Does Binance Work In Texas?

Last Updated: Dec 12, 2022

Binance Does Not Work In Texas – Try These Altcoin Exchanges Instead

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Unfortunately, Binance and Binance.US do not allow Texas residents to open accounts. Here is their official statement if you want to check it out. The best low-cost alternatives with lots of coins are Kraken, Gemini, and KuCoin.

Read this post to learn more about Binance.US, when it's coming to Texas, and what you should use instead in the meantime.

Best Binance.US Alternatives

Kraken

Best Overall

  • 120+ cryptos
  • Fund & withdraw USD
  • 0.16%/0.26% trading fees & high volume
  • Staking rewards
  • Operating since 2011
  • Easier apps available for beginners
KuCoin

Best for Altcoins

  • 700+ cryptos
  • Optional KYC
  • 0.10% trading fees & high volume
  • Margin & advanced trading
  • Most features overall
  • No fiat pairs (deposit crypto)
  • Not a good fiat on/off ramp
Gemini

Runner-Up

  • 90+ cryptos
  • 0.20%/0.40% trading fees
  • Fund & withdraw USD
  • 10 free withdrawals per month
  • Confusing fees & high fees for beginner trading
  • Controversy with Gemini Earn

Who Can Use Binance.US?

Binance.US is available in all US states except for Texas, Hawaii, New York, and Vermont.

Binance.US Key Features

  • 130+ Cryptocurrencies - Trade Bitcoin (BTC), Ethereum (ETH), and other top altcoins.
  • Low-Cost Trading - Free BTC and ETH trading and then 0.10%/0.20% or 0.40%/0.60% depending on the coin. Plus, low spreads. Binance is one of the cheapest platforms for US investors to buy cryptos.
  • Free US Deposits & Withdrawals - Fund or cash out USD with ACH or Domestic Wire. Users also have the choice with Debit Card or Apple Pay but it has higher fees.
  • Advanced Trading Features - Real time order books, charting tools, OTC, and more.
  • Staking for 20+ Cryptos - Earn interest on crypto that you're already holding. Binance.US supports staking for 20+ coins like ADA, SOL, BNB, ETH, and more.

Best Binance.US Alternatives

1. Kraken

  • Best Overall
Kraken Web App Home

With over 120+ cryptos, USD funding and withdrawals, and high trading volume, Kraken is a great Binance.US alternative for American investors needing a high-quality crypto exchange.

Kraken has a maker/taker fees of 0.16%/0.26% which is higher than Binance's 0.10%. However, Kraken does have good trading volume and offers many advanced trading features, staking, and more.

When it comes to safety, Kraken has been operating since 2011 and is considered one of the best right behind Binance and Coinbase. It is based in California and is regulated in every country it operates in, including the United States.

2. Gemini

  • Runner Up
Gemini Exchange

Gemini is a New York-based and US-regulated crypto exchange with 90+ cryptos, beginner and advanced trading, and other features like a crypto reward card, staking, and more. 

While Gemini has industry leading security, their Earn program is at risk of a $800 million loss due to the FTX contagion. However, it does not appear to effect the rest of their products. Another downside is Gemini has higher fees and a confusing fee structure. The cheapest way to use Gemini is to trade through their ActiveTrader (advanced trading platform) which has 0.20%/0.40% maker/taker fees.

If you want a very easy to use platform that is highly regulated in the US with 90+ cryptos, Gemini is a platform to consider. It also has 10 free withdrawals per month and supports US deposits and withdrawals making it easy to turn your fiat into crypto.

3. KuCoin

  • Best for Altcoins & Features
KuCoin Website Homepage

If you want the most altcoins and features that aren't available on US exchanges, KuCoin will be your best Binance alternative since it has 700+ altcoins, 0.10% trading fees, high trading volume, and lots of advanced features. It's also one of the largest crypto exchanges in the world by trading volume so it has low spreads.

KuCoin has many good things going for it but it does not have USD trading pairs so you will need to fund your account with crypto if you want low fees. So to use KuCoin, you will still need a fiat on-ramp like Kraken or Gemini so you can buy crypto with USD and then transfer it to your KuCoin account.

It's also important to note that KuCoin is considered a safe platform in the crypto industry, but it's based in Seychelles and is unregulated in the USA. This is why it's able to offer all these amazing features.

All this aside, KuCoin has 30 million users, more features than US-based crypto exchanges, and lets you sign up in 30 seconds with just an email address. Users can withdraw up to 1 BTC every day without KYC making it very easy to get started. Use the link below to get up to a $500 welcome bonus and 10% discount.

FAQ

Is Binance Different From Binance.US?

Yes, Binance and Binance.US operate as two different companies. Binance.US has far less altcoins and features than Binance, but it's regulated in the USA and its headquarters are in California.

When Is Binance.US Coming To Texas?

I have not found any official statements yet. You can sign up and follow Binance.US announcements here.


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