-to-cryptocurrency pairs. This gives traders who want to diversify their portfolios more options.

Staking

Binance is used for staking.The United States may provide staking services for some cryptocurrencies. Users can earn incentives by holding and locking up certain digital assets through staking.

Binance.US Good Or Bad Points

Binance.US is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Binance.US:

Good points:

1. Wide Range of Cryptocurrencies : Binance offers a diverse range of cryptocurrencies.The United States provides a diverse range of cryptocurrencies for trade, including prominent alternatives such as Bitcoin (BTC), Ethereum (ETH), and other altcoins. Traders looking for numerous investing choices may find this diversity appealing.
2. Low Fees : Binance has low fees.The United States is known for having competitive trading fees, especially when compared to other exchanges. They provide a cost system with tiers that encourages high-volume traders with lesser fees.
3. User-Friendly Interface: The platform has an intuitive and user-friendly interface that makes it accessible to both novice and professional traders. They provide both a simple and complex trading view to accommodate varied user preferences.
4. Security Features : Binance provides security features.To protect user funds, the US places a great emphasis on security, employing procedures such as two-factor authentication (2FA), withdrawal whitelists, and cold storage for digital assets.
5. Liquidity : Binance provides liquidity.Because of the platform’s significant trading volume, the US has good liquidity, which means you can frequently complete trades swiftly and at competitive prices.

Bad points:

1. Limited Geographic Availability : Binance has limited geographic availability.US is primarily available to US residents, and it may not service clients from all U.S. states. This can be a problem for overseas users.
2. Limited capabilities: While Binance.US has a good set of capabilities, it is not as sophisticated as the global Binance platform. Some advanced trading features and options may be restricted.
3. Regulatory Compliance: US cryptocurrency regulations can be severe, especially Binance.The United States has been working to comply with these regulations. This may result in limits on some services or coins for users in the United States.
4. Customer Service: Binance.US, like many other cryptocurrency exchanges, has received criticism for its customer service. Some users have claimed response time delays or difficulties in addressing concerns.
5. Withdrawal Fees : While trading fees are normally competitive, some users have discovered that withdrawal fees for specific cryptocurrencies can be very high.

Is Binance.US Is Safe Platform To Trade ?

Binance.The United States is still registered with and in compliance with applicable U.S. regulatory bodies, such as the Financial Crimes Enforcement Network (FinCEN) and the Commodity Futures Trading Commission (CFTC).

The exchange has introduced security elements such as two-factor authentication (2FA), withdrawal whitelisting, and cold storage of cash. Check to see if they have a solid track record of security.

Examine the responsiveness and quality of customer service provided by the exchange. A dependable customer care crew is critical for resolving any difficulties or concerns. Exchange provides insurance coverage for user funds, which might give an extra layer of security in the event of a security compromise.

In summary, Binance.US has taken several measures to enhance security, but it’s still important to be cautious and do your due diligence before trading on any platform.

Binance.US Conclusion

According to the information provided, Binance.US is the United States-based counterpart of the worldwide cryptocurrency exchange, Binance. It was created to comply with US rules that limit the main Binance exchange’s activities. Binance.US operates independently through BAM Trading Services, despite sharing the Binance name and intellectual property. Notably, both exchanges have differences in deposit and withdrawal procedures, liquidity, and trading costs.

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