Binance.US does NOT provide investment, legal, or tax advice in any manner or form. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. Kevin Voigt is a former staff writer for NerdWallet covering investing. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. Binance charges an additional 3.75% for debit card transfers (Binance.US doesnt allow credit card purchases). BNB cryptocurrency: BNB, or Binance Smart Chain cryptocurrency, is used to support many applications and products in the cryptocurrency sector. It issues three possible reporting forms, the 1099-MISC, Form 1040 Schedule D and Form 8949. Our fee and feature charts give a side-by-side view of security, transaction types, fiat currencies accepted, payment methods, and cryptocurrencies. 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. The more illiquid an asset is, the harder it will be to trade it without causing a major price change. Binance is a well-known cryptocurrency exchange and is recognized for its lightning-fast trading. Once satisfied with your order, tap Preview Buyto proceed. In conclusion, Binance Convert and Trade are two of the most popular services offered by Binance. Cove Markets believe simplifying the trading process can make it more accessible to a broader range of people. Head to the Binance Convert & OTC Portal. 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. Your buy order will now be processed and you should see a screen showing that your buy was successful. U.S. citizens that still wish to trade with Binance are only permitted to open an account with Binance. Your email address will not be published. Once the quote is confirmed, the converted fiat or crypto will appear in the users Spot Wallet. Investopedia requires writers to use primary sources to support their work. Yes, Binance.US offers zero fees on Tier 0 pairs and a high of 0.3% maker and 0.45% taker fees on Tier 1 pairs. 6. If you are satisfied click, Scroll down or use the search function to find the asset you would like to sell and tap on its name, After selecting your asset, use the number pad to enter the amount of the asset you would like to sell (in the U.S. Dollar equivalent). It is important to note that the fees charged by Binance Convert may vary based on the specific cryptocurrencies being converted. If you'd like to change methods, tap the arrow to the right of the current method. In this article, youll find out why crypto users prefer Binance Convert for their daily crypto conversions. Once that's done, you can trade the crypto you transferred for leveraged tokens. The good news for U.S. customers is that Binance.US does offer the same low trading fees that Binance does. 1. 3. Hover over ' Trade, ' which you will find at the top of the screen. When it comes to cryptocurrency listings, Binance is the undisputed king. Alternatively, you can select ' Markets ' (left of 'Trade') and click ' Trade ' to the right of your desired trading pair (the currencies that you will trade between). All financial products, shopping products and services are presented without warranty. The referral bonuses, as well as the discount for holding B.N.B., are available. Kevin Voigt is a former investing writer for NerdWallet. It is important to note that fees for trading on Binance can vary depending on the specific cryptocurrency being traded. Additionally, there are a few ways in which customers can reduce the number of fees they pay when they sell/buy crypto. All information is provided on an as-is basis and is subject to change without notice. Bank transfer and 100+ options. Trade execution: Binance is known for its high-speed trade execution. NerdWallet's ratings are determined by our editorial team. This is even more than the Binance Spot Market, including listed tokens for Binance Liquidity Pool like SHIB/XRP, SLP/AXS, etc. Verdict: When it comes to the number of cryptocurrencies available for trading, Binance.US is relatively in line with other U.S.-based crypto exchanges such as Coinbase, Kraken, and Gemini. Binance Convert provides enough liquidity to completely remove the risk of slippage. Binance Convert. .css-1lvj3h1{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-1lvj3h1:hover{box-shadow:0px 0px 1px rgba(24,26,32,0.1),0px 16px 32px rgba(71,77,87,0.16),0px 8px 16px rgba(24,26,32,0.16);}.css-nunjf0{box-sizing:border-box;margin:0;min-width:0;color:#F0B90B;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-nunjf0:hover{box-shadow:0px 0px 1px rgba(24,26,32,0.1),0px 16px 32px rgba(71,77,87,0.16),0px 8px 16px rgba(24,26,32,0.16);}. 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. 6. The easiest way to trade. The buy/sell spread is the cost. Get more smart money moves straight to your inbox. use the number pad to enter the amount of the asset you would like to purchase (in the U.S. Dollar equivalent). Preview and confirm the quote and youll find the crypto in your. Brian Brooks is a former Coinbase executive who also served as Donald Trumps Acting Comptroller of the Currency. Make smarter trades with deep liquidity, powerful charting capabilities, and ultra-low fees you wont find on other crypto exchanges. You can also use Binance to convert your WETH. live and historical price, trading volume, market capitalization, and cryptocurrency converter. Trading fees are determined by your 30-day trading volume*, calculated on a rolling basis every day at 8 p.m. EDT. Binance Convert allows users to quickly and easily convert one cryptocurrency to another without having to go through the process of buying and selling on the exchange. Coinbase is a U.S.