Best Cryptocurrency Exchange

Binance.US Review: Pros, Cons, and More

Binance.US Review: Pros, Cons, and More
Written by publisher team

What can be improved

Limited features compared to international site

The main site of Binance is a giant that contains hundreds of cryptocurrencies and all kinds of advanced trading tools. Binance. The United States pales in comparison. But in fairness, this has more to do with US regulatory guidelines than it does with the Binance.US product.

Regulatory concerns

Binance.US does not have any issues with the regulators. However, Binance has faced regulatory challenges in several countries, including Japan, the United Kingdom, Canada, Singapore, Thailand, and the United States, Bloomberg reports that there has been a US investigation into Binance by the CFTC and the Department of Justice, despite That no charges have been brought so far.

Until last year, the Binance platform seemed to prioritize user experience over regulatory concerns. However, it seems that she changed her tune – in part due to the problems she was having. Binance says it has grown its compliance team by 500% in 2021. With regulators around the world focusing on cryptocurrencies, it remains to be seen whether Binance’s new approach will suffice.

Credit card deposits are not accepted

Binance.US is not alone in not accepting credit card payments. In fact, it is not always a good idea to try to buy cryptocurrency with a credit card. You may face additional fees from your card issuer, plus you are essentially incurring debt to make a high-risk investment. However, this is a slight negative.

Not available in every US state

Binance.US is not available in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas or Vermont. Cryptocurrency traders in these countries will need to find another exchange. Check out our list of the best cryptocurrency apps and exchanges for more options.

Customer Support

Binance.US does not have a phone customer support line. It has an automated live chat function that can provide basic assistance. But users with more specific queries need to fill out a form and wait for an email response. This is a problem for many cryptocurrency exchanges, as customers want more practical help, especially if they are trying to report fraud or suspicious activity.

About the author

publisher team