Binance US is a cryptocurrency exchange launched on September 18, 2019 by Binance, one of the largest cryptocurrency exchanges on the planet. Binance US is a San Francisco-based subsidiary that will be headed by Catherine Coley, a former Ripple executive.
This is an attempt to provide cryptocurrencies to US customers, using all the knowledge and resources to launch and improve Binance over the years.
The name Binance is a mixture of the words "binary" and "finance". That's why Binance for US customers just added the US to it instead of changing the name.
Binance has been accepting U.S. customers since its launch, but just as regulators in America started grumbling about them, Binance announced the launch of Binance U.S., which will comply with local regulations.
Although the parent company of Binance is officially based in Malta, they also have physical offices in Jersey, Singapore, Hong Kong, and Uganda. And now San Francisco!
The exchange offers its clients the most advanced technology and world-class trading services, while fully complying with US regulatory requirements. Binance.US offers three different trading platforms: basic, advanced, and OTC for peer-to-peer trading.
Binance.US invites new users to start with a basic trading platform that will continue to provide experienced traders with the information they need, such as spot price, daily prices, and trading volume.
For trading solutions, the platform uses the same technology as Binance, which processes 1.4 million orders per second. From the very beginning of trading on the platform, Binance US offers its customers high liquidity and excellent customer service. Binance US offers even better customer service than the parent platform.
The platform offers users a popular cryptocurrency wallet. Trust Wallet is the official wallet for Binance users, a free cryptocurrency storage app that is highly rated by users of Google Play and the App Store. However, users can use their own crypto wallet.
It also has its own mobile app. In December 2020, Binance.US has released an update to its mobile app that includes real-time price tracking, the ability to automate recurring purchases, and other customizable features. The mobile app largely mimics the same features as a desktop site.
Binance US is currently available in all but these seven states: Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont.
Binance US Fees
Binance US charges a trading commission of 0.1%
An instant buy/sell fee of 0.5% is also offered.
For the use of a debit card in transfers, it charges an additional fee of 4.5% (unlike its global broker, Binance.US does not allow credit card purchases).
There is no fee for depositing or withdrawing cash via ACH bank transfers, and bank transfers are $ 15 per transaction.
The commission for withdrawing cryptocurrency depends on the cryptocurrency: Bitcoin-0.0005%.
Binance US follows all the rules that fully regulated exchanges must adhere to and has an excellent reputation, and pays attention to user safety and constantly innovates.
All deposits are in US dollars on Binance.The US is held in custodial bank accounts and is insured by the Federal Deposit Insurance Corporation for up to $ 250,000 in the event of bankruptcy.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.