In fairness, this is not due to any failing from Binance.US specifically, but rather, is due to the regulatory hurdles it must contend with. That being said, Binance.US currently has 53 cryptocurrencies (including stablecoins) available for trading.
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Cryptocurrency is an exciting concept with the power to fundamentally alter global finance for the better.
Several factors explain why Binance.US launched a separate platform. Changes in regulations and Binance’s own rules reaction to external changes stand out as a large driver.
There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.
Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” report. Another positive is that investors continue to withdraw coins from centralized exchanges whose share of supply has dropped to a new record low at 12.9%.
This is just one example, but it definitely highlights the difference between trading on Binance and Binance.US. Although small traders won't make much of an impact on either exchange, all else being equal, most traders would prefer to trade against the larger book, rather than the smaller one.
SafeMoon burst on to the cryptocurrency market place earlier this year – and now the digital coin is seeing further gains.
Like all cryptocurrencies, the majors are digital assets that secure and verify transactions using computer science and complex mathematics, known as cryptography. Unlike traditional (‘fiat’) currencies, they are not currently issued or backed by a central authority such as a government. Instead, they run across a network of computers and are underpinned by blockchain technology – a permanent record of transactions that cannot be altered without the consensus of the network.
On the other hand, cryptocurrencies come with a host of risks and drawbacks, such as illiquidity and value volatility, that don’t affect many fiat currencies.
There are thousands of different cryptocurrencies available today. The most popular — and the original — is Bitcoin, which was created in 2009. Other common cryptocurrencies include Ethereum, XRP, and Bitcoin Cash. Each of these currencies serves a different purpose, with some optimized for use in place of cash, and others designed for private, direct transactions.
Blockchain. A permanent online ledger that functions as a public accounting of cybercurrency transactions that have been executed. New “blocks” are added to the blockchain after the confirmation of each set of transactions.
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Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.
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Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.