Ease of Use
Just as with other popular exchanges, Binance.US makes it easy to buy and sell cryptocurrency. There are four main paths to do this: Buy Cryptocurrency, Markets, Advanced and Over-the-Counter (OTC).
For Buy Cryptocurrency, the design is bright and clear, and you can swiftly select which digital coin you wish to buy and how you’d like to pay. Anyone new to the investing space and eager to avoid a mistake, will feel comfortable making a trade.
More experienced investors, though, will gravitate toward one of Binance.US’s two trading platforms: Markets, its trading iteration previously named Basic, and Advanced.
Any user will benefit from Markets’ and Advanced’s lower fees, although the features these platforms offer are more useful for sophisticated traders interested in charting functions, real-time price changes and specialized order types, like stop-limit orders. You can track several crypto pairs and create your own dashboard for monitoring their movements as well as other investor demand.
Finally, the OTC feature waives fees for trades of at least $10,000, though you will fork over the spread between the buy and sell price. This option, given its high minimum and peer-to-peer nature, should be used cautiously.
Security
Binance.US rates highly on the security of its exchange. For instance, crypto exchange security review site CER ranked Binance.US the fifth most secure exchange, as of March 2022, ahead of big names like Coinbase and even the main Binance exchange.
When you sign up, you’ll be asked to enable two-factor authentication, set up an anti-phishing code (which is how many hacks take place) and verify your identity through a government-issued ID.
Binance.US also has a preferred crypto wallet partner so you can easily store your crypto cache, though you can use another one that you prefer.
Binance.US and Original Binance
While Binance.US hasn’t engendered much controversy, the same can’t be said of its parent company Binance Holdings, which is the largest cryptocurrency exchange in the world.
Last year, the Commodity Futures Trading Commission (CFTC) announced that it was investigating Binance over its role in helping American traders buy and sell derivatives that fall under the regulator’s purview. Binance has since purged all American customers and redirected them to Binance.US.
More worrying, perhaps, to crypto traders was a 2019 hack that saw criminals steal more than 7,000 Bitcoin off Binance. Thankfully for those victims, Binance reimbursed its clients for their losses.
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