Home Crypto Events Binance.US Shifts to Crypto-Only Trading, Removes USD Pairs for Selected Cryptocurrencies

Binance.US Shifts to Crypto-Only Trading, Removes USD Pairs for Selected Cryptocurrencies

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Binance.US, the US-based subsidiary of the renowned cryptocurrency exchange Binance, has recently announced a significant transition as it moves towards becoming a crypto-only exchange. This strategic shift involves the removal of specific USD trading pairs, focusing on facilitating the trading of cryptocurrencies and stablecoins against each other. The move aims to streamline the trading experience for users and align with the changing dynamics of the regulatory landscape.

Effective immediately, Binance.US will permanently remove several trading pairs that are currently paired with the US dollar. The cryptocurrencies affected by this change include Bitcoin (BTC), Ethereum (ETH), BNB, Litecoin (LTC), Polygon (MATIC), Cardano (ADA), Solana (SOL), VeChain (VET), and the USDC stablecoin.

By removing these USD trading pairs, Binance.US aims to establish itself as a crypto-only exchange, emphasizing the trading of digital assets against other cryptocurrencies and stablecoins. This transition is designed to provide users with a more streamlined and efficient trading experience, catering to the evolving demands of the cryptocurrency market.

It is important to note that trading for the aforementioned cryptocurrencies with USD trading pairs will be discontinued as of the announcement date. However, while the USDC/USD pair will be removed, users will still have the option to trade with USD using the USDT/USD trading pair.

Despite the removal of USD trading pairs for these cryptocurrencies, Binance.US assures users that they will be able to trade over 150 different cryptocurrencies on the Advanced Trading interface using USDT trading pairs. Additionally, certain cryptocurrencies may also support trading with other digital assets, such as BTC, BUSD, DAI, or TUSD.

To ensure a smooth transition, Binance.US advises users to review their current trades and take any necessary actions, such as executing or canceling open orders on the affected trading pairs, before the specified removal date.

The decision to transition to a crypto-only exchange comes at a time when the cryptocurrency industry is experiencing increasing regulatory scrutiny and evolving market dynamics. By focusing solely on cryptocurrency trading, Binance.US aims to streamline its operations and adapt to the changing regulatory landscape, providing a more specialized and compliant trading environment for its users.

It is worth noting that Binance.US has encountered various challenges in the United States, including the loss of banking partners and liquidity providers. While users currently have the ability to buy, sell, and convert cryptocurrencies using USD, Binance.US cautions that its remaining banking partners may terminate USD withdrawal services in the future.

To address previous delays in USD withdrawal requests, Binance.US has worked closely with its banking partners to resolve these issues. The exchange assures users that it will strive to process most USD withdrawal requests within the normal timeframe of five business days or less.

As Binance.US embarks on its journey as a crypto-only exchange, it is crucial for users to stay informed about any updates or changes from the platform. By following the instructions and recommendations provided by Binance.US, users can navigate this transition smoothly and continue to engage in cryptocurrency trading within the evolving regulatory landscape.

The transition to a crypto-only exchange reflects the maturation of the cryptocurrency industry and the need for exchanges to adapt to meet the demands of users while complying with regulatory requirements. By providing a focused trading experience centered around cryptocurrencies and stablecoins, Binance.US aims to enhance user experience and maintain its position as a leading platform in the ever-evolving crypto landscape.

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Evie

Evie is a blogger by choice. She loves to discover the world around her. She likes to share her discoveries, experiences and express herself through her blogs.

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