Bad Credit vs. Binance.US – Forbes Advisor

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You should do your homework before investing in cryptocurrency.

It is not enough to choose the cryptos you want to own. First, you need to decide how you want to buy and sell cryptocurrencies.

To get started, read up on crypto exchanges – there are around 500 to choose from. Let’s take a closer look at two of the most popular exchanges, and Binance.US. vs. Binance.US: Similarities and Binance.US both allow you to trade an extensive list of cryptocurrencies. They also offer a wide range of other services, such as crypto wallets and crypto staking for Cardano (ADA) and Ethereum (ETH).

Both exchanges offer cryptocurrency storage options.

Binance.US users can select the Binance Chain Wallet, which supports storage of Bitcoin, Ethereum, and Binance Coin (BNB), to name a few. users can keep their crypto in the DeFi Wallet.

Both exchanges offer margin trading as an advanced feature. Margin trading allows users to borrow money to trade larger amounts.

Security is a major issue in crypto, and both companies have experienced hacks.

In January 2022, almost 500 accounts suffered unauthorized withdrawals. In total, total losses were around $34 million, including over $15 million in ETH, $19 million in BTC, and around $66,200 in other cryptocurrencies.

Although the Binance.US exchange itself was not hacked, thieves stole $40 million worth of BTC from its parent company in 2019. vs Binance.US: Differences

Binance.US is best suited for more experienced crypto investors who trade often and can rack up savings through the exchange’s tiered fee structure.

For users trading Tier 1 crypto pairs like ETH/USD or SOL/USD, the maker and taker fees are 0.1% and 0.2%, respectively, for trades under $10,000 per month. Additionally, the company offers free BTC trading for a limited set of pairs.

Crypto exchanges are not known for their excellent customer service. But Binance.US ranks particularly poorly on this front compared to Nearly 90% of Binance.US reviews on Trustpilot give the exchange a “bad” rating, while only 64% of reviews give a bad rating.

Despite its reputation for less than stellar customer service, is more beginner-friendly than Binance.US.

“ is the go-to option for crypto newbies and beginners,” says Ivaylo Yovkov, COO of Rewards Bunny.

The platform is also more widely available in the US, although it also charges higher fees, on average, than Binance.US.

“’s global sports sponsorships and mainstream TV ad campaigns make their platform feel familiar and trusted,” says Joseph Poulose, Chief Information Officer at InterMedia Group of Companies.

Who should choose

The platform is one of the most popular crypto exchanges, with 50 million users in 90 countries. Founded in 2016, it is available everywhere in the United States except New York State.

Although it has over 250 redeemable coins, not all of them can be redeemed in the United States. That said, offers a range of features, including a marketplace for non-fungible tokens (NFTs) and a DeFi wallet. also offers a prepaid Visa rewards card that makes it easy to add funds to your account with bank transfers, credit or debit card payments, and cryptocurrency. Users of the exchange’s native cryptocurrency, Coin (CRO), will benefit the most from the card.

Another feature of is that users can earn interest on cryptocurrencies which they can lend to other users based on their loan and the amount of CRO they hold in their account.

Benefits of

  • Trading fee discounts for users who hold CRO
  • Cashback Rewards Visa Card
  • App suitable for beginners

Cons of

  • You pay more fees if you trade less
  • It is not available in all 50 states
  • Fees and discounts can be difficult for beginners to understand
  • The platform has been hacked

Who should choose Binance.US?

One of the main appeals of Binance.US is the low fees. In addition to limited free Bitcoin trading in the US, the exchange offers some of the lowest fees in the industry. The more you trade, the lower your fees, and you can get a 25% discount on advanced trading fees if you pay with Binance’s native token, BNB.

Note that BNB is one of the top 10 altcoins. The coin is a utility token primarily used to pay trading fees and obtain discounted trades, but its market capitalization of $47 billion is a testament to Binance’s popularity.

“ and Binance are two companies competing for essentially the same group of retail users and a differentiated group of more sophisticated users and businesses,” said Anderson Mccutcheon, CEO of

US residents, except those living in Hawaii, New York, Texas, and Vermont, must use the uncluttered derivative platform that complies with US financial regulations.

Like, Binance.US offers over-the-counter (OTC) trading where trades are made directly between a buyer and a seller and large transactions can take place without moving the broader market.

Advantages of Binance.US

  • Fees are low compared to major competitors.
  • Supports over 100 cryptocurrencies.
  • It offers several versions suitable for different crypto skills and comfort levels.

Against Binance.US

  • Not available in many US states
  • Parent company Binance has been hacked
  • The company faces regulatory issues
  • Has a reputation for poor customer service