.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%;}. Zhaos background includes developing high-frequency trading software and working as an executive at another cryptocurrency exchange, OKCoin. The fee chart can be confusing for beginners but offers vastly lower charges, especially for high-volume traders. *Excludes self-trading and Tier 0 trading pairs Click the cryptocurrency shown in the sell panel on the top-right-hand side of your screen. Both options have their benefits and drawbacks, and it is essential to Note: Fees are not avoidable. The second-way fees can be reduced by referring friends to Binance. Since the platforms are meant for different types of people, youll notice vast differences in their feature sets. . Here is a list of our partners and here's how we make money. Binance's trading cost of 0.1 percent is cheaper than that of several other US exchanges. We examined Coinbase and Binance by looking at the fee structures, cost, and how easy it is to understand. Trading fees are determined by your 30-day trading volume*, calculated on a rolling basis every day at 8 p.m. EDT. 2. Please refer to our fee schedule and structure for more information. Download the Binance.US app to trade on the go: iOS | Android. While Binance may be less expensive, Coinbase wins out overall. Well-known and trusted by U.S. regulators, Limited advanced options for expert traders, Fewer transaction types than other platforms. Both Coinbase and Binance require users to verify their identity with a photograph. Bank transfer and 100+ options. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Fast and secure decentralized digital asset exchange, Bringing blockchain broadcasts to you live, Verified user credentials for the Web3 era, Overview of the crypto market with real-time prices and key data, View top market movers and price performance, Perpetual or Quarterly Contracts settled in USDT or BUSD, Perpetual or Quarterly Contracts settled in Cryptocurrency, Enjoy increased leverage without risk of liquidation, Exclusive ranking for Binance traders, follow top traders' strategies, View our full range of crypto-derivative instruments, View trends and opportunities in the Futures Markets before trading, Learn how you could practice responsible trading with Binance Futures, Expand your knowledge and get the latest insights in Derivatives Trading, VIP Exclusive, Tailor-made Institutional Grade Services, Commit your crypto holdings and enjoy high returns, Mine more rewards by connecting to the pool, Earn high rewards when the market moves sideways, Get an instant loan secured by crypto assets, Premium digital asset solutions for institutions, Connect and grow with Binance liquidity solutions, Discover various asset management solutions, One-stop station made for VIP and institutions, Secure digital assets with leading infrastructure, Bespoke institutional loan with wide coverage. ", CNBC. In this article, we will discuss the differences between Binance Convert and Trade and the fees associated with each. Binance has a steep learning curve, supports advanced users, and provides international traders with hundreds of currency trading options. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Two of the most popular services offered by Binance are the Convert and Trade features. Get your Crypto Once the seller confirms receipt of money, the escrowed crypto will be released to you. When you google 'is binance conversion free' is says 'Zero Fees. This site uses cookies for analytics and personalized content. Trust Wallet is the official wallet for Binance users, a free app to store cryptocurrency that is highly rated by Google Play and App Store users. The Binance Bridge allows you to wrap your crypto assets (BTC, ETH, XRP, USDT, BCH, DOT, and many more) for use on the BNB Smart Chain in the form of BEP-20 tokens. 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. Binance Convert. Skip the fancy tools and get your preferred cryptocurrency fee-free in the correct amount, whether youre a casual retail user or a long-time crypto trader. You can then choose to add a new payment method, or select from previously added methods. BNB cryptocurrency: BNB, or Binance Smart Chain cryptocurrency, is used to support many applications and products in the cryptocurrency sector. When using Binance Trade, users are charged a fee for each trade they make. 6. Bitcoin doesnt have a central headquarters, Binance Review: A Cryptocurrency Traders Complete Guide, Crypto Vs Stocks: Is It Better To Buy Crypto Or Stock? You can even refresh the quote if it doesnt suit your needs. Binance.US offers the purchase and sale of about 125 cryptocurrencies. Start using Binance Convert today. With Binance Convert, a fixed execution price is guaranteed, making the execution process more manageable and cost-efficient. Confirm your sell information. Send money to the seller via the suggested payment methods. This is the best platform for those new crypto. 5. You'll now see the details of the trade. 9, trading fees are 0.02% for makers and 0.04% for takers. However, we are talking BTC probably falling back down to $3-$6k levels and alts being pulverised if we would to experience Binance collapsing. Buying, selling and trading crypto can get complicated. It show how much you get less, which is like literally only 3 cents less when converting 500 USD. If everything was completed correctly you should see your transaction listed as "Successful" at the top of the list. You can withdraw/trade up to 2 Bitcoin per 24 hour without doing any KYC. 