Option for recurring investments, for dollar-cost averaging.Not available in Hawaii, Idaho, Louisiana, New York, Texas, or Vermont.For most long-term, retirement-minded investors, we’d recommend sticking with exchanges such as Coinbase or Gemini, which are much more transparent about these key operations. It also has an easy-to-use buy/sell option for beginners, while more advanced traders can get the benefit of its in-depth “basic” and “advanced” trading platforms.ĭespite those benefits, Binance.US offers limited crypto options and is much less transparent than many competitor exchanges when it comes to security, storage options, and customer assistance. The biggest draw of Binance.US is its low fees compared to some other exchanges. United States investors still cannot use the original Binance today, but Binance.US offers over 80 cryptocurrencies for investors to choose from. They operate as separate companies, the spokesperson said in an email, with Binance.US licensing software, trademarks, and wallet technology from Binance. We didn’t hear back from officials at Binance or Binance.US after we first reached out, though a spokesperson contacted us on behalf of Binance.US after our review originally published in 2021 to provide additional context on the relationship between Binance and Binance.US. We reached out to Binance and Binance.US last year and again in February 2022 in an attempt to confirm details about reported regulatory investigations, as well as to better understand the relationship between the international and U.S-based platforms. The Securities and Exchange Commission is currently investigating the relationships between Binance.US and two firms owned by Binance founder Changpeng Zhao, the Wall Street Journal reported. That level of scrutiny was recently extended to Binance.US, which Binance has referred to in the past as a U.S. government for tax fraud, money laundering, and insider trading as recently as September 2021, according to reporting by Bloomberg. Binance was also under investigation by the U.S. and Italy have banned Binance from operating in their countries, while officials in Hong Kong and Japan have warned investors about the exchange.
Since the 2019 introduction of Binance.US, the international Binance has faced regulatory scrutiny.
users in 2019, and announced it would instead partner with a U.S.-based version of its platform called Binance.US. Binance.US was started under a partnership with the Financial Crimes Enforcement Network (FinCEN)-registered BAM Trading Services as part of its move into the U.S. The original platform stopped accepting U.S. Only invest in crypto what you’re prepared to lose, and make sure you have other financial priorities in place first: save money in an emergency fund, contribute to retirement savings, and pay off any high-interest debt balances.īinance.US can grab investors’ attention with lower fees than many other cryptocurrency exchanges, but we’d recommend paying a bit more for added transparency.īinance.US is an American partner of Binance, the world’s largest cryptocurrency exchange by trading volume, and which was founded in China in 2017. No matter where you buy it, cryptocurrency is a highly volatile, speculative investment.