Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.
Binance: Overall Rating
| Feature | Insider rating (out of 5) |
| Fees | 4.75 |
| Investment selection | 4.50 |
| Access | 3.25 |
| Ethics | 4.50 |
| Customer service | 3.75 |
| Overall score | 4.15 |
Is Binance.US Right for You?
Formed in 2019 by Binance and BAM Trading Services, Inc., Binance is an online cryptocurrency marketplace offering trading digital coins and tokens. The investment platform currently supports bitcoin, dogecoin, ethereum, and more than 150 other popular cryptocurrencies.
Similar to some of the best cryptocurrency exchanges out there, it is a secure investing platform with an accessible and secure platform, low fees, and market access. It offers crypto trading pairs (virtual assets that traders can exchange for each other), spot trading, staking rewards, secure storage, over-the-counter (OTC) trading, and more.
But there are some notable limitations. You currently can't use Binance.US if you're a resident of Hawaii, Texas, New York, or Vermont. In 2022, the platform was launched in Louisiana, American Samoa, and Guam.
In addition, unlike exchanges like Kraken, Binance.US doesn't offer margin accounts or futures trading. It also offers fewer types of crypto than its parent platform, Binance, which it officially split from in 2019.
If you don't think Binance.US is right for you — or the platform isn't available in your area — you can check out Insider's list of the best investment apps for a Binance.US alternative.
Binance.US vs. Webull
Binance.US and
If you're solely set on trading crypto, Binance.US is your best option as it offers a much larger range of crypto assets (150+ cryptocurrencies) and a $10 investment minimum. Webull only offers 40+ cryptocurrencies. But if you're looking to invest in other assets — such as stocks, ETFs, options, and ADRs — Webull is a better fit. It's also cheaper with no account minimum and commission-free options, stocks, and ETFs.
Binance.US is still competitive, with traders only paying between 0%$ to 0.1% maker/taker fee and 0% fee bitcoin trading on eligible pairs.
Binance.US vs. Kraken
Like Binance.US and Webull,
But Kraken has the most range with more than 220 supported cryptocurrencies and is therefore the better option for investors looking to trade crypto. It may also be a better option for more advanced traders as the Kraken Pro version offers lower fees (regular Kraken charges a 1.5% fee for most cryptos and a 0.5% processing fee, whereas the Pro version charges up to 0.26%.
If you're not an advanced investor, however, Binance.US is still a good option for crypto trading and has overall lower fees.
Ways to Invest With Binance.US
Fees and Rewards
Binance's staking features allow you to earn rewards for holding crypto assets for a set period of time. For instance, if you were to hold a minimum of 20 QTUM, you'd earn an annual reward ranging from 1-2%.
When it comes to management fees, you can place a regular trade and incur a 0.1% spot fee, or you can have your order executed immediately by paying 0.5% for an instant buy/sell transaction.
The method you choose for funding your account also affects how much you'll pay for securities. While ACH transfers and wires have a $0 deposit fee, you'd have to pay an extra 4.5% if you used a debit card.
Cryptocurrency Trading Pairs
For instance, both the Ethereum/Bitcoin and Litecoin/Bitcoin trading pairs are available on Binance.US (see a complete list of eligible trading pairs here).
Institutional Clients
The crypto exchange offers a variety of services for institutions. These offerings — which mainly apply to market makers, proprietary traders, algorithmic traders, hedge funds, family offices, and high-net-worth clients — include an OTC trading portal, institutional monthly staking rewards, and 24/7 customer support.
Institutional clients can also utilize a Websocket feed that provides real-time market data, and the exchange's trading API lets you take advantage of programmatic trading bots, according to Binance.US.
Binance.US also says it offers storage for crypto and USD assets. In fact, the exchange has received a 98.20% security score from the CER crypto exchanges ranking platform.
The
Binance.US: Is it Trustworthy?
The Better Business Bureau has given Binance a B rating. The BBB grade ratings usually range from A+ to F, and the bureau says it also considers a number of other factors when evaluating companies.
These include time in business, type of business, complaint history with BBB, licensing and government actions, advertising issues, and business practices. But be sure to conduct your own research as well, since the BBB says its ratings don't guarantee a company's reliability or performance.
Binance.US has closed 122 complaints in the last 12 months, according to BBB data.
There have been no public lawsuits filed against the business.
Binance.US — Frequently Asked Questions (FAQ)
Is Binance.US the same as Binance?
Binance.US is the US division of the global crypto exchange Binance. Binance and BAM Trading Services, Inc. formed the US version in 2019. The platform doesn't offer as many assets as Binance (which currently offers more than 360 cryptocurrencies and virtual tokens), but it gives US customers access to more than 150 cryptocurrencies.
Is Binance.US safe?
Yes. Binance.US is licensed in several US jurisdictions as a legitimate business, and the crypto exchange offers multiple security features, including two-factor authentication.
Should you use Binance.US?
This depends on what you're searching for in a crypto exchange. A great way to narrow down your decision is by thoroughly assessing the platform's fees, features, and available cryptocurrencies.