Binance USA Opens Its Doors Next Week

Binance USA Opens Its Doors Next Week

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The much-anticipated US trader targeted platform from Binance, Binance USA, will begin opening its door to traders from next week.

The news has come at the perfect time for US traders who had previously been going about their day to day trading activity on the generic international Binance platform. This is because after Binance updated their user policy back in June, they had just a 90-day grace period before they would be unable to access Binance’s platform.

As previously reported, it would be a race against time to get the new US platform up and running before the conclusion of this grace period. Well, as of today, 12 September 2019, that period has now come to an end and so, the announcement from Binance that users will only be left high and dry for about a week should soothe any anxiety from traders. Some of which may have already been considering other options with no little news prior to this announcement from the Binance camp.

As previously reported, it would be a race against time to get the new US platform up and running in time to meet the conclusion of this grace period. Well, as of today, 12 September 2019, that period has now come to an end and so, the announcement from Binance that users will only be left high and dry for about a week should soothe any anxiety from traders. Some of which may have already been considering other options with no little news prior to this announcement from the Binance camp.

What Will Binance USA Offer?

The official date for the onboarding process for US users to their new platform will begin on the 18th September. Upon launch, the same matching engine and crypto wallet services will be in place, thanks to a partnership with BAM Trading Services, who will be governing the project. However, they won’t be enjoying the same freedom in trading options as they might have been used to.

The number of trading options will be likely significantly lower than the more than 150 available on the international platform due to their new digital risk assessment framework. Exactly what options there will is unknown currently, but we do know though that Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC) and Tether (USDT) are all available for deposits. As well as this, trading won’t be offered immediately upon launch. Instead, these will be specified at a later date

From what has so far been confirmed by the CEO of Binance USA, Catherin Cooley, the full roll-out of the platform for US players will happen over time.  She has stated that next week’s onboarding, “kicks off our first phase as we gradually roll out access to our digital asset marketplace across America. After trading launches for this first phase, we will be continually adding to the selection of digital assets available for verified users to deposit and eventually trade on Binance.US.”

This doesn’t give too much away about what sort of timeline a full roll-out of the project will abide, nor does indicate that US traders will be able to benefit to the same level as they would be accustomed too on the international Binance exchange. However, it at least confirms progress is being made and there will be an option for traders to still be involved with Binance’s services.

But, will it be enough though to keep traders appeased? With the project seemingly behind on schedule and offering a limited-service, they will have to turn things around quickly if they don’t want to see users turn their back on them.

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