TLDR
- Binance.US is back in business after 18 long months!
- US users have a plethora of features at their fingertips, and more are on the way.
- The news comes a week after the SEC and Binance decided to pause ongoing litigation amid fresh regulatory clarity.
For the first time in nearly 18 months, Binance.US — Binance’s U.S.-based affiliate — has resumed US dollar (USD) deposits and withdrawals for its customers. The update signifies a major milestone for Binance as regulatory clarity now allows the platform to reinstate services.
If you’re a crypto enthusiast, this is huge. Here’s everything you need to know about what it means and how you can take advantage of these newly reinstated USD services.
What’s Back on the Binance.US Menu?
First off, dear readers, you know how eternally optimistic the Dypto Crypto Team is about crypto. But even this one caught us by surprise. A pleasant one, but a surprise nonetheless. Let’s get after it.
Binance was forced to cease operations in the US after the deal with the SEC which also resulted in CZ stepping down as CEO and even catching 4 months in jail. However, Binance.US has now made a full comeback with its USD functionality after a pause to ongoing litigation. What does this include?
1. Deposit and Withdraw USD
You can now link your bank account in minutes and transfer cash to Binance.US —- with zero fees.
2. Buy and Sell Crypto with USD
Want to grab some Bitcoin or Ethereum? You can now use bank transfers (ACH) to buy and sell your favorite cryptocurrencies with USD in a seamless, hassle-free process.
3. Convert Between Crypto and USD
Use Binance’s “Convert” feature to instantly switch between crypto and USD, making it easier than ever to adjust your portfolio with a few simple taps.
4. Trade USD Pairs
Binance.US now supports trading for several USD pairs, including BTC/USD, ETH/USD, ADA/USD, DOGE/USD, SOL/USD, and more. With 10 pairs available at launch, additional ones are expected soon.
5. Set Recurring Buys
The new “Auto-Buy” feature lets you set up daily, weekly, bi-weekly, or monthly purchases to build your portfolio steadily over time.
Additional Features to Explore
Binance’s USD services might be grabbing the headlines, but that’s far from the full story. While checking these out, don’t miss out on the features that could improve your overall trading experience.
Stake More, Earn More: Binance.US offers staking rewards for over 20 Proof-of-Stake cryptocurrencies like ETH, SOL, and ADA. It’s an easy way to grow your holdings while supporting the blockchain network.
Convert Crypto Dust: Got those tiny, leftover balances stuck in your wallet? Turn them into something useful by combining small balances (known as “crypto dust”) into popular tokens like BNB or BTC.
Claim Your Crypto Domain: Personalize your crypto experience by securing a custom domain name (think [YourName.crypto]). It’s a cleaner and simpler way to send, request, and receive crypto directly into your Binance.US wallet.
OTC Trades and API Access: For large-scale traders, the platform provides OTC trading for transactions over $10,000 to keep whales from influencing market prices with a single trade.
Institutional Accounts: Are you making big moves on behalf of your firm? Binance.US Institutional Services caters to financial institutions, providing tools like liquidity solutions and professional-grade support for trading firms and hedge funds.
Why Does This Matter Now?
Regulatory uncertainty has always made cryptocurrency adoption tricky in the U.S. market. Fast forward to February 2024, and the regulatory environment has improved, allowing Binance.US to restore crucial banking features.
The resumed services position Binance.US as a robust, regulated player in the American crypto market that’s backed by the biggest exchange in the world. For beginner users who may be cautious about where they trust their funds, Binance.US’s commitment to compliance and transparency is a reassuring step forward.
How to Get Started (Or Restart!)
Signing up takes less than two minutes. Here’s how to get started:
- Create an Account: Head to Binance.US, sign up, and verify your identity. This is known as KYC — Know Your Customer. And it’s required for all centralized exchanges operating in the US.
- Link Your Payment Method: Add your bank account for quick and easy USD transfers.
- Explore Crypto: Start trading over 160+ cryptocurrencies or explore staking, recurring buys, and more.
Best of all? There’s no fee to fund your account or withdraw your cash — making this platform one of the most affordable options for crypto enthusiasts in the U.S.
Crypto Confidence with Binance.US
If you haven’t started investing in crypto yet, you’re walking into the game at the right time. Binance.US makes a solid case for itself. The platform aims to simplify the cryptocurrency experience while maintaining competitive fees by offering easy-to-use features for beginners.
With expanded service features, regulatory clarity, and a focus on customer security, Binance.US is probably the best user-friendly platform for traders of all levels.
This news is a welcome development. Whether you’re looking to start your crypto investments, trade your favorite coins, or stake and grow your existing assets, Binance.US now positions itself as a leading platform in the U.S. market.
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