U.S. investors cannot use the original Binance, but they can use Binance.US; supports over 50 Cryptocurrencies to choose from for investors. It is a digital exchange available at low fees as compared to other Exchanges. Binance.US offers an easy-to-use buy/sell option for beginners. Advanced traders can get many profits through its primary and advance trading platforms. These Exchanges operate as separate companies. Users can ask a question through email with the help of Binance.US licensing software and wallet technology.
It has many benefits but is less transparent than other exchanges. The security measurements, storage options, and customer assistance are less efficient than others. Suppose you want to use exchanges for the long term. You have to use much more transparent exchanges to add more security measurements.
Binance.US offers a wide range of popular Cryptocurrencies to trade and a reliable platform on low fees, and that is why it has become so popular. The Binance.US platform offers the most popular cryptos for investing.
Pros and Cons of Binance.US
Pros
- Low fees as compared to other exchanges
- 25% trading fee discount by using Binance Coin (BNB)
Cons
- Not available in most countries
- Minimum trade $10
- Difficult to use
- Lack of security measurements
At Glance
- Support 50+ currencies available
- Not available in every state
- 0.1% fee charges for spot trades
- 0.5% fee charges for instant buy/sell
- Minimum trade$10
- Option for recurring investments
Available Cryptocurrencies
Users can sell or buy over 50 cryptocurrencies on Binance.US:
- Bitcoin (BTC)
- Ethereum (ETH)
- PAX Gold (PAXG)
- Harmony (ONE)
- Orchid (OXT)
- Helium (HNT)
- Chainlink (LINK)
- Cardano (ADA)
- Stellar (XLM)
- Tether (USDT)
The Exchange platform offers several trading pairs. It also provides options to trade two Cryptocurrencies without cash out one for USD. There are also options to trade between Crypto and a fiat currency.
Fees
Binance.US has a simple interface similar to Coinbase and other competitors. Users can automatically buy and sell Cryptocurrency by using U.S. dollars. It charges a 0.5% fee for each buy/sell transaction.
When you spot trade through the Binance.US trading platform, it charges a 0.1% standard fee. This type of trading and fee structure use in more advanced platform options, like Coinbase, Gemini.
Spot Trading:
When you are not buying Cryptocurrency while trading USD for it through market order.
Market order when you agree to trade for the currency at the current market price
- Limit order
You set a limit price to trade. When the currency finds the match price, the trade happens automatically.
Binance.US these orders in Maker for limit orders and Taker for market orders, it charges 0.1% fee.
If you use Binance Coin to pay your transaction fee, it offers a 25% discount on your fee charge. Hence, by holding Binance Coin in your Binance.US account, the trading fee automatically deposits from your Binance Coin balance.
Users can invest with the dollar cost method and use savings in the future. Users have to pay attention to the fee structure and pay more charges to add high-level security, usability, or other features.
Deposit and Withdrawal Fees
You have to deposit fees when you sell or withdraw U.S. dollars from your Binance.US account before trading Cryptocurrency. The platform consumes minimum fees to transfer money from your bank account.
Binance.US charges some withdrawal fees to move crypto holdings from the Binance.US account into the crypto wallet. The fee charged depends on which type of Cryptocurrency you are using.
Binance.US Security
Binance.US does not provide high-level security, but you can keep your coins within your account on the exchange. Users can access a third-party hot wallet to add more security measurements. They can withdraw their coins from Binance.US Account onto a hot or cold storage option at any time. But it charges some fees to do so.
Additional Details
Earn Rewards
The Exchange platform offers Staking: to earn free rewards for holding certain coins in the Binance.US account. The staking strategy helps to support the operations for coins Blockchains.
They can get up to 10% rewards through staking with Binance.US and make trades while taking part.
What is best in Binance.US?
Binance.US offers;
- An easy user interface
- More advanced trading
- Available on low fees
- Many fee discounts for using its Binance Coin
- The on-site blog gives some educational content
Important Things to Know:
Although it is available at low fees, it is not suitable for beginners. Not confirm that your investment is securing, storing, or protecting as compare to other Cryptocurrency Exchanges. Several other active exchanges offer simple user interfaces for long-term investors. The Exchange platform needs more transparency to safe investments, and it enables by paying fewer charges in fees.
Conclusion:
Binance.US supports several Cryptocurrencies with the trading lowest fee as compare to others exchanges. It provides a simple trading interface and a wide selection of Cryptocurrencies and Crypto-to-Crypto trading pairs. You have to make your purchase and start investing in Cryptocurrencies. There are several Cryptos available on the digital market, like Bitcoin, Etherum. The best Cryptos lead your exchanges and can get many profits on low risks.