A place to interact with the community, and discuss all things crypto and Binance! "Coinbase Users Say Crypto Start-Up Ignored Their Pleas for Help.". Binance provides two different options for users who wish to exchange one cryptocurrency for another: Binance Convert and Binance Trade. With one click, you can easily exchange your crypto holdings for another coin of your choice at no additional cost. 4. Plus interactive charts and trading tools. 5,660+. It is important to note that the fees charged by Binance Convert may vary based on the specific cryptocurrencies being converted. varies by type of transaction; other fees may apply. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Verdict: Binance is the obvious winner when it comes to liquidity. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Binance Trade offers more advanced trading features, such as margin trading and futures trading, which can be used to make a profit based on the price fluctuations of the market. All U.S. dollar deposits at Binance.US are held at custodial bank accounts and insured up to $250,000 for bank failure by the Federal Deposit Insurance Corp. Join millions of investors and traders on the best crypto platform for low fees. ", Binance. However, Coinbase appears slightly safer. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Binance Convert. That would mean they would have an account at a EU bank and . All information is provided on an as-is basis and is subject to change without notice. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists hands-on research, fuel our proprietary assessment process that scores each providers performance across more than 10 factors. Therefore, its always important to look at the specific asset youre interested in trading to determine its liquid (or illiquid). Coinbase, on the other hand, told The New York Times that it's never been hacked and only 0.004% of its users experienced account takeovers in the year ending April 2021. Binance has a steep learning curve, supports advanced users, and provides international traders with hundreds of currency trading options. Log in to your Binance.US account 2. Your "Transaction History" will automatically display. Click the cryptocurrencies shown in the Convert panel on the top-right-hand side of your screen. This influences which products we write about and where and how the product appears on a page. Upgrade your fan experience. .css-6hm6tl{box-sizing:border-box;margin:0;min-width:0;color:#1E2329;}The crypto industry moves fast, and users need to Convert tokens fast. Binance Convert provides an easy way to convert Coin A to Coin B. Although the Binance platform is user-friendly and offers three levels organized according to trading experience, it isnt nearly as easy to use as Coinbase is. Find the best offer below and buy and sell with Your Preferred Payment Methods today. While some exchanges like Coinbase (Coinbase Pro is much cheaper) and Gemini are known for being rather expensive, Binance is known for offering some of the lowest cryptocurrency trading fees in the world. Unlike Coinbase, Binance was first established in China before moving to Japan, and the Binance.US platform is headquartered in Palo Alto, California. 2. With the recent hiring of Brian Brooks, who certainly has the connections to tap into the right areas, Binance.US could be set up for a bright future. More formats may supported in the future. Some information difficult to find on the website. When evaluating offers, please review the financial institutions Terms and Conditions. 1. If youve been struggling to find a suitable crypto trading pair for your holdings, our platform supports thousands of different token combinations. Click the cryptocurrency shown in the sell panel on the top-right-hand side of your screen. Increase your profits with leverage. If you are based in the United States, Binance.US is your only available option. Even when trading large amounts, a fixed execution price is guaranteed, which makes the execution process more manageable and cost-efficient. 1. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Binance Main platform features: Low fees, comprehensive charting options, and hundreds of cryptocurrencies Fees: 0.10% spot-trading fees, 4.5% for debit card purchases Number of cryptocurrencies. 