A US arm of major crypto exchange Binance began accepting the deposit of five cryptocurrencies, Cardano, Ethereum Classic, Stellar, BAT and 0x.
Although the exchange announced user registrations since last week, but the deposit of Cardano, Ethereum Classic, Stellar, BAT and 0x have made accessible from Monday, Sept 23, 2019. Also, the exchange is set to begin trading of seven cryptocurrencies; Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC) and Tether (USDT) from Tuesday, Sept 24, 2019.
The Binance US is currently open and will waive the transaction fee but will reportedly charge a minimal flat rate of 0.1% by November 01, 2019. The US branch of Binance spearhead by Catherine Coley who was previously working at Ripple. She says that the funds of current Binance.com’s users will not be automatically transferred to the Binance US platform.
Nevertheless, it was also reported that the users of new Binance US can enjoy $15 referral bonus until Nov. 1.
Following the latest deposit announcement of five cryptocurrencies by Binance US, the prices of these cryptocurrencies are showing quite a mixed response. While Stellar, Cardano, and BAT are in high spirits, Ethereum and 0x are in hot water and have to look for a close shave.
Specifically, Stellar, Cardano, and BAT are briefly popping up the green signal of 0.01%, 0.56% and 2.27% within the past 24Hrs respectively. On the contrary, Ethereum has come down in its value by 0.01% and 0x has also decreased by 8.96%.
The exchange has also said that it will list additional tokens in the near future to ensure it is aligned with the US regulations and compliance standards which is based on its Digital Asset Risk Assessment Framework. With the full bang launch, Binance US might be a competing giant to the existing US crypto exchange such as Coinbase.
So far Binance has been playing smart as the exchange taps new regions with utmost diligence of regulations – having said that the exchange is currently restricting 12 states of the US from its trading platform. These states also include New York, Texas and Florida.
Image Source – Binance