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Binance vs Binance US: Which Crypto Trading Platform Should You Be Using?

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July 27, 2021
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    The evolution of cryptocurrency in recent years has paved various roads for crypto traders. From centralized, such as Kraken, Binance, and Coinbase, and decentralized exchanges, like Uniswap, to brokerages such as Robinhood- the list is endless. In this unending list of crypto exchanges, Binance is the most famous name in terms of centralized exchanges. Even though Binance became a part of the crypto world in 2017, it has reached unforeseen heights in just a few years.

    But due to the increase in regulatory compliance, they had to restrict access for the traders in the United States. Following this, Binance.US launched in 2019 and though slow, it has been on the growth curve since then and is the largest cryptocurrency exchange in the United States.

    The separation of Binance.com and Binance.US raised many questions in the heads of crypto traders and enthusiasts, and in this article on Binance US vs Binance, we aim to answer all those questions!

    Binance

    Binance, founded by Changpeng Zhao in 2017, has been gaining popularity for its crypto to crypto exchanges. Though it initially started in China, it later shifted its headquarters to Malta in the EU. When Binance raised about $15 million in July 2017, it instantly earned 20,000 registered users.

    Since its inception in the crypto space in 2017,  Binance has been going up to become the world’s largest cryptocurrency exchange by trading volume. At present, Binance is offering its users 500+ cryptocurrencies and more than 12,000 trading pairs.

    Pros Of Binance

    • User-friendly trading interface
    • Low trading fees
    • Good customer support
    • Deposits via ACH and debit card
    • 50+ cryptocurrencies

    Cons of Binance

    • Security measures aren't transparent
    • No phone support
    • Fewer options for U.S. residents

    Binance US

    Despite its name and fame, Binance faced issues with its regulators. In 2019, Binance US, the U.S.-based wing of Binance came into existence. According to a study by CoinMarketCap, Binance US is among the top 10 cryptocurrency exchanges in the world, by trading volume.

    Even though Binance lacks many features compared to its parent company, it is still best known for peer-to-peer trading and crypto-to-crypto trading. Additionally, its 0.1% trading fee is lower than many other U.S.  cryptocurrency exchanges.

    Pros Of Binance US

    • User-friendly trading interface
    • Low fees
    • 50+ cryptocurrencies
    • Good customer support

    Cons of Binance US

    • Not available in seven U.S. states (Alabama, Florida, Connecticut, Hawaii, Idaho, Louisiana, New York,  Texas, Georgia, Vermont, North Carolina, Washington)
    • Fewer crypto-to-crypto currency

    Binance vs Binance US: Comparison

    Both Binance and Binance.US are among the best crypto exchanges in the world. Even though the former is considered a parent company of Binance, there are a few differences. These differences make the two exchanges unique in their own way. The security protocols of both Binance and Binance US are similar and so is their customer support. But they have different trading fees, deposit and withdrawal methods, and liquidity.

    Let's compare the features of both Binance and Binance US.

    Binance vs Binance US: Fee Structure

    Binance’s standard trading fee is 0.10%, which is cheaper than that of Coinbase. But if using BNB- their native token- you can pay about 25% less. In the case of credit card purchases, you'll have to pay 3.5% or US$10, whichever is higher.

    The trading fees of Binance US begin at 0.1% but can go as low as 0%. It also offers the same discount, and referral bonuses just like its parent company. Apart from the low fees and discounts, the trading fees of BNB holders of both Binance and Binance US will get automatically deducted and they'll get an additional 25% discount.

    Binance vs Binance US: Supported Currencies

    Binance has a good listing of 50+ cryptocurrencies and over 1,200 trading pairs available for its users. If having access to the most possible coins is a priority for your crypto trading strategy should strongly consider Binance. Binance US on the other hand has 53 cryptocurrencies (including stablecoins) available for trading.

    Binance vs Binance US: Security

    Both Binance and Binance US have the same security protocols. Binance has been examined across 14 categories, including security policy, asset management, operational security, and information systems. It is also awarded an information security accreditation for meeting the ISO (International Organization for Standardization) standards.

    Binance vs Binance US: Customer Support

    The customer service in the Binance platform is outstanding. It provides customer service in 7 different languages. Having said this, Binance has no phone support yet. It relies on a live chat support option and an FAQ section. Similarly, Binance US supports an email ticket support system and active social media channels where you can get answers.

    Binance vs Binance US: Margin Trading

    One of the latest features of the Binance platform is margin trading. You can transfer your BNB coins from your crypto exchange wallet to your margin trading wallet. These coins can now be used as collateral to borrow more funds. The number of funds that you can borrow will depend on your margin wallet and follows a fixed rate of  5:1.

    Binance US does not have the margin trading interface and option as of yet.

    Binance vs Binance US: Liquidity

    The more liquid an asset is, the easier it will be to trade it without causing a major price change. Binance has evolved into the world's largest cryptocurrency exchange by trading volume. But it doesn't allow US dollars deposits and trading. So, most of the volume on the exchange occurs against stable coin pairs such as BTC-USDT, BTC-USDC, and BTC-BUSD (Binance USD (BUSD) is a USD-denominated stable coin). Binance's volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken.

    Final Verdict- Binance US Vs Binance?

    Both Binance and Binance.US are the two of the most popular cryptocurrency exchanges in the world. International users acknowledge the vast list of cryptocurrencies available with Binance but U.S. residents will be deprived. Binance US is a clear winner when it comes to regulatory compliance and licensing. When it comes to trading features, Binance.US focuses on spot trading whereas Binance offers lending and margin trading.

    Thus, it can be concluded that your choice of crypto exchange should depend entirely on your trading strategy, your trading goals, and your location as well.

    Binance vs Binance US FAQs

    1. What is the difference between Binance US Vs Binance?

    Both Binance and Binance.US are among the best crypto exchanges in the world. Even though the former is considered a parent company of Binance, there are a few differences. These differences make the two exchanges unique in their own way. The security protocols of both Binance and Binance US are similar and so is their customer support. But they have different trading fees, deposit and withdrawal methods, and liquidity.

    2. Can US residents still use Binance?

    No, US residents cannot use Binance. Instead, they can use Binance.US which is accessible to US residents (not available in 7 states).

    3. Which has better security Binance or Binance US?

    Both Binance and Binance US have the same security protocols. Binance has been examined across 14 categories, including security policy, asset management, operational security, and information systems. It is also awarded an information security accreditation for meeting the ISO (International Organization for Standardization) standards.

    4. How many currencies does Binance support?

    Binance has a good listing of 50+ cryptocurrencies and over 1,200 trading pairs available for its users. If having access to the most possible coins is a priority for your crypto trading strategy should strongly consider Binance. Binance US on the other hand has 53 cryptocurrencies (including stablecoins) available for trading.


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