Binance vs Binance US Review 2024: Pros, Cons, Which is Best!

When it comes to cryptocurrency trading exchanges, Binance is like the Google of the centralized exchange industry. Not in a weird, “spy on you” sort of way, but I mean in terms of sheer dominance and usefulness. Though Binance and Binance US are both great platforms, they are not quite equal. This Binance vs Binance US review will walk you through the differences and let you know which one is best for you.

Binance is the largest exchange in the world by a considerable margin, both in terms of trading volume and users, and for anyone who has ever used it, it is obvious why. Binance offers the best “all-in-one” crypto trading hub to meet the needs of nearly any trader. Though Binance US can't quite fill the shoes of the parent company, it is still a fantastic choice for US-based users.

Both exchanges boast a wide range of digital assets and trading pairs, as well as feature cutting-edge tools for those who know their way around a crypto trading platform. 

However, as mentioned, there are some significant distinctions between the two platforms that traders should consider when deciding on which one to use. 

In this article, we'll be taking a deep dive into Binance vs Binance US, delving into the similarities and differences between the two exchanges, with a focus on fees, supported coins, security, and more. Whether you're new to the game or a seasoned pro, this guide will help you make an informed decision on which platform will best suit your trading needs.

Note: Users located in the US and UK are not supported.

Binance Pros:

• Wide range of digital assets and trading pairs available
• Advanced features for experienced traders
• Low trading fees and fee-free trading on some BTC and ETH pairs
• Strong security measures
• User-friendly interface
• Mobile app available for trading on the go
• Features more crypto-centric products than any exchange
• Features beginner-friendly trading options
• Professional-grade trading engine

Binance Cons:

• Not available to US customers
• Can have strict verification processes for some users
• Advanced trading options and features can be overwhelming for new users

Binance US Pros:

• Available to US customers in 45 states
• Compliant with US regulations
• Low trading fees and fee-free options on some BTC and ETH pairs
• Fast transaction processing
• High-security measures
• User-friendly interface
• Mobile app available for trading on the go
• Has beginner-friendly trading features, while able to accommodate advanced traders

Binance US Cons:

• Limited selection of digital assets compared to Binance
• No futures or margin trading
• Does not have as many advanced features for experienced traders
• Slow customer support response times
• Not available in Hawaii, Idaho, New York, Texas, or Vermont

Binance vs Binance US Bottom Line

After comparing Binance and Binance US, it's clear that both platforms have their own set of strengths and weaknesses, which we will highlight in detail as we go through this article.

In the interest of saving you time, to put it bluntly, if you are not a US citizen, you would be better suited to use the international Binance platform. It has far more products, features, and tradeable assets as they do not need to abide by the restrictive cryptocurrency regulatory framework in the United States.

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Unfortunately, Binance is not available to US customers, but Binance US is still a darn fine platform. You can learn more about it in our dedicated Binance US review.

Binance US complies with US regulations, it's available to US customers in 45 states, and it offers low fees and lightning-speed trading execution along with deep liquidity making it suitable for retail and institutional traders.

👉 Sign up for Binance US and enjoy high-performance trading and low fees!

However, its selection of digital assets is limited compared to Binance, and it does not have as many advanced features for experienced traders.

The choice between Binance and Binance US will ultimately depend on the user's location, the digital assets they wish to trade, and the features they value the most. Users should weigh the pros and cons of each platform and choose the one that best fits their needs.

What Is Binance?

Binance is the leading cryptocurrency exchange platform that offers the trading of an enormous range of digital assets and trading pairs. The platform is known for its advanced features and professional-grade trading experience.

The simple and advanced trading screens make it popular for both new and experienced traders. Binance also offers a mobile app, futures trading, and is popular for leverage traders. Additionally, Binance's low trading fee structure and strong security measures make it respected and trusted among traders.

The History of Binance

Binance is a global cryptocurrency exchange that was founded in 2017 by Changpeng Zhao, affectionately referred to as “CZ” in the community. Prior to starting Binance, CZ had a background in software development and had worked at several technology companies, including Blockchain.info and OKCoin.

