Binance.US: Cost Estimate, Features, Security Level, Advantages, and Disadvantages
Binance.US is a crypto exchange launched in 2019 and offers its users access to trade over 120 types of cryptocurrencies. It is a division of the largest cryptocurrency exchange Binance, which has a worldwide reputation for its security, ease of use, and wide selection of trading pairs.
In this article, we’ll take a look at the main features of Binance US, including its functionality, security, fees, and user experience. We will also analyze the advantages and disadvantages of trading on this platform and assess its performance. If you are looking for a reliable and convenient cryptocurrency exchange in the USA, then this review may be helpful for you.
History of Binance.US launch
As we have already mentioned, Binance.US was launched in September 2019 as the US division of the Binance cryptocurrency exchange, founded two years earlier. The purpose of the platform was to provide safe and secure access to cryptocurrency trading on the USA market under local legal and regulatory requirements. The Florida-based company was led by CEO Brian Shroder.
Crypto exchange provides its users with access to a huge amount of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and many more. It also provides margin trading and staking and supports stablecoin markets. Binance US has a reputation for being a trustworthy and secure exchange through its use of advanced security technologies and strict identity and user verification procedures. Its fees are also among the lowest in the industry, making the exchange attractive to a wide range of users.
The crypto exchange offers a wide range of products for trading cryptocurrencies and conducting financial transactions with digital assets.
Binance.US is a platform that provides a wide range of products for trading cryptos and conducting financial transactions with digital assets. Users can use bank cards, bank transfers, and other payment systems to buy and sell cryptocurrencies on the exchange.
Cryptocurrency conversion services
In addition to buying and selling cryptocurrencies, Binance US offers cryptocurrency conversion services with favorable exchange rates, allowing users to quickly and conveniently exchange one cryptocurrency for another.
Spot Trading and OTC
Spot market trading is also available on the exchange, allowing users to buy and sell cryptocurrencies on market terms. OTC trading services are also available for large investors who want to trade outside of the public market.
For users who want to earn on their cryptocurrencies, the Binance.US crypto exchange provides a staking option, which allows you to earn additional income from participating in the cryptocurrency network. You can earn up to 9.50% per annum. By means of staking, service providers stake on behalf of you, and your funds are kept in cold wallets for safekeeping. The staking rewards are produced exclusively by the underlying protocols for each supported staking asset through blockchain validation and then transferred to the individual user.
In addition, the crypto platform allows its users to earn competitive rewards by supporting the security of blockchain networks and protocols.
Binance.US also provides services for institutional clients such as funds, hedge funds, and trading organizations that want to conduct large-scale trading in the cryptocurrency markets.
It allows financial institutions to access the digital asset market through an API. The company has 43 money transfer licenses, and the platform itself is regularly tested for compliance with the highest international security standards.
This function is a cryptocurrency payment gateway that allows users to integrate the exchange into their apps and services. This feature allows users to create their own cryptocurrency business based on a secure and compatible fiat terminal, which helps them scale their business and connect to the fast-growing crypto market.
With Binance.US Connect, users can provide their users with the ability to buy and sell over 150 cryptocurrencies through a simple and free integration. In addition, this feature provides dedicated customer support to help users get the integration up and running quickly and get strong post-launch support.
Crypto Domains is a solution that simplifies the process of working with cryptocurrencies. Users no longer need to remember long and complicated wallet addresses, they can use short and memorable domain names.
Domains start at $10 and don’t expire, which means you can own your domain name indefinitely.
The Crypto Domains feature also provides compatibility with more than 120 cryptocurrencies on the Binance.US platform, making the process of sending and receiving cryptocurrency faster and more convenient. In addition, support for 24 blockchain networks ensures that users can use their domain name in any situation.
The referral program on Binance.US provides an opportunity to earn additional funds by referring new users to the platform.
To start participating in the program, you need to log into your crypto exchange account and receive your unique referral ID, link, and QR code. Then you can share them with your friends and acquaintances.
When your friend registers on the cryptocurrency exchange and starts trading $100 or more within the first 30 days of registration, you will receive a $10 reward. You can get this reward for every user you refer to, and there is no limit to their number.
