Binance.US Reviews 2025: Fees, Features, Safety, Pros & Cons

Binance.US is the US arm of global cryptocurrency giant Binance. The crypto exchange claims to operate independently from the international Binance exchange to serve US-based customers. The platform supports around 120 cryptocurrencies and doesn’t offer derivatives products.

However, whether Binance.US is a separate entity or a mere subsidy for the main platform remains a question as journalists and regulators continue to probe the exchange’s opaque business structures. 

In this Binance.US review, we will walk you through the fees, pros, and cons of the Binance.US cryptocurrency exchange platform. We will also cover some of the controversies Binance.US is embroiled in so that you can make an informed decision about whether or not it’s the right exchange for you.

Pros & Cons of Binance.US

Pros

• Low trading fees and competitive fee schedule
• Free BTC trading pairs
• Educational resources available

Cons

• Not available in Texas, Vermont, New York, and Hawaii.
• A limited selection of cryptocurrencies compared to the global platform
• The advanced trading interface can be tough to navigate
• Troubles with regulators and the media regarding the opaque business structure

About Binance.US

The Binance.US crypto exchange was founded in 2019 when the main Binance platform started to buckle up under regulatory pressure from the US authorities.

Reuters reported that the Binance CEO Changpeng Zhao approved founding the Binance.US platform to direct US authorities’ attention away from the global platform. 

Binance vs. Regulators

While Changpeng Zhao claims that the Binance US exchange is completely independent of the global company, Reuters reported that the Binance CEO controls the US platform. Moreover, the in-company messages described the platform as a “de-facto subsidiary” of the main exchange.

Forbes had also reported similarly back in 2020, based on documents revealed by a senior Binance executive. Titled “Tai Chi,” the document describes Binance.US as a decoy-regulated entity and outlines how Binance.US trading fees can be funneled to the main company through a parent company. 

Binance swiftly filed a lawsuit against Forbes and dismissed the claims but quietly dropped the case in 2021.

The model described in the Forbes report isn’t uncommon in the crypto business: Bitfinex and its parent company iFinex, which issues Tether stablecoin, had a similar relationship, and so did the now defunct FTX and Alameda Research.

According to the Reuters report, almost half of the Binance.US compliance team left the company after new management under Zhao fordered ast-tracking anti-money laundering checks the platform is obliged to issue.

Binance is under investigation by several US and European authorities for money laundering and other issues, including tax evasion.

Crypto Coins Available on Binance

Binance offers around 120 cryptocurrencies, including all the major large-cap coins like Bitcoin, Ethereum, Binance USD, Tether, Polkadot, Cardano, Dogecoin, and Solana.

Binance also has its native currency Binance Coin (BNB). Users who pay their trading fees with BNB receive a %25 discount on their trading fees.

In 2022, Binance announced it would stop supporting several stablecoins, including USDC, TrueUSD, and Pax Dollar, on the exchange platform. The exchange continues to support Tether.

Fiat Currencies Supported on Binance

Binance supports USD deposits and withdrawals. 

There are a couple of ways to purchase cryptocurrencies with USD on the platform. 

You can link your bank account to the platform and purchase or sell crypto via ACH. You can also use Apple Pay (connected to a debit card), debit cards, or domestic wire to fund your account in USD.

When you deposit to the platform via ACH, Apple Pay, or domestic wire, you can’t withdraw your funds within the first ten days of your deposit, even if you use your funds to purchase crypto. Exceptions can be made for wire transfer deposits, but you have to contact Binance support for more information.

You can withdraw USD from the platform via ACH (minimum limit of 1 USD) and domestic wire (minimum withdrawal limit of 100 USD).

Countries Supported on Binance

Binance.US is available to US-based customers from all US states except for Hawaii, Texas, Vermont, and New York.

Binance.US Fees

Binance US offers very competitive fees, one of the lowest in the American market. 

Buy, Sell & Convert Fees

If you use the easy Binance buy/sell & convert feature, you will be charged a spread for your transaction. Spreads vary depending on the market conditions. This option is more expensive compared to spot trading, but it’s also easier and more suited to absolute beginners.

Advanced Trading (Spot Trading) Fees 

The platform offers around 60 trading pairs divided into three categories or tiers. You can trade eight Tier 0 pairings, including BTC/USD, BTC/USDT, BTC/BUSD, and ETH/USD, without paying any trading fees.

Spot trading fees for Tier 1 pairings start at 0.1% for makers and 0.2% for takers. For Tier 2 parings, makers pay 0.4%, and takers pay 0.6%.

Trading fees for tier 1 and tier 2 pairing are determined by your 30-day trading volume. You also receive a 25% discount when you pay fees with your BNB holdings.

Deposit and Withdrawal Fees

Deposit and withdrawal fees vary depending on the currency and payment method. ACH deposits are free, while domestic wires cost a 10-15 USD fee.

Debit card and Apple Pay purchases cost a 3.75% deposit fee.

Does Binance Offer Users Any Rewards?

Binance.US offers referral bonuses and trading discounts to users. Let’s see what each means for crypto traders in more detail.

Referral Bonus: You can invite your friends to Binance.us and earn 10 USD if they purchase $100 worth of crypto within 30 days of completing account verification.

Main Features of Binance

The US platform offers a spot market, OTC service, and staking opportunities. There is also a beginner-friendly buy-and-sell function.

