Binance Bans USA Users Beginning September 12

So you probably have heard by now that Binance.Com, the most popular and most widely used Cryptocurrency exchange recently announced they are banning USA users beginning September 12 of 2019.

This is in response to the Financial Action Task Force (FAFT) recommending new rules regarding cryptocurrency to participating countries.

While many users say they’ll continue to use Binance with a VPN, or will move to decentralized exchanges, that could be a risky proposition. If a users VPN fails, if they are mindless and forget to login with their VPN and use a US based IP address even once, the account will be banned, and they’ll likely have their money tied up. If they get it back it will likely be a huge headache.

That leaves many crypto traders interested in holding and trading Binance’s BNB Coin along with many other cryptocurrencies looking or alternative exchanges. While Binance has announced they’ll be rolling out a Binance.US, it won’t be anything like Binance.Com. It will likely look more like Coinbase with a handful of coins as the USA considers many if not most altcoins securities. Bittrex for example recently delisted 44 coins and is likely to delist even more.

This leaves many crypto and altcoin traders looking for alternative exchanges. Two such exchanges are Kucoin and Gate.io. While not quite as good as Binance in terms of volume, user interface, or selection of coins, they are the next best options. Both have been around for quite some time and are trustworthy. Both have not made any statements about banning US users. Both have decent trading volume and a nice selection of coins. And lastly, and what many if not most former Binance users are probably wondering about is, do they list Binance’s BNB Coin? The answer to that is yes they do. Gate has been trading it for a few weeks and Kucoin actually introduced it today June 19, 2019.

If you’re looking for an alternative to Binance these are two exchanges to consider and it wouldn’t be a bad idea to sign-up for both if for no other reason as to keep them on the backburner as back-ups.

Kucoin Sign-Up

Gate.io Sign-Up