He also founded a company called Fusion Systems, which built high-frequency trading systems for stock exchanges before working at the Tokyo Stock Exchange. Talk about a smart cookie… Before feeling too intimidated, on a fun note, CZ worked as a McDonald's cook in Vancouver, Canada as a youngster before getting his degree in computer science at the prestigious McGill University in Montreal. Hey, we all gotta start somewhere!

Binance was launched in July 2017, initially based in China, but due to the uneasy crypto relationship between the Chinese government and crypto, they later moved the headquarters to Malta.

CZ stepped down as CEO in November 2023 after pleading guilty to a money laundering charge by US authorities. 

The exchange quickly gained popularity because of its user-friendly interface, huge product offering, and low trading fee approach. In its first year, Binance attracted millions of users and became one of the largest crypto exchanges in the world by trading volume.

In 2018, Binance announced plans to expand into new markets, including the launch of Binance Uganda, a fiat-to-crypto exchange for Ugandan residents, and launched the Binance DEX. The following year, Binance announced Binance US, a separate platform for US customers which complies with US regulations, and also Binance Jersey, a fiat-to-crypto exchange for European customers.

In 2020, Binance launched several new services, including Binance Staking, Binance Lending, Binance Savings, and heaps more. The company also announced plans to launch a public blockchain and its own cryptocurrency, Binance Coin (BNB).

Today, Binance is the largest and most popular cryptocurrency exchange in the world, with tens of millions of users and billions in trading volume being conducted. The company continues to expand and innovate, with plans to launch new products and services in the future.

You can learn more in our dedicated Binance Review.

Alternatively, Guy also put together this handy Binance Beginner's guide which is helpful for both Binance and Binance US users.

The Location of Binance

Binance's headquarters is currently listed as the Cayman Islands but the company primarily operates out of Malta and Dubai. Binance has offices in Bahrain, Dubai, Uganda, Jersey, and Paris, with plans on expanding to other locations.

What Is Binance US?

Binance US is a cryptocurrency exchange that is based on the global exchange Binance, but is specifically tailored to the US market in terms of regulatory compliance and trading offerings. BAM Trading Services, a United States-based company, operates the US exchange.

BAM Trading Services is a subsidiary of the larger Binance cryptocurrency trading platform. Binance US allows users to trade a variety of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and 140 other digital assets against other cryptocurrencies, USD, or USD stablecoins.

Like the global platform, Binance US charges low trading fees and has a user-friendly interface, making it accessible to both novice and experienced traders. It also provides a mobile app, and the trading and matching engine are suitable for professional traders and institutions. Binance US provides a safe and secure trading environment, which will be covered in more detail further on.

Binance US is available to customers in most US states, except for a few states that have stricter cryptocurrency regulations, which I mentioned above. It allows users to deposit and trade in USD fiat currency, as well as crypto.

The History of Binance US

Binance US was launched in 2019 to meet the restrictions of US market regulators and authorities and was specifically tailored to the US market regulatory framework.

In order to do this, Binance formed a partnership with BAM Trading Services, a company based in San Francisco, California, which operates the Binance US platform. The platform is a separate entity from the global Binance exchange, but uses much of the same technology and offers a similar user experience.

Binance US was officially launched in September 2019 and quickly gained popularity among US-based cryptocurrency traders as a good Coinbase alternative for more sophisticated traders with advanced trading requirements. You can learn more about this exchange in our dedicated Binance US review.

The Location of Binance US

Binance US is located in San Francisco, USA where it provides digital asset trading services to US citizens through BAM Trading Services.

Who Can Use Binance and Binance US?

Binance is a global cryptocurrency exchange platform, accessible to anyone around the world except for a few restricted countries, most of which are under sanctions from the United States.

The US platform is only available to users located, incorporated, or registered. in the United States or its territories.

Differences between Binance and Binance US

Obviously, both are digital asset exchange platforms, but there are some key differences between the two.

