Are binance and binance us the same

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  • How to Withdraw from Binance
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  • How to Transfer from Coinbase to Binance
  • How Does Cryptocurrency Gain Value?
  • How to Read Crypto Charts

Conclusion

The choice of Binance vs Binance.US is quite a simple one. Binance.US is for residents and citizens of the United States. It is one of the largest crypto exchanges in the U.S. by trading volume. To comply with U.S. regulations, not all the functions of the international Binance exchange are available on Binance.US. However, the fees are equally low, and the liquidity is more than enough for most users.

Are binance and binance us the same

Zhao’s professional experience before that point was in the development of advanced financial software, such as high-frequency trading software. He also served in an executive position at another cryptocurrency exchange, OKCoin.

Since 2017 Binance has grown quickly to reach its current position.
However, the rise of this crypto giant was not smooth. In the quickly changing environment of cryptocurrency, government regulations are often several years behind the cutting edge.
This was the case for Binance, which came into repeated conflict with government regulations of multiple countries in the years after it was founded, including, eventually, the United States. Originally founded in China, Binance has since moved its headquarters several times.

Binance relocated from China to Japan and Taiwan, then eventually Malta.

Rather, Binance.US has a fee structure that charges different amounts based on different conditions.

Binance.US Fees Explained

Binance.US fees are divided into two categories: trading fees as well as deposit and withdrawal fees. Deposit fees are the charges for bringing fiat currency or crypto from outside the exchange onto Binance.US to trade with.


Withdrawal fees are charged when you want to take your money off Binance.US (withdraw it from Binance.US) into a bank account or a crypto wallet.

Trading fees are the charges for actually using the Biannce.US exchange day-to-day for buying and selling crypto. You are charged per transaction. That is, you pay a fee each time you exchange one cryptocurrency for another.

Are binance and binance us the sameah

However, although residents have already been able to access its trading platform, the measure would represent the first formal entry into the US market by Binance.

During a statement, Changpeng Zhao, CEO De Binance, said he was very happy to start working on the platform of Binance US, in order to provide the security, speed, and liquidity that characterizes the exchange in its participation throughout all regions to North America.

On this occasion, Zhao stated:

“Binance US will be directed by our local partner BAM and will serve the US market in full compliance with the standards.”

This new Binance platform for the United States will be developed in a competitive environment with Coinbase, Geminis, and Kraken, all other things being equal.

Are binance and binance us the samed

Consult the Binance.US website for more information.

Read More

  • How to Make Money with Cryptocurrency
  • How to Withdraw from Binance
  • How to Transfer From Coinbase to Coinbase Pro
  • How to Transfer from Coinbase to Binance
  • How Does Cryptocurrency Gain Value?
  • How to Read Crypto Charts

Conclusion

Binance.US fees are not a simple one-size-fits-all number. Rather the exact amount you will be charged depends on many different factors.
When it comes to day-to-day usage, the more you trade on Binance.US, the lower the percentage fee you pay. You can also save on fees by referring friends to the platform.
The fees charged for deposits and withdrawals depend on the asset you have.

Are binance and binance us the samee

The two exchanges also share many key software resources, technology, and other intellectual property that Binance.US licenses from Binance.

Binance.US was founded in 2019 in response to regulations that impacted Binance’s business in the United States. U.S. regulators believed that some of the services offered on Binance’s trading platform failed to comply with federal financial regulations.

Binance.US was a way for Binance to benefit from the very large U.S.
crypto trading and exchange market without changing its international platform. U.S.-specific changes to Binance would have affected its business in other countries.

Binance.US has many similarities to its international counterpart. One of these is fees.

In the long Twitter thread, Shetty reminds the largest cryptocurrency exchange in the world to not “confuse Zanmai and WazirX.” However, the Binance CEO emphasizes the fact that it only provides wallet services to WazirX.

Binance provides wallet services to WazirX. WazirX domain is transferred to our control. We were given a shared access to an AWS account.

We could shut down WazirX. But we can’t, because…It hurts users.”

Soon enough Shetty countered the claims made by Zhao using his own statements. The WazirX CEO took Zhao’s statement “we could shut down WazirX” as an indication of Binance’s control over the exchange.

Zhao was not in the mood to back out either. He lashed out at Shetty in a counter-tweet for “playing deception wording games.”

People playing deception wording games. We can shut down the domain. It just hurts users.

SEC. This means that each and every one of the transactions carried out within the exchange will be monitored and under the jurisdiction of the US entity, which could subject the company to an investigation in case of irregularities. Like the rest of the digital assets, BNC could also be a tradable value for the legislature in charge.

By creating a platform that can follow a set of rules imposed by the competent area in the United States, Binance will be able to provide its services in the highly valued American market and, although its scope may be limited, it will not have to face the authorities nor risk more than they can earn.

The decision of Binance to launch this platform in this opportunity can be seen as a curious fact since the United States has had strict regulations for cryptocurrencies for months ago.

WazirX which is already under scrutiny. However, Nischal Shetty was not ready to be sangfroid. He went ahead to dispute the claims made by the Binance CEO on Twitter and soon it turned to a war of words between Zhao and Shetty, with neither ready to back out.

Let us take a look at the tweets.

1/ FACTS about WazirX & Binance:

WazirX was acquired by Binance

Zanmai Labs is an India entity owned by me & my co-founders

Zanmai Labs has license frm Binance to operate INR-Crypto pairs in WazirX

Binance operates crypto to crypto pairs, processes crypto withdrawal…

— Nischal (Shardeum) ⚡️ (@NischalShetty) August 5, 2022

It hurts users.

Binance does NOT have control on operations including “user sign-up, KYC, trading and initiating withdrawals”, as stated earlier.

Naturally, this means that the Binance international exchange has a very large liquidity pool. As the world leader in centralized exchanges, Binance also has a world-leading liquidity pool.

In May of 2021, the crypto exchange recorded a spot trading volume of $1.5 trillion.

On the other hand, Binance.US only has U.S. customers. The size of its liquidity pool is limited to the number of U.S.-based traders.

However, operating in one of the largest crypto markets in the world, Binance.US still has a large enough liquidity pool to satisfy the needs of any small-scale trader. In April 2021, the trading volume on Binance.US was more than $28 billion.

Binance.US has a much smaller liquidity pool than Binance, but it is enough for all but the very largest traders.

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