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Binance.US cryptocurrency exchange review

Andrew Munro
Andrew Munro
Last updated:  

Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange.

  • 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.

1

Fiat currencies

49

Cryptocurrencies

Details

Product Name Binance.US Cryptocurrency Exchange
Fiat Currencies USD
Cryptocurrencies BTC, DAI, MKR, ADA, XLM, XRP, ZIL, LTC, NEO, EOS & 30+ more
Deposit Methods Bank transfer (ACH)
Bank transfer
Cryptocurrency
Debit card
Wire transfer
Trading Fee 0.1%
Deposit Fees None. Network fees apply for crypto deposits
Withdrawal Fees Crypto: Network fees apply
Wire: $15

Pros

  • USD available. Binance.US offers another fiat gateway for the United States.
  • Flat 0.1% trading fees. This is a very competitive rate for the type of service being offered.

Cons

  • Variety. There is a limited range of coins available.
  • Limited features. Binance.US is primarily a fiat-crypto gateway. Although it offers BTC and USDT markets, it does not offer any advanced features or trade types.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What's in this guide?

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD
  • Supported cryptocurrencies: Approximately 49 cryptocurrencies

Which payments methods are accepted?

  • Bank transfer (ACH)
  • Bank transfer
  • Cryptocurrency
  • Debit card
  • Wire transfer

Who can use Binance.US?

Binance.US is for US residents only, including Puerto Rico, and is available in most states.

But Binance.US is not available to residents of:

  • Alabama
  • Connecticut
  • Florida
  • Hawaii
  • Idaho
  • Louisiana

  • New York
  • North Carolina
  • Texas
  • Georgia
  • Vermont
  • Washington

Fees and limits

The fees below are accurate as of 25 September 2019.

TypeFee
Trading fees0.1%
ACH deposit/withdrawal feesNone
Wire deposit/withdrawal fees$0 deposit fee, $15 withdrawal fee
Cryptocurrency deposit/withdrawal feesNetwork fees apply

How fast will my funds be available?

Deposits

Clock icon for transfer speed

0-3 days

Cryptocurrency deposits will take a few minutes, wire transfers may be available same day and ACH transfers can take two to three days.

Withdrawals

Clock icon for transfer speed

0-3 days

Withdrawal times will vary by method. Cryptocurrency withdrawals are fast, wire transfers can be same day and ACH transfers may take a few days.

Is Binance.US safe to use?

  • Regulation. Binance.US is operated by BAM Trading Services, which is licensing the Binance trading engine. Binance.US operates in compliance with its US regulatory obligations.
  • Verification process. Verification is required for trading, and there are different verification tiers available.
  • Security features. Binance.US follows industry best practices when securing customer digital assets. User funds are held by a third-party trust company based in Nevada.

Binance verification tiers

There are multiple verification tiers. The process depends on which verification type you want to complete.

  • Basic verification is for crypto (USDT) trading only and has a $5,000 USD equivalent daily withdrawal limit. There are no documents required and you’ll just need to enter a few personal details.
  • Advanced verification is for crypto (USDT) trading only and has a $1 million USD equivalent daily withdrawal limit. Just complete basic verification and then upload your identification documents.
  • Fiat verification is for USD deposits and withdrawals. You’ll need to fill out a form online and submit it for checking.

Compare alternatives to Binance.US

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Cryptocurrencies

ATOM, BAT, BTC, BCH, XRP, DAI, DASH, EOS, ETH, ETC & 30+ more

Deposit method

Bank transfer (ACH), Credit card, Debit card, Bank transfer (SEPA), Wire transfer

Trading fee

Fees vary

Withdraw fees

Instant Card Withdrawal: Up to 1.5% of the transaction plus a minimum of $0.55
Outgoing Wire Transfer: $25
Fees vary by location and payment method.

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Cryptocurrencies

BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM & 5+ more

Deposit method

Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill

Trading fee

Fees vary. Overnight and weekend fees apply

Withdraw fees

US$5 (minimum withdrawal of US$50)

How do I create an account at Binance.US?

To get started with your Binance.US account:

  1. Register. Enter your email and choose a password on the Registration screen.
  2. Get verified. You need to be verified to trade on Binance.US. This means providing information about yourself and may include presenting ID documents.
  3. Make a deposit. To start trading, deposit cryptocurrency or US dollars. You can make deposits from your bank account via ACH or wire transfers.
  4. Trade. Once your funds have arrived, you can trade between US dollars and cryptocurrency with a flat 0.1% fee.

What else do I need to know about Binance.US?

Binance.US was created after the main Binance exchange blocked US users.

It is headed by a former Ripple executive, and the company operating it is a significant figure in the cryptocurrency industry. However, Binance.US is a separate entity to Binance, so benefits such as the Binance SAFU fund may not be available there.

In a nutshell

Pros

  • USD available. Binance.US offers another fiat gateway for the United States.
  • Flat 0.1% trading fees. This is a very competitive rate for the type of service being offered.

Cons

  • Variety. There is a limited range of coins available.
  • Limited features. Binance.US is primarily a fiat-crypto gateway. Although it offers BTC and USDT markets, it does not offer any advanced features or trade types.

Ready to sign up?

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Compare Binance.US against other exchanges

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Gemini Cryptocurrency Exchange
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USD, AUD, CAD, EUR, GBP, SGD, HKD

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cryptocurrencies

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Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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