Binance isn't available in the United States. Instead, crypto investors based in the US need to turn to Binance US, the sister company to Binance.But what is the difference between Binance and Binance US? And does Binance US offer the same features and advantages as Binance?
Binance US vs. Binance
Binance lists over 500 cryptocurrencies and even more trading pairs. Meanwhile Binance US has over 125 cryptocurrencies on offer. This is one of the most significant differences between them.
The US exchange has a lower trading volume compared to the Global exchange. Binance is closing in on 30 million users. However, we can't find any user numbers for the US exchange, but it is significantly lower.
Trading fees
Both exchanges offer the same low trading fees. The fee structure works with tiers. The more you trade, the lower your trading fee will be. Both exchanges start off with a 0.1% fee for both makers and takers. To reach a lower tier, Binance requires you to trade $1 million in 30 days.
Binance US offers free Bitcoin trading in the US, but no other exchanges do it in US. Furthermore, if you use the BNB token to pay for transaction fees, you receive a 25% discount. Both exchanges offer this service.
You will get free trades on US exchange if you trade over $20 million in 30 days. The global exchange has no free trading at all. They have a minimum charge of 0.02%.
Other Services
Binance offers margin trading, futures, to staking, and lending. The US exchange doesn't offer margin or future trading, or lending. However, they offer staking for seven coins.
Both exchanges have an advanced trading option. This includes charting functions, that you can do some technical analysis.
Binance US doesn't offer a credit card service. The US exchange offers a tax portal. This helps you with reporting capital gains on your taxes.
Security
Before you can start trading, you must complete the KYC procedure on both exchanges. Two-factor, 2FA, authentication is also on offer. In this way, logging in requires an additional step. So, security is increased as a result.
Additionally, Binance has a lot of security-related information. They don't mention how much is in cold storage or how much is available online, though. However, there is absolutely no such information available in the US version. We assume they have a similar set-up, but we can't confirm this.
Conclusion
Both exchanges are recognized for having low fees. There are several significant differences between them, though. Binance is for sure the bigger brother, it's the biggest exchange in the world at the moment. Binance US serves a US audience after Binance withdrew from the US in 2019 after regulatory issues. It's a serious contender to consider when living in the US. They keep working on improving their service and their US presence.