1. Availability: Binance is a global platform and can be used by anyone around the world, except for countries restricted by Binance. Binance US is only available to individuals or entities that are located, incorporated or registered in the United States or its territories.
2. Regulations: Binance operates under the regulations of multiple jurisdictions where it is based, while Binance US complies with the regulations of the United States.
3. Asset availability: Binance offers a wider range of fiat, digital assets, trading pairs, and products compared to Binance US. Binance US has a limited selection of digital assets available for trading, which is common among US exchanges.
4. Trading fees: Both platforms have low fees, but the specifics of the trading fee rates vary between the two platforms. Funding and withdrawal fees vary depending on the fiat funding and withdrawal options selected.
5. Advanced features: Binance users are spoiled for choice with a plethora of trading features for experienced traders compared to Binance US. Though the US version still has plenty on offer to appease most traders.
6. Customer support: Both platforms offer customer support via a ticketing system, email, and live chat, with the international platform having better response times during our tests and determined by reading reviews sites.
7. User interface: Both platforms have a user-friendly interface for experienced traders, or once users get familiar with the platform. Binance could be considered overwhelming for new users due to the sheer number of features and settings. Both platforms also feature a highly rated mobile app.
8. Product Availability: The international platform offers a comprehensive Earn platform, futures and margin trading, a Launchpad, an NFT marketplace, and far more that are not available on the US platform.

To sum up this section, while Binance and Binance US share more similarities than differences, users should primarily consider their location and what asset/feature support they are interested in when making the decision.

User Interface Comparison

If you're a digital asset trader, you know that the user interface (UI) of an exchange platform can make or break the trading experience. Especially for high-frequency traders and scalpers, you know the importance of lightning-fast trading execution and low slippage. Fortunately, both platforms won't let you down. Binance became the #1 exchange in the world for a good reason, after all.

Both platforms offer truly world-class interfaces for trading execution, regardless of the type of trader. One notable limitation, which is common among crypto exchanges, is a lack of advanced risk management tools and options to do things like split stop losses and take profit levels, etc. To perform those types of actions, you’ll need an account on a platform like CryptoHopper or 3Commas to integrate with your Binance exchange.

So, how do the UIs of Binance and Binance US stack up?

Let's start with Binance. The Binance UI is well-laid out and intuitive. In fact, it is so efficient that you may notice a dozen or so off-shore exchanges that simply copied the Binance layout for their own platform design. They say that plagiarism is the highest form of flattery.

Being a Binance user myself for many years, I will admit that the international platform is incredibly cluttered and feels overwhelming, even for someone who uses it as their main exchange. I also find it very easy to get lost in the menus and it can take forever to find the feature I am looking for. This is mostly an issue when I am trying to go through trading or deposit/withdrawal history.

After speaking to multiple Binance users, it seems it is quite rare for anyone to regularly access even half the products and features on offer. To show you what I mean, here is a look at just some of the busy drop down menus showing just a fraction of what is available.

I can't say this is the fault of the platform though. It simply isn't possible to offer every product and feature under the sun without having a massively robust and comprehensive platform. Still, with all that being said, Binance is about as user-friendly as it can be, though new users may be overwhelmed.

The US platform is easier to get your head around, simply because there is far less going on. It was designed with simplicity in mind, and it's easy to navigate. The home page provides a quick overview of the current market trends, and the trading page is clearly laid out and easy to find.

Turning our attention to the trading interfaces themselves, there is no difference between the two. Both platforms have the option to switch between an original chart, depth chart, and the industry-leading TradingView, which makes Binance suitable for even the most hardcore technical analysis traders.

The interface is also customizable, so you can set it up to suit your trading style.

Trading fees on Binance vs Binance US

Both exchanges operate on a maker/taker fee structure with fees depending on tier level, which is determined by a user's 30-day trading volume.

Both platforms have a massive flex over most of the competitors after they sent shockwaves throughout the industry in 2022, declaring that they were removing trading fees on Bitcoin trading pairs, and later, Ethereum. There is nothing better than zero-fee trading!

Turning our attention to the US platform first, tier 1 trades start with a 0.4% taker and 0.6% maker fee for traders with less than $10,000 trading volume within a 30-day period.

Here is a look at the Binance US fee structure:

Using the “Instant Buy/Sell” feature on Binance US will also come with a 0.5% fee.

Turning our focus to the international platform, you will see a similar fee structure:

The highest fees any trader will pay on Binance is 0.1% maker and 0.1% taker, while the lowest is 0.015% maker and 0.03% taker.