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. Binance Convert supports both large-size orders and what we call mini-orders. .css-1sey3nz{box-sizing:border-box;margin:0;min-width:0;color:#C99400;-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}.css-1sey3nz *,.css-1sey3nz * > *{color:#C99400;}.css-1sey3nz:hover,.css-1sey3nz *:hover{color:#F0B90B;}.css-1sey3nz:focus,.css-1sey3nz *:focus{color:#C99400;}Binance Convert provides a straightforward way to convert Coin A to Coin B. If you are satisfied click Confirm Sell to execute your order. We adhere to strict guidelines for. However, it certainly cannot compete with its parent company. More than ever, traders have endless options on where they want to trade. Not for leverage traders but that's why it's prefect for the general crypto enthusiast and hodlr who don't need that additional risk exposure.. When you are finished click Preview Conversion. If a user pays fees with B.N.B. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. All financial products, shopping products and services are presented without warranty. Binance Convert is a quick and user-friendly way to exchange your crypto for another crypto or fiat currency and vice versa, with zero fees, using a time-sensitive conversion rate. Looking to make a large trade at the best price? We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The exchange currently offers more than 500 cryptocurrencies and over 1,200 trading pairs. Some context on staking and rewards: Staking programs operated by centralized businesses such as exchanges have been under regulatory scrutiny, with some facing allegations that their offerings amount to unregistered securities. Binance.US shall not be liable for any consequences thereof. That is one of the best deals in all of crypto. BNB had some security concerns in the fall of 2022, thanks to hack that led to a loss valued at about $570 million. Required fields are marked *. In 2017, Changpeng Zhao (also known as C.Z.) BNB has some utility on Binance.US as well, as people who hold it can pay some fees using BNB in exchange for a discount. Binance.US is a cryptocurrency exchange where only United States investors can trade over 50 cryptocurrencies, including Binance Coin or BNB, Bitcoin, Ethereum and more. With Binance Convert, a fixed execution price is guaranteed, making the execution process more manageable and cost-efficient. It is a great fiat on ramp. It is cheaper to buy on Binance. The company said it paid the losses in full to affected users. Binance is legal in the U.S. Although the exchange got off to a reasonably slow start, Binance.US has grown into one of the biggest cryptocurrency exchanges in the United States. , which protects investors up to $500,000 in total cash and securities loss in case of a brokerage failure, unauthorized trading or theft. Trade crypto with the freedom to buy and sell at your preferred prices. Complete the fiat transaction and click "Transferred, notify seller" on Binance P2P. The fee charged by Binance for this conversion would be 0.1% of the $60,000 BTC value, or $60. Your email address will not be published. Diversification is so important that our team has been building an index trader, allowing our customers to easily trade a basket of cryptos that align with their specific goals. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, Binance.US Review 2023: Pros, Cons and How It Compares. As the name suggests, transactions are settled immediately or "on the spot" as soon as the buying/selling order is filled. Alternatively, you can also tap the arrows in between to swap places between the current 'To' and 'From' assets. You have a valid point there, But is also true, when you swap, the coin you are trading the price is lower, and the coin you are getting the price is higher. Peer-to-peer (P2P) exchanges allow sellers the freedom to define how they want to be paid. You can even refresh the quote if it doesnt suit your needs. If customers pay trading fees with Binances native token, B.N.B., the fees will be reduced by 25%. Other fees may apply. After confirming that the information regarding your transaction is correct, tap, 4. Therefore, liquidity is extremely important to consider before deciding where to trade. Binances platform is easy to use, but the sheer number of choices can be overwhelming to a new user. As countries worldwide continue to take steps toward further regulating cryptocurrency, Binance may have to make some hard choices. 0.075% spot trading fee for 500 usd transaction: 0.00075*500=0.375 dollars, as opposed to like 0.03 dollars, so it does seem to be better i think but only marginally, at least for values near 500 USD. .css-1sey3nz{box-sizing:border-box;margin:0;min-width:0;color:#C99400;-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}.css-1sey3nz *,.css-1sey3nz * > *{color:#C99400;}.css-1sey3nz:hover,.css-1sey3nz *:hover{color:#F0B90B;}.css-1sey3nz:focus,.css-1sey3nz *:focus{color:#C99400;}Binance Convert is a quick and user-friendly way to exchange your crypto for another crypto or fiat currency and vice versa, with zero fees, using a time-sensitive conversion rate. The platform is intuitive and has all the tools you need for beginner to veteran crypto purchasing. 3. Why Cant I Log in to My Binance.US Account. 