Earlier this week, September 17th the CEO of Binance.US, Catherine Coley sat down with Siamak Masnavi of CryptoGlobe for an interview where she answered several questions about the upcoming crypto exchange.
Based on Coley’s responses and previous blog posts, Masnavi laid out a small FAQ guide to the Binance.US platform.
To start off with, who is able to register a new account at Binance.US?
“Anyone based in the U.S. who can satisfy the exchange's "Know Your Customer" (KYC) requirements. This requires providing a valid state/federal ID (such as a passport or a driving license) and a social security number.”
In a recent post, Coley noted that when it launches, Binace.US won’t be available to residents of Alabama, Alaska, Connecticut, Florida, Georgia, Hawaii, Idaho, Louisiana, New York, North Carolina, Texas, Vermont, and Washington. This is presumably down to state licenses.
Following on from this, Coley says the following in when users will be able to register an account:
“User registration opens at 8:00 ET (or 12:00 UTC) on Wednesday, 18 September 2019. After your account has been created, you will be able to deposit BTC, ETH, XRP, BCH, LTC, USDT, and USD.”
In terms of what fees will be like on the platform, Coley said:
“For personal accounts, there is a flat fee of 0.1% per trade, but there is currently a special offer: until 1 November 2018, there are zero trading fees. As for corporate accounts, the fee will depending on their trading volume.”
It will be interesting to see how this the launch of the platform plays out. It will presumably be a success given the brand name alone and the word of mouth advertising through online social media though.
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