Binance US Review: What You NEED to Know!
The company is registered BAM trading services in the state of Delaware although it is operating out of San Francisco. It is run by Catherine Coley who is an ex Ripple executive.
There are a number of states and jurisdictions where you cannot trade on Binance US. These include the likes of New York, Texas, Florida, Alabama etc.
There is a limited selection of coins currently available to trade on Binance US. You only have Bitcoin, Bitcoin Cash, Ripple, Cardano, Ethereum, Litecoin and Stellar.
So, Binance US is positioned between the likes of Coinbase Pro and Gemini.
Binance US is not regulated as a financial institution and as such does not offer FDIC insurance on their US dollar deposits.
In terms of coin storage, they are likely to have the same safety procedures in place that you have on the main binance exchange. (cold wallets, multisig, tiered access etc).
There are also a number of security enhancing features that you have on your dashboard. These include the likes of anti-phishing protections as well as address white listing and 2FA.
There are no anonymous accounts at Binance US and you will have to provide your SSN for at least the most basic tier. This will allow you a maximum of $5,000 a day for withdrawals.
Trading fees at Binance US are flat and at 0.1%. These are lower than the direct competition so this could make them attractive. You also have limited fiat withdrawal fees if you are using ACH.
When it comes to deposit & withdrawals, Crypto payments are pretty simple. Fiat funding will require you to get your bank account approved with a fiat verification. ACH withdrawal has a $1,000 limit.
Binance US has all the same trading technology of Binance.com including their basic and advanced trading platform. These are well known to the crypto community.
The basic exchange which has a relatively simple layout and is pretty intuitive to navigate.
The advanced expands the interface and gives you a whole host of other options for adjusting the layout. You also have an extensive range of charting technology.
There are no mobile apps or other trading programs but they do have an API that you can use to develop your own bots.
► Warning!! ️Always Do Your Own Research when trading cryptocurrencies. They are very risky and you should practice prudent risk management.
► Disclaimer The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.