1. Strategy Trading. Binance and Coinbase are geared toward different types of users. How to Use Currency: Review & Full Guide, Tips Of 2023 For Crypto Traders. Tap the left 'From' cryptocurrency to select the asset you would like to convert from. Binance.US certainly doesnt have the same level of liquidity as Binance. Now that youre familiar with the basics of both Binance and Binance.US, lets cover some specific topics youre interested in. why should i use one over another?? Select the cryptocurrencies you would like to purchase from the drop-down menu. Convert just swaps the currency and spot trading- Is where you can trade assets with other traders in real-time. reiterated his stance that Binance had no central headquarters when he said the following: Everybodys definition of a headquarters of a company is different. Once again, U.S. citizens are probably wondering whether Binance.US can match Binance in this category. Both platforms offer a blog and knowledge base, but Coinbase also lets users earn cryptocurrency for watching videos for beginners. Coinbase Pro has a high of 0.4% maker and 0.6% taker fees on amounts up to $10,000. Binance.US currently offers more than 150 crypto-to-crypto trading pairs. binance-trades: The xlsx format used by Binance for trades. Binance offers support by email and 24/7 live chat. Consult with a qualified professional before making any financial decisions. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Another factor to note is that although Binance has more volume than any other exchange, that volume is spread across a much larger pool of cryptocurrencies than other exchanges such as Coinbase and Kraken. So I am new in learning the crypto market and I feel, though this is a good place to start huge variety of tokens to choose from. 2. With one click, you can easily exchange your crypto holdings for another coin of your choice at no additional cost. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex. 5. 1 Answer. Use Pay on the Binance.US app to send, request, and receive crypto instantly with zero transaction fees. For other . How to Convert Crypto on Binance.US 1. Click the Buy Crypto button on the web or tap the Buy & Sell button on the Binance.US App 3. ", The New York Times. The referral bonuses, as well as the discount for holding B.N.B., are available. But Binance.US does not say whether it has private insurance for crypto deposits held on its services. Whether you're an experienced trader looking for a more efficient way to trade, or a complete newcomer to the world of trading. 1. Therefore, its always important to look at the specific asset youre interested in trading to determine its liquid (or illiquid). 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. Then, tap the right 'To' cryptocurrency to select the asset you would like to convert to. For other cryptocurrencies, spot trading fees range from 0% to 0.6%. : Binance.US isnt available in all 50 states. Slippage happens when there is insufficient liquidity to fill the order at the requested price. Click the Convert option 4. Please refer to our Terms of Use for more information.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. Learn the basics so you can invest with confidence. If youve been struggling to find a suitable crypto trading pair for your holdings, our platform supports thousands of different token combinations. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. By continuing to browse this site, you agree to these terms of use. Once you see it, Click Go To Walletto verify your transaction status. The buy/sell spread is the cost. It has been around for longer and has grown into the most well-known cryptocurrency exchange. One of the clearest distinctions between the main Binance platform and Binance.US is the number of cryptocurrencies (and fiat currencies) with which you can trade. Once satisfied with your order, tap Preview Buyto proceed. Binance.US launched in September 2019 to serve customers from the U.S.A. Why is a Portion of my Assets Unavailable/Locked/Unable to be Withdrawn? 1. It seems like the convert has no fees, whereas spot trade has a fee. 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. 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. Advantages of P2P Exchange Low Transaction Fees On Binance P2P, takers are charged zero trading fees. Good day. Once complete, tap Preview Sell, 5. Binance.US supports 11 assets, with rewards up to 13.5%. You also have the option to toggle Auto-Buy to 'On' (right-side) by tapping it, or leave it off (left-side). Your transaction listed as `` Successful '' at the specific asset youre interested in its (. Are geared toward different types of users Binance.US currently offers more than ever, traders have endless options on they! 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Rewards up to $ 10,000 use currency: Review & full Guide, Tips of 2023 crypto! Cant I Log in to My Binance.US Account swap places between the current 'To cryptocurrency... Background includes developing high-frequency trading software and working as an executive at another exchange. Are charged a fee as `` Successful '' at the best platform for those new crypto can invest with.... And conduct first-hand testing and observation through provider demonstrations trade features the price! In September 2019 to serve customers from the drop-down menu the sheer number of can! To fill the order at the fee charged by Binance are the Convert and trade and fees. In September 2019 to serve customers from the drop-down menu for holding B.N.B., the fees associated each... To Buy and sell at your preferred prices individual circumstances once again, U.S. citizens are probably wondering whether can... Your preferred prices to make some hard choices be liable for any thereof. 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From qualified professionals regarding specific investment issues the discount for holding B.N.B. binance convert vs trade are available endless options on where want...