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- Overall rating
- Is Binance.US right for you?
- How does Binance.US compare?
- Ways to invest with Binance.US
- Is Binance.US trustworthy?
- Binance.US — Frequently asked questions (FAQ)
- Related terms
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Binance.US
4.15/5
4.15 out of 5 Stars
Account Minimum
$10
Fees
0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)
Investment Types
Cryptocurrencies
On Binance's website
Binance.US
4.15/5
4.15 out of 5 Stars
Account Minimum
$10
Fees
0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)
Investment Types
Cryptocurrencies
On Binance's website
On Binance's website
Details
Account Minimum
$10
Fees
0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card)
Editor's Rating
4.15/5
4.15 out of 5 Stars
Pros & Cons
Pros
Low trading fees and minimums
Ability to earn staking rewards
Dozens of crypto trading pairs
Cons
You can't trade futures or invest with a margin account
Limited selection of tutorials and educational resources on crypto trading
Not available to residents of select US states
Highlights
More Information
- Promotion: From November 1st, 2022 - November 30th, 2022 earn $20 when you trade $300 or more or $40 when you trade $500 or more and use code BINANCEFEAST
- Features: Automated recurring buys, over-the-counter trading, staking rewards, crypto pairs, and institutional trading services
- App store rating: 4.2 iOS/ 2.4 Android
Additional Reading
Overall rating
Feature | Insider rating (out of 5) |
Fees | 4.75 |
Investment selection | 4.50 |
Access | 3.25 |
Ethics | 4.50 |
Customer service | 3.75 |
Overall score | 4.15 |
Is Binance.US right for you?
Formed in 2019 by Binance and BAM Trading Services, Inc., Binance.US is an online cryptocurrency marketplace offering trading for individuals and institutions based in the US. The investment platform currently supports Bitcoin and more than 125 other cryptocurrencies.
Binance.USalso offers crypto trading pairs (virtual assets that traders can exchange for each other), staking rewards, secure storage, over-the-counter (OTC) trading, and more.
But the investment app also has a few limitations. You currently can't use Binance.US if you're a resident of the state of Hawaii, Texas, New York, or Vermont (and six other territories). In addition, unlike exchanges like Kraken, Binance.US doesn't offer margin accounts or futures trading. Keep reading to see if Binance.US is right for you.
How does Binance.US compare?
Min. Investment $10 | Min. Investment $0 ($2,000 for margin trading) | Min. Investment Depends on type of cryptocurrency |
Fees 0.1% spot trading fee; 0.5% instant buy/sell fee (4.5% fee for deposits with US debit card) | Fees 0% ($0 for options contracts) | Fees 0% - 0.26% |
Investment choices Cryptocurrencies | Investment choices Stocks, ETFs, options, ADRs, and cryptocurrencies | Investment choices Cryptocurrencies and futures |
Open an account | Open an account | Open an account |
Binance.US, Webull, and Kraken all offer cryptocurrency trading for assets like bitcoin, ethereum, litecoin, and dogecoin. However, the three investment platforms have very different features, and you'll find more or less crypto options, depending on which company you choose.
If you're solely set on trading crypto, Binance.US and Kraken are the best options. Both offer staking rewards, services for individuals and institutions, and dozens of cryptocurrencies. But Webull is a better fit for those who want to trade stocks, cryptocurrencies, ETFs, and options all under the same roof.
Ways to invest with Binance.US
Binance.USoffers a range of investment options for retail and institutional crypto traders. Among these are recurring buys (an automated feature that lets you invest on a set schedule), Stablecoins (virtual assets that are backed by US dollars), crypto trading pairs, OTC trading, and staking rewards.
Fees and rewards
Binance's staking features allow you to earn rewards for holding crypto assets for a set period of time. For instance, if you were to hold a minimum of 20 QTUM, you'd earn an annual reward ranging from 1-2%.
When it comes to management fees, you can place a regular trade and incur a 0.1% spot fee, or you can have your order executed immediately by paying 0.5% for an instant buy/sell transaction.
The method you choose for funding your account also affects how much you'll pay for securities. While ACH transfers and wires have a $0 deposit fee, you'd have to pay an extra 4.5% if you used a debit card.
Cryptocurrency trading pairs
Binance.USalso prides itself on its offering of cryptocurrency trading pairs. Trading pairs are two crypto assets that can be exchanged for one another. In other words, you can use these pairs to compare each asset's value and determine if makes sense to trade one for the other.
For instance, both the Ethereum/Bitcoin and Litecoin/Bitcoin trading pairs are available on Binance.US (see a complete list of eligible trading pairs here).
Institutional clients
The crypto exchange offers a variety of services for institutions. These offerings — which mainly apply to market makers, proprietary traders, algorithmic traders, hedge funds, family offices, and high-net-worth clients — include an OTC trading portal, institutional monthly staking rewards, and 24/7 customer support.
Institutional clients can also utilize a Websocket feed that provides real-time market data, and the exchange's trading API lets you take advantage of programmatic trading bots, according to Binance.US.
Binance.US also says it offers storage for crypto and USD assets. In fact, the exchange has received a 9.74 rating in cybersecurity from the CER crypto exchanges ranking platform.
The Binance.US mobile app is available for iOS and Android devices.
Is Binance.US trustworthy?
The Better Business Bureau has given Binance.US a B- since more than 1,000 complaints have been filed against the company (it also attributes this rating to the length of time the exchange has been in business). BBB grade ratings usually range from A+ to F, and the bureau says it also considers a number of other factors when evaluating companies.
These include time in business, type of business, complaint history with BBB, licensing and government actions, advertising issues, and business practices. But be sure to conduct your own research as well, since the BBB says its ratings don't guarantee a company's reliability or performance.
Binance.US has closed more than 1,000 complaints in the last 12 months, according to BBB data.
Binance.US — Frequently asked questions (FAQ)
Is Binance.US the same as Binance?
Binance.US is the US division of global crypto exchange Binance. Binance and BAM Trading Services, Inc. formed the US version in 2019. The platform doesn't offer as many assets as Binance, but it gives US customers access to more than 60 cryptocurrencies.
Is Binance.US safe?
Yes. Binance.US is licensed in several US jurisdictions as a legitimate business, and the crypto exchange offers multiple security features, including two-factor authentication.
Should you use Binance.US?
This depends on what you're searching for in a crypto exchange. A great way to narrow down your decision is by thoroughly assessing the platform's fees, features, and available cryptocurrencies.
Rickie Houston
Senior Wealth-Building Reporter
Rickie Houston is a senior wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. Previously, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He's contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »
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