Binance also charges the 0.5% to use the “instant trade” feature, so it is a great idea to get familiar with the trading interface on any crypto exchange. Even if you are just hitting the “buy” and “sell” buttons, it will save you money in the long run to stack more sats 🤓

Pro Tip❗️ You can further reduce your trading fees by an additional 25% if you choose to pay your fees in the native BNB token on both platforms. International users can also lower their fees by another 20% by using our Binance Sign-up link!

If you are new to the world of trading, our technical analysis guide can help you learn the ins and outs of the trading interface. Guy also has a great three-part series, you can find part one below.

Fees for Deposits and Withdrawals on Binance vs. Binance US

The fees for deposits and withdrawals on each platform vary greatly depending on the specific deposit or withdrawal method used, as well as the currency being deposited or withdrawn.

One great thing about both platforms is that there are plenty of options for zero-fee deposits and withdrawals, mostly when it comes to wire deposits, ACH, and bank transfers. A notable exclusion from the US platform is that there is no credit card funding option.

Binance US doesn't charge fees for depositing crypto, but variable withdrawal fees are charged depending on the crypto asset being withdrawn. You can find this info on the Binance US Withdrawal Fees page.

Binance US fees are fairly easy to decipher, as it only deals with the United States Dollar, here is the breakdown for deposit and withdrawal fees

As Binance is a global exchange, they process over 50 different fiat currencies with hundreds of different fiat and withdrawal methods available, all ranging drastically in fees and limits. There are too many to list in this article, but I'll direct you towards the Binance fees page where you can find a full breakdown.

Binance does not charge fees for crypto deposits, but again, crypto withdrawal fees vary significantly, that information is also included in the link above.

Pro Tip❗ This goes for most exchanges, depositing fiat with a debit card is often the most convenient but can come with hefty fees. (3.75% on Binance US). Always try to use the lower fee, or free bank transfer/wire transfer methods if possible.

Liquidity and Volume Comparison

Both exchanges have ample volume and liquidity for retail and professional traders. The international platform has over 5x the trading volume seen by the #2 exchange, as this is the platform of choice for many institutions and whales.

To “nerd out” and look at some stats, at the time of writing:

• Binance's 24hr spot trading volume is $23,611,054,571, with CoinMarketCap giving it a liquidity score of 902 out of 1000.
• Binance US's 24hr trading volume is $411,638,585 with a liquidity score of 633 out of 1000

Both platforms offer OTC trading as well.

Customer Support Comparison

After years of personal experience dealing with Binance customer support, and testing the support for the top 20 crypto exchanges, I can honestly say that Binance provides one of the better experiences when it comes to customer service.

It wasn’t always good though, to be honest, poor customer support is a pretty common theme among crypto exchanges and Binance used to be no exception. But since 2020, they've clearly invested a lot of time, money, and effort into improving the quality of their support, and it shows.

Using the live chat feature, most inquiries are addressed in under ten minutes, and there is also email and ticket support if live chat isn't your thing.

The support on the international platform doesn't quite match up to the impressive support provided by the likes of Kraken or Swissborg, but it is still pretty darn good.

Unfortunately, Binance US's support could be better. I tested it out extensively for our Binance US review and found I had to wait hours, even over 24h for a response, with the best response time coming in at 45 minutes. Room for improvement here.

Though playing devil's advocate, the international platform has far more resources to bolster its service team, and because its support team is located in multiple different time zones, there is always someone on hand.

Contrast this to the US platform, which has a smaller team, based in fewer time zones, and the quality of support for the US team is likely higher as they need to know at least some basics about US compliance-related issues. I would imagine the US service team requires more training and are held to a higher standard, so perhaps I am being too hard on them.

Which Cryptocurrencies Are Available on Each Exchange?

Binance and Binance US both offer a wide range of supported cryptocurrencies, with the international platform boasting more asset support.

On Binance, users can trade a range of major coins such as Bitcoin, Ethereum, Litecoin, and Ripple, as well as a variety of altcoins like Polkadot, Cardano, NEAR, Avalanche, etc.

