Binance US Review

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?

6/8/2023 Update: Binance US is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new customers.

Binance.US was launched in September 2019 and operates separately from its partner company, Binance, one of the world's biggest crypto exchange.

Binance.US provide crypto trading services to U.S. based customers, but it is not available in every U.S. state. 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 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 600 coins). However, they do offer a list of 120+ popular coins, which is comparable to most popular crypto exchanges.

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

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 is one of the largest cryptocurrency exchanges by trading 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)^[2]

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 trading fees are up to 10x lower than other crypto platforms. They offer zero fees on Bitcoin (BTC) spot trading and a low 0.5% Buy/Sell Crypto fee.

Binance.US uses 3 tiered pricing model for trading pairs:^[3]

• Tier 0 (aka Free Trading) - zero trading fees regardless of trading volume; includes four Bitcoin spot trading pairs: BTC/USD, BTC/USDT, BTC/BUSD, and BTC/USDC, with a promise of more coins, tokens, and pairs to be added.
  
• Tier I & Tier II - qualify for volume-based discounts; trading fees are based on a per-asset basis.

Binance.US also offers 25% discount on both maker and taker fees when you use the platform's native token Binance Coin (BNB) to pay for trading fees.^[4]

• Spot trading with BNB discount: 0.075%
  
• Spot trading without BNB discount: 0.1%

You can also qualify for even greater discounts on trading fees if you maintain higher 30-day trading volumes on which the VIP levels will be determined. The VIP program is their way of rewarding high-volume traders. By increasing your trading volume, you can lower your trading fees.

For those with a 30-day trading volume of less than $10K (VIP Level 1), the maker/taker fee drops to 0.10% / 0.20% for Tier I. For those with a 30-day trading volume of $500,000,000 or more (VIP Level 9), the maker/taker fee drops to Free / 0.05% for Tier I.

There are no fees for USD deposits or withdrawals made by ACH transfer, while domestic wire withdrawals have $10-15 fee. Deposits by debit card will incur a 3.75% 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.

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 and educational tools.

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 600 different cryptocurrencies, compared to the 120+ 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 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.

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, 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

6/8/2023 Update: Binance US is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new customers.