To track your referral bonuses, you can view your Rewards board in your account.
The affiliate program on Binance.US is an opportunity to earn money by referring new users to the platform. As an affiliate, you can earn up to $1,000 for every person you refer to the platform.
To use the affiliate program, you need to register on the crypto exchange as an affiliate by completing the registration form and submitting an application. Once your application is approved, you will be able to create and share content with your audience, including a unique affiliate link.
You can earn $10 for every referral that completes a $100 purchase or trade within 30 days of completing account verification. You can then earn a 20% commission on purchases and/or trades your referrals make during the first six months after you complete your account registration.
Moreover, Binance.US provides additional earning opportunities to top partners who attract more active traders. Partners can also receive advice and special promotions to expand their influence and increase income.
In general, the affiliate program on the platform can be beneficial for those who have a large audience and can attract new users to the platform. As with any affiliate program, your earnings will depend on the number and quality of referrals you get, so don’t expect instant success.
Binance.US advantages and disadvantages
- Wide Selection of Cryptocurrencies: Cryptocurrency exchange offers trading in over 120 cryptocurrencies, which is one of the largest selections of cryptocurrency exchanges in the US.
- Low Fees: The fees are among the lowest in the US cryptocurrency exchange market. The commission for creating orders and for order execution is 0.1%.
- High Security: Binance.US provides a high level of security for its users, including two-factor authentication, hack protection, and support for hardware wallets.
- Fast and Efficient Transactions: Crypto exchange provides fast and efficient transactions for buying and selling cryptocurrencies thanks to a high level of liquidity and modern trading technologies.
- Restrictions for some states: Some states in the US do not have access to Binance.US due to legal restrictions.
Fees on the Binance.US exchange
Binance.US offers some of the lowest fees in the cryptocurrency exchange industry. Trading rates are calculated based on your trading volume over the last 30 days and are calculated every day at 20:00 ET. When paying trading fees with Binance Coin (BNB), you get a 25% discount. It is worth noting that the exchange does not charge a commission for depositing cryptocurrencies, however, when withdrawing cryptocurrencies, you will need to pay a commission.
Fees may also apply when depositing or withdrawing funds in dollars, depending on the payment method used. The amount of commissions depends on many factors, such as the type of transaction, the chosen cryptocurrency, and current market conditions. All user fees are displayed on the “Purchase Preview” screen for review and consent before confirming the transaction.
How to Contact Binance.US Support
Binance.US provides its users with the ability to contact support. A 24/7 live chat is available to help clients resolve their issues, however, most of the tools offered by the platform are aimed at solving customer problems on their own.
To quickly and efficiently resolve their issues, users can use the support center, which provides frequently asked questions (FAQ) and detailed articles. If the problem is not resolved, then customers can contact the round-the-clock chat, where qualified specialists will help in resolving the issues that have arisen.
How to create an account on Binance.US
To create an account on Binance.US, follow these simple steps:
- Go to the official website of Binance.US
- Click on the “Register” button in the upper right corner of the page.
- Fill out the registration form, including your first name, last name, email, and password. You may also be required to verify your identity by providing scans of the required documents.
- Verify your account by following the instructions sent to your email.
- Sign in to your account and set up your profile.
Please note that Binance.US may have specific registration requirements depending on your location. You may also be required to verify your identity and other details before you can start trading on the platform.
Verification on Binance.US
Opening an account on the Binance.US platform does not require much time and effort, but it does require a verification process. If you want to start trading on the platform, you will need to pass a basic verification (verification), which includes providing personal data such as your legal name, date of birth, SSN, and address.
After passing the basic verification, you will be able to deposit and withdraw cryptocurrencies, buy and sell USD with bank transfers and debit cards, use the buy, sell, and convert function, as well as staking services and advanced trading.
Although the verification process may take some time, it is necessary to ensure the security and protection of your funds on the platform.
If you want to access all the tools and features provided by Binance.US, then you will need to pass advanced verification.
