However, VPNs cost money, and there is no guarantee that your finances will be secure, even with a private network. If Texas investors want to use Binance or Binance.US, they can use a Virtual Private Network (VPN) to bypass their state’s restrictions and access the exchange. How can investors in Texas get around the ban? While 13 states had originally banned it, that number is now down to four. The return rate on investments they were advertising was ridiculous and unreal, claiming that users could get a 30% or even 40% return on investments.Įven so, US states have slowly been lifting the bans on Binance.US over the past several months as cryptocurrency becomes more popular. Since Binance.US is a sister company, the ban extends to them for being associated with an illegal entity.Īnother concern for the Texas government was the manipulative and false advertising that Binance was using. This might seem like a silly reason to ban a money exchanging service, but there are other legitimate reasons that Texas is wary of cryptocurrency.įirst and foremost, Binance, not Binance.US, is an unregulated entity, meaning it cannot operate in the United States legally.
The Binance banned American users in 2019, and in retaliation, Texas banned Binance.US. There are several reasons why Texas and other states do not allow Binance to operate within its borders. If trading isn’t your thing, Binance has a program called Binance Earn that will help increase your passive crypto income without keeping up with the market. You can buy it using fiat, a debit or credit card, or trading with other users. Trading is done through the digital wallet on Binance through the feature labeled “Fund Your Wallet.”Īfter that, users can begin trading crypto.
WHICH COINS WILL BINANCE US SUPPORT VERIFICATION
You must submit ID verification and a portrait to prove your identity.Īfter that, you will have to fund your account by investing some fiat currency into crypto so you can begin trading. Users go to the Binance.US homepage and set up an account using a valid email. It is not much different than opening a bank account. They are both relatively simple to use.įirst, users open an account. How Is Binance Used?īinance and Binance.US function the same way, though they are different exchanges. The Binance company has its domain in the Caymen Islands, but the use of the service has spread worldwide with the rise of cryptocurrency. Binance.US operates very similarly to Binance despite this. Additionally, they are subject to American regulations.
What Is Binance.US?īinance.US carries many of the same features as Binance but has fewer cryptocurrencies available and slightly different fees. Binance, however, is not available in the United States and instead has a sister company known as Binance.US. It supports crypto futures, a situation in which a trader will set crypto to sell at a fixed price, and once that price is met, it will sell automatically. Secondly, Binance offers unique features that make trading cryptocurrency much easier. Binance features 600 different cryptocurrencies, including its own: the Binance coin. First, it has a vast array of cryptocurrencies that customers can exchange. The reason Binance has been so successful is for two reasons. It was launched in September 2019 and has rapidly grown, becoming one of the top cryptocurrency trading services. Binance is a cryptocurrency trading service.
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