Binance.us is a sub-platform in Binance that provides trading of crypto and other digital assets for users in the US. It announced a new listing that will happen today.
Tezos token (XTZ) will be available for trading on “Monday, March 16th, 2020, at 9:00 am EST / 6:00 am PST”, according to the exchange’s official announcement. Depositing XTZ is now available, and users can deposit the token or other currencies like BUST or USD to start trading soon.
Tezos (XTZ) will be available for trading in XTZ/YSD and XTZ/BUSD in the Binance.us platform. The withdrawal is not currently active, and users can withdraw their Tezos once the trading starts.
How to start trading
There are some recommendations for users willing to trade with XTZ in Binance.us. They initially have to pass advanced verification, which is part of the Binance legal procedure for US citizens. Then the user has to pass fiat verification.
Binance has three levels of verification for users willing to trade in crypto and fiat currencies. Basic Verification only enables the user to trade crypto-crypto pairs. The deposit and withdrawal are limited to $5,000 daily.
Advanced Verification is the nest level that pushes the limit for deposit and withdrawal of cryptocurrencies to $1,000,000. The highest level verification is Fiat Account Verification that allows deposit and withdrawal of USD and trading fiat-crypto pairs.
All three levels of verification in Binance.us nee approved personal information like social security number alongside the actual first and last name. But the highest level has more strict rules for verifying the account.
The user has to answer to some questions about “Purpose of Account, Source of Income, Association with Prime Trust, Anticipated Volume Fiat Deposits & Withdrawals, Anticipated Number of Fiat Deposits & Withdrawals,” according to Binance subreddit.
Binance users in the US have to set up a payment method before depositing and withdrawal of USD. There are thee methods available right now: debit card, ACH, and wire payment. Besides, Binance provides FDIC insurance coverage for all USD deposits.