- Good for USD to cryptocurrency trades at competitive rates.
- Not so great for cryptocurrency variety.
Check out our full list of pros and cons or read on.
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Binance.US review
- Fiat currencies
- 1
- Supported assets
- 161
This is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Our verdict
Binance.US is a popular cryptocurrency exchange with low fees and a large selection of altcoins.
Binance.US is a subsidiary of Binance, the largest crypto exchange in the world by trading volume.
Binance.US is best known for its large selection of altcoins even though Binance.US does not support as many altcoins as Binance.
The platform is also known for its low trading fees that become even lower when you use Binance Coin (BNB) to pay for your trades.
And you can stake select crypto assets via Binance.US to earn a yield on them.
On the downside, Binance.US has been reported to have insufficient customer support and the exchange is licensed to serve residents in all 50 US states.
Pros
- Advanced trading features. Binance offers an array of trading and charting tools.
- Staking offerings. You can stake over 20 crypto assets via the Binance.US interface, preventing the need to use a blockchain and Web3 wallet yourself. While this is convenient, staking still has its own unique set of risks that you should consider before depositing assets.
- Transparency of digital asset reserves. Binance.US’s cold wallet addresses are public. Anyone can audit its supply of digital assets.
- Complies with the Financial Crimes Enforcement Network regulations in the US. FinCEN is the peak body for regulating cryptocurrency exchanges in the US which requires Binance.US to comply with laws and regulations that are intended to provide certain protections for users.
- Trade with multiple fiat currencies. Binance.US allows you to trade with USD.
Cons
- Not available in all US states. Binance.US isn’t available in Hawaii, New York, Texas and Hawaii.
- Poorly rated customer service. Binance.US users have complained that customer service at Binance.US is not very responsive.
- Not available to all US residents. Binance.US is only available in 47 states. You can not use Binance.US if you are a resident of District of Columbia, Hawaii, New York, Texas and Vermont.
- USD deposits and withdrawals are not supported. Binance.US does not support USD trading accounts. You may still be able to purchase crypto using a credit or debit card via the platform's instant purchase feature, although foreign exchange fees might apply.
Cons
-
Not available in all US states. Binance.US isn’t available in Hawaii, New York, Texas and Hawaii.
Details
Product details
| Product Name | Binance.US Cryptocurrency Exchange |
| Fiat Currencies | USD |
| Cryptocurrencies | BTC, ETH, BNB, ADA, DAI, CRV, EOS, ETC, LTC, DOT & 151 more |
| Deposit Methods |
Cryptocurrency Debit card Wire transfer Apple Pay |
| Trading Fee |
Maker: 0-0.30% Taker: 0-0.45% |
| Deposit Fees |
Wire transfer: None Debit card: 3.75% Apple Pay: 3.75% Cryptocurrency: None |
| Withdrawal Fees |
Wire transfer: $10-15 (minimum $100 withdrawal) Cryptocurrency: Fees vary |
Binance.US announcement
On 27 March the Commodity Futures Trading Commission (CFTC) filed a civil enforcement action alleging that Binance has wilfully evaded US federal law and is operating an illegal digital asset derivatives exchange. Binance has issued a preliminary response to the action.
This action relates to separate business entities and it is not clear if it will impact the services of Binance.US.
Finder Score
★★★★★About Binance.US — company background
Binance is among the largest cryptocurrency exchanges in existence. Currently experiencing more than $2 billion per day in trade volume, the platform has grown considerably since its launch in 2017.
In 2019, regulations within the United States forced Binance to create an alternative for the country’s customers. The result was Binance.US, which is run by BAM Trading Services with licenses from the original Binance platform. This review covers everything you need to know about the US focused version of the cryptocurrency exchange.
Listed Binance.US crypto exchange assets
Binance.US supports over 161 cryptocurrencies, but some notable assets are missing. Namely, Lido Staked Ether, Toncoin and TRON, which are in the top 20 cryptos by market cap. In total, 17 of the top 20 cryptos are available on Binance.US.
