February 4, 2022

Binance US Review

Read more about Binance US
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Binance.US is the American arm of one of the largest crypto exchanges in the world. How does it compare to Binance and other popular exchanges?

Binance US
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Overall Score

4.3

Cryptocurrency Trading

5.0

Minimum Deposit

5.0

Interest Accounts

2.0

Mobile App

4.0

Commissions and Fees

5.0

Ease of Use

4.0

Safety

5.0
5-point scale (the higher, the better)

Pros and Cons

  • Extremely low fees
  • Over 65 coins
  • High liquidity
  • Not beginner-friendly
  • Limited staking

Bottom Line

Low-fee exchange popular with frequent crypto traders in the US

It's no secret that Binance has had a strenuous relationship with the US government. In 2021, the U.S. began investigating Binance for money laundering and tax evasion.[1]

As a result, the exchange launched Binance.US to continue operating in the States. It's among the top 10 cryptocurrency exchanges by volume, according to Coinmarketcap.

So how does Binance.US compare to Binance and other popular exchanges? And is it worth using? Keep reading to learn more.

What is Binance.US?

Binance.US is the U.S. branch of the cryptocurrency exchange Binance. They were launched in 2019 and are operated by BAM Trading Services based in San Francisco.

While Binance.US is a separate entity, it runs on the same engine and wallet technologies licensed from the original Binance exchange.

Binance.US allows American cryptocurrency traders to take advantage of the features and low fees that Binance is known for.

The services offered by Binance.US are not exactly the same as those on the original Binance. Keep in mind that U.S. users may find that some things that are available overseas are not available here.

What Coins Does Binance.US Offer?

Binance.US doesn't offer as many cryptocurrencies as the original Binance (over 500 coins). However, they do offer a list of 65+ popular coins, which is comparable to most popular crypto exchanges.

Here's a look at what they have to offer:

Full list of supported coins on Binance.US:[2]
  • 0x (ZRX)
  • 1inch Network (1INCH)
  • Aave (AAVE)
  • Algorand (ALGO)
  • Amp (AMP)
  • Ankr (ANKR)
  • Augur (REP)
  • Avalanche (AVAX)
  • Axie Infinity (AXS)
  • Band Protocol (BAND)
  • Basic Attention Token (BAT)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • BNB (BNB)
  • BUSD (BUSD)
  • Cardano (ADA)
  • Cartesi (CTSI)
  • ChainLink (LINK)
  • Compound (COMP)
  • Cosmos (ATOM)
  • Curve (CRV)
  • DAI (DAI)
  • Dash (DASH)
  • Decentraland (MANA)
  • Dogecoin (DOGE)
  • Elrond (EGLD)
  • Enjin Coin (ENJ)
  • EOS (EOS)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Fantom (FTM)
  • Filecoin (FIL)
  • Harmony (ONE)
  • Hedera Hashgraph (HBAR)
  • Helium (HNT)
  • Horizen (Zen)
  • ICON (ICX)
  • Kyber Network Crystal v2 (KNC)
  • Litecoin (LTC)
  • Maker (MKR)
  • MIOTA (IOTA)
  • Nano (NANO)
  • NEAR Protocol (NEAR)
  • NEO (NEO)
  • OMG Network (OMG)
  • Ontology (ONT)
  • Orchid (OXT)
  • Pax Gold (PAXG)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • QTUM (QTUM)
  • Ravencoin (RVN)
  • Shiba Inu (SHIB)
  • Solana (SOL)
  • Stellar Lumens (XLM)
  • Storj (STORJ)
  • Sushi (SUSHI)
  • Tether (USDT)
  • Tezos (XTZ)
  • The Graph (GRT)
  • Uniswap (UNI)
  • USD Coin (USDC)
  • Vechain (VET)
  • VeThor Token (VTHO)
  • Waves (WAVES)
  • Yearn.Finance (YFI)
  • Zcash (ZEC)
  • Zilliqa (ZIL)

What Features Does Binance.US Offer?

There's a lot you can do on the Binance.US platform. Let's take a look at what sort of features they offer users.

Exchange
The main feature of Binance.US is its exchange. Despite being exclusive to the U.S., it consistently ranks in the top 10 exchanges by volume. Its popularity is likely due to its low fees (more on this below) and a good selection of popular cryptocurrencies.

