As of July 21, 2023, Binance.US is a crypto-only exchange. We know navigating uncertainty can be challenging, so we’ve created this article to guide you on how to use Binance.US as a crypto-only exchange and ensure you have the best possible crypto experience.
For more information on the events that led up to this transition, click here.
Otherwise, you can read on below, or select a section to jump ahead to:
- What does Binance.US being a crypto-only exchange mean?
- Which features continue to be supported?
- Which features are no longer available?
- Using Binance.US as a crypto-to-crypto exchange
- Commonly asked questions
What does Binance.US being a crypto-to-crypto exchange mean?
On June 13, 2023, Binance.US began its transition to a crypto-only exchange, which means we no longer accept USD deposits and withdrawals for the time being — until we are able to secure stable banking partners. Binance.US completed this transition on July 21, 2023.
As a crypto-only exchange, Binance.US offers a more focused cryptocurrency trading experience with support for 150+ cryptocurrencies. You can still deposit, withdraw, convert, trade, and stake crypto, as well as continue to perform most actions you typically associate with a cryptocurrency exchange.
Which features continue to be supported?
Binance.US continues to support the following core crypto features:
- Deposits & Withdrawals - You can continue to send and receive 150+ supported cryptocurrencies to and from your Binance.US wallet. (Deposit Crypto | Withdraw Crypto | Learn More)
- Buy & Sell Crypto - At the time of writing, you can continue to buy & sell crypto using your remaining USD balance. (Buy & Sell Crypto | Learn More)
- Advanced Trade (Spot Trading) - Trading is available on 150+ cryptocurrencies across USDT, BTC, BUSD, USDC, DAI, and ETH trading pairs. Choose from market, limit, and stop-limit orders and enjoy low-fee trading, including 0% fee Bitcoin and Ethereum trading, which no other major U.S. crypto platform offers. You may also choose from the following conditional order types on the Binance.US web interface: OCO (one cancels the other), Post Only, Iceberg, and Time in Force (TIF). (Trade Crypto | Learn More)
- Convert - Convert is available between USD, 20+ cryptocurrencies, and 200+ pairs, including USD and the following stablecoins: USDT, USDC, and BUSD. Use Convert to directly and instantly trade between two cryptocurrencies, all with zero fees*. Plus, you can preview the exchange rate before you confirm the transaction. It’s a fast and convenient way to add new cryptocurrencies or rebalance your portfolio. (Convert Crypto | Learn More)
- Staking - Staking remains available for 20 cryptocurrencies, including popular assets like Ethereum (ETH), VeChain (VET), Cosmos (ATOM), and more. You can start staking your crypto in seconds and contribute to the security of blockchain networks while earning staking rewards. If the cryptocurrency you want to stake isn’t supported yet, check back soon as we continue to expand our staking offerings. (Stake Crypto | Learn More)
In addition to our core features, the following features remain available:
- Send - You can continue to send, request, and receive crypto instantly with zero fees using Pay. (Learn More)
- Convert Small Balances - You can continue to convert small balances under $20 to BNB, BTC, or ETH. (Learn More)
- Crypto Domains - Crypto Domains functionality remains available for all domains and new domain purchases can be made with USDT. (Learn More)
- OTC Trading Portal - You can continue to place over-the-counter (OTC) trades under $10,000 across supported crypto pairs. (Learn More)
Which features are no longer available?
Until we are able to secure more stable banking partners, the following services are suspended:
- USD Deposits & Withdrawals - USD deposits & withdrawals are suspended for the time being. In the meantime, we continue to pursue new partners to re-establish USD deposits & withdrawals.
- USD Advanced Trade (Spot Trading): Most USD Advanced Trading pairs were removed from our platform on June 26, 2023. Trading remains available for 150+ cryptocurrencies across a diverse selection of USDT, BUSD, BTC, USDC, DAI, and ETH pairs.
- Auto-Buy (Recurring Buys) - Recurring buy orders, also known as Auto-Buy orders, are suspended.
