Binance is the original company founded by Changpeng Zhao in China in the year 2017. With regulations changing in every major country, Zhao had to move his headquarters around the world till the cryptocurrency caught wind and became one of the most prominent cryptocurrency platforms in the world.
In this article, lets’ review the differences between Binance.com and Binance.us. We will discuss in detail both platforms and what are the differences between the two. If you’re looking for a more specific Binance.com deep dive, read our Binance.com review.
Binance.com VS. Binance.us – Who Should Use Which?
The ultimate goal of Binance is to make transactions easier for individuals. And with its success, Binance has already made history for cryptocurrencies in the financial market.
Binance’s success showcases the rich world of the crypto-verse, which many people remain untapped. Even with the controversy around the platform, it continues to be actively one of the largest crypto trading platforms in the whole world.
In 2019, the company decided to open another branch in New Jersey, hosted on Binance.je, which was to be a separate subsidiary of the parent company Binance.com. This branch was meant to trade fiat to cryptocurrency, including several significant currencies like the British pound and Euros.
Since the US had imposed regulations that had a negative impact on Binance, Binance.us was born out of this tough situation, which allowed users in the US to use Binance but without changing its exchange.
Differences Between Binance.com and Binance.us
Although the name is similar in every way, Binance.us and Binance.com are entirely different from each other. Binance.us is an entirely separate entity from Binance.com. The only connection between the two is that Binance owns the Binance.us name and intellectual property, so if you’re for example looking to promote the Binance referral program, you’ll have to do so one (or both individually) versions.
Let’s take a look at some of the differences between the two:
Trading Fees:
One of the many reasons for Binance.com’s popularity is that the trading fees for this platform are meager. The prices are very competitive, and many other exchanges do not offer the same perks as Binance.com.
In addition to this, Binance.com even offers users discounts and other offers for using Binance coins and to new users. For Binance.us as well, these prices are meager. Even if you take out the option of getting discounts and bonuses, the price for Binance.us is lower than average crypto trading platforms in the US.
Types of cryptocurrency:
Binance.com offers a vast range of cryptocurrencies. It is one of the reasons why Binance is so famous in the world. It has over 500 cryptocurrency types that you can trade in. Among the 500 coins, Binance.com offers its users are some of the top coins in the cryptocurrency universe, such as Bitcoin and Ethereum.
It also has provides users with more than 1200 trading pairs. On the other hand, Binance.us only has 53 cryptocurrencies for its users. Although the number looks strikingly lower than the global platform, it is right at par with the rest of the exchange platforms operating in the US.
Liquidity:
The liquidity pool of Binance.com is vast. As of 2021, the spot trading volume for the global Binance platform was 1.5 trillion dollars. In contrast, Binance.us has only US customers since it operates only in the US. On top of this, some states in the US do not allow Binance.us to operate, so the liquidity pool becomes even smaller.
However, since the US is one of the largest markets for cryptocurrency globally, the platform still brings in about $28 billion, although it is a smaller liquidity pool than Binance.com.
Binance for US customers
The choice for which Binance platform to use is straightforward. If you are a resident of the US, it is best to use Binance.us since it is legal; plus one of the most popular crypto exchange platforms.
The only reason it is even a separate entity is to comply with the US regulations of cryptocurrency trading platforms. Whereas, if you are from outside the US, you can sign up for Binance.com and use that one, easily one of the largest trading platforms.
How to Use Binance in the US?
The only way to use Binance in the US is by getting the Binance.us app. Since Binance, the global platform, is banned in the US, you can only get access to Binance US; a subsidiary explicitly created for the US users of Binance. Here, the coin options are less than the global Binance, but the rates are all the same, so you are not missing out on much.
The interface and the features for both these platforms are very similar to each other. Binance.US is allowed to operate in most US states except for Vermont, Connecticut, Texas, Hawaii, New York, Idaho, and Louisiana.
How to Transfer Funds from Binance.com to Binance.us?
- Launch the Binance.com platform
- Go to “wallets.”
- Choose the “withdraw” option.
- Navigate to wallets.
- You will then have to copy your Binance.us wallet deposit address and paste it on the website for each coin you want to transfer.
- Once you are done, all the funds will be deposited.
FAQs
Yes, Binance.us is safe for US residents to use. There have been no reports of security breaches so far with Binance.us.
Binance.com was banned from the US in 2019 on regulatory grounds. US citizens can no longer use Binance.com, and all US IP addre4sses have been blocked from using the platform. To make up for this loss of market, Binance created Binance.us as a subsidiary to operate as an independent company in the US.
No. Binance.com is not legal in the US. However, Binance global has developed a new subsidiary called Binance.us; a separate exchange platform specifically made for the US crowd. Binance.us is operational in 41 US states.
Binance US is a partner company of the global platform Binance. Even though Binance is not legal for use in the United States, the partner company can be accessed by all residents except for these few states: Vermont, Connecticut, Texas, Hawaii, New York, Idaho, and Louisiana.
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