Available via desktop and mobile app, the Binance.US exchange is modeled after a typical stock exchange interface. It may be a little intimidating to beginner traders at first. But with a little effort, most traders will have no trouble getting the hang of using it. Here are a few popular features of the Binance.US exchange:

  • Place market orders, limit, and stop limit purchases
  • Track open orders and order history
  • Monitor prices in real-time
  • Monitor portfolio performance over time (if you keep your coins on the exchange)
  • OTC trading desk (minimum trade amount equivalent to $10,000 USD)[3]

Staking
Staking allows users to earn interest on their cryptocurrency holdings when they leave them on the Binance.US platform.[4] Binance.US currently has a limited number of coins available for staking, with the following rates at time of writing:

  • Vechain 1% - 3%
  • XTZ 2% - 4%
  • ATOM 1.5% - 3%
  • ALGO 4.5% - 6.5%

These rates are subject to change, and you can find an up-to-date list here.

Binance.US Fees to Look Out For

Where Binance.US really stands out from most other cryptocurrency exchanges is its fees, especially compared to popular exchanges like Coinbase.

Their general fee is 0.1% for spot trades, and a 0.5% Buy/Sell Crypto fee.

There are no fees for USD deposits or withdrawals made by ACH transfer. Domestic Wires incur a $15 fee for withdrawals to domestic accounts and $35 internationally. Deposits by debit card will incur a 4.5% fee.

Typically, crypto deposits are free, while withdrawal fees vary widely based on which currency you're dealing with. You can find a detailed breakdown of their fees by coin here.

Binance.US also offers a VIP discount system based on the holdings of Binance Coin (BNB), the platform's native token. When you hold BNB in your account, it will be used to pay fees by default at a 25% discount.[5]

Holding BNB also gives you VIP status, depending on the quantity in your account and your 30-day trading volume. VIP Status reduces trading fees in tiers.

For those who hold more than 50 BNB or have a 30-day trading volume of $50k or more (VIP Level 1), the maker/taker fee drops to 0.0900% / 0.0900%.

For those who hold more than 6,000 BNB or have a 30-day trading volume of $500,000,000 or more (VIP Level 10), the maker/taker fee drops to 0.0000% / 0.0200%.

How It Compares

Coinbase vs Binance.US
Coinbase is one of the most popular cryptocurrency exchanges in the world, and with good reason. Coinbase caters to beginners with a user-friendly interface, educational tools, and common features like staking.

Coinbase is a great place to start if you're new to trading and aren't confident in your abilities to use a more advanced platform.

However, that ease of use comes at a cost. In terms of pure trading, Binance.US is a much more affordable platform than Coinbase if you can get the hang of its interface.

Binance vs Binance.US
So what's the difference between Binance and Binance.US? To tell the truth, there's a lot that U.S. users are missing out on. Binance offers over 500 different cryptocurrencies, compared to the 65+ available on the U.S. platform.

Their fees are comparable, but Binance offers a much wider range of trading options, including margin and P2P trading, futures, options, and more.

Binance's Earn feature offers a wider variety and higher rates than staking on Binance.US, and they offer locked and DeFi staking as well. Binance offers crypto finance options including a Visa card, crypto loans, and Binance Pay, and has even recently added an NFT marketplace, all of which you won't find at Binance.US.

Binance.US is just one of many popular exchanges on the market today. Review our list of the best crypto exchanges to find the right fit for you.

Bottom Line

When it comes to low-fee trading of most popular cryptocurrencies, there aren't many platforms that are going to offer American traders better rates than Binance.US.

As far as features go, such as NFTs and staking, it's fairly limited compared to some of its competitors, and it isn't quite as easy to use as beginner-friendly exchanges like Coinbase, but if your primary interest is buying, selling, and trading crypto, then Binance.US is certainly worth a look.

References

  1. ^ "Binance faces probe by US money-laundering and tax sleuths": Bloomberg, 2021.
  2. ^ Binance.US List of Supported Assets, Retrieved 2/9/2022
  3. ^ Binance.US What is Binance.US OTC Trading?, Retrieved 2/9/2022
  4. ^ Binance.US What is Binance.US Staking?, Retrieved 2/9/2022
  5. ^ Binance.US Using BNB to Pay for Fees , Retrieved 2/9/2022
Binance US

Buy and Sell Cryptocurrency

Trade over 50 cryptocurrencies with low trading fees.

Crypto.com

USD $10 Sign Up Bonus

You will need to stake in $1000 CRO to earn USD $10 worth of CRO. Only the first amount of CRO you stake is used to calculate the sign-up bonus.

BlockFi

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
$100 - $1,499$15
$1,500 - $19,999$20
$20,000 - $39,999$40
$40,000 - $74,999$75
$75,000 - $99,999$100
$100,000+$250

eToro

Deposit $100 and Get $10

For a limited time, you can get $10 when you deposit $100 in your eToro account. Here's how:
  1. Sign up for an eToro account
  2. Deposit $100
  3. Explore stocks, ETFs, and crypto
You'll automatically receive $10 directly to your account balance. eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.
Expires 12/31/2022

Jeremy Harshman is a protector of art and writing at CreditDonkey, a crypto comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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