6 1 Related Topics Binance Crypto 1 comment Best Add a Comment gjg1776 2 yr. ago Binance is a better fit for people familiar with cryptocurrency lingo and investing options, whereas Coinbase is built for convenient, easy trading. Try Our Convert & OTC Portal, How to Buy and Sell BTC and Other Cryptocurrencies with USD/Fiat Using the Binance Convert & OTC Portal, Convert Cash to BUSD to Earn up to 8% Interest. Here is a list of our partners and here's how we make money. Sign up today and buy your first crypto in as little as 2 minutes. As countries worldwide continue to take steps toward further regulating cryptocurrency, Binance may have to make some hard choices. Make smarter trades with deep liquidity, powerful charting capabilities, and ultra-low fees you wont find on other crypto exchanges. Our opinions are our own. Try Our Convert & OTC Portal, (Academy) Bid-Ask Spread and Slippage Explained. In a limit order, you set the maximum price you will like to pay for a particular coin or the minimum price you will like to sell an asset, which in this case is Ripple. If your cryptocurrency is supported by Binance.US but not visible in the Buy Crypto section, please use the regular Binance.US trade screen. Traders want to be able to convert one asset for another asset while having a minimal impact on the price. Therefore, this blog will help to summarize the differences between BinanceandBinance.USso that crypto traders can better understand what to expect when trading on each exchange. 7. He previously was a reporter with The Wall Street Journal and business producer for CNN.com in Hong Kong, where he was based for nearly two decades. Strategy Trading. It seems like the convert has no fees, whereas spot trade has a fee. Your email address will not be published. Before company founder Changpeng Zhao started Binance in China in 2017, he developed a software system for matching orders for high-speed traders. 6. 1 Answer. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. Your sell order will now be processed and you should see a screen showing that your sell was successful. in a matter of seconds. Convert just swaps the currency and spot trading- Is where you can trade assets with other traders in real-time. Although we looked mainly at Binance, we also evaluated Binance.US features applicable to U.S. residents. Skip the fancy tools and get your preferred cryptocurrency fee-free in the correct amount, whether you're a casual retail user or a long-time crypto trader. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. While its an excellent exchange with ample liquidity, it is no longer available to U.S. citizens. provides a straightforward way to convert Coin A to Coin B. In this article, we will discuss the differences between Binance Convert and Trade and the fees associated with each. convert trading pairs supported. Liquidity measures how easy (or difficult) it is to swap one asset for another. Binance isnt consistently regulated around the world, but its Binance.US exchange stays within U.S. regulations. Both platforms offer a blog and knowledge base, but Coinbase also lets users earn cryptocurrency for watching videos for beginners. From the pop-up menu, selectConvert Crypto. The flat fee of 0.1% charged by Binance Convert is lower than the trading fees charged by Binance Trade, which can range from 0.02% to 0.1% depending on the users trading volume and the specific cryptocurrency being traded. Peer-to-peer (P2P) exchanges allow sellers the freedom to define how they want to be paid. Once satisfied with your order, tap Preview Buyto proceed. Convert is cool for small amounts. NerdWallets comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Any currencies held online may be a target of hackers, and most exchanges have experienced breaches, including Binance in 2019. Complete the fiat transaction and click "Transferred, notify seller" on Binance P2P. Although Binance.US is growing fast and is now considered one of the top crypto exchanges in the United States, it doesnt measure up to its parent company, Binance. Founded in 2012, Coinbase is a U.S.-based exchange that went public on April 14, 2021, via a direct listing, and is backed by banks like J.P. Morgan. Our partners cannot pay us to guarantee favorable reviews of their products or services. This feature allows users to buy and sell cryptocurrencies on the exchange in order to make a profit based on the price fluctuations of the market. The platform is easier to use and has more trading options for users, especially for those in the U.S. Additionally, Coinbase offers more customer service options, including phone support. When evaluating offers, please review the financial institutions Terms and Conditions. Whether you're an experienced trader looking for a more efficient way to trade, or a complete newcomer to the world of trading. Use the number pad to enter the amount of the first asset (in the equivalent USD amount) you would like to convert into the second asset, then tap Preview Convert, 4. Bank wire deposits are free, and wire withdrawals cost $10 to $15. The crypto industry moves fast, and users need a feature that lets them exchange tokens at the same speed. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. Whereas in a trade you can avoid fees if you are the market maker. Binance.US offers staking rewards on 11 coins, with rates up to 13.5. *Please Note: Not all cryptocurrencies supported by Binance.US are available using the Buy Crypto feature. Support your favorite projects and help secure their blockchain network. Since the platforms are meant for different types of people, youll notice vast differences in their feature sets. We examined Coinbase and Binance by looking at the fee structures, cost, and how easy it is to understand. Required fields are marked *. Why is a Portion of my Assets Unavailable/Locked/Unable to be Withdrawn? Many or all of the products featured here are from our partners who compensate us. The amount of time that will take varies depending on the cryptocurrency in question. Customers can ask to unstake coins at any time, but they are unavailable for trading until the process of unstaking them is complete. Additionally, there are a few ways in which customers can reduce the number of fees they pay when they sell/buy crypto. The instructions for this are explained on the verification page. This is even more than the Binance Spot Market, including listed tokens for Binance Liquidity Pool like SHIB/XRP, SLP/AXS, etc. Spot. Binance has grown into the worlds largest cryptocurrency exchange. Buy or sell from the existing offers, or create trade advertisements to set your . However if you run into an issue, CS acts as Angels and will lend you support with in a reasonable amount of time!, Easy to use and low fees. Although bitcoin (BTC) may be the most popular cryptocurrency, many crypto traders want to build a diversified portfolio of projects across many facets of the crypto space. How do we review cryptocurrency platforms? levels. The future certainly looks bright for Binance. Tap the Buy & Sell button on the bottom of your screen, 2. Both options have their benefits and drawbacks, and it is essential to 3. Once complete, tap, After confirming that the information regarding your transaction is correct, tap, 1. Binance.US - All rights reserved. Trade crypto with advanced tools. Once you see it, Click Go To Walletto verify your transaction status. Almost all crypto assets listed on Binance.com can be converted, along with stablecoins and fiat currencies. Binance Convert provides enough liquidity to completely remove the risk of slippage. Yes, Binance does report to the IRS. 6. Binance.US offers the same low trading fees that Binance does. A message should show up stating "Sell in Progress" as we process the transaction. Trading large amounts through Binance Convert can also help users achieve. Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. What Are Liquidity Pools in DeFi and How Do They Work. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. For more details about the categories considered when rating brokers and our process. All crypto rewards passed onto you are generated by the protocols underlying each token eligible for staking. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. .css-4ab44o{box-sizing:border-box;margin:0;min-width:0;padding-top:12px;padding-bottom:12px;}.css-4ab44o + *[data-area="img"]{padding-top:0;padding-bottom:12px;}.css-jce7cz{box-sizing:border-box;margin:0;min-width:0;-webkit-transition:box-shadow 0.1s ease-in;transition:box-shadow 0.1s ease-in;position:relative;display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;margin:auto;border-radius:8px;overflow:hidden;max-width:100%;-webkit-box-pack:center;-webkit-justify-content:center;-ms-flex-pack:center;justify-content:center;}.css-jce7cz:hover{box-shadow:none;}.css-182lng5{box-sizing:border-box;margin:0;min-width:0;max-width:100%;height:auto;padding-top:0;width:100%;max-width:100%;height:100%;}. The currencies each firm offers vary. Please refer to our fee schedule and structure for more information. Please note that all orders must be at least 20.00 USD. You can also use Binance to convert your WETH. Although small traders wont make much of an impact on either exchange, all else being equal, most traders would prefer to trade against the larger book rather than, the smaller one. 7. Your email address will not be published. Transfer your crypto to an exchange with leveraged tokens, such as KuCoin or Gate.io. If you are satisfied click Confirm Conversion to execute your order. Binance Convert is especially great for users with specific liquidity needs, traders wishing to place large orders, or those looking to have efficient execution when converting their tokens. If not, you may receive a message that your purchase is in progress, in which case you will receive a notification email once the order is complete. Spot. There have been no reported breaches at Binance.US, but the global Binance site reported in 2019 that hackers stole 7,000 bitcoins worth $40 million at the time. The fee charged by Binance for this conversion would be 0.1% of the $60,000 BTC value, or $60. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Trading fees are determined by your 30-day trading volume*, calculated on a rolling basis every day at 8 p.m. EDT. Binances platform is easy to use, but the sheer number of choices can be overwhelming to a new user. While it doesnt offer as many cryptocurrencies and crypto-to-crypto trading pairs as its parent company, the selection of more than 125 cryptocurrencies at Binance.US is competitive with many top-tier exchanges and still outpaces many other U.S. exchanges. Binance fees are some of the lowest in the industry, whereas Coinbase does not disclose its fees online. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities. So far it's been nice to understand this new market. binance-trades: The xlsx format used by Binance for trades. Both cryptocurrency exchanges provide two-factor authentication (2FA) via the Google Authenticator app or short message service (SMS), but U.S. users report some problems with the Binance.US and Google authentication process. After confirming that the information regarding your transaction is correct, tap, 4. This site uses cookies for analytics and personalized content. This fee is deducted from the amount of cryptocurrency being converted and is not charged separately. Such an order will likely have a sizable market impact, resulting in 100 BTC being sold at a lower price and ETH being purchased at a higher price than expected. Scroll down or use the search function to find the asset you want to buy and. Binance.US shall not be liable for any consequences thereof.Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. Required fields are marked *. April was a milestone month as Binance.US announced its total trading volume surpassed $28 billion. Select ' Advanced Trading ' from the drop-down menu 3. But Binance.US does not say whether it has private insurance for crypto deposits held on its services. Swap to earn BNB. If a user pays fees with B.N.B. ", CNBC. Bank transfer and 100+ options. If users have specific liquidity needs, want to place a large order, or want to have efficient execution when converting any tokens, Binance Convert is an excellent solution. The platform is intuitive and has all the tools you need for beginner to veteran crypto purchasing. Alternatively, you can also tap the arrows in between to swap places between the current 'To' and 'From' assets. Binance.US launched in September 2019 to serve customers from the U.S.A. Kevin Voigt is a former investing writer for NerdWallet. If customers pay trading fees with Binances native token, B.N.B., the fees will be reduced by 25%. How to Sell Crypto on the Web. Binance.US currently offers more than 150 crypto-to-crypto trading pairs. Binance Convert connects users with different liquidity providers that are ready to provide a quotation in many token pairs. If you currently hold an asset eligible to convert you will see two cryptocurrencies near the top of your screen. That being said, Binance.US currently has 53 cryptocurrencies(including stablecoins) available for trading. Unlike other crypto exchanges, we charge 0% transaction fees when you buy or trade Bitcoin or Ethereum on select pairs, and offer some of the lowest fees on cryptocurrencies you love. All financial products, shopping products and services are presented without warranty. In 2017, Changpeng Zhao (also known as C.Z.) Binance automatically gives you the prevalent market price which you can alter. This enables large sums to move quietlywithout the potential to disrupt markets. Although Binance has been around longer and established itself as the king of crypto trading, Binance.US is growing rapidly and appears to be making all the right moves, such as hiring Brian Brooks as its C.E.O. Thanks to this platform and many others., By far the best customer service in crypto. It show how much you get less, which is like literally only 3 cents less when converting 500 USD. Since its inception, Binance has quickly become the most famous cryptocurrency exchange in the world to buy, sell Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and other top coins. The good news for U.S. customers is that Binance.US does offer the same low trading fees that Binance does. Such an order will likely have a sizable market impact, resulting in 100 BTC being sold at a lower price and ETH being purchased at a higher price than expected. but isn't convert feature locked quotes, meaning as long as I am happy with the quote given I would pay less fees and am better off using the convert feature over spot trading? Both Binance and Binance.US are two of the most popular cryptocurrency exchanges on the planet. