We have rated Binance US as being our top cryptocurrency trading platform.
Overall Rating: 85.5 / 100
# of Coins: 6.5/10
Customer Service: 10/10
Funding Options: 8/10
Recurring Buys: 10/10
Why is Binance.US the Best Crypto Exchange for 2021?
There are many reasons we chose this as our #1 exchange, but the items that stand out are the trust of the platform, the low fees, and the number of coins/cryptocurrencies on the platform. You can find just about any coin you want to invest in. And for us, we are huge fans of dollar-cost averaging, which Binance allows you to set up automatic deposits, which takes the guessing out how to time the market.
We will spend some time here going deeper into Binance.US:
Overview of Company: Binance.US is powered by matching engine and wallet technologies licensed from the world’s largest cryptocurrency exchange, Binance. Binance.US has to be its own entity due to increased regulation in the United States. It is owned and operated by BAM Trading Services out of San Francisco, CA.
Binance.US launched in September 2019. The original Binance platform was created in 2017, and is one of the most trusted brands in the cryptocurrency exchange industry.
CEO: Catherine Coley (since 2019)
Binance.US is a relatively new crypto exchange but brings lots of experienced developers, patents, and funding from its big brother, Binance. We expect lots of improvements in the coming months/years, but the current product is still very good.
Because of this relationship, Binance.US utilizes many of the security measures and protocols developed by Binance - as seen in our 9.5/10 Trust score.
Binance.US has the lowest Bid/Ask Spread and very low fees making it popular amongst traders.
One of our favorite features is the recurring buy option. This means you can choose to automatically purchase your favorite cryptocurrency on any schedule you want! This buying strategy is called Dollar Cost Averaging, and is, historically, one of the most effective ways to limit risk and still be exposed to the significant long-term upside.
Binance.US does not offer Margin or Leverage trading. If you are a trader who wants to trade on margin with leverage look elsewhere (we recommend www.CEX.io ) This will impact very experienced traders, but the trading platform is still good. We expect margin and leverage trading to be added at some point.
This platform is still somewhat new and may have some ups and downs customary to new platforms.
# of Coins: 52
Current Promotions: No notable promotions to report.
Fees: We give these guys the top-rated Fee Score (10/10) Why?
Deposit: No deposit fee or withdrawal fee (if using ACH). Low withdrawal fees if using other methods.
Withdrawal Fees / Coin List:
|Coin||Minimum Withdrawal ($)||Method||Deposit Fee ($)||Withdrawal Fee ($)|
|USD||US Dollar||100||WIRE||0||15 domestic
|USD||US Dollar||N/A||DEBIT CARD||4.50%||N/A|
|Symbol||Coin Name||Minimum Withdrawal||Withdrawal Fee|
|BCHA||Bitcoin Cash ABC||0.005||0.001|
|BAT||Basic Attention Token||36||18|
HODLers (Hold On for Dear Life) don’t trade, sell dips, or worry about Bitcoin price in the short term. HODLers are in it for the long term and have multi-year price goals. The most important features for HODLers are: Security and Auto-Buys.
If you hold BNB in your account, your trading fees will be automatically deducted from your BNB balance. You get a 25% discount from your trading fee if you use BNB to pay for trading fees.
Trading Fee Schedule:
|Level||30d Trade Volume (USD)||&||BNB Balance||Maker / Taker||Maker/TakerBNB 25% off|
|VIP 0||< 50,000.00 USD||or||≥ 0 BNB||0.1000% / 0.1000%||0.0750% / 0.0750%|
|VIP 1||≥ 50,000.00 USD||&||≥ 50 BNB||0.0900% / 0.0900%||0.0675% / 0.0675%|
|VIP 2||≥ 100,000.00 USD||&||≥ 100 BNB||0.0800% / 0.0900%||0.0600% / 0.0675%|
|VIP 3||≥ 500,000.00 USD||&||≥ 200 BNB||0.0700% / 0.0800%||0.0525% / 0.0600%|
|VIP 4||≥ 1,000,000.00 USD||&||≥ 400 BNB||0.0500% / 0.0700%||0.0375% / 0.0525%|
|VIP 5||≥ 5,000,000.00 USD||&||≥ 800 BNB||0.0400% / 0.0600%||0.0300% / 0.0450%|
|VIP 6||≥ 10,000,000.00 USD||&||≥ 1500 BNB||0.0000% / 0.0600%||0.0000% / 0.0450%|
|VIP 7||≥ 25,000,000.00 USD||&||≥ 2500 BNB||0.0000% / 0.0500%||0.0000% / 0.0375%|
|VIP 8||≥ 100,000,000.00 USD||&||≥ 4000 BNB||0.0000% / 0.0400%||0.0000% / 0.0300%|
|VIP 9||≥ 250,000,000.00 USD||&||≥ 6000 BNB||0.0000% / 0.0300%||0.0000% / 0.0225%|
|VIP 10||≥ 500,000,000.00 USD||&||≥ 6000 BNB||0.0000% / 0.0200%||0.0000% / 0.0150%|
GREAT trading platform with Basic, Advanced, and OTC options combined with a lot of cool features, views, and open API ability to build your own trading algorithms, but lacks margin trading with leverage. That hurts, but we expect them to add both at some point.
Binance.US has 2nd highest Trust score and the highest Cybersecurity score. If you plan on holding crypto for a long time you need to be sure the exchange you trust with your holdings is incredibly secure.
Auto / Recurring Buys
We can not overstate how convenient and powerful auto/recurring buys are. Set it and forget it. Buy the dips automatically. Buy the runs automatically. If you aren’t a technical trader this is the best way to purchase crypto while mitigating price risk. This is the best way for Bitcoin believers to purchase without large one-time purchases.
We are big fans of auto/recurring buys (Dollar Cost Averaging) and encourage you to utilize this strategy if you don’t want to make a large, one-time purchase, and then move your crypto into a hardware wallet.
Analysis / Educational Tools
Binance.US has a robust section for educating users looking to understand traditional trading strategies, those wading into cryptocurrencies, and a great FAQ area.
We REALLY like that Binance.US ‘Project Reports’ (in their Blog section) that goes through each cryptocurrency on their site. This is an accessible, organized, and thorough way to study up on all the different cryptocurrencies.
Mobile / App
Very simple and intuitive. We really enjoy the look and feel of this app. Some of the more advanced trading features are either not available on the app, or are more difficult to navigate than the desktop version.
Summary of Binance.US Crypto Exchange Review
As you can tell by now, we believe Binance.US is the best platform overall for most traders. Unless you are an advanced trader looking for margin trading, Binance.US is going to be your best option. We will be sure to update this again for the next year in case anything changes. But right now, go open your Binance.US account today and start trading!