Binance is a crypto exchange that has tens of millions of registered users. The exchange is well-liked, judging from reviews, and its security features, wide asset range, and low transaction fees make it an easy choice for many crypto traders who want as much of an advantage as they can get in the volatile market.
The specs on this leading crypto exchange are impressive. Every second, there are more than 1.4 million transactions, and the average daily tradingvolume of 2021 is 93.5B. One of the best features of this exchange is BNB, a blockchain software system that Binance and its community developed.
This exchange has a lot to offer, as you’ll see in this review. We’ll discuss the pros and cons of trading crypto at Binance, and we think you’ll find that there are more positives than negatives.
Pros and Cons
Pros
- Low fees compared to main rivals
- Wide variety of supported cryptocurrencies
- User-friendly trading platforms suitable for any level of crypto experience
- Allows staking
Cons
- Not available in all U.S states (unavailable in Hawaii, New York, Texas & Vermont)
- Parent company experienced major hacks in 2019 and October 2022
Recommended For
Despite its limitations on availability within certain states and concerns surrounding its parent company’s security breaches in the past years, Binance.US remains one of the most secure exchanges as ranked by CER ahead of big names like Coinbase and Gemini. With more than 150 cryptocurrencies supported on their platform along with features such as staking, this exchange proves itself worthy for both novice investors seeking basic verification or advanced users looking for increased limits on bank transfers/credit cards while enjoying additional benefits like OTC/API trading options.
Regulated By
- Lithuanian Securities Commission (Lithuania)
- Investment Industry Regulatory Organization of Canada (Canada)
- Australian Securities and Investments Commission (Australia)
Top Features
One of the key features that sets Binance.US apart from other exchanges is its support for staking on 26 different cryptos. This allows users to earn passive income by using their cryptocurrencies as collateral for building the coin’s blockchain.
Overview
- Type of Broker Non-Advisory/Executionary Broker
- Regulation & Licensing Binance.US is registered as a Money Services Business with FinCEN and is licensed in various US jurisdictions. Please see the list above.
- Assets Offered 600+ Cryptocurrencies
- Platforms Available Web, Mobile
- Mobile Compatibility Android, iOS
- Payment Types Accepted Bank Deposit, Credit/Debit, P2P, Cash Balance, Third Parties
Account Types
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Binance Main Account |
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Features |
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Account Currencies |
USD , EUR, CNY, AUD, INR, RUB, and other fiat currencies. You can also use a wide range of accepted stablecoins such as Binance USD (BUSD), Coinbase USD Coin (USDC), and Tether (USDT) to buy crypto. |
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Minimum Deposit |
$0 |
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Demo Account |
Yes |
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Trading Instruments |
150+ Cryptocurrency |
Trading Platforms
- The trading platforms offered by Binance.US cater to users with varying levels of experience in cryptocurrency trading. The intuitive interface makes it easy for both beginners and seasoned traders alike to navigate through various charts and execute trades efficiently.
Trading and Investment Tools
- One Click Trading Yes
- Trade off Charts Yes
- Email Alerts Yes
- Mobile Alerts Yes
- Stop Order Yes
- Market Order Yes
- Limit Order Yes
- Trailing Stop Order Yes
- OCO Orders Yes
- 24hr Trading Yes
- Charting Package Yes
- Streaming News Feed Yes
Compliance & Regulation
While Binance Holdings has faced regulatory scrutiny from agencies like the CFTC (U.S Commodity Futures Trading Commission), Binance.US operates independently under strict compliance guidelines within its jurisdictions.
Service Details
- Supported Languages English, Vietnamese, Polish, German, Italian, Spanish, Portuguese, French, Dutch, Chinese (Traditional and Simplified), Arabic, Korean, Russian and Turkish.
- Customer Service Hours 24/7
- Telephone Orders No
- Personal Account Manager Yes
Reliability & Security
Despite past security breaches affecting parent company Binance Holdings in 2019 ($40 million BTC hack) and October 2022 ($570 million BNB hack), these incidents did not impact the separate entity – Binance.US – which maintains strong security measures against potential threats. Crypto exchange security review site CER ranks them highly among secure exchanges ahead of big names like Coinbase and Gemini.
User Experience
Opening an account with Binance.US is a straightforward process, offering basic and advanced verification options to cater to different user needs. With over 150 cryptocurrencies supported on the platform, most traders will find their desired assets available for trading.
Overall, Binance.US provides an attractive option for U.S.-based crypto traders seeking low fees, staking opportunities, and a secure trading environment. While it may not be accessible in all states or offer as many cryptocurrencies as its parent company does internationally, it remains one of the top choices among U.S. traders looking to invest in digital assets.
Final Thoughts
Binance.US offers a user-friendly platform with competitive fees and an extensive range of cryptocurrencies for trading. Although its parent company faced security breaches in the past, Binance.US has maintained a strong reputation for safety among industry experts.
For those residing within the platform’s jurisdiction, Binance.US presents an excellent option to explore the world of cryptocurrency trading – just remember that investing in crypto carries inherent risks due to market volatility.
Contact Info
Headquartered in Florida, United States.
FAQs
Q: How Do I Contact Customer Support?
A: Binance.US customers can reach the customer support agents 24/7 via email, or live chat during select operating hours. For general inquiries and answers to commonly asked questions, visit their Support Center.
Otherwise, Binance also offers a live chat on the app, a live chat on the web or you can reach them by email.
Q: What are the Trading Fees on Binance.US?
A: Please visit Binance.US Fee Schedule page, https://www.binance.us/fee/schedule. Deposit and Withdrawal Fees (if applicable) are calculated and displayed on the “Preview” screen for your review before you approve the transaction.
Q: What do I need to get started?
A: You will need your phone number or email to get started, and you can access the registration page on the home page of the Binance website. Enter your information, and then click “GET STARTED” to proceed to the verification process.
App Store
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