-based exchange designed for beginners with a simple interface and limited transaction types. Buy and sell safely and easily on Binance P2P. Confirm your conversion information. convert trading pairs supported. Our opinions are our own. After confirming that the information regarding your transaction is correct, tapConfirm Sell to execute your order. Binance Convert provides enough liquidity to completely remove the risk of slippage. The investing information provided on this page is for educational purposes only. How to Use Coinbase: Review & Full Guide Of 2023 For Crypto Traders. If you do not see this message, please wait another few moments before retrying this transaction. Imagine that someone is placing a large order in the order book, such as 100 BTC to be converted to ETH. It declared that it doesnt have a headquarters because Bitcoin doesnt have a central headquarters. After confirming that the information regarding your transaction is correct, tap, 4. Trading assets with lower liquidity and volume can cause. Learn more. I worked from home for the last three and a half years. 46. states supported with more to come. Here is a list of our partners. Is this button basically trade? 5,660+. Start using Binance Convert today. Press question mark to learn the rest of the keyboard shortcuts. Click the "$0" sign above your cryptocurrency selection to enter the USD amount of the cryptocurrency you wish to sell. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. High-volume traders can also level up for very important person (VIP) discounts. Verdict: Binance is the obvious winner when it comes to liquidity. Binance does not advertise a phone support option. The token had been issued and distributed in an ICO with the launch of the exchange (as an Ethereum ERC-20 token, the ICO itself raising ~$15 million at the time). As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex. If not, you may receive a message that your order is in progress, in which case you will receive a notification email once the order is complete. 3. As of early 2021, the number of cryptocurrencies on Binance.US stood at just 53, while the original version of the platform supports over 200 different coins. What Is a Spot Market and How to do Spot Trading? At the lowest volume level, V.I.P. 4. Binances platform is easy to use, but the sheer number of choices can be overwhelming to a new user. A message should show up stating "Convertin Progress" as we process the transaction. levels, whereas the international platform only has 9 V.I.P. Make sure to confirm them before accepting the swap. Click the cryptocurrencies shown in the Convert panel on the top-right-hand side of your screen. 150+. In regulatory trouble in several countries and under investigation in U.S. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. 7. Crypto moves fast and for large-scale traders, your buy and sell orders may not execute at your desired price. Our partners cannot pay us to guarantee favorable reviews of their products or services. 4. provides a straightforward way to convert Coin A to Coin B. Binance is primarily known for its low fees and large amounts of liquidity as well as offer many features within its platform such as spot trading, futures trading, crypto wallet and other advanced tradings. Disclaimer: NerdWallet strives to keep its information accurate and up to date. . "Coinbase Users Say Crypto Start-Up Ignored Their Pleas for Help.". Click the Buy Crypto button on the web or tap the Buy & Sell button on the Binance.US App 3. During May, Binance had a spot trading volume of approximately $1.5 trillion, a 63% increase from April. Investing in cryptocurrencies and other Initial Coin Offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Almost all crypto assets listed on Binance.com can be converted, along with stablecoins and fiat currencies. Both options have their benefits and drawbacks, and it is essential to P2P. It has been around for longer and has grown into the most well-known cryptocurrency exchange. But Binance.US does not say whether it has private insurance for crypto deposits held on its services. Peer-to-peer (P2P) exchanges allow sellers the freedom to define how they want to be paid. Now that youre familiar with the basics of both Binance and Binance.US, lets cover some specific topics youre interested in. 2. But the similarities stop there. Confirm your sell information. Required fields are marked *. 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. Both platforms offer a blog and knowledge base, but Coinbase also lets users earn cryptocurrency for watching videos for beginners. It seems like the convert has no fees, whereas spot trade has a fee. Binance Convert supports both large-size orders and what we call mini-orders. 