Binance, the world’s largest cryptocurrency exchange by trading volume was founded in 2017 in China. Even though the exchange was global, it stopped accepting US customers in 2019. Later the same year, the exchange partnered with BAM Trading Services and launched Binance.US as a part of its move into the US market.
How to Transfer from Binance to Binance.US?
The first thing you’ll need to do to transfer from Binance to BInance.US is open an account on Binance.US. Below are the steps:
- Go to www.binance.us/en/home and click “Get Started”
- Provide your email address, choose a password, agree to the Terms of Service and click “Create Account”
- Verify your email address by entering the 6-digit code sent to you in your inbox
- You can secure your account with 2-Factor-Authentication in the next step or you can click on “Skip for Now”
- Your account is created but to trade, you’ll need to finish the KYC process
- Complete the basic verification datasheet and click “Submit”
- After your KYC process is successful, you’ll be able to use your Binance.US account and access your dashboard
Transfer Funds from Binance to Binance US
After you’ve successfully opened an account on Binance.US, now it's time to transfer your funds from Binance to Binance.US. Here’s how you do this:
- Sign in to your Binance account
- Go to Wallets
- Choose Withdraw
- Copy your Binance.US wallet deposit address and paste it on Binance for withdrawal
- Finish withdrawal
- Repeat this process for every token you have on Binance
After following these steps you’ll be able to transfer from Binance to Binance.US and you can continue to use Binance.US to trade seamlessly.
Benefits of Using Binance.Us
- Low fees: The exchange has low fees compared to other exchanges. The maker/taker fees range from 0 to 0.1 percent and instant buy/sell fees are 0.50 percent.
- Educational content available: Investors eager to learn about blockchain and crypto can access Binance Academy and watch education videos and read articles on these topics.
- Discounts on trading fees: Traders/investors who are holding Binance Coin (BNB) are eligible for a 25 percent trading fee discount
Tokens Available on Binance.US
Investors can trade over 80 crypto tokens on the Binance.US platform, such as:
Apart from the tokens, Binance.US offers a host of trading pairs, including the option to trade two crypto tokens cashing out one for USD.
Who Is Binance.US Best For?
One thing to keep in mind before you start using Binance.Us is that it is not available in a few states such as Connecticut, Idaho, Hawaii, Louisiana, Texas, New York, and Vermont. People outside these states can use the platform for its easy buy/sell user interface and advanced trading views. It charges low fees and offers further fee discounts if you use Binance Coin (BNB), its native token. And as mentioned earlier, eager investors can learn to watch educational videos and read articles on investing in crypto.
The platform doesn’t provide any information about securing, storing, or protecting the user's funds, unlike other exchanges. As a crypto exchange, transparency about the safety of its user's investments and funds is imperative.
Binance.US is perfect for experienced and high-volume traders due to its low fees and advanced trading views. Even less experienced traders might also appreciate the educational resources. However, the platform has fewer crypto tokens in its selection compared to other exchanges and it doesn’t offer futures or margin trading.