Binance.US, a leading cryptocurrency exchange catering to US-based users, recently announced the restoration of its services for USD deposits and withdrawals after an almost 18-month hiatus. This news comes as a relief to many who had been eagerly awaiting this reinstatement, as it allowed them to move their funds in and out of the platform's wallet easily.
The suspension was primarily due to legal issues that hindered Binance.US from providing its services seamlessly to US customers. However, with the recent announcement on February 19th, 2025, the exchange has taken a significant stride towards regaining the trust and loyalty of its user base by reopening USD deposits and withdrawals. This development is especially notable as it affects users looking to convert their digital assets into US dollars or vice versa.
For Binance.US customers who wish to withdraw their money in USD, there are several options available. One of these methods involves the use of bank transfer (ACH) for both deposits and withdrawals. This process allows users to link a valid US bank account with their Binance.US account for seamless transactions without any associated fees.
Moreover, Binance.US has introduced a new feature that makes withdrawing USD even more accessible and convenient for its customers. The platform now provides detailed guidance on how to cash out balances from the Binance.US wallet directly into a US bank account using ACH (Automated Clearing House) transfers. This step-by-step process ensures that users can easily execute their withdrawal requests, provided they have already verified their accounts and added a valid US bank account for this purpose.
It is crucial to mention that before initiating any withdrawal, Binance.US urges its users to confirm if they satisfy the requirements stipulated by the platform. These requirements often involve the addition of and verification through an ACH bank account. Once these are met, customers can proceed with their withdrawal requests without additional fees.
The restoration of USD deposits and withdrawals is not only a critical milestone for Binance.US but also signifies its commitment to user satisfaction and trustworthiness within the cryptocurrency market. This move demonstrates Binance's dedication to ensuring that US-based users can seamlessly access all features, including buying, selling, and trading cryptocurrencies as well as converting between digital assets and USD.
Furthermore, it is worth noting that for eligible digital assets such as BTC (Bitcoin), ETH (Ethereum), ADA (Cardano), BNB (Binance Coin), LTC (Litecoin), MATIC (Polygon), SOL (Solana), VET (VeChain), USDC (USD Coin), and USDT (Tether USD), users will only be able to access the USD Advanced Trading pairs. Binance is encouraging its community to engage in these trading options while ensuring that the platform remains compliant with all regulatory requirements governing cryptocurrency exchanges within the United States.
In conclusion, the restoration of USD deposits and withdrawals on Binance.US marks a significant turning point for the exchange. This reinstatement of services not only eases concerns about liquidity constraints but also reaffirms Binance's commitment to catering to US customers efficiently. By providing transparent guidance for users looking to cash out their balances, Binance.US has positioned itself as an accessible and user-friendly platform for trading cryptocurrencies while adhering to legal standards and regulations set forth by the United States government.