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Binance.US opens account deposits in preparation for trading, adds BNB

Binance.US opens account deposits in preparation for trading, adds BNB

Binance.US announced that its platform will now start accepting account registrations and deposits of six originally announced coins, with the addition of Binance Coin (BNB). The platform, however, will not be available to users in 13 states, including New York, Washington, and Texas.

Users can now start depositing BNB into Binance.US accounts

Binance coins deposit chart
Source: Binance.US

Binance, one of the largest cryptocurrency exchanges in the world, announced that its newly launched U.S.-only platform is now open for registrations.

Registrations and deposits have begun at 8 a.m. ET on Sept. 18, enabling users in 37 states to create accounts and deposit funds.

Binance.US will not be available in 13 states, including Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont and Washington, the company said in a blog post.

The platform initially announced that it will accept deposits of Bitcoin (BTC), Ethereum (ETC), XRP (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and Tether (USDT). However, users will now be able to deposit Binance Coin (BNB) as well, Binance said in a Sept. 18 tweet.

According to the company’s blog post, the onboarding of customers marks the beginning of the first phase of their U.S. launch. The addition of Binance Coin also marks the first time a high-profile cryptocurrency exchange has listed BNB.

The best is yet to come for Binance’s U.S. branch

The second phase of the Binance.US launch will bring “the largest variety of digital assets to the U.S.”

“Although it is upsetting that we cannot offer Binance.US in the states where I grew up and earned my education at this time, please rest assured that this is just the beginning,” Catherine Coley, the CEO of Binance.US said in a blog post.

However, Coley, a former Ripple executive, added the company is working on adding support for additional jurisdictions.

To attract users to the newly launched platform, trading on Binance.US will be free until Nov. 1, when regular fees will be introduced. The company said it will implement a straightforward fee schedule, offering personal accounts a flat fee of 0.10 percent per trade.

Corporate accounts, on the other hand, will have their fees adjusted depending on their trading volume.

However, trading on Binance.US is yet to begin. The company said trading on the order books will begin only after a sufficient supply of coins is established.

Binance Coin | BNB

Updated: Sep 19 at 1:32 am PDT
$21.75
2.87%

Binance Coin, currently ranked #8 by market cap, is up 2.87% over the past 24 hours. BNB has a market cap of $3.38B with a 24 hour volume of $369.11M.

Chart by CryptoCompare

Binance Coin is up 2.87% over the past 24 hours.

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Priyeshu Garg
Author

Priyeshu Garg

Crypto Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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