If I could only reccomend one crypto app to IOS users it would be Binance US. Having been in the crypto space for the last 7 years I’ve tried out just about every exchange and mobile app. Binance hits the mark on just about every feature a crypto enthusiest could ask for. The app itself is super user friendly. It has over 60 coins that you can buy sell and trade. The fee’s are amongst the lowest out there at .1 – .05 percent for trading. It’s honestly not going to get any cheaper than that unless your using Robinhood or Webull which offers a maximum of around 7 coins currently. Let’s take a closer look at what sets the Binance US App apart, and some of the reasons to get involved in the crypto space.
Why Get Involved in Cryptocurrency?
Ever since the launch of Bitcoin, cryptocurrencies have gone mainstream and are now difficult to ignore by most investors. The adoption of cryptocurrencies as online payment has also grown significantly and this growth can be attributed to big brands adopting cryptocurrencies as means of payment.
If you’re still wondering what to make of digital coins and whether or not you should jump on the crypto bandwagon, here’s some clarity;
Bitcoin, the king of all cryptocurrencies, around match 2021 hit an all-time high of $60,000. A clear indication of mainstream adoption of the digital coin by many financial institutions. That’s not all, it was also reported that many legacy financial institutions adopted various cryptocurrencies.
This implies that cryptocurrencies have become a major part of both the Fintech and Financial industries. Furthermore, the decentralized nature of cryptocurrencies eliminates the weak structure of the conventional banking system. Meaning you can easily sell, buy, trade, and store major and alternative crypto assets.
Who Is Binance US
Binance US is one of the top cryptocurrency exchanges across the globe. It was established by Binance in September 2019. Binance, the parent company of Binance US, is a renowned crypto exchange platform in the cryptocurrency sphere ever since its launch in 2017.
The Binance exchange platform originally offers collective services to its clients across the globe. However, due to various regulations and restrictions from the US government, Binance had to launch the Binance US which offers similar innovative technology and top trading services enjoyed by crypto investors and traders all over the world just for US clients. Above all, these services are under the full regulatory compliance of the United States. The name Binance originates from ‘binary’ and ‘finance’. And to serve just the US clients the suffix, ‘US’ was added to Binance.
Who Is Behind Binance?
Binance, the exceedingly famous company, is the brainchild of He-Yi and Changpeng Zhao. Zhao is presently the CEO of the company and has shown a lot of support and enthusiasm for the company. He has been featured on the cover of the Forbes magazine just three months after Binance was established, which was really a big deal. Also because Zhao was well known before the launch.
Zhao schooled in Canada where he got his computer science degree and then went on to learn the best tricks and tips and execute them at the Tokyo Stock Exchange.
Coins Available On Binance US App
Binance US lists more than 50 digital coins on its trading platform for investors to buy and sell. These coins include;
- Bitcoin (BTC)
- PAX Gold (PAXG)
- Ethereum (ETH)
- Harmony (ONE)
- Helium (HNT)
- Orchid (OXT)
- Tether (USDT)
- Cardano (ADA)
- Chainlink (LINK)
- Stellar (XLM)
Binance US, like most exchanges, offers a wide variety of trading pairs. Binance US offers both crypto-to-crypto and fiat-to-crypto trading pairs giving investors the flexibility needed to trade in the crypto market.
Binance US Fees
Crypto exchange platforms charge various fees on trading activities performed on their trading platform and Binance US is not an exception. Binance US charges its clients transaction, deposit, and withdrawal fees.
For every buy or sell action executed on the Binance trading platform using the U.S dollar, a transaction fee of 0.5% is charged. However, one can take advantage of its competitive 0.1% by spot trading on the Binance US trading platform.
That’s not all, there’s also a 25% discount offered on the transaction fees if you use the Binance Coin (BNB) to make payment for your transaction fee.
Deposit And Withdrawal Fees
Participating in the crypto market requires an initial deposit. On the other hand, you will also need to withdraw and sell off your profit after accumulating gains. Hence deposits and withdrawals are vital activities on crypto exchange platforms.
On deposit and withdrawals, Binance US charges minimal fees especially if you are making transfers via your bank using ACH.
ACH (automated clearing house)
- Minimum withdrawal of $1
- No deposit and withdrawal fee
- Minimum withdrawal of $100
- No deposit fee
- Withdrawal fees of $15 and $35 for local and international transactions respectively
- A deposit fee of 4.5%
Asides from the fees listed above, there are additional withdrawal fees charged for transferring your crypto assets into an external crypto wallet.
Benefits To Using Mobile App
The Binance mobile app is quite similar in functionality to the desktop version in terms of tracking live prices, and the ability to automate recurring buys. However, the mobile app is easier to manage and control while also offering a more flexible way to trade crypto assets anytime and anywhere. That’s not all, the mobile app also offers additional benefits such as
- Fast and Easier Login with QR-Code Scanner
- Home Page Icons Customization
- 24/7 Help and Support
- Easy monitoring of all internal and incoming transactions
- Quick crypto payments with binance Pay
Different Charting Options for Trading Purposes
Binance US offers three different charting options to its clients for ease of trading irrespective of the level of experience. These are
- Buy Cryptocurrency
The Buy Cryptocurrency option is ideal for novice and amateur investors who are eager to venture into the crypto space. This charting option has a simple design and is highly user-friendly.
Basic And Advanced Option
These chatting options are ideal for both intermediate and expert traders. They both consist of sophisticated tools and indicators. They feature real-time price changes, various trade options such as stop-limit orders, and various chatting functions. However, the basic charting option is more user-friendly than the advanced option.
Binance US is one of the top crypto exchange platforms you can trade with within the United States. It effectively caters to the trading needs of investors regardless of their experience level and risk appetite. Binance US is totally legit and we recommend you trade with this crypto platform. If you would like to get started click here.