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Review of Binance.us Exchange (2024)
If you are a US citizen looking to use Binance, you are in luck! Launched in late 2019, Binance.us is the US partner of the main Binance cryptocurrency exchange and is run by BAM Trading Services who have licensed the software, logo, and all other relevant aspects of Binance for use in the United States.
Offering over 50 cryptocurrencies for investors and keeping the low trading fee structure of its international Binance counterpart, Binance US is a good option for US citizens with easy ways to buy and sell for beginners and the same advanced trading platform options as the original for more experienced traders.
Our Binance US review will help you decide if it is the right exchange for your needs.
Update: As of June, 2023, Binance no longer accepts USD deposits and is a crypto-only exchange.
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Binance.us Overview
- Some of the lowest fees in the industry
- Trade on the go with a user-friendly mobile app
- Buy crypto easily through a variety of methods
- Zero fee trades for certain coins like BTC and ETH
Binance.us Pros & Cons
Pros
Low trading fees
Quality mobile app
You can buy crypto through multiple avenues
Cons
Not available in all US states
Selection of cryptos is much lower than main Binance site
Crypto-only exchange with no USD support
How to Set Up Your Binance.us Account
It is extremely easy to set up your Binance.us account following these steps:
- Visit Binance.us on your favorite internet browser
- Click “Get Started” in the upper right corner
- Enter your email and choose a strong password
- Verify your email using the code they send
- Complete SMS verification
- Enable two-factor authentication (2FA)
- Complete Identity Verification
- Done! You can begin trading on Binance US
Please note you must have an US phone number and address to register on Binance.us. You can also register by downloading the mobile app and doing it through your phone.
What You Can Buy on Binance.us
You can buy over 50 cryptocurrencies on Binance US including but not limited to:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (LINK)
- Dogecoin (DOGE)
- Solana (SOL)
- Tezos (XTZ)
- VeChain (VET)
- Tether (USDT)
- Polygon (MATIC)
For a full list of available cryptos on Binance.us click here.
Binance.us Software
Binance US is available through your favorite internet browser, along with being available as a mobile app for both iOS and Android.
Best Features of Binance.us
The best feature of Binance.us is that it gives crypto users based in the USA access to some part of the Binance infrastructure.
Binance also has a solid mobile application for both Android and iOS,which means that users can easily access all of Binance US features on the go.
The flagship feature of Binance US, 0.1% maker and taker fees are the highest you will have to pay when making trades, and even lower if you hit trading volume and BNB holding targets.
Is Binance.us Safe?
Binance US is very safe with two-factor authentication strongly encouraged and emails sent to you anytime there is a log in to your account.
All data is encrypted Binance US tries to keep as much crypto in cold storage as possible in case there is a hack of the exchange. Binance US has also never been hacked.
What are Binance.us Fees Like?
Binance.us has very low trading fees, with both maker and taker fees being the same at 0.1%. This means no matter whether you are taking a trade off the books or adding a trade, you pay the same rate.
You can also lower your fees further by hitting 30-day trading volume numbers while holding Binance Coin (BNB)
There are no fees for non-credit card deposits.
Withdrawal fees for ACH vary by bank, while domestic bank wire is $15 flat. If you are looking to withdraw cryptocurrency to your own wallet, however, be prepared to pay some fairly high fees for certain cryptos, especially compared to the original Binance site. For example, on Binance.us it will cost you 16 Polygon (MATIC) to withdraw some, whereas on the original Binance it is only 0.15.
Frequently Asked Questions About Binance.us
Binance and Binance US share the same logo, proprietary token (BNB), and the exchanges use the same software, but they are not the same.
Binance US is available only to US citizens, while Binance Exchange is available internationally, while also having more selection of cryptocurrencies and features.
Binance US accounts are not available to users residing in all of the states listed below:
- Connecticut
- Hawaii
- Idaho
- Louisiana
- New York
- Texas
- Vermont
Binance US is run by BAM Trading Services based in San Francisco, California.
BAM has licensed all software, trademarks and logos from the original Binance in order to provide US users a way to access Binance’s services.
Due to regulatory issues that the US has with exchanges, US citizens are not permitted to use the original Binance iteration, as it does not meet regulatory standards.
As a result, Binance US was created as a way to migrate US users who had been using the original platform before regulations changed.
Binance US is not better than Binance simply because Binance offers more cryptocurrencies for trade, more features, a Visa card, and lower withdrawal fees than its US counterpart.