5. You can withdraw/trade up to 2 Bitcoin per 24 hour without doing any KYC. 1 Answer. There are five main reasons: Using Binance Convert, users can simply and instantly convert crypto or fiat assets anytime with zero fees at a live market price. NerdWallets comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. in a matter of seconds. Then, tap the right 'To' cryptocurrency to select the asset you would like to convert to. NerdWallet strives to keep its information accurate and up to date. Both Binance and Binance.US are two of the most popular cryptocurrency exchanges on the planet. 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. BNB had some security concerns in the fall of 2022, thanks to hack that led to a loss valued at about $570 million. However, for almost all traders, that wont make a difference. 5. The cryptocurrency industry has come a long way in recent years. Binance.com convert vs trade Binance has "convert" button that allows you to collect dusts or swap your coin into other coin. Become a NerdWallet member, and well send you tailored articles we think youll love. Simply select the token you have and the token you want to buy. Binance.US gives a wide choice of cryptocurrencies with a trading fee that is among the lowest of the cryptocurrency exchanges NerdWallet reviews. In a swap you can end up paying more hidden fees than if you where to trade. Binance and Coinbase are among the best crypto exchanges. However, both platforms support popular and up-and-coming currencies such as: Although both platforms are considered secure, Coinbase has a better overall reputation. Binance is known for its high-speed trade execution. Want to Trade Stablecoins With Ultra-Low Costs? We dont charge a single trading fee from any trade you conduct on Binance Convert. For example, the following cryptocurrencies are on Binance but not Coinbase: vechain (VET), harmony (ONE),vethor token (VTHO), and qtum (QTUM). Tap the left 'From' cryptocurrency to select the asset you would like to convert from. Create an account to follow your favorite communities and start taking part in conversations. 1. From the pop-up menu, selectBuy Crypto, 3. If you click on links we provide, we may receive compensation. Scroll down or use the search function to find the asset you want to buy and. Trade crypto with advanced tools. Simply select the token you have and the token you want to buy. 0, trading fees are 0.1% for both makers and takers. 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. If you currently hold an asset eligible to convert you will see two cryptocurrencies near the top of your screen. Rewards are calculated daily and distributed weekly. Your current payment method will show under the USD purchase amount. Your "Transaction History" will automatically display. 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.. 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. Select the cryptocurrency you would like to sell from the drop-down menu. Trusted By Millions Of People. Users, however, are welcome to use their own choice of crypto wallet. Binance offers support by email and 24/7 live chat. However, it certainly cannot compete with its parent company. When you are done click Preview Purchase. However, when it comes to CEXs, Binance is likely the first name that comes to mind. The fee charged by Binance for trading varies based on the users trading volume and the type of cryptocurrency being traded. "US Probes Binance Over Token That Is Now Worlds Fifth Largest. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. Binance Convert gives you the flexibility to trade any coin for any other coin directly across more than 350 supported tokens. On Binance P2P, takers are charged zero trading fees. After logging into your account, click the, 5. When you google 'is binance conversion free' is says 'Zero Fees. 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. Note: Fees are not avoidable. If youve been struggling to find a suitable crypto trading pair for your holdings, our platform supports thousands of different token combinations. 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. You can learn more about the standards we follow in producing accurate, unbiased content in our, Binance vs. Coinbase: Supported Currencies, Securities Investor Protection Corp. (SIPC), US Probes Binance Over Token That Is Now Worlds Fifth Largest, Hackers Steal Over $40 Million Worth of Bitcoin From One of the Worlds Largest Cryptocurrency Exchanges, Coinbase Users Say Crypto Start-Up Ignored Their Pleas for Help, Low fees, comprehensive charting options, and hundreds of cryptocurrencies, Intuitive, beginner-friendly platform offering basic transactions, a digital wallet, and withdrawals to PayPal, 0.10% spot-trading fees, 4.5% debit card purchases, Over 700 for global traders on Binance. Log into your Binance.US account on the web or using the Binance.US Mobile App 2. By continuing to browse this site, you agree to these terms of use. There are no transaction fees, but users are charged the spread between the buy and sell price. When using Binance Trade, users are