Enhanced Identity Verification on Binance.US requires the provision of an identity document such as a driver’s license or passport, as well as a selfie photo. After passing this verification, users gain access to additional features, including deposits and withdrawals from a bank account, trading in the OTC market, using API trading, and increasing trading limits.
How secure is Binance.US?
Binance.US takes many measures to ensure the safety of its users. First, the platform uses state-of-the-art data encryption techniques to ensure the security of its customers’ information. Secondly, it offers two-factor authentication, which requires an additional code to access the account, which increases the level of security. In addition, the platform uses a monitoring system that monitors suspicious activity on user accounts and immediately blocks them if unauthorized actions are detected.
Binance.US also works with trusted banks and payment processors to ensure the security of transactions and the storage of funds. In addition, cryptocurrency exchange regularly audits its security systems and procedures to ensure it meets the highest security standards in the industry.
How to automate trading on Binance.US?
To automate trading on Binance.US, you can use third-party services, such as the Cryptorobotics trading platform.
Cryptorobotics is a multifunctional trading platform that allows you to automate cryptocurrency trading on the Binance.US exchange. The service provides users with access to various tools that help automate trading strategies and simplify the trading process.
One of the main tools provided by Cryptorobotics is cryptocurrency trading bots. Bots have different strategies and functions that allow you to automatically trade on the stock exchange based on pre-set parameters. Bots available on the platform include AI Alpha, Optimus, and Cyberbot.
In addition, Cryptorobotics provides crypto signals from AI Alpha, which help determine the best time to buy or sell cryptocurrencies. These signals are generated based on market analysis and are used to make trading decisions.
Another tool available on Cryptorobotics is autofollowing, which allows exchange users to automatically open and close trades. The essence of this tool is that an artificial intelligence-based bot receives a signal from an analyst, processes it and, if necessary, opens an order to buy or sell cryptocurrency.
To start using all these features on Binance.US, you need to:
- Create an account on Cryptorobotics and provide your Binance.US API key to connect the desired trading automation tools.
- Specify all the necessary parameters in the settings.
- Start trading cryptocurrency automatically without the need for constant market monitoring.
What is Binance.US?
Binance.US is a cryptocurrency exchange founded in 2019, which is a subsidiary of Binance, one of the largest cryptocurrency exchanges in the world.
How to register on Binance.US?
To register on Binance.US, you need to go to the official website of the exchange and follow the instructions on the screen. To do this, you will need to enter your email address and phone number.
How does verification work on Binance.US?
Verification on Binance.US requires you to provide personal information such as your legal name, date of birth, SSN, and address. After passing the basic verification, you will be able to use all the features of the platform.
What cryptocurrencies can be traded on Binance.US?
More than 120 different cryptocurrencies can be traded on Binance.US, including Bitcoin, Ethereum, Litecoin, Ripple, Binance Coin, and more.
What are the fees on Binance.US?
Commissions on Binance.US are based on the user’s trading volume over 30 days. They start at 0.1% and can be reduced to 0.02% when trading volume is high.
How to secure your account on Binance.US?
To protect your Binance.US account, you can use two-factor authentication (2FA), create a strong password, use antivirus software, and not share personal data with other people.
How to deposit and withdraw money on Binance.US?
On Binance.US, you can deposit using a bank transfer, cryptocurrency, or debit card. To withdraw money, you must go through the verification process and select the appropriate withdrawal method.
How is Binance.US different from Binance?
Binance.US and Binance are two different cryptocurrency exchanges that have similar features but operate in different jurisdictions and have different sets of trading pairs and instruments.
Binance is a global cryptocurrency exchange based in China but currently registered in Malta. Binance offers a wide range of cryptocurrency pairs and instruments, including trading on margin, derivatives, staking, and more. Binance also has its own BNB token, which can be used to receive discounts on fees and other services on the exchange.
Binance.US is an American cryptocurrency exchange created specifically for the US market. Binance.US has a strong regulatory framework and complies with US Financial Commission (FINCEN) rules and industry regulations. Even though Binance.US offers a more limited set of cryptocurrency pairs and instruments than the global Binance, it still offers ample choice for cryptocurrency trading in the US market.
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