Picking the best crypto exchange can be a complicated process. Those dead set on using margin to trade crypto may look to Kraken, which has slightly higher trading fees that similarly decrease for high-volume traders.īinance.US does not currently offer futures trading either this feature is even pending regulatory approval for Kraken in the U.S.
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regulators are currently investigating how to handle crypto margin trading, and big names like Coinbase Pro have recently ceased margin trading in the U.S. That is why it’s generally not recommended for beginner or even intermediate investors.
It’s important to note, however, that Binance.US does not currently support margin trading-a risky practice that allows traders to use borrowed money to amplify returns while similarly increasing the amount they can lose. You’ll be able to make these trades using U.S. (Keep in mind its base trading fee may be lower than competitors’ even before you hit that volume.)īinance.US provides two comprehensive market dashboards, named Simple and Advanced, with real-time market data.Īs mentioned in its Best Overall writeup, Binance.US enables multiple order types, including limit, market and stop-limit, which should cover most crypto traders’ needs, as well as over-the-counter (OTC) trading. This last one is important because frequent traders may lower trading costs by 25% when converting their investing dollars to BNB.Īs with most exchanges, Binance.US rewards high-volume crypto traders with progressively lower transaction fees, though this won’t kick in until you trade at least $50,000 of cryptocurrency within a 30-day period. That said, if you’re ready to level up and go to Pro, you’ll probably find lower fees at most other major crypto exchanges, unless you’re trading above a million monthly.Īs with its international industry-leading counterpart, Binance.US offers a still-extensive array of cryptocurrencies, from mainstays like Bitcoin and Ether to BNB, the platform’s proprietary stablecoin.
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Its confusing fee structure charges you more than it would to make the same purchase on the company’s less beginner-friendly Coinbase Pro platform, which is also free to use. (Not necessarily a bad thing for your long-term wealth.)Ĭoinbase stands out for its easy-to-use interface that makes one-time or recurring crypto investments a snap. (In fact, Coinbase Pro was a top contender for our Best Overall Cryptocurrency Exchange.)Ĭoinbase’s 100-odd tradable cryptocurrencies should satisfy most looking to break into the crypto space, like those hoping to hitch their wagons to Bitcoin and Ether, but sadly, you’ll have to go elsewhere to invest in the highly memeable Dogecoin. That’s for good reason: Coinbase Pro, the robust exchange powering Coinbase, is one of the largest and safest platforms out there.
Unfortunately Binance.US’s educational resources lag behind those offered by the original Binance’s Binance Academy as well as those from slightly more beginner-friendly exchanges, like our pick for newbies, Coinbase.Ĭoinbase, 2021’s belle of the IPO ball, is the crypto exchange you may be most familiar with if you’re just now getting interested in crypto. residents currently can access the platform: Those who live in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas and Vermont cannot hold Binance.US accounts.
New users blissfully unaware of what a candlestick graph is (much less how to read one) may feel overwhelmed and should stick with the Buy Cryptocurrency tab until they get a better lay of the land.īinance.US’s 50+ available coins may satisfy most crypto investors, but enthusiasts may miss the more than 300 cryptos this domestic version doesn’t offer.
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More advanced users, though, can take advantage of a myriad of trading order types, including limit, market and stop-limit, as well as two powerful trading dashboards chock full of important data, like spot price and 24-hour highs, lows and trading volume.
Binance.US, a domestic exchange run by global crypto powerhouse Binance, provides much of its parent company’s pros, including industry-low fees and a broad range of cryptocurrencies available to trade.įor the casual crypto fan, Binance.US offers a simple, form-based platform (under the Buy Cryptocurrency tab) designed for transactions under $10,000 that lets you pretty intuitively buy, sell and convert its tradable cryptocurrencies.
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