Binance.US is a cryptocurrency exchange with more than 50 cryptos to buy, sell, and trade. Are you considering diversifying your investment portfolio with crypto holdings? The exchange may fit the bill.
What is Binance?
Binance.US offers you the platform to buy and sell cryptos with low trading fees. You can create an account in minutes, set recurring buys, and take advantage of low-cost trading. The exchange can help new crypto investors and experienced traders alike.
Binance was founded in Hong Kong by Chanpeng Zhao in 2017. The US company, Binance.US, was launched in 2019 and is based in San Francisco.
At the moment, Binance.US only serves residents of certain states.
What is Cryptocurrency?
Cryptocurrency is a digital currency that uses cryptography for security. Currently, crypto acts more like a store of value, either as a digital asset or crypto asset.
How does Binance work?
Binance.US offers state-of-the-art storage technology, access to various cryptocurrencies and trading pairs, and low fees. Through the platform, you can:
- Buy, sell and trade over 50 cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Binance Coin, and USD Coin.
- Crypto-to-crypto trading
- P2P trading (peer-to-peer) allows for direct trades with buyers and sellers.
It’s crucial to understand crypto trading is not a suitable investment type for everyone. Cryptocurrencies are known for volatility. As a result, you may lose your entire investment.
Features & Benefits
Binance is a platform allowing you to diversify your investments with cryptocurrency holdings. As a crypto trader, you’ll benefit from the following:
- Trading: buy and trade 50+ cryptocurrencies using Basic, Advanced, and OTC for peer-to-peer trading.
- Coins: Supports Bitcoin and Ethereum, Bitcoin Cash, stablecoins like USD Coin, and other popular altcoins. It also offers its Binance Coins.
- Crypto Trading Pairs: Offers more than 50 crypto-to-crypto trading with Bitcoin and eight other digital currencies
- Recurring Buys: Automatically invest on a scheduled basis with dollar-cost averaging.
- Advanced Features: A powerful interface with real-time order books, charting tools, and trade history
Crypto Wallets: Trust Wallet is the official wallet for Binance. Trust Wallet is a free app to store your cryptocurrency with high ratings on the Apple and Google Play stores.
You may want to consider storing your crypto assets in cold wallets.
- Account minimum deposit: $10
- Be at least 18 years old.
- Pass identify verification.
- General Transaction fees: 0.1% spot trading fee; 0.5% Instant Buy/Sell fee.
- Debit card transaction fees add 4.5%.
- Other fees may apply.
Who is it best for?
Binance.US is best for anyone looking to trade cryptocurrencies. Whether you’re a crypto enthusiast or an advanced user, you’ll enjoy the fee structure, security measures, and advanced options.
In our Binance.US review, we learned it’s a highly rated crypto exchange. It’s suitable for both beginners and advanced traders. Unfortunately, you don’t get access to hundreds of cryptocurrencies compared to its parent Binance. However, you’ll still get access to a similar trading platform with a simple interface, security features, and a wide variety of crypto assets.
Although limited in Coin offerings, the US platform benefits from its parent company, one of the largest cryptocurrency exchanges. Binance is rated a B- with the Better Business Bureau (BBB). Users complained about the identity verification process limiting their ability to withdraw their funds.
As for customer service, Binance.US only offers support ticket requests. There is no chat or phone support provided.
- Over 50 cryptocurrencies
- $10 minimum to trade
- Low trading fees compared with others
- Not available in all US States
- Does not accept credit card purchases
- No chat or phone support
Binance is the largest exchange by trading volume. It also offers 300+ cryptocurrencies with 40+ fiat currencies accepted. The US-based platform benefits from its parent company, providing a wide range of coins and features.
How to Start a Binance.US Account
The time needed: 3 minutes.
Step-by-step to open a Binance.US account
- Get started
- Create an account by clicking the link here.
- Register Account
- Enter your email address and password choice.
- Submit your application
- Verify your email address and authenticate using SMS for two-factor authentication.
- Verification Process
- Enter your name, address, and accept the account agreement. Then follow additional onscreen instructions.