What is the Difference Between Binance and Binance US?
Both exchanges offer competitive trading fees; Binance even provides special “VIP” trading tiers which further lower them. However, Binance US is also has practical solutions in various purposes.
Both platforms prioritize security. They use cold storage and multisignature schemes to safeguard your funds.
Your account can be funded with both fiat and crypto, although to withdraw fiat you must meet KYC requirements.
Fees
Binance and Binance Us fees depend on your deposit/withdrawal method, with debit card deposits often incurring high fees (3.75% on US carveout) while there may also be transaction costs when moving cryptocurrency between wallet and exchange.
Both platforms feature low trading fees thanks to a tiered fee structure that takes into account trade volume and BNB balance tiering; providing an incentive to keep your BNB stash safe in your account.
Both platforms utilize extensive security protocols. They employ a secure layered approach, round-the-clock platform monitoring, cold storage protection and private key protection, an SAFU fund that will reimburse customers who experience funds losses due to hacking or other causes, customer support available via email and chat only – unlike its competitors that provide phone support; which may cause concerns among some traders.
Trading options
Binance US is an offshoot of Binance cryptocurrency exchange, tailored specifically to US regulations. Although its selection of digital assets may be more limited than on its parent exchange, Binance US still boasts lightning-fast trading execution and competitive fees as well as offering lightning fast mobile app trading with an incredible user interface (UI).
However, it should be noted that Binance US falls behind its international version when it comes to features for experienced traders. For instance, the latter offers an Earn platform, futures and margin trading, NFT marketplaces, a Launchpad platform, as well as an outstanding mobile app.
Stablecoin prices and settles trading options, making it easier for traders to understand their cost/profit calculations and lower trading fees with increasing trading volume; fees start at 0.10% but can be reduced further to as little as 0.02% by using BNB coins for transaction fees, and trading fees may even be waived altogether when trading over $10 Million over 30 days.
Security
Binance is a highly secure cryptocurrency exchange with sophisticated organizational security systems and a strong commitment to user safety, employing threshold signature schemes to prevent hacking attempts and data encryption to safeguard personal information. Furthermore, its round-the-clock platform monitoring keeps most crypto secure; additionally, security notifications may be sent if any suspicious activity occurs on users accounts.
Binance is currently under review by various governments to determine its regulatory needs, with FCA and SEC from the US being two prominent authorities that have expressed interest. At present, FDIC insures funds placed with Binance which are stored at legitimate banks; once those dollars have been converted to crypto or tokens however they no longer fall under its protection.
This exchange offers several security features, such as hardware 2FA authentication, withdrawal whitelisting and device restrictions. Furthermore, password managers may provide extra protection.
At the time of writing, Binance has a 24-hour trading volume of over $7.6 billion. Binance US, on the other hand, has a trading volume of over $15.2 million.
Of course, Binance has a far larger user base, but Binance US‘s 24-hour trading volume is still pretty low for such a big name.
Another factor to consider is customer service. While Binance offers customer service via online chat, telephone, and 24/7 email, Binance US can only assist customers via its 24/7 email service.
“Binance and Binance.US Are Not Identical Platforms”
There’s a reason why Binance and Binance.US exist separately from one another. These two platforms share certain features, layouts, and fees, but there are important differences to consider before you sign up for either.
You can check out this page for other questions about Binance US.