• Binance supports over 350 cryptocurrencies

The international site is also a good place to pick up privacy coins such as Zcash and Monero, as well as Dash, which is arguable as to whether or not it is a privacy coin. Of course, doggie meme coins like Doge and Shiba Inu are also available on Binance.

On Binance US, the selection of supported coins is more limited, with major coins such as Bitcoin and Ethereum still being offered, and a healthy list of altcoins and stablecoins.

• Binance US supports over 140 cryptocurrencies

Binance US has a comparable coin offering to its largest US competitors. It's worth highlighting again here that the international platform offers futures trading, leveraged tokens, and margin trading, which the US platform does not.

What Types of Products Are Available on Binance and Binance US?

While we can't go into full detail on all the different platform products available in this article, as we do that in our dedicated Binance and Binance US review, I'll go over the core products.

The Binance Launchpad and Earn are two very popular attractors to the international exchange. The Launchpad features crypto projects early in their development that investors can invest in early and pick up tokens at steep discounts, and Earn offers dozens of ways for users to earn passive APY on hundreds of assets.

There is also crypto lending available, dual investments, and other ways for users to earn APY. Another popular product is the Binance crypto card, which provides users with BNB cashback, and Binance Savings, all of which are not available on the US counterpart.

On the US platform, aside from accessing the trading interface, users can take advantage staking, Binance Convert, and peer-to-peer trading.

Binance US is probably the best US exchange for staking as it supports staking on 23 different assets with APYs up to 15%.

Security and Safety — Which One Is Better?

Ah, the ever-important question of Binance security and crypto safety, a topic on the forefront of everyone's minds after the FTX, BlockFi and Celsius collapse.

Fortunately, both Binance and Binance US take security seriously and are regarded as two of the most secure exchanges in the industry. Not just by myself, but by Certified, an independent exchange security auditor that placed the two platforms at #5 and #6 respectively.

On Binance US, users can feel secure with the following security measures:

• Strong password requirement
• Biometrics on smartphones
• 2FA via SMS or Google Authenticator
• Whitelist crypto withdrawal addresses
• View device login history

Binance US has never had a known security breach and adheres to the following security best practices:

• The majority of funds are safely stored in offline, cold storage facilities.
• 24/7 real-time platform monitoring for suspicious account activity.
• Multisignature and threshold signature schemes (TTS) help ensure the safety and integrity of user funds.
• Advanced data encryption.

It is also good to note that all US dollars held on Binance US are kept in FDIC-insured bank accounts, which insures funds against bank collapse up to $250,000. This only covers fiat, not crypto.

The international platform sets a significant portion of funds aside, known as the SAFU fund, which acts as insurance to reimburse customers in the event of a successful hack resulting in stolen funds. This fund was utilized in 2019 when the international platform was hacked and $40m was stolen. It is unclear if this SAFU fund extends to Binance US customers.

Unfortunate hack aside, Binance is known for its robust security protocols and comprehensive approach to security.

Users on Binance can implement the following security measures to protect their crypto:

• Login and withdrawal passwords
• 2FA/U2F
• Anti-phishing email code
• Biometrics on mobile devices
• 24-hour lock timer
• IP address whitelisting
• Withdrawal address whitelisting

Binance has substantially increased its security protocols and there have been no issues since. Along with round-the-clock platform monitoring and comprehensive cold storage and private key protection policies, Binance users are generally quite confident in the site's security.

Binance vs Binance US Review: Conclusion

And there you have it, folks, I hope you found this Binance vs Binance US review helpful, and this gave you a pretty good idea about which one is best for you.

While it is unfortunate that US-based users cannot enjoy the full product and trading suite offered by Binance, Binance US still provides an excellent platform for traders. I feel that Binance US is one of the best platforms for US-based users thanks to their incredibly low fees, decent range of assets supported, and advanced trading features.

👉 Sign up for Binance US and enjoy industry-leading trading and low fees!

For anyone located outside of the US, Binance is the #1 exchange for a good reason. Even if you don't stick with it as your exchange of choice forever, it is still worth signing up and testing it for yourself. I think you will be impressed.

👉 Sign Up for Binance for a 20% discount on the world’s most popular exchange!