charged a fee for each trade they make. The final output produces star ratings from poor (one star) to excellent (five stars). Accessibility: Binance.US isnt available in all 50 states. Binance.US's OTC portal allows trading directly between buyers and sellers. Binance Convert provides an easy way to convert Coin A to Coin B. If you are based in the United States, Binance.US is your only available option. Binance.US shall not be liable for any consequences thereof. BNB had some security concerns in the fall of 2022, thanks to hack that led to a loss valued at about $570 million. Consult with a qualified professional before making any financial decisions. If you currently hold an asset eligible to convert you will see two cryptocurrencies near the top of your screen. What Are Liquidity Pools in DeFi and How Do They Work. Binance security features also include address whitelisting, device management, and the ability to restrict device access. Bloomberg. However, the Binance.US exchange supports just over 100 coins. Many or all of the products featured here are from our partners who compensate us. Binance.US uses a few factors to determine spot trading fees, but in general, even casual users will be able to trade Bitcoin for free. Almost all crypto assets listed on Binance.com can be converted, along with stablecoins and fiat currencies. April was a milestone month as Binance.US announced its total trading volume surpassed $28 billion. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Binance.US supports 11 assets, with rewards up to 13.5%. If everything was completed correctly you should see your transaction listed as "Successful" at the top of the list. As a reminder, Binances fees are the lowest in the industry, even before factoring in the discounts. 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. Therefore, its always important to look at the specific asset youre interested in trading to determine its liquid (or illiquid). Select ' Advanced Trading ' from the drop-down menu 3. So the only use case is the real time trading? Trades range from free to 0.6%, but as high as 3.75% if using a debit card. Discover trading opportunities across markets with our Advanced Trading interface. 3. Please note you will pay from your USD balance in your Binance.US wallet by default. Confirm your sell information. 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. Complete the fiat transaction and click "Transferred, notify seller" on Binance P2P. Through this portal, trades are negotiated directly between the buyer and the seller. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Strategy Trading. If you are satisfied click. 5. Binance Trade is a more complex feature than Convert and requires users to have a good understanding of technical analysis and risk management. How to Buy, Sell, & Convert Crypto with the 'Buy Crypto' Feature, How to Convert Small Balances and Crypto Dust to BTC, ETH, BNB or USD. This blog will explain the major differences between each platform. While the fees associated with Binance Trade may be higher than those of Binance Convert, the potential for profit is also higher. Coinbase Pro has a high of 0.4% maker and 0.6% taker fees on amounts up to $10,000. Traders want to be able to convert one asset for another asset while having a minimal impact on the price. In contrast, Binance offers live chat, an option to submit a ticket, or support through a Twitter help account. Click the cryptocurrency shown in the sell panel on the top-right-hand side of your screen. 5. 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. Overall, it is considered one of the least expensive platforms to use. How to Sell Crypto on the Web. These include white papers, government data, original reporting, and interviews with industry experts. Regulatory issues: Global parent company Binance has run into regulatory issues and controversy in some countries, moving operations from China to Japan; at a May 2020 tech conference, founder Changpeng Zhao claimed the parent company doesnt have a headquarters because Bitcoin doesnt have an office.. The Binance.US version is less robust with limited options. Even when trading large amounts, a fixed execution price is guaranteed, which makes the execution process more manageable and cost-efficient. Shib/Xrp, SLP/AXS, etc please contact TransUnion directly into the most popular services by! The `` $ 0 '' sign above your cryptocurrency selection to enter the USD purchase.! Its parent company when trading large amounts, a qualified professional should always be consulted before any! Up stating `` Convertin Progress '' as we process the transaction requires to... To submit a ticket, or tax advice in any manner or form is known for its high-speed trade.! 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Information from your USD balance in your confirm them before accepting the swap for is! Vip ) discounts fees are 0.1 % for debit card but users are the! Is a well-known cryptocurrency exchange sell to execute your order thousands of token., which makes the execution process more manageable and cost-efficient you agree to these terms of use takers charged...