{"id":395798,"date":"2019-09-11T19:00:05","date_gmt":"2019-09-11T19:00:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=395798"},"modified":"2024-06-11T13:25:19","modified_gmt":"2024-06-11T13:25:19","slug":"binance-alternatives-for-us-based-altcoin-investors-and-crypto-traders","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/binance-alternatives-for-us-based-altcoin-investors-and-crypto-traders\/","title":{"rendered":"Binance Alternatives for US-Based Altcoin Investors and Crypto Traders"},"content":{"rendered":"
Tomorrow, Binance will close trading and deposits for US-based crypto investors<\/a> and traders, cutting off access to much of the altcoin market.<\/span><\/p>\n And while that\u2019s likely a positive thing for crypto investors who have been burned by altcoin assets in the past, there are a number of alternatives US-based traders can visit to get a fix of the altcoin trading action.<\/span><\/p>\n After tomorrow, the largest portion of the population of crypto traders, responsible for as much as 43% of market activity, will be barred from making deposits or making any trading on Binance<\/a>, the world\u2019s largest cryptocurrency exchange.<\/span><\/p>\n Related Reading | PSA: Only 48 Hours Remain for US Crypto Investors to Trade on Binance<\/a><\/strong><\/em><\/p>\n Binance currently offers a few hundred different altcoin assets, ranging from common major cap coins like Ethereum<\/a>, Litecoin<\/a>, and Ripple<\/a>, to more obscure altcoins such as Ethos, Ripio Credit Network, or Storj.<\/span><\/p>\n However, when Binance ushers US-based investors over to their new Binance US<\/a> counterpart, potentially as few as 30 different coins could be listed<\/a> and that includes Bitcoin among the number.<\/span><\/p>\n https:\/\/twitter.com\/teddycleps\/status\/11764736?s=12<\/p>\n As regulation spreads across the crypto market, fewer and fewer crypto exchanges are allowing users from different countries trade on their platforms. As of now, the only exchange that still offers some of the more exotic altcoins that and also still allows US-based investors to trade altcoins on their platform is Kucoin, according to crypto traders. However, given the fact that regulation should only increase further, there are still many risks associated with trading on platforms outside of the US, or trading altcoins that could potentially be deemed as securities in the future.<\/span><\/p>\n The next best option for crypto traders is to stick with one of the US-based crypto exchanges, such as Coinbase, Gemini, Kraken, Huobi US, Bittrex, and Poloniex. While these platforms lack as large of a catalog of altcoins \u2013 far less than the 30 that Binance US is considering<\/a> \u2013 they do offer crypto traders from the US an added layer of safety and security.<\/span><\/p>\n The assets listed on Coinbase, for example, are known to comply with US law and have been extensively vetted by Coinbase\u2019s team in accordance with regulatory guidelines established by the SEC and other government entities.<\/span><\/p>\nWhere Can US-Based Crypto Traders Still Invest in the Altcoin Market?<\/span><\/h2>\n