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Last updated
Last updated
While no crypto exchange is perfect, Binance.US offers a rich blend of useful charts and an intuitive user interface. Best of all, Binance.US charges rock-bottom fees for spot trading and very competitive “instant buy” fees. Just be aware that this platform is not available to all U.S. residents.
Low fees, especially compared with its main rivals
Wide variety of cryptocurrencies supported
Easy-to-navigate trading platforms for users with any level of crypto experience
Allows staking
Not available to all U.S. residents
Parent company was subject to a major hack in 2019
Binance is one of the world’s most widely used crypto exchanges—and for good reason. Its rock-bottom fees and extensive array of cryptos make it appealing to traders of all stripes.
Binance.US is available to many, albeit not all, U.S. residents. It’s important to note that this crypto exchange is not available to residents of Hawaii, New York, Texas and Vermont.
Despite these limitations, Binance.US remains one of the top 10 crypto exchanges in the world, according to crypto industry ranker CoinMarketCap.com.
Binance.US offers more than 130 cryptos. Although this isn’t as many cryptocurrencies as parent company Binance offers international users, it should cover most cryptos an individual may be looking to trade.
Binance.US also allows staking of 19 different cryptos, including Ethereum, Cardano (ADA), Polkadot (DOT), Polygon (MATIC), Solana (SOL) and The Graph (GRT), advertising yields as great as 12.5% annual percentage yield (APY).
Staking is the ability to earn passive income on cryptocurrencies by using them as collateral to help facilitate building the coin’s blockchain.
Binance.US is ranked among the top exchanges for staking in Forbes Advisor’s best staking platforms.
In addition, Binance.US carries high-security rankings as well as ultra-low fees. In fact, some Bitcoin (BTC) pairs can be traded at no fee whatsoever. For users based within the company’s jurisdictions, this easy-to-use platform offers an excellent option among the world’s many crypto exchanges.
The U.S. edition of Binance offers fewer cryptos than its parent company supports in other geographical locales, and its educational resources are not as impressive.
Regardless of what platform you use, remember that buying cryptocurrencies generally comes with a big buyer beware. Crypto is highly speculative and subject to volatility on the slightest bit of news.
If you’re interested in investing in crypto, Binance.US’s platform should offer most, if not all, of what you’re looking for.
Binance.US split from its parent company Binance in 2019.
One of the reasons for the split had to do with the parent company facing an investigation by the U.S. Commodity Futures Trading Commission (CFTC) for a host of potential violations.
By 2021, Binance completed its rerouting of U.S.-based users to Binance.US
Binance.US offers a tiered trading system to their customers.
Tier 0 trades have zero fees. But this is limited to just four types of Bitcoin pairs: BTC/USD, BTC/USDC, BTC/USDT and BTC/BUSD. All other trades fall under Tier I or Tier II.
Tier I trades start with a 0.2% taker and 0.1% maker fee for trades less than $10,000 on certain asset pairs within a 30-day period. A few examples of asset pairs under Tier I include ETH/USD and SOL/USD, to name a couple.
Tier II trades are a bit steeper and start at a 0.6% taker and 0.4% maker fee for trading less than $10,000 in a 30-day period on select Tier II asset pairs. ADA/USD and DOT/USD are a few Tier II pair examples.
Customers will want to check Binance.US’s fee structure to see the exact fees for the crypto pairs they want to trade.
Keep in mind that those using Binance Coin (BNB) receive a 25% reduction in trading fees. VIPs receive discounts on maker/taker fees.
| 30d Trade Volume (USD) | Tier 0 | Tier I | Tier II | |||
|---|---|---|---|---|---|---|
Maker | Taker | Maker | Taker | Maker | Taker | |
<$10K | Free | Free | 0.0750% | 0.1500% | 0.3000% | 0.4500% |
$10K - $50K | Free | Free | 0.0750% | 0.1500% | 0.1875% | 0.3000% |
$50K - $100K | Free | Free | 0.0750% | 0.1500% | 0.1125% | 0.1875% |
$100K - $1M | Free | Free | 0.0450% | 0.1350% | 0.0750% | 0.1500% |
$1M - $20M | Free | Free | 0.0225% | 0.0675% | 0.0600% | 0.1350% |
$20M - $100M | Free | Free | Free | 0.0375% | 0.0375% | 0.1125% |
$100M - $300M | Free | Free | Free | 0.0375% | 0.0150% | 0.0750% |
$300M - $500M | Free | Free | Free | 0.0375% | Free | 0.0600% |
≥$500M | Free | Free | Free | 0.0375% | Free | 0.0375% |
Another thing to keep in mind is that although Binance.US doesn’t charge deposit fees, there are variable withdrawal fees for each coin. These withdrawal fees can range from a fraction of a cent for cryptos like BTC or around $27 for AUDIO.
While Binance.US hasn’t engendered much controversy, the same can’t be said of its parent company Binance Holdings, the world’s largest cryptocurrency exchange. Binance has come into the crosshairs of a number of U.S. regulatory commissions, not the least of which is the CFTC.
