The latest and complete review of binance. us, a cryptocurrency exchange 2022

 complete review of binance. us, a cryptocurrency exchange 2022

cryptocurrency exchange for Binance.US users. Its partner, Binance, is one of the largest crypto exchange companies in the world. Binance we are more competitively priced than its competitors but offers limited options for buying and selling all digital assets in the United States.

PROs

 Binance.US is a cryptocurrency trading platform for US users. Its subsidiary, Binance, is one of the largest cryptocurrency exchanges in the world. Although Binance.US has lower transaction fees than its competitors, it offers a limited selection of digital products to buy, sell and trade and is not available in all US states.

Low trading fees: Originator/subscriber fees on Binance.US range from 0% to 0.1% and transaction fees from 0.50%. The cost of this platform is very low compared to competitors.

Courses Available: Those interested in cryptocurrency and blockchain can join the Binance Academy, which provides educational videos and articles for traders of all experience levels.

Current Trading Fees: Binance Coin (BNB) users can earn 25% trading fees.

Defects are explained

Long-term certificate verification: You cannot buy, sell or trade on Binance.US until your certificate has been approved and verified for several days.

Affiliate has a poor regulatory history: Binance, a subsidiary of Binance.US, has had legal and compliance issues and is banned in many jurisdictions.

Limited asset selection: While Binance.US supports 60 cryptocurrencies, many competitors offer a larger selection.

Introduction

Binance and the United States. In partnership with BAM Trading Services, Binance.US is a cryptocurrency exchange for US residents. Users of the platform can buy, sell, and sell more than 60 popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA). The exchange offers low trading fees and discounts for top traders, but its business history is troubling.

 Investing in cryptocurrency, decentralized finance (Defi), and other initial coin offerings involve risk and speculation, and markets can be volatile. Consult an experienced professional before making any financial decisions. This article is not Investopedia or the author's cryptocurrency investment advice, and the accuracy or correctness of the information is not guaranteed.

Company profile

The global Binance platform was founded in 2017 by software developer Changpeng Zhao. In 2019, the company blocked access to users in the United States, citing regulatory concerns.

 Around the same time, Binance announced that it was buying the American company BAM Trading Services. The Treasury Department is working with a company registered with the Financial Crimes Enforcement Network (FinCEN) to develop Binance. The US. Binance.US is headquartered in San Francisco, California.

While the global Binance platform offers hundreds of available cryptocurrencies and is one of the best cryptocurrency exchanges in the world, their US partner platforms are limited. Binance.US offers over 60 cryptocurrencies not available to customers in Hawaii, Idaho, New York, Texas, and Vermont.

 Despite the limitations, the US platform's trading tools, low fees, and valuable educational resources may make it a viable option for some cryptocurrency traders. However, using the board is not that simple.

Cryptocurrencies are available on Binance.US

The Binance.US platform offers more than 60 cryptocurrencies to choose from. Users can buy, sell, and sell Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Cardano (ADA), as well as lesser-known assets such as VeChain (VET) and Orchid. (NEXT), ie.

Business information

Users can access the Binance.US platform through the exchange's online dashboard or mobile apps available for iOS and Android devices.

To buy or sell cryptocurrency on Binance.US, log into your account and click the "Crypto" button. If you want to trade, you can click on "trade" to see the market development or trade on the leading platform and OTC portals. The Advance portal is integrated with TradeView and includes simple spreadsheets, real-time pricing, and access to your order history. Through the OTC portal, customers can discuss offers directly with sellers. Note that OTC trading is only available to traders who earn more than $10,000.

Overall, the trading experience on Binance.US is best suited for experienced traders. Beginners can be overwhelmed by the process and tools of this exchange.

cost

One of the most interesting aspects of Binance.us is its low operating cost. Competitors’ trading costs start at 0.50%, while manufacturers / buyers spend 0% to 0.01% for Binance.us. 0.50% to buy a fast subscription. BNC consumers receive a 0.25% discount on trade commission.

Consumers with cryptocurrency exchange assets will receive a commission discount. Binance.us is an exchange.

