Binance.USReviews of binance.us

Low fees and decent selection of coins. Not as grand as Binance.com when it comes to coin selection but that restriction is caused by US regulators, not Binance. Wish they would offer instant withdrawals and no waiting period to transfer after depositing fiat.

I am leaving my original, scathing review below, intact, as I wrote it, below this one because I prefer honesty. I am a traditional investor who has a long track record of good bets in the stock market. Crypto rides on groupthink mentality and it is easy to read, imo. I saw a gaping money-making hole in the crypto market in DOGE so I jumped in and bought it and sold it fast, which was a great money-maker. Part of my bad review was from ignorance of the crypto world and for that, Binance.US, I apologize. Coinbase is a stable, well-rounded, secure and safe platform to buy crypto, but it sticks more to the main trunk of the tree. Binance.US is willing to get out on the branches and offer crypto that is a little more sketchy, or prone to the groupthink that drives the crypto market. I bought and flipped a bunch of DOGE on Binance because Coinbase did not offer the crypto. What I did not realize is that Binance.US, regardless of what their literature states, is fine with letting you buy in with fiat, but they really don't want to deal with letting you ACH USD out to a bank account. They, like all exhanges, make their money from crypto, not USD, transactions. Once I abandoned trying to do ACH withdrawals to a bank on Binance.US, and instead converted the USD to Stellar Lumens, transferred them to Coinbase, sold the Lumens a few minutes later, then did ACH transfer of USD back into my bank acct via Coinbase, it worked seemlessly. Long and short of it is, you are going to lose approximately 4% of your money doing this if you use Stellar Lumens as the crypto, but more if you use Bitcoin as the crypto to move, which wound up costing me close to 35%. These exhanges have to make money somewhere and, as a capitalist, I do not begrudge them from making a fortune doing it. As a heads-up to those who are new to the crypto market, be ready to pay fees. You do at the banks you use. They simply hide it so you don't see it. The crypto world wears fees on its sleeves. If I were going to stay in the crypto world, which I am not yet certain about, I would have a Coinbase and a Binance.US acct if you want access to some of the higher risk crypto that Coinbase may not be offering at the time. When it comes time to sell, know that you need to put Binance.US cash into a crypto that is relatively cheap to move, like Stellar Lumens, move it to Coinbase, then do what you will with it. Binance may let you IN with fiat, but they certainly don't want you exiting with it because they don't make crap if you do that. They make their money off you buying and then transferring crypto on their exchange. I made 600% on DOGE so giving Binance and Coinbase 4% to liquidate and put it all back into my bank was more than worth it. Info to keep in mind BEFORE you jump in. While I am leaving my intital review of Binance.US on the board, I am no longer compelled to throw them under the bus. Coinbase is more of a safe battleship and Binance.US is more of a battlefield. Both have their purposes and earn their money for what they bring to the table. Just make sure you know what you're doing and why you're doing it before you jump from the ledge. The reviews about Binance US locking up your account and then leaving you in limbo are legit. They have done this to me and now have my money and I have no redress against them. As far as I can tell, these people are a scam. I tried withdrawing just a little to see if I could do it and, while the screen reads that they sent a confirmation e-mail to verify the request, they simply don't send the e-mails so you are stuck. But they did manage to reduce my available balance by the amount of the failed withdrawal attempt. I read someone mention a class-action lawsuit and I suspect there are plenty of us now to do it. Not civil, but criminal. I would stay away from them entirely if you don't want to join the ranks of the rest of us who had our money taken from us by Binance US. And the good reviews are obviously written by the same person. Anyone who does any writing can see this plain as day.

I have actually have had a mostly a good experience using Binance. I did encounter a few problems when I first signed up. Binance took three weeks to verify my identity so I could start trading. I had to submit my documents for verification twice. The second time, I had to do it through my phone and my account was approved within 2-3 hours. I’m still not sure why it took less time, but it did. When it comes to transferring fiat money to my wallet, it is super easy if you’re using a debit card. I will say that I don’t like that there is $10 minimum, but it’s better than the $100 minimum required to do a wire transfer. I also don’t like that you can’t buy less than $10 worth of cryptocurrencies. I’ve noticed other exchanges let you do less. Nonetheless, Binance is a decent exchange, but it could use a few modifications. I would recommend it more than other exchanges. I have never had any trouble purchasing cryptocurrencies via Binance.

So far I like the service, the verification went smoothly, the set up is easy to navigate and they have a good staking rewards program, good support for different coins... no complaints so far. They did have a 10 day wait the FIRST time I used my debit card, after that though it drops to 3 days for debit, but you get your crypto on your account instantly and are able to use it in the market, you can trade with it and you don't have to keep it tied up in anything volatile, you can keep your money in USD or another stable coin until the market conditions become more favorable to switch to bitcoin or another coin ACH transfers I believe always take 10 days before you can withdraw, but also credit to your account as soon as the payment clears. If you keep a certain amount invested then you don't need to worry about the wait either when you just want to buy crypto because if you put say $10 in your account, wait the 3 days then put another $10 in your account, you can withdraw $10 anytime from the first deposit, and it doesn't matter if you invested the first $10 already, you can leave that money invested, and buy $10 of another coin and cash those coins out immediately as long as it's not more than $10 worth then in 3 days you can cash out the rest if you wish, or add more to increase your limit for next time.