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Binance US is the largest digital currency exchange which was launched in 2009. It is among the top 10 cryptocurrency exchanges in the world. So with respect to that, we will be having a look at the Binance US review.
While Binance US does not provide as much digital currency as crypto-to-crypto trading pairs as its parent company, the list of crypto selection at Binance US still overcomes many other digital currency exchanges that are based in the US. It is popular for its trade execution at a high speed. This exchange is ideal for:
- Digital currency users
- Peer-to-peer trading
- Crypto-to-crypto trading
A Complete Binance US Review
Now that we know the importance Binance US holds in the crypto space, it is also important for us to know why it is so. What are its features and why is it unique from its competitors? So without any further delay let us get started with a thorough Binance US review.
Features
What are the features that Binance US offers to its users? Here is a list of all those features for which you should consider Binance US over any other digital currency exchanges.
Cryptocurrencies offered
Binance US provides the sale and purchase of more than 50 digital currencies, that include Ethereum, Bitcoin, Chainlink, Bitcoin Cash, Litecoin, Dogecoin, and other popular cryptos.
Crypto trading costs and transaction fees:
Binance US fee for spot trading is 0.1%, which is lower compared to other U.S. based digital currency exchanges, including Coinbase and eToro. For crypto traders who are in a hurry, Binance US also provides a fee of 0.5% on instant sales or purchases.
Crypto-to-crypto trading
Binance US is presently providing 50+ crypto-to-crypto trading with Bitcoin and 8 other cryptocurrencies: Etherium (ETH), Bitcoin Cash (BCH), Cardano (ADA), Binance US Coin (BNB), Uniswap (UNI), Chainlink (LINK), VeChain (VET), Litecoin (LTC), and Tezos (XTZ). Many other digital currencies can also be traded for stablecoins Tether and Binance US USD, which is Binance US’s own stablecoin.
Platform
Binance US employs similar technology as the global platform and provides three distinct trading platforms: Basic, Advanced, and OTC to allow peer-to-peer trading. Binance US recommends new users to begin on the basic trading platform, which will still provide experienced traders the data they require such as spot price, 24-hour price performance, and the trading volume.
Security
There have been very few reported breaches at Binance US compared to other global crypto exchanges. The breach that was reported on the global Binance US site in 2019 dealt with hackers who stole 7,000 bitcoins worth $40 million at the time. Later, the company asserted it paid the losses in full to users who were affected.
Crypto wallet
The official wallet for the users of Binance US is the “Trust Wallet”. It is a free application to store digital currencies that are highly rated by Google Play and App Store users. Users, however, can also use their own choice of crypto wallet.
Mobile app
If you are tensed about how to use Binance in the US, then this point is for you. In December 2020, Binance US launched an update of its mobile application to include the ability to automate recurring buys, live price tracking, and more customizable options. The mobile application mimics much of the same operations as the desktop site.
Pros
Now that you know all the features that Binance US offers, let us see what are the advantages that you will get if you use this exchange for all your crypto activities:
- More than 50 cryptocurrencies are available.
- Offers low trading on Binance fees.
Cons
Advantages cannot come alone, there have to be some disadvantages with it as well. In our Binance US review, here are the disadvantages of this leading crypto exchange.
- This exchange is not available in seven U.S. states.
- Binance US offers fewer crypto-to-crypto currency pairs than the global Binance US site.
Verdict
After writing this Binance US review, it can be concluded that this exchange offers a wide option for digital currencies with a trading fee that is the lowest among its competitors. The trading interface of the US site is similar to that of the global site. The only difference in Binance US vs Binance is that Binance US does not offer wider digital currencies compared to its global platform, but other than that it is a perfect digital currency exchange for crypto users.
Frequently Asked Questions On Binance US Review
1. Is Binance US legit?
Binance US is legit. The list of crypto selections at Binance US overcomes many other digital currency exchanges that are based in the US. It is popular for its trade execution at a high speed.
2. Is Binance legal in the USA?
Binance is not regulated, so in the beginning, it banned all U.S. residents from using the platform. However, its new Binance US exchange remains within the U.S.
3. Is Binance US better than Coinbase?
Binance US fee for spot trading is 0.1%, which is lower compared to other U.S. based digital currency exchanges, including Coinbase and eToro. For crypto traders who are in a hurry, Binance US also provides a fee of 0.5% on instant sales or purchases.