Binance.us charges a hefty 4.5% bank card fee, although transaction fees are low. We encourage deposits via ACH or cable, which are free. Although it costs $15 for local transfers and $35 for international funds, taking the automated toilet is also free.

Below is a summary of the Binance.us payment system.

BINANCE US interest rates

Binance.us provides its users with industry-leading security features. The identity of the account holder must be verified to trade or use the cryptocurrency. This verification process takes a long time, but it is designed to prevent fraud and other illegal activities.

In addition to the ID, you need to define several authentication criteria, including mobile identification. It also gives you access to your encrypted wallet and password and you can easily see which devices are accessing it via the web dashboard.

 In 2019, hackers stole $40 million worth of bitcoins from Binance user accounts.

 When Binance users convert bitcoins to US dollars. The collaborative platform is still the same and it’s important to remember that security promotions are also detrimental to confidential currency exchanges.

Open a Binance.us account

The process of opening a Binance.us account is very simple. Right-click the "Start" button at the top. Enter your email address and phone number to get started. To buy, sell or trade on the platform, users must provide basic information about themselves and post photos published by government agencies.

As mentioned above, the identification process takes some time. Users report that maintaining a verified Binance.us account for weeks or months can be frustrating, especially if you want to trade immediately.

Provide customer service

Like other cryptocurrencies, Binance.us offers a variety of customer support options. You can submit the form or join the chat engine on the Binance.us support page. However, if you need urgent help with your account, you will not be able to call or send an email immediately.

While users are unable to talk to anyone directly, the Binance.us help page contains some of the most frequently asked questions. This feature is also useful for those who need answers to frequently asked questions.

consumer satisfaction

Binance.us gets a lot of negative feedback from third-party users. Many accountants report problems with trading, deposit, withdrawal, and identification procedures. However, the platform also received positive reviews, with users praising the low price.

The number of negative reviews about Binance.us is not surprising since cryptocurrency exchanges have received negative reviews from customers. If you want to trade or invest in cryptocurrencies, it is recommended that you compare the prices of different exchange users before opening an account.

Binance.us is based in the United States. Partner with Binance, the world’s largest secret exchange. It should be noted that US authorities are currently investigating Binance for money laundering and domestic trade.

Accounting Management

Binance.us provides a website and mobile application panel to manage your accounts. The computer and mobile phone experience are the same. After logging into your account, you will see your balance, purchase history, and logged-in devices. You can save money and buy and sell cryptocurrencies.

Binance.us and Kraken

Binance.us and Kraken are US-based exchanges that offer relatively low transaction fees compared to competitors like Coinbase. Both platforms have implemented KYC protocols to prevent fraud and protect users, and each offers industry-standard security features such as multi-factor authentication and wallet whitelisting. However, there are some important differences between the two platforms:

Kraken offers over 100 cryptocurrencies to buy, sell, and trade, while Binance.us only offers over 60 cryptocurrencies.

Kraken's trading fees are slightly higher than Binance.us. Kraken users pay 0 to 0.26% per transaction, while Binance.us users pay 0 to 0.1% per transaction.

While Binance.us does not offer margin trading or futures trading, Kraken does provide these options to some users.

Kraken is available in 48 US states, while Binance.us is available in 45 states.

Kraken has more customer support options than Binance.us. Kraken users can talk to anyone on the phone and get help with their accounts thanks to 24/7 live chat support.

Final decision

If you are an experienced high-volume trader, you may want to consider Binance.us because of the low fees. Even less experienced entrepreneurs can appreciate the platform's educational resources. However, Binance.us offers a limited cryptocurrency selection compared to other exchanges and does not support margin trading or futures trading. It's not available in all US states, so residents of Hawaii, Idaho, New York, Texas, and Vermont will have to look elsewhere.

Procedures

Investopedia helps potential cryptocurrency investors make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the best cryptocurrency exchanges for investors of all levels.

Exchanges are evaluated for points including security, fees, number of cryptocurrencies available, and more. We also checked whether the stock exchange is regulated by an appropriate agency or is completely decentralized. Our complete cryptocurrency exchange methodology, including the review process and weighting of data points, is available for review.