Binance Global has an affiliate in the US. That is Binance.US. Both are well known for their low trading fees. However, Binance.US just added a new tier to its fee structure. They now offer zero fees on selected Bitcoin trading pairs.
This puts them in a unique position in the US. So, we have a look at this zero fee offer from Binance.US.
The best #crypto platform for low fees just got better. #BinanceUS is the first major platform to offer zero-fee #bitcoin trades for BTC/USD, BTC/USDT, BTC/USDC & BTC/BUSD spot pairs, for all users without trading volume requirements.
— Binance.US 🇺🇸 (@BinanceUS) June 22, 2022
Zero Fees for Bitcoin Trading on Binance.US
Binance.US released the news that they offer zero trading fees for selected Bitcoin pairs. This was in late June 2022. No other major exchange in the US offers this.
Binance.US included four spot market pairs in this offer. These are BTC/USD, BTC/USDT, BTC/USDC, and BTC/BUSD. This is for tier 0. Here is full disclosure of the trading fees at Binance US. In a previous article, we explained the difference between Binance and Binance US.
For us, as customers, we get more value and a better experience. But we also want to be able to enjoy these zero fees. So, we first need to deposit fiat into your Binance US account. Let’s have a look at that.
How to Deposit and Withdraw Funds on Binance US
Binance.US gives you a variety of options to deposit fiat. We discuss them here, but the easiest option may be with ACH. This is an easy and free on ramp and withdrawal option for US citizens. Especially considering that there aren’t too many free options.
Anybody on iOS can use Apple Pay. This allows you to deposit USD into your Binance.US account. First, you will need to add Apple Pay on your iOS device before you can deposit USD. If you have already set this up, it will link directly to your account. Now you start depositing. Binance has a clear and easy-to-understand explanation on how to add and deposit via Apple Pay. There’s a deposit fee of 3.75% for this option. Withdrawals to Apple Pay are not possible.
You have to connect your bank with ACH. Usually, this is an option in your regular payment menu of your bank. However, you can also add your ACH payment manually. You need to do this when your bank doesn’t show up in the regular ACH payment menu. This will help you with linking your Bank with routing and account numbers.
This should connect you with ACH. Now you can complete the deposit verification. This is an easy process.
You can also withdraw with ACH, which Binance explains here. With full ID verification, you can withdraw up to $10,000 via ACH. Deposits and withdrawals are free. There’s a minimum withdrawal of $1. Check the Tweet below for information on your deposit being on hold.
Chase might ask you to relink your Chase account via Plaid.
ACH deposits are instant. To prevent chargebacks, you cannot withdraw the equivalent amount in Fiat and Crypto of your ACH deposit for 10 days. https://t.co/JU8CI8LJcq
— Binance.US 🇺🇸 (@BinanceUS) February 16, 2021
You will need to connect your debit card to your Binance account in the US. Any deposit you make by debit card has a 10-day hold period. This means that if you deposit $100 by debit card, you have to wait 10 days before you can withdraw $100 in USD or crypto.
The deposit limit depends on your verification level. Basic verification allows a $3,000 deposit. On the other hand, if you complete the Advanced Verification, your limit goes up to $5,000.
This just in, #BinanceUS now has some of the lowest debit card fees when depositing USD.
— Binance.US 🇺🇸 (@BinanceUS) August 11, 2022
Wire deposits are free. When you want to withdraw by wire, there’s a minimum of $100 to withdraw. There’s also a withdrawal fee between $10 and $15.
Compared to alternative options, a wire deposit gives you faster access to your funds. Binance US has a good explanation and guidelines on how to complete domestic wires. They also have an explanation on how to withdraw by wire.
Generally, wire transfers will take a maximum of 3 business days for the deposit to arrive. https://t.co/cO1CAZGn6X
— Binance.US 🇺🇸 (@BinanceUS) September 10, 2020
Binance and the US affiliate offer free Bitcoin trading on four trading pairs. This is great news and is unique in the US.
We explained in this article how to deposit fiat into your Binance account in the US. Once you deposit money, you can start trading and make use of the zero fees Bitcoin trading offer.
We also have a series of FAQs about Binance, check them out.
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