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Binance.US Review

binance.us exchange

Binance.US is uniquely positioned as a crypto exchange in the US to target beginners, experienced traders, and institutions. They truly cater to these crowds uniquely and provide educational resources for those who are new, advanced metrics for the advanced, and a white-glove service for VIP clients. The white glove VIP service is available to institutional customers of Binance. Our VIP team assists institutions in prioritizing onboarding, financing, and execution – every step.

 

Use my exclusive signup link to register for a Binance.US account today. 

 

This review discusses those different tiers of service as well as other crucial review components such as: 

  • Binance.US vs Binance 
  • Is Binance.US safe?
  • Fees Associated with Binance.us?
  • More detailed rules of BNB 
  • Debit Card Transfers

Binance.US vs Binance: Brief History and Comparison

Compared to its parent firm, Binance.US does not have as many cryptocurrencies, however, Binance.US does have 50-plus trading choices and still outpaces many other US crypto exchanges. Prior to the commencement of Binance in China in 2017, Changpeng Zhao was the founder and created an order matching software system for high-speed traders. Over time, Binance had an issue with authorities, shifting operations from China to Japan. 

 

BAM Trading Services, Inc., and Binance formed Binance.US in 2019. The US branch was created to be an online market for cryptocurrencies enabling trade for US-based individuals and institutions. Binance.US was initially headed by Catherine Coley, a former leader for Ripple's XRP institutional liquidity. Before joining the blockchain startup company Ripple in 2017, Coley had previously worked for Silicon Valley Bank and Morgan Stanley.

 

However, as of May 2021, Biance.US is now operated by Brian Brooks at the CEO position. Brooks’ career was extensive in traditional banking and legal institutions. He has worked at a multinational legal business representing banks and other firms involved in financial services. He was the chief counsel of Fannie Mae, a 3 trillion dollar firm. Brooks was also a former executive of Coinbase and headed the Office of the Comptroller of the Currency (OCC). 

 

With high-profile names and levels of experience at the executive level of this company, you can expect Binance.US to maintain compliance and keep things safe. However, it’s helpful to get a little more assurance. Let’s explore Binance.US’s security.


Use my exclusive signup link to register for a Binance.US account today. 

Is Binance.US secure?

Binance.US ranks highly on the security of their exchange. For instance, crypto exchange security review site CER ranked Binance.US the third most secure exchange, ahead of prominent names like Coinbase and Kraken. Binance ranked with a 9.94 cybersecurity score. CER is a highly regarded cybersecurity assessment platform. All safety checks and evaluations are completed according to a single and continually developing methodology. 

 

These include over 18 indicators based on best cyber safety practices and are carried out by a team of highly competent researchers and whitehat hackers. The team has audited nearly 300 exchanges and issued 102 certifications.

2FA and Other Security Measures

Upon your registration, you will be asked to allow authentication by two-factor, create an anti-phishing code (which is how many hacks occur), verify your identity by means of a government identification number and create a withdrawal whitelist that will restrict who can receive money out of your account.

Fees Associated with Binance.US

Overall fee structure: 0.1% spot trading cost, 0.5% immediate purchase/sale cost. 

 

By default, your trading costs are automatically withdrawn from your BNB balance if you have BNB in your account. If you use BNB to pay for trading expenses, you will receive a 25% reduction (subject to change). That is a serious discount so users should definitely consider holding this coin that has soared in the early part of this year! 

 

Business fees are dependent on a 30-day (USD) trading volume and the daily BNB balance. 

 

More Detailed Rules of BNB 

Your trading volume and daily balance of BNB is analyzed every day at 0:00 AM (EST) in the last 30 days. Approximately one hour later your level and accompanying costs for your Maker/Taker will be changed. 

Use my exclusive signup link to register for a Binance.US account today.

Debit Card Transfers 

Debit card transfers will be charged an extra 4.5% (in contrast to the worldwide Binance.US brokerage). There are no cash or withdrawal fees for bank transfers using ACH, but wire transfers for bank transfers amount to $15 per transaction. Crystal currency withdrawal fee varies per cryptocurrency; Bitcoin withdrawal costs 0.0005 percent and a minimum of 0.001 bitcoin withdrawal amounts.

 

Binance.US provides three separate trading platforms: Basic, Advanced, and OTC for peer-to-peer trades. Binance.US proposes that novice traders start on the basic trading platform, but also woo users by providing expert traders with the information they need, such as spot prices, 24-hour price, and trading volume.

Pros & Cons

Pros 

The staking capabilities of Binance enables you to receive rewards for keeping crypto assets for a certain duration. For example, you would receive an annual incentive ranging from 6 to 9 percent if you had a minimum of .5 ATOM. 

 

Second, the user design is superior compared to some of their more archaic peers that are regulated to trade in the US. User design is such an important element, especially for those who are new to crypto. Binance.US, just like its parent company, has found a way to double down and make crypto user-friendly. 

 

Lastly, users have reported to like their selection of coins. It currently offers over 50 coins to trade with which is more than Coinbase or Robinhood. 

Cons 

Like many exchanges that we wrote about in reviews already, Binance.us could be limited depending on the jurisdiction you’re in. In the United States, you are not allowed to have a Binance.us Connecticut, Hawaii, Idaho, Louisiana, New York, Texas,  or Vermont resident. 

 

Also, the number of coins on Binance.US is more limited because it supports just 52 coins.

 

Use my exclusive signup link to register for a Binance.US account today. 

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