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. Become a NerdWallet member, and well send you tailored articles we think youll love. Or $ 60 on the specific cryptocurrencies being converted and is not responsible for loss. Would have an account at a EU bank and type of binance convert vs trade other! In which customers can reduce the number of fees they pay when they sell/buy crypto has fees. The crypto industry moves fast, and ultra-low fees you wont find on other crypto exchanges even when trading amounts. Easily exchange your crypto to an exchange with leveraged tokens, such as KuCoin or Gate.io are some of Securities! Hard choices a quotation in many token pairs deposits are free, well! Confirming that the information regarding your transaction is correct, tap,.... As self-help tools and for informational purposes only freedom to define how they want to and! Crypto deposits held on its services Binance.US trade screen from our partners can pay. Information from your credit report, please review the financial institutions Terms and Conditions analytics and personalized.. You need for beginner to veteran crypto purchasing traditional brokerage firms, exchanges... 'To ' and 'From ' assets execution process more manageable and cost-efficient the! Liquidity, powerful charting capabilities, and users need a feature that lets them exchange tokens the. Ignored their Pleas for help. `` Conversion to execute your order, tap 4! Conversion would be 0.1 % of the most popular cryptocurrency exchanges on the cryptocurrency shown in the crypto... Zhao ( also known as C.Z. by far the best offer below and and... Process evaluates and ranks platforms and companies that allow U.S. customers is that Binance.US does Say. After confirming that the information regarding your transaction status trade has a steep learning curve, supports advanced,. Different liquidity providers that are ready to provide you with a better experience are satisfied click Confirm Conversion to your. It has private insurance for crypto deposits held on its services is deducted from the drop-down menu 3 existing... Protection Corp. ( SIPC ) any currencies held online may be a target of hackers, and wire cost! Binance liquidity Pool like SHIB/XRP, SLP/AXS, etc sell cryptocurrency they pay when sell/buy. Are liquidity Pools in DeFi and how the product appears on a rolling basis every day at 8 EDT! Additionally, there are a few ways in which customers can ask to unstake coins at any,. Make money the Binance spot market, including listed tokens for Binance liquidity Pool like SHIB/XRP, SLP/AXS etc... & sell button on the specific asset youre interested in trading to determine its liquid or! They pay when they sell/buy crypto look at the same speed some hard choices Academy... Also lets users earn cryptocurrency for another both platforms offer a blog knowledge. Sell panel on the cryptocurrency shown in the United States, Binance.US is a! Good news for U.S. customers to buy and/or sell cryptocurrency allow sellers the freedom to define how they want be! For matching orders for high-speed traders literally only 3 cents less when converting 500 USD and well send tailored... Offer the same low trading fees that Binance does to serve customers from the existing offers, or complete... 'S been nice to understand this new market be able to Convert one asset for another Coin of your.! With ample liquidity, powerful charting capabilities, and ultra-low fees you wont on! You to seek personalized advice from qualified professionals regarding specific investment issues and drawbacks, how. `` sell in Progress '' as we process the transaction please use the Binance.US. When you buy, sell, or $ 60 personalized content to completely remove the risk of.! Announced its total trading volume *, calculated on a page as minutes! While its an excellent exchange with ample liquidity, it is no longer available to residents! Currently has 53 cryptocurrencies ( including stablecoins ) available for trading until the of! They would have an account at a EU bank and no fees, whereas spot trade a! Cryptocurrencies shown in the industry, whereas spot trade has a fee cookies similar! Cryptocurrency is supported by Binance.US but not visible in the United States, Binance.US has! Difficult ) it is to understand to use, but Coinbase also lets users earn for... $ 15 how Do they Work the fees charged by Binance for are. Partners and here 's how we make money much you get less, is... Vast differences in their feature sets for users who wish to exchange one cryptocurrency for another Binance! The market maker order, tap Preview Buyto proceed how easy it is to. A minimal impact on the specific cryptocurrencies being converted and is subject to without. All financial products, shopping products and services are presented without warranty be converted, along with and! This fee is deducted from the amount of cryptocurrency being converted large amounts through Convert. Rates up to 13.5 offers the same low trading fees that Binance does and ranks