Binance.US doesn’t offer derivatives, futures, or margin trading opportunities.

Binance Convert

Binance Buy/Sell and Convert service allows you to purchase, sell or swap digital currencies quickly and without any knowledge of crypto markets. There is a catch, though: the service charges a spread of around 0.5% for each transaction, which is more expensive compared to trading on the spot market.

Spot Trading

Binance’s spot trading market allows you to buy and sell around 120 cryptocurrencies at dynamic market prices. There are no spreads in the spot market, but users pay varying trading fees depending on the assets they trade.

Staking

Binance offers staking services for over 20 cryptocurrencies. Users can earn passive income from their crypto holdings by utilizing staking services.

To be eligible for staking, you must complete intermediate-level identity verification by providing proof of address and photo ID.

Once you stake your assets, you receive weekly rewards based on APY levels Binance offers.

Binance Customer Service

Binance.US offers limited customer support options. There is a 24/7 live chat to help customers solve issues, but the platform mainly provides tools for self-support, including a support center with FAQ articles.

You can’t contact customer support via email or phone calls.

How Easy Is It to Open a Binance Account?

Opening a Binance.US account is pretty easy, but identity verification can take some time. 

You can register with your email address and phone number. In order to start trading on the platform, you must complete basic verification, including providing your legal name, birth date, SSN, and address details.

Once you complete basic verification, you can:

• Deposit and withdraw crypto
• Buy and sell USD via bank transfer and debit cards
• Use the Buy, Sell and Convert feature
• Use Advanced Trading service
• Use staking services

Advanced Verification

Advanced verification requires submitting an identification document such as a driver’s license or passport. You also have to submit a selfie.

Once you complete Advanced Verification, you can take advantage of the following:

• Wire deposits and withdrawals
• OTC trading
• API trading
• Increased trading limits

How Secure Is Binance.US?

Binance.US provides industry-standard security features, including cold storage. Users can also set up two-factor authentication and whitelist crypto wallet addresses.

Reuters have reported that Binance took action to fast-track the user verification process. While this can speed up the process, it also makes the exchange a target for money laundering and other financial crimes.

In June 2022, an investor sued the exchange for falsely advertising Terra USD as a safe investment. Stablecoins are pegged 1:1 to fiat currencies, so they are supposed to be resistant to price volatility. However, Terra USD plummeted in May 2022, triggering a domino effect that wiped billion of dollars from the crypto sphere. 

Binance is one of the many exchanges that sold Terra USD, and the class action may not be fruitful, but it definitely has made regulators pay more attention to the exchange. 

Has Binance.US Ever Been Hacked?

While Binance global has been hacked several times, Binance.US hasn’t reported a security breach since its launch.

Is Binance.US a Regulated Exchange?

Binance US is a registered money service business in the US. However, Binance is under investigation by several US authorities, including the SEC and the Justice Department.

US crypto regulations remain a work in progress, with the SEC and the U.S Commodity Futures Trading Commission trying to establish superiority regarding who is in charge. In the meantime, most trading platforms can operate as money service businesses with little oversight from the authorities.

How Does Binance.US Compare to Other Crypto Exchange Alternatives?

Binance US faces stiff competition in the US. While the exchange offers very competitive fees, it doesn’t offer the same features the global platform offers in the US.

Let’s take a look at the exchange’s fees, features, and security below.

Fees

Binance US has a 0.10% starting trading fee for all spot trades but also offers zero-fee trading pairs. This is lower than what most exchanges charge. Users can pay even less in trading fees if they hold BNB in their accounts.

Binance’s biggest competitors in the US are Coinbase and Kraken.

Coinbase fees start at 0.40% (maker fees) and 0.60% (taker fees), while Kraken fees start at %0.16 (maker fees) and %0.20 (taker fees). Overall, Binance beats the competition when it comes to the cheapest fees.

Features

Binance US, Coinbase, and Kraken offer similar features for US-based customers. All three exchanges offer around 120-150 crypto assets.

However, both Coinbase and Kraken offer a larger liquidity pool and have a higher trading volume compared to Binance US.

Kraken offers much better customer support than Binance since you can reach the exchange by phone to request help with possible issues.

Security

When it comes to security, Coinbase and Kraken fare better than Binance US. While Binance US hasn’t been hacked before, the global platform has been. 

Coinbase has been hacked before, but as a public company, it takes regulations more seriously than Binance and has a better reputation overall. On the other hand, Kraken has never been hacked since its launch in 2011.

Does Binance.US Have an App?

Yes, Binance US has a mobile app available for iOS and Android devices. The app offers the same features as the website. You can buy, sell, and trade cryptocurrencies on the go.

Binance.US Review: Final Thoughts

Binance US offers over 120 cryptocurrencies, low trading fees, and profitable staking options. The platform has an easy buy, sell and convert feature for beginners, but advanced traders can take advantage of low fees in the spot market. 

Unfortunately, Binance US is quite opaque when it comes to its business structures. The company has been embroiled in several investigations since its founding.

Journalists who talked to sources from inside the company have revealed that Binance US isn’t independent as it seems regarding operations and budgets. The company is accused of funneling funds to the global platform. 

Overall, it looks like Binance US can face serious legal troubles in the near future, which could put investors’ funds at risk. So despite its low trading fees, Binance.US may not be the right platform for you if you want a secure platform that puts regulatory compliance first.

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