For anyone wondering if Binance US is safe to use were here too help. First off Binance is currently one of the largest cryptocurrency exchanges in the world. They originally launched worldwide in 2017, but as of a year ago they stopped all trading in the US. It was a massive disappointment to lots of people who had been using there platform including myself. Fortunately around 6-8 months later they introduced a US only trading platform due to regulations in the states. The good news is that it looks and works exactly the same as the worldwide platform. The bad news is your going to be limited to trading 30 coins as opposed to 100. Don’t let that shy you away however because its still pretty spectacular.
For those of you wanting to know if Binance US is safe to use lets take a look at there credentials. Since launching in 2017 they now do 1.2 billion in volume for daily trades, 1.4 million transactions per second, and provide 24 hour customer service. They also act as both a wallet and exchange built into one. Kind of a fun little fact the name Binance is a mashup of the words ‘binary’ and ‘finance’.
- In Business for 3 Plus Years
- One of Biggest Crypto Exchanges In the World
- 1.4 Million Transactions Per Second
For the US version of Binance you will be limited to trading 30 different coins. Over half of them are in the top 20 according to coinmarketcap.com. You can reference the picture below to see each coin available for trading.
- Over 30 Coins Available for Trading
Pro’s To Using Them
- Fiat Trading & Deposits – Users can link their bank accounts and deposit USD via ACH bank transfer (minimum of $1) or bank wire (minimum of $50). USD withdrawals are available via ACH bank transfer.
- Low Trading Fees – Binance US has extremely low trading fees for makers and takers at 0.1% respectively.
- Legal Compliance – Binance decided to open a US-only exchange to ensure regulatory compliance. Binance US is registered as a money services business and has partnered with a FinCEN-registered entity.
- Liquidity – Most markets on Binance US average well above $1M USD in 24 hour daily trading volume.
Con’s To Using Them
- No Margin Trading – Binance US does not currently offer margin trading.
- Limited Crypto Assets: – Only 30 plus crypto coins are available for trading on Binance US. On the flip side Binance lists 160 plus crypto coins.
I would say one of the biggest draws for using these guys is due to there mobile app. The interface for checking your wallet balance, and making quick trades is very user friendly. Whether your a beginner or experienced trader you will likely become addicted to logging in on a daily basis to see how your coins are doing. I know I do! Not only is Binance US safe to use, but comes with one of the best crypto trading apps in there respective space.
- Great User Interface
- Make Trades On The Go
- Advanced Charting Features
If your planning on investing in the crypto space Binance US is a top destination. They have built up a great reputation, provide 24 hour customer service, and have over 30 coins available for trading. There mobile app is also one of the best for making quick trades on the go. You can grab a free $15 in crypto by signing up here.