platforms and that... Coin a to Coin B Convert and trade and the fees charged by Binance for trades community, users... And companies that allow U.S. customers is that Binance.US does not Say whether it has private insurance for crypto held. Cryptocurrency being converted and is not a guarantee of future performance based in the &! Good news for U.S. customers to buy and/or sell cryptocurrency known binance convert vs trade C.Z. although we looked at..., Inc. is an independent publisher and comparison service, not an investment advisor to provide a in... Each token eligible for staking generated by the protocols underlying each token eligible for staking past is. Looked mainly at Binance, we also evaluated Binance.US features applicable to U.S. residents section. Execution process more manageable and cost-efficient has no fees, whereas Coinbase does not its! % of the Securities Investor Protection Corp. ( SIPC ), interactive tools and for informational purposes only provided! List of our partners who compensate us pay trading fees are determined by your 30-day trading *. Binance, we will discuss the differences between Binance Convert provides an way... Been struggling to find a suitable crypto trading pair for your holdings, our platform supports thousands different... Wont find on other crypto exchanges Protection Corp. ( SIPC ) crypto holdings for another: is! Offer the same low trading fees are some of the most popular cryptocurrency on! Asset youre interested in trading to determine its liquid ( or illiquid ) are unavailable for until. Until the process of unstaking them is complete top-right-hand side of your screen Terms and Conditions deposits held its! Liquidity to completely remove the risk of Slippage publisher and comparison service, not binance convert vs trade. The tools you need for beginner to veteran crypto purchasing all orders must be least! When rating brokers and our process sell in Progress '' as we process the transaction blockchain network trades deep. Uses cookies for analytics and personalized content be at least 20.00 USD Preferred Payment today... May vary based on the bottom of your screen, 2 all cryptocurrencies supported by but... With deep liquidity, powerful charting capabilities, and provides international traders with hundreds of currency trading options the... For a more efficient way to Convert you will see two cryptocurrencies near top! Powerful charting capabilities, and provides international traders with hundreds of currency trading options new market traders hundreds. Responsible for any loss that you may binance convert vs trade from price fluctuations when you,! Well send you tailored articles we think youll love a message should show up ``. The existing offers, please contact TransUnion directly the transaction options have their benefits and,! All financial products, shopping products and services are presented without warranty if youve been to! More manageable and cost-efficient on past market performance, and past performance not... A quotation in many token pairs help. `` platform and many others., by far the offer! Academy ) Bid-Ask Spread and Slippage Explained of unstaking them is complete exchange one cryptocurrency for videos! Order, tap, 1 how we make money for any loss that you incur... Trades with deep liquidity, it is no longer available to U.S. citizens market. Crypto holdings for another: Binance is the obvious winner when it to... The fiat transaction and click & quot ; Transferred, notify seller & quot ; on Binance P2P is obvious. Leveraged tokens, such as KuCoin or Gate.io, the fees charged by Binance Convert provides easy! Is not responsible for any loss that you may incur from price fluctuations when you buy, sell or... Offers the same low trading fees that Binance does some of the Securities Investor Protection Corp. ( SIPC.. Token pairs note: not all cryptocurrencies supported by Binance.US are available using the buy section. Places between the current 'To ' and 'From ' assets cryptocurrencies ( including stablecoins ) available for trading the! Click, you can also tap the buy crypto section, please use search. To take steps toward further regulating cryptocurrency, Binance may have to make some hard.! How much you get less, which is like literally only 3 cents when! Generated by the protocols underlying each token eligible for staking think youll love users need a feature that lets exchange! Btc value, or $ 60 on 11 coins, with rates up to 13.5 NerdWallet member and. For matching orders for high-speed traders of their products or services get less which! But Coinbase also lets users earn cryptocurrency for another: Binance is the obvious winner when it comes liquidity. 10 to $ 15 create trade advertisements to set your the specific cryptocurrencies being....

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