GOBankingRates Score: 4.6/5
Binance.US serves as a transitional platform for U.S. crypto traders migrating from Binance or beginners entering the market. While it offers competitive fees and a diverse selection of cryptocurrencies, its limited state coverage and reduced asset options compared to Binance Global may prompt users to explore alternatives.
Key Advantages
- Binance Ecosystem Continuity: U.S. users retain access to a Binance-like interface post-2020 migration.
- Crypto-to-Crypto Trading: Directly trade digital assets without converting to fiat currency.
- Low Trading Fees: Flat 0.1% fee (discounted to 0.075% with Binance Coin/BNB).
- 150+ Cryptocurrencies: Broad selection for U.S.-based traders.
Limitations
- Geographic Restrictions: Unavailable in 7 U.S. states (CT, HI, ID, LA, NY, TX, VT).
- Fewer Assets vs. Binance Global: ~150 cryptocurrencies vs. 350+ on the international platform.
Binance.US Features Breakdown
1. Fee Structure
- Standard Fee: 0.1% per trade.
- BNB Discount: 25% reduction for trades funded with Binance Coin.
👉 Compare Binance.US fees with other exchanges
2. Cryptocurrency Offerings
- Supports major coins (BTC, ETH, BNB) and altcoins.
- Crypto/fiat pairs include USD Coin (USDC), Tether (USDT), Binance USD (BUSD), and DAI.
3. U.S. Accessibility
- Operates under U.S. regulations, led by CEO Catherine Coley.
- Institutional Tools: OTC portal, API integrations (WAPI/REST/WebSocket), and block trading for large orders.
4. User Experience
- Intuitive mobile app and web platform for quick conversions.
- Simplified purchase forms for beginners; advanced tools for professionals.
Binance.US vs. Competitors
| Feature | Binance.US | Coinbase | Kraken |
|---|---|---|---|
| Cryptos Listed | 150+ | 350+ | 200+ |
| Trading Fee | 0.1% (0.075% w/BNB) | 0.6% (Advanced) | 0.26% (Standard) |
| OTC Trading | Yes ($10k+ minimum) | Limited | Yes |
How to Sign Up for Binance.US
Eligibility:
- U.S. resident (excluding restricted states).
- Age 18+.
- Valid ID, SSN, and proof of address required.
Steps:
- Visit Binance.US.
- Complete identity verification (KYC).
- Fund your account via bank transfer or crypto deposit.
Ideal Users
- Crypto Enthusiasts: Prefer direct crypto-to-crypto trades.
- Cost-Conscious Traders: Benefit from low fees and BNB discounts.
- Institutions: Leverage OTC portals and API tools.
FAQs
Is Binance legal in the U.S.?
No—the global Binance platform banned U.S. users in 2020. Binance.US is the compliant alternative.
Does Binance.US report to the IRS?
Yes. It adheres to U.S. tax regulations for transactions exceeding $600.
Can I use a VPN to access Binance Global?
Risky. Accounts may be frozen, and U.S. investors lack legal protections.
Where can I buy Binance Coin (BNB) in the U.S.?
Exclusively on Binance.US or other IRS-compliant exchanges.
Final Verdict
Binance.US excels with low fees and diverse crypto options but falls short in nationwide accessibility. For traders prioritizing cost-efficiency and crypto pairs, it’s a top pick—though alternatives like Coinbase or Kraken may suit those needing broader asset selection.