- Referral Program - We have temporarily suspended our Referral Program on June 8, 2023 at 8 p.m. PDT / 11 p.m. EDT. We will honor and distribute rewards in full to referred and referring customers who successfully qualified for rewards prior to the program being paused.
- Crypto Domains - Crypto Domain purchases have been temporarily suspended; however, domains functionality remains available for all previously purchased domains.
Using Binance.US as a crypto-to-crypto exchange
Getting started with Binance.US and not sure how to use a crypto-only exchange? Learn the basics so you can get started in minutes:
- Create and verify your free Binance.US account (Open Account | Learn How)
- Have crypto already? Deposit your crypto to Binance.US (Deposit Crypto | Learn How)
- Explore available trading pairs (See Trading Pairs | How to Trade)
- Do more with your crypto. Stake to earn rewards, convert between cryptocurrencies, send, request, and receive crypto, and much more (Stake Crypto | See Available Features)
Want to add crypto to your Binance.US portfolio? There are a few easy ways to expand your portfolio. Choose the one that best fits your needs:
- I’d like to buy crypto with USD - While Binance.US does not support USD services for the time being (until we onboard stable banking partners), you can open an account with a trusted platform that allows you to buy crypto with USD. Be sure to choose a platform that allows you to transfer crypto into and out of the platform. Then, simply deposit the crypto you purchased to Binance.US.
- I want to trade crypto - Binance.US offers support for a wide range of USDT trading pairs, which means you can quickly trade your USDT for any of our 150+ supported cryptocurrencies.
I'd like to convert the crypto I already own into a different one - If you have crypto in your account, you can easily convert it for another cryptocurrency using our Convert feature. Best of all, you can convert between cryptocurrencies instantly with zero fees. Binance.US collects a small spread from the transaction; spread refers to the difference between the buying and selling price of an asset. No trading fees apply to the Convert feature.
Please note that Convert only supports the following assets: USD, USDT, USDC, BNB, ETH, BTC, FET, ATOM, APT, MATIC, LTC, DOGE, SHIB, FTM, APE, SOL, LINK, ADA, DOT, GALA, XRP, ARB, and AVAX. If Convert does not support the cryptocurrency you have or want, learn how to trade here.
Commonly asked questions
- Are my funds safe on Binance.US?
Your funds are always safe and secure on Binance.US, which was established with a strong commitment to adhering to rigorous U.S. regulations and ensuring a secure and compliant trading environment. One fundamental principle we uphold is that we do not engage in lending or trading customer assets. We prioritize the safety and transparency of our users' funds and maintain 1:1 reserves for all customer funds held on the Binance.US platform.
It is important to note that we do not participate in proprietary trading or offer margin trading services. Our focus remains on providing a secure and reliable platform for users to engage in cryptocurrency trading.
While we are dedicated to upholding our customer-first commitment and keeping our platform secure, user safety and following best practices goes a long way. As always, learn how to Keep Your Crypto Secure and don’t let anyone mislead you into sharing your Binance.US account information, clicking on a suspicious link or attachment, or sending your crypto to unfamiliar wallet addresses.
- What will happen to my USD if I didn’t withdraw it from Binance.US during the transition?
Because USD withdrawals are suspended, they will be unavailable until we integrate new banking partners. During this time, your USD will remain safe in your account. In this scenario, to withdraw your USD funds, you will need to convert your USD to a stablecoin or another cryptocurrency that can be withdrawn on-chain.
- What if I still have an available USD balance in my Binance.US account?
- What will happen to my staked assets?
Your staked crypto and any other crypto assets left in your account will continue to be safe and secure on the platform.
When you stake on Binance.US, third-party service providers stake on your behalf and your funds are securely stored in offline cold storage wallets.
All staking rewards are generated solely through blockchain validation, by the protocols underlying each supported staking asset, then passed onto you. Staking rewards are distributed on a weekly or monthly basis depending on the frequency with which the underlying protocol distributes rewards.