Most worrying, however, to crypto traders might be a 2019 hack that saw criminals steal more than $40 million in BTC off Binance. Binance.US wasn’t even in existence at the time. It should also be stressed that the hack occurred to the parent company, not Binance.US.
Also, in October 2022, parent company Binance suffered another major hack that cost the platform more than $570 million in BNB. Binance and Binance.US were separate entities by this point, and the Binance.US site wasn’t affected.
Binance.US rates highly on the security of its exchange. For instance, crypto exchange security review site CER ranked Binance.US as one of the most secure exchanges as of October 2022, ahead of big names like Coinbase and Gemini.
Like other popular exchanges, Binance.US makes it easy to buy and sell cryptocurrency. There are two main ways to do this: basic verification and advanced verification.
For basic verification, Binance.US allows traders to make U.S. dollar deposits and withdrawals via bank transfers and debit cards. Traders can also deposit and withdraw cryptocurrency, buy, sell and convert cryptocurrencies, and become eligible for Advanced Trading Feature.
To sign up for Basic Verification, traders need to provide:
Full legal name and date of birth
Social security number
Current address (not a P.O. Box)
More experienced investors, though, will gravitate toward Binance.US’s Advanced Verification. Advanced users can do everything Basic users can. However, they can also make wire deposits and withdrawals, and they have increased limits for bank transfers and credit cards. They can also do staking, OTC trading and API trading.
Traders seeking advanced verification will also need to provide:
State-issued ID
Facial verification using Binance.US’s own automated selfie photo process
Binance.US doesn’t offer the full 350+ cryptocurrencies traded on parent-company Binance’s platform. However, with more than 130 cryptocurrencies supported, most traders will find what they’re looking for on Binance.US.
Here is a list of some of the major cryptocurrencies traded on Binance.US:
| Coin | Available on Binance.US |
|---|---|
Bitcoin (BTC) | ✔ |
Ethereum (ETH) | ✔ |
XRP (XRP) | X |
Cardano (ADA) | ✔ |
Solana (SOL) | ✔ |
Dogecoin (DOGE) | ✔ |
Polkadot (DOT) | ✔ |
Polygon (MATIC) | ✔ |
TRON (TRX) | ✔ |
For a full list of the cryptocurrencies available on Binance.US, see the company’s Markets page.
| Binance.US At A Glance | |
|---|---|
Trading | |
Advanced Trading Features | |
Crypto Wallet | ✔ |
Staking | ✔ |
Lending | X |
Margin Trading | X |
Binance.US is available to most residents of the United States. However, the platform is still restricted to residents in New York, Hawaii, Texas and Vermont. To truly serve U.S.-based residents to the best of its abilities, Binance.US would ideally be available in all 50 states.
The reason Binance.US isn’t currently available across the entire U.S. is due to regulatory requirements that Binance.US is either unable or unwilling to meet within the listed jurisdictions.
However, another problem Binance.US might face as more and more cryptocurrency regulations are filed on the state and national levels. On their website, Binance.US says that if a new jurisdiction becomes restricted, they will notify users in that jurisdiction regarding their access to the site by email, on the website or by some other means.
Binance.US doesn’t offer phone support for any of its users. Without phone support, Binance.US users can only get answers to their questions through the company’s ticket system or email.
This isn’t a problem for most questions a user may have. However, if the user needs immediate help or has an extremely intricate question, this may not be ideal.
Of course, not all of Binance.US’s competitors offer phone support either. So this may not be seen as a drawback for more experienced crypto traders.
Many of the world’s largest crypto exchanges offer credit cards or debit cards. Binance.US does not.
In most instances, this doesn’t have any negative effect on a user’s account. However, many of the cards offered by competing exchanges allow customers to use the value of their crypto as collateral for credit or debit purchases.
This opportunity gives the user’s crypto immediate value. It also allows the user to receive additional crypto rewards for their purchases, which is a nice perk and a great way to add wealth to an existing account.
Fees (Maker/Taker)
0.1%/0.1%
Cryptocurrencies Available for Trade
50+
1
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Welcome Offer:
Deposit $100 and get a $10 bonus! (US Only)
Cryptocurrencies Available for Trade
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Fees (Maker/Taker)
0.40%/0.40%
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To determine crypto exchange rankings, we assessed the features and options offered by nearly 25 exchanges, trading apps and brokerage platforms that offer crypto trading options.
To rank the best crypto exchanges overall and the best exchanges for beginners, we assessed all of the features and options offered by these 25 platforms. The editorial team then developed a standardized methodology, analyzing 10 key benchmark features and variables to assess quality across the platforms.
Basic trading features count as one factor in the overall and beginner rankings. Other ranking factors include platform availability, customer service, educational resources, security and storage, staking and rewards, to name a few.
The sum of weighted values across all or some of these key factors was calculated for each ranking to award each brokerage or exchange its overall rank. Margin trading, platform lending, and advanced trading were not considered for choosing the best crypto exchanges for beginners.
