If you know anything about cryptocurrencies, then the chances of you not having heard about Binance are very slim. This has been one of the best platforms for crypto trading since it emerged. But do you know what is Binance.US? It’s natural to wonder what’s the difference between Binance vs Binance.US and which one is better. Here we’ll take a closer look at the two platforms and compare their features, to help you find out how they differ from each other and which one is more suitable for you.
If you’re curious how Binance vs Binance.US compare, then just keep reading to find out.
What Is Binance?
Binance is a centralized cryptocurrency exchange founded in 2017 by Changpeng Zhao (CZ) (see their official website). Quickly after Binance was created it gained considerable popularity among cryptocurrency traders and investors who favored the exchange’s low fees and extensive variety of trading assets. That’s why today Binance is the number one cryptocurrency exchange in terms of daily trading volume. You can get an idea of how big Binance is, by knowing that it competes with over 500 other legally operating exchanges and it’s been in the leading position since 2018.
You may wonder what makes Binance so great that so many people are using it. Of course, it all depends on your trading needs, but for many people, the exchange provides a safe environment to buy and sell digital assets at low fees. There, you can also take advantage of paying with different methods, a variety of trading and earning options, educational resources, and other perks. If you consider all of this, you can conclude that Binance is not simply a place to buy and sell your crypto, but rather an advanced platform that can fulfill more trading needs. Though it’s important to mention that it’s advanced by the many features it offers and not that it’s difficult to use, since the exchange aims to be used by both beginner and experienced traders.
What Is Binance.US?
Learning what is Binance, you may wonder what is Binance.US and how it differs from the other exchange with a similar name (link to their official site). In essence, Binance is Binance.US’ parent company, that’s why they have similar names, the logo of the exchanges is the same, the interface is similar too, and Binance.US provides many features that Binance does.
The centralized exchange Binance.US emerged in 2019 after the main platform, Binance, decided to open a separate exchange for users in the United States that complies fully with the US laws and is registered with the United States Financial Crimes Enforcement Network. That was necessary because the US crypto regulations started growing stricter after the popularity of digital assets, led by Bitcoin, began growing a few years earlier. That’s why the Binance exchange warned its users that they need to move their accounts to the Binance.US exchange and shortly after that it ceased operations on US ground. Today Binance.US is the only operating exchange of the brand in the United States.
What Are the Differences Between Binance vs Binance.US?
Now you know the main difference between Binance vs Binance.US is that Binance is the parent company of the American branch Binance.US which was created to serve only US customers and adhere to the US regulations about digital assets. The US exchange has a different team also, it’s not led by CZ like Binance, but instead by Brian Shroder. Considering this, let’s take a closer look at how Binance vs Binance.US compares based on different factors on the platforms, including:
🟡 Supported locations
🟡 Number of offered coins
🟡 Trading fees
🟡 Supported fiat currencies and payment methods
🟡 Customer support
🟡 Additional features
Binance vs Binance.US: Supported Locations
The most obvious difference between Binance vs Binance.US is the number of supported locations by the exchanges. Binance is a global exchange that provides its services for a big amount of countries in the world. In 2021 the United Kingdom and Japan stopped Binance from operating on their territory and Thailand and Canada are currently investigating the exchange. But other than those locations, you can benefit from the services of the most popular exchange pretty much everywhere in the world where cryptocurrencies are legally traded.
On the other hand, Binance.US is only available to US residents. As we’ve already established, when Binance stopped working in the US, the Binance.US was created to comply with the local laws. That means that if you’re living outside the United States, you’re not able to use Binance.US. According to the website of the exchange, it currently supports trading cryptocurrencies in all states but four: Hawaii, New York, Texas, and Vermont.
Binance vs Binance.US: Number of Offered Coins
If you look at Binance vs Binance.US for the number of crypto assets for trading, you’ll find that both provide a good variety. Binance is one of the exchanges that provide the biggest variety on the market – over 600 digital assets for trading. Although Binance.US’s number of offered cryptos is considerably lower, around 100, it’s worth noting that it’s still a pretty good number and besides, the exchange is newer so it has room for future growth. The difference in the count of offered cryptocurrencies also means that you can find more crypto pairs at Binance for trading at the moment.
Here it’s worth clarifying that some cryptocurrencies may never be offered in Binance.US since the US Securities and Exchange Commission (SEC) has been investigating several assets, for example, Ripple (XRP), and if Binance.US wants to operate legally, it has to obey the regulations.
Binance vs Binance.US: Trading Fees
The popularity of the Binance exchange is greatly inspired by the low fees on the platform regarding trading. If you compare the Binance vs Binance.US trading fees you’ll find no difference, meaning US residents can benefit from the same low fees global users can.
Both platforms have detailed information about the trading fees on their websites – you can check the Binance fees here and the Binance.US ones here.
Using BNB on Binance vs Binance.US
The low trading fees on the Binance and Binance.US exchanges can be even lower if you use the Binance Coin, now renamed to BNB. This is Binance’s native token, introduced around the same time as the exchange, that gives you 25% off if you use it to pay on the exchanges. Additionally, you can also stake BNB and earn more from it. The BNB token has been also a very popular investment vehicle since it hits its high price of almost $700 in 2021.
