Binance Trade Volume And Market Listings
If you’re new to the world of cryptocurrency trading, you may have heard of Binance, the largest centralized exchange in the world by trading volume. But did you know that there is also Binance.US? In this article, we will take a closer look at Binance.US and what it has to offer.
What Is Binance.US?
Binance.US is the U.S. registered arm of Binance, created specifically to comply with U.S. regulations. While Binance owns the name and intellectual property of Binance.US, the exchange is managed independently by BAM Trading Services. This separate exchange offers unique features such as different deposit and withdrawal methods, liquidity, and trading fees compared to its global counterpart.
Unlike the main exchange, Binance.US offers users a selection of over 120 cryptocurrencies and more than 60 trading pairs. While this may be fewer than what the global site offers, it still provides ample opportunities for traders. However, it’s important to note that Binance.US is not available in all 50 states of America.
Who Are the Binance.US Founders?
Binance.US was launched in September 2019 and is managed by BAM Trading Services. The CEO of the company is Brian Shroder, a former executive director of Ant Group Co. and Uber Technologies Inc. With his extensive experience in the field, Shroder brings a wealth of knowledge to the exchange. He holds an MBA from Harvard Business School and dual BS degrees in Accountancy and Management from Miami University.
Where Is Binance.US Located?
Binance.US is based in Palo Alto, California. Being located in the heart of Silicon Valley gives the exchange access to a thriving tech ecosystem and enables it to provide exceptional services to its users.
Binance.US Restricted Countries
While Binance.US aims to provide access to cryptocurrency trading for users in the United States, there are some limitations. The exchange is not available in Hawaii, Texas, New York, and Vermont. If you reside in any of these states, you may need to explore alternative options for cryptocurrency trading.
What Coins Are Supported on Binance.US?
Binance.US offers a wide range of cryptocurrencies for trading. With access to over 120 digital assets and more than 60 trading pairs, users have the opportunity to diversify their portfolios. Popular coins such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Bitcoin Cash (BCH), Binance Coin (BNB), Chainlink (LINK), Litecoin (LTC), and many more are supported on the platform.
How Much Are Binance.US Fees?
One of the advantages of trading on Binance.US is the fee structure. The exchange offers free Bitcoin trading, making it the only major exchange in the U.S. to do so. The trading pairs are categorized into three tiers: “Tier 0,” “Tier I,” and “Tier II.” For “Tier 0” pairs, the fees are 0%.
The fees for “Tier I” and “Tier II” pairs depend on the user’s VIP level, which is determined by their 30-day trading volume. Maker fees range from 0.0750% (VIP 1) to free (VIP 9), while taker fees range from 0.1500% (VIP 1) to 0.0375% (VIP 9). For “Tier II,” maker fees range from 0.3000% (VIP 1) to free (VIP 9), and taker fees range from 0.4500% (VIP 1) to 0.0375% (VIP 9).
Additionally, users can enjoy a 25% discount on fees if they use Binance Coin (BNB) to pay.
Is It Possible To Use Leverage or Margin Trading on Binance.US?
If you’re considering leverage or margin trading, it’s important to note that Binance.US does not currently offer these options. However, the exchange provides a secure and reliable platform for spot trading, allowing users to buy and sell cryptocurrencies at the current market price.
In conclusion, Binance.US is an essential platform for cryptocurrency traders in the United States. With its wide range of supported coins, competitive fees, and commitment to regulatory compliance, it offers a secure and user-friendly environment for both beginners and experienced traders alike. If you’re looking to enter the world of cryptocurrency trading, Binance.US is definitely worth considering.
Disclaimer: The information provided in this article is for informational purposes only. It should not be considered as financial advice or a recommendation to invest in any specific cryptocurrency or trading platform. Always do your own research and consult with a professional financial advisor before making any investment decisions.