- How do I buy crypto with USD?
While Binance.US no longer supports USD services, you can open an account with a trusted platform that allows you to buy crypto with USD. Be sure to choose a platform that allows you to transfer crypto into and out of the platform. Then, simply deposit the crypto you purchased to Binance.US.
To transfer crypto that you bought with USD on a different platform to Binance.US, learn How to Deposit Crypto.
- How do I “cash out” my crypto for USD?
While Binance.US no longer supports USD services, you can still cash out by withdrawing your crypto to another trusted platform that offers USD services. Be sure to choose a secure and reliable platform that allows you to withdraw your USD using your preferred payment method, whether that’s via Bank Transfer (ACH), Debit Card, Wire Transfer, or an alternative method.
Once you withdraw your crypto from Binance.US to your chosen platform, you can then use the third-party platform to trade, convert, or sell your crypto for USD and withdraw to your preferred payment method.
To withdraw cryptocurrencies from your Binance.US account, get step-by-step instructions on How to Withdraw Crypto.
- How do I trade crypto on Binance.US without USD?
We offer support for trading over 150 cryptocurrencies across a diverse selection of pairs including USDT, BUSD, BTC, and more. Notably, we offer USDT trading on nearly all of our supported cryptocurrencies, which means you can trade BTC/USDT, ETH/USDT, BNB/USDT, and more with ultra-low fees (including 0% fee Bitcoin and Ethereum trading).
Not sure what USDT is? USDT is a stablecoin, which are digital assets designed to mimic the value of fiat currencies, like the dollar or the euro. Stablecoins allow users to transfer value around the globe cheaply and rapidly while limiting price volatility. Learn What Are Stablecoins and whether they’re right for you.
If you have stablecoins or cryptocurrencies on another platform and would like to trade them on Binance.US, get step-by-step instructions on How to Deposit Crypto.
- Why did my market order execute at a higher or lower price than expected?
Using Market Orders for large transactions may expose you to a high Price Impact, which may cause you to pay more or receive less than your desired price.
Limit Orders allow you to lock in a specific price for your buy or sell orders. Click here to learn more about Price Impact and Slippage.
- Why can’t I withdraw my crypto from Binance.US?
If you are receiving an error when withdrawing your crypto, you may have reached our daily withdrawal limit of $1M for crypto withdrawals. This limit resets every 24 hours based on the time of transactions.
For example, if you withdraw $100,000 in crypto assets at 11 a.m., and then withdraw another $900,000 at 5 p.m., you won't be able to withdraw any more crypto until after 11 a.m. the following day when the $100,000 withdrawal is removed from the rolling limit.
- How do I trade one cryptocurrency for another?
Let's say you want to acquire a specific cryptocurrency that is not directly paired with the cryptocurrency you currently hold in your wallet. First, check if our Convert feature supports a direct crypto-to-crypto conversion. Click here for a step-by-step guide to Convert.
If not, you may need to place two trade orders on the exchange: 1) Trade crypto for USDT, then 2) Trade USDT for your desired cryptocurrency.
First, you would place a trade order to sell your existing cryptocurrency for USDT. By selling your crypto for USDT, you convert your holdings into a stablecoin that can be used to trade for other cryptocurrencies.
Then, with the USDT obtained from the first trade, you can place a second trade order to sell your USDT for the specific cryptocurrency you want to acquire. This trade pairs USDT with your desired cryptocurrency, allowing you to exchange one for the other.
By executing these two trade orders in sequence, you effectively convert your initial cryptocurrency holdings into the desired cryptocurrency. It's important to note that each trade order may involve transaction fees and market fluctuations, so it's advisable to review the order details, market conditions, and associated costs before proceeding with the trades.
*Please note that Binance.US collects a small spread between the buy and sell price of an asset when you use Convert. No trading fees apply to the Convert feature.
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Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; or (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.
Binance.US reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.