Binance vs Binance.US: Liquidity
The liquidity of a cryptocurrency exchange is one of its most important features. It determines what kind of cryptocurrencies can be exchanged or traded and how much each trade will change the price of the asset. To put it simply, if the liquidity is smaller, then every transaction affects the price of the crypto in the exchange.
The Binance exchange has a very high liquidity of 810 as it has many users globally. Unlike that, the Binance.US is only used in the US, meaning there are fewer users. However, it still has high liquidity of 585, making it the 10th largest exchange in the world. This means that even though Binance.US is only for US residents, it successfully competes with exchanges that operate globally. The liquidity of both exchanges is very high, which indicates that both platforms are used actively on daily bases.
Binance vs Binance.US: Supported Fiat Currencies and Payment Methods
On Binance you can pay with more than 40 different fiat currencies for your digital assets and different stablecoins like USDT or Binance’s stablecoin Binance USD (BUSD). You can use a bank deposit or transfer, credit or debit card, and through peer-to-peer trading, as a payment method. If you trade on Binance.US, you can’t deposit or withdraw your funds using a credit or debit card. Also, there you can only use the US dollar as a fiat currency to pay for your cryptos.
Binance vs Binance.US: Security
Both exchanges have the same security protocols. Binance has been awarded an information security accreditation for meeting the International Organization for Standardization (ISO) standards. The two exchanges have a good reputation for the security that they provide to their users and in case of any inconvenience, Binance vs Binance.US both provide reliable customer support which we’ll describe in the next paragraph.
Binance vs Binance.US: Customer Support
Binance vs Binance.US both offer 24/7 customer support for their users. However, the ways American residents can connect with Binance.US are still limited, as they only provide email contact. On the other hand, the Binance exchange users can submit requests through email, phone, and online chat.
Binance vs Binance.US: Additional Features
As mentioned before, one of the biggest advantages of the Binance exchange is the additional features it offers. You can find a built-in wallet for your assets on it, educational recourses, NFTs for trading, a decentralized exchange, margin trading, specialized trading services for institutional and VIP clients, and more.
When comparing Binance vs Binance.US, it must be noted that Binance.US is currently more focused on trading so it doesn’t offer as many additional perks as its parent company. That being said, on Binance.US you can still take advantage of a professional trading interface if you’re an advance trader, stake cryptocurrencies, or use over-the-counter trading (OTC). Both exchanges also have a referral program.
How Does Binance vs Binance.US Compare?
When you consider all the listed differences between Binance vs Binance.US, we can summarize things in that matter:
Binance is the most famous crypto exchange in the world and the parent company of the Binance.US exchange that operates in its place in the United States. Both platforms provide a wide variety of digital assets for trading, and different payment methods, have advanced security and customer support, and both have high liquidity. Since Binance.US emerged a few years after Binance and must comply with the strict US regulations, it offers a smaller number of cryptocurrencies for trading and doesn’t have as many additional services as Binance.
How Does Binance.US Compare With Other Exchanges?
You may think it’s not fair to compare Binance.US to international exchanges but in reality, the American branch of Binance is a highly competitive platform. As mentioned, it has very high liquidity, as well as a high trading volume per day. That puts Binance.US at 10th place among more than 520 exchanges. Binance.US is ranking above exchanges like Crypto.com, Bybit, OKX, and Bitstamp, which operate in more locations than it. It’s above the American branch of FTX, FTX US, as well. Considering this, it’s safe to say that even if Binance.US isn’t as advanced as Binance yet, it’s still a very popular exchange among traders and its limited location hasn’t stopped its growth.
Binance vs Binance.US: Which One Should You Use?
Learning how many benefits both exchanges have, you may be wondering which one to pick between Binance vs Binance.US. Unfortunately, you can’t make a choice between the two platforms, as Binance can’t be used in the US and Binance.US can’t be used outside America. That means that if you’re in the US, you can only use the American branch of the company and if you’re in another country that supports crypto trading and the exchange, you can use Binance.
However, that doesn’t really limit your choice, as both platforms provide similar features and are very reputable places to trade cryptocurrencies. Binance.US is yet to grow as much as its predecessor, but its potential is undeniable. As there are many platforms where you can buy and sell digital assets, the two Binances stand out as a good option and that’s been confirmed by the many traders that pushed them into leading positions among other exchanges.
Every cryptocurrency trader or investor has their own needs when it comes to picking where to buy their digital assets. You can consider the reviewed platforms here, as they’re reputable and established exchanges, and decide if they fit your needs.
FAQs About Binance vs Binance.US
Binance.US is a safe cryptocurrency exchange that operates by all legal means in the US. The cryptocurrency exchange review site (CER) placed the exchange in fifth place among the most secured exchanges in 2022. Additionally, the platform is very secure, as it requires user verification and provides the option of two-factor authentication.
No, they are two different exchanges that operate in different locations. While the two exchanges are connected, as Binance is a parent company of Binance.US, they are led by different teams and provide different services. They are from the same brand but Binance and Binance.US are not a synonym for each other.
Binance isn’t regulated by any institutional body, that’s why in 2019 it was banned from operating in the US, following the strict regulations concerning digital assets. That’s why Binance.US was created there – for the Binance services to still be available to American crypto traders but the new company is made to specifically be compliant with the US laws and regulations. That’s why it may miss some cryptos that Binance offers, as well as other features.
👉Want the latest news on Blockchain & Crypto🪙Subscribe to the @egorithms Telegram