Popular assets on Binance.US supports
Bitcoin (BTC) supports
Ethereum (ETH) supports
Tether (USDT) supports
BNB (BNB) supports
Solana (SOL) supports
USDC (USDC) does not support
Lido Staked Ether (STETH) supports
XRP (XRP) supports
Dogecoin (DOGE) does not support
Toncoin (TON) supports
Cardano (ADA) supports
Shiba Inu (SHIB) supports
Avalanche (AVAX) does not support
TRON (TRX) supports
Wrapped Bitcoin (WBTC) supports
Bitcoin Cash (BCH) supports
Polkadot (DOT) supports
Chainlink (LINK) supports
NEAR Protocol (NEAR) supports
Polygon (MATIC)Binance.US fees
Deposit & withdrawals fees
| Transaction type | Fee |
|---|---|
| Deposit funds | Wire transfer: None Debit card: 3.75% Apple Pay: 3.75% Cryptocurrency: None |
| Withdraw funds | Wire transfer: $10-15 (minimum $100 withdrawal) Cryptocurrency: Fees vary |
Binance.US deposit methods
- Cryptocurrency
- Debit card
- Wire transfer
- Apple Pay
How to sign up on Binance.US exchange
Before you can even get started trading on Binance.US, you have to go through the rigorous verification process (which usually involves providing proof of identification). This can take time. The reason for this is Binance.US's commitment to certifications and compliance with regulations and insurers.
- Get started
After selecting the Get Started button, fill in the create account form. - Set up payment
Before you can start trading, you have to add your bank account to your Binance.US account. There are several options to choose from, so choose the option most compatible. - Provide identification
Before you can make withdrawals and increase your transaction limits, you must submit proof of address and some additional identification. Use either a passport or a driver's license for this. - Start trading
After all that is processed, you're ready to trade on Binance.US.
Using the Binance.US app
The Binance.US app is available for desktop and mobile devices. The app can be downloaded from Google Play and the Apple App Store.
Binance.US is available as an app for Apple and Android mobile devices. Though not as full-featured as the original Binance platform, the Binance.US interface is streamlined in an easy-to-use format that both beginning and experienced investors can take advantage of.
Is Binance.US safe?
Past hacks. Binance.US has never been hacked. However, the flagship exchange, Binance, suffered a massive hack in 2019. Approximately $40 million worth of Bitcoin was stolen from user accounts on the platform. To its credit, Binance quickly returned the stolen funds to users.
Security audits. Binance.US offers a number of security features for user accounts. Among them is 2-factor authentication (2FA). You can activate 2FA via SMS or through the Google Authenticator app. In December of 2021, Binance announced a security audit program to enhance the protection of user accounts. Project Shield audits BEP-20 and ERC-20 projects listed on the exchange.
Insurance. US dollar deposits are held in pooled custodial accounts at insured banks. As such, all US dollar deposits made on Binance.US are eligible for FDIC insurance. Binance Holdings Ltd. has also created a Secure Asset Fund of over $1 billion to help combat potential hacks to user accounts.
Keeping your crypto secure
All centralised exchanges, including Binance.US, are vulnerable to counterparty risks like hacking, theft and insolvency. Using a self-custodial or hardware wallet is widely accepted as the best way to improve the security of your funds. We've shared some of our top picks below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 9,000+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $179 |
Price (USD) $49.99 |
See more of the best crypto wallets
Binance.US customer support
Binance.US customer service does not have the best reputation. The only way to contact support is through a form on the company’s support page. There is a virtual assistant that can help with basic questions, however.
The reputation of the site remains somewhat mixed, largely due to the wait times associated with customer support. Users can only contact Binance.US customer support via email. Reviews concerning Binance.US have consistently knocked the cryptocurrency exchange for its lack of timely responses.
Unfortunately, customer support can take quite some time to respond via email. Many reviewers of the service report being unable to receive more than canned responses and apologies for continued wait times. Fortunately, a support page with detailed answers to the most basic questions is available.
How to reach Binance.US customer support
- Contact form
- Discord
- Live chat
- Support ticket
- Telegram
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
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Binance.US Cryptocurrency Exchange is not currently available on Finder
Have you considered eToro USA LLC Cryptocurrency Trading?
Get $15 when you sign up and buy $100 of crypto. T&Cs apply.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
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