The exchange also sought to reassure customers that they are still able to use their credit or debit cards to buy or sell cryptocurrencies and that any payments to or from third-party exchanges would still be processed.īinance currently operates exchanges in more than a hundred countries including Canada, Australia, Egypt, Italy, Israel and France, according to its official website. “Please be advised that until we are able to find an alternative solution, you may not be able to use your bank account to buy or sell crypto with USD via SWIFT with a value of less than $100,000 USD after February 1st, 2023.”īinance implicated in the Bitzlato case as the firm's top-receiving counterpartyīinance noted that SWIFT-based transfers would remain in operation for non-USD bank transfers, such as the Euro, and that the change won’t impact corporate accounts. “This is the case for all of their crypto exchange clients,” the letter from Binance said. 1.īinance wasn’t the only crypto firm affected by this decision, as Signature Bank stated that all of their crypto exchange clients are subject to the same minimums as the bank attempts to decrease its exposure to the digital asset market, according to Bloomberg. 21, the exchange’s SWIFT transfer partner Signature Bank informed the firm that it would only be able to process fiat transactions of more than $100,000 beginning on Feb. This is the second notable banking challenge related to U.S. Some setbacks were expected from last year's incidents. That said, CZ acknowledged “that this is still a bad user experience and the team is working on quickly resolving this issue.” He went on to add that “While some banks withdrawing support for crypto, other banks are moving in. Unless you see an official message from Binance.US, our customers will not be affected.”īinance CEO Changpeng “CZ” Zhao also took to Twitter to minimize the impact of this announcement, telling users that “It is worth noting that USD bank transfers are leveraged by only 0.01% of our monthly active users.” branch of the exchange assuaged those concerns by highlighting that Binance and Binance.US are separate entities, and reassuring them that “Binance.US is not affected by this suspension. U.S.-based crypto traders who utilize the services offered by Binance.US were quick to respond to the announcement asking if they too would be affected. All other methods of buying and selling crypto remain unaffected.” dollar transactions, but simply added that “Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible. The exchange offered no explanation for the halt to U.S. 8, according to a Twitter post the company made on Monday. dollars for its international exchange beginning Feb. (Kitco News) - Binance, the world’s largest cryptocurrency exchange, announced that it will be suspending deposits and withdrawals of U.S. Keep in mind that exchange fees might apply.Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.

If that’s not possible, you can sell Binance Coin for a different cryptocurrency (a stablecoin like USDT or USDC is recommended) and use the proceeds to buy Tether. The most convenient option is to use the BNB/USDT trading pair.

The easiest way to sell 0.01 BNB for USDT is to convert Binance Coin to Tether on Binance Futures. Example: convert 15 Bitcoin to United States Dollar: 15 Bitcoin 15 × 36505.29549467 United States Dollar 547579.43242005 United States Dollar. 1 United States Dollar 2.73933E-5 Bitcoin. Keep in mind that exchange fees might apply. 1 Bitcoin 36505.29549467 United States Dollar. If the pair is not available, you can convert Tether to a different cryptocurrency (a stablecoin like USDT or USDC is recommended) and use the proceeds to buy Binance Coin. You can do so by using the BNB/USDT trading pair. The easiest way to buy 0.01 BNB with USDT is to convert Binance Coin to Tether on Binance Futures. To see the latest exchange rate, Binance Coin historical prices, and a comprehensive overview of technical market indicators, head over to the Binance Coin page. The price is calculated based on rates on 85 exchanges and is continuously updated every few seconds. The current price of 0.01 Binance Coin in USDT is 2.30 USDT.

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