Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. Binance was founded in 2017 and is headquartered in Malta.
Binance US is a subsidiary of Binance and is based in San Francisco, California. As of October 2019, Binance US does not allow trading for residents of New York or Washington state.
The US dollar is the official currency of the United States of America. The US dollar is also the currency used on the majority of exchanges for trading cryptocurrencies.
However, Binance does not accept deposits in US dollars or allow withdrawals in US dollars. This means that US customers cannot use Binance to buy or sell cryptocurrencies with US dollars.
US customers can still use Binance to trade cryptocurrencies. However, they will need to first convert their US dollars into a supported cryptocurrency, such as Bitcoin (BTC) or Ethereum (ETH).
They can then use this cryptocurrency to trade on Binance. When they want to withdraw their funds, they will need to convert their cryptocurrency back into US dollars.
Overall, US customers can still use Binance to trade cryptocurrencies; however, they cannot deposit or withdraw in US dollars on the platform. They will need to first convert their USD into a supported cryptocurrency like BTC or ETH and then use this crypto to trade on the platform.
When ready to withdraw their funds, they can then convert their crypto back into USD.