What is Binance?

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Binance Logo (Source: Binance Twitter)

Founded in 2017, Binance is now the world’s largest cryptocurrency exchange when one considers trading volume. Indeed, Binance’s trading volume is more than three times larger than its nearest crypto exchange competitor Coinbase Exchange.

In 2019, Binance stated that it was “unable to provide services to any U.S. person" and that it would partner with a U.S. company called Binance.US.

US-based investors trying to access the Binance.com website are now provided the following warning: “Binance is unable to provide services to U.S. users. Binance.US (BAM Trading Services) is a US-regulated cryptocurrency trading platform.”

Binance.US Logo (source: Binance.US)

Binance.US is an online service that offers US-based investors the opportunity to buy, sell, and store cryptocurrencies. In just three years, Binance.US has already become the tenth largest cryptocurrency exchange when one considers trading volume.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. The possibility exists that you may sustain a loss of some or all of your initial investment; therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.