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How to Transfer funds from Binance to Binance.US

Transfer Your Funds from Binance to Binance.US with this Step-by-Step Guide

If you are a US-based trader looking to find a way to transfer from Binance to Binance.US? Follow this step-by-step guide to finish your transfer.

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. 

So, if you are a US-based user and trying to find a way to transfer from Binance to Binance.US, we have a step-by-step guide on this process. Let’s get started. 

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:

  1. Go to www.binance.us/en/home and click “Get Started”
  2. Provide your email address, choose a password, agree to the Terms of Service and click “Create Account”
  3. Verify your email address by entering the 6-digit code sent to you in your inbox
  4. You can secure your account with 2-Factor-Authentication in the next step or you can click on “Skip for Now”
  5. Your account is created but to trade, you’ll need to finish the KYC process
  6. Complete the basic verification datasheet and click “Submit”
  7. After your KYC process is successful, you’ll be able to use your Binance.US account and access your dashboard

Binance to Binance USD Transfer

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:

  1. Sign in to your Binance account 
  2. Go to Wallets
  3. Choose Withdraw
  4. Copy your Binance.US wallet deposit address and paste it on Binance for withdrawal
  5. Finish withdrawal
  6. 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. 

Do you pay taxes on transactions made on Binance? Cryptocurrencies are often taxed on income and capital gains. 

Income tax: You must declare bitcoin earnings depending on its fair market value at the time of receipt. Earning incentives for referrals or staking are two examples. 

Capital gains tax: Depending on how much the price of your cryptocurrency has changed when you first obtained it, you may have a capital gain or loss when you sell it. Selling your Bitcoin or exchanging it for another cryptocurrency are classic examples.

The Takeaway

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.

Transfer from Binance to Binance.US FAQs

1. How to transfer from Binance to Binance.US?

US-based traders cannot access Binance after the platform stopped accepting users from the United States. So, if you are a US-based trader who had an account on Binance and looking to transfer from Binance to Binance.US, follow these steps:
  • Open an account on Binance.US and finish the KYC process. It is a simple and straightforward procedure.
  • Sign in to your Binance account
  • 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
  • 2. Do I need to transfer from Binance to Binance.US?

    Yes, if you are a US-based trader with an account on Binance, you need to transfer from Binance to Binance.US. Why? Because the platform is no longer allowed to operate in the States, and therefore the platform has stopped accepting US-based traders. The interface of both the platforms is the same, but Binance.US offers fewer crypto tokens and is compliant with US regulations.

    3. Is it okay to use Binance in the US?

    Binance cannot be used in the US but its sibling, Binance.US can be used in the US as it is compliant with US regulations. It is available in all states of the US except Connecticut, Idaho, Hawaii, Louisiana, Texas, New York, and Vermont.

    4. Is Binance.US the same as Binance?

    Binance.US is the American partner of Binance developed with BAM Trading Services. It has low trading fees compared to its competitors. Also, the trading interface of both the exchanges is the but Binance.US offers fewer crypto tokens as compared to its competitors.

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