I was hoping to get into Binance’s DeFI USDT Index, which I think is through Binance Futures. I’m having trouble finding a definitive answer. However, I’m a US citizen. Can US citizens/residents trade on Binance Futures?
no, maybe at a later time since the US version of Binance is fairly new and has to operate to specific US standards which may change later; there’s going to be ETH futures on CME 2/4/21 in addition to BTC futures so hopefully sooner rather than later.
As the world is moving towards digitization, payment, and investment options are also changing rapidly. As the world’s 25% of the population is Muslims, it becomes important to know this fact. The biggest debate that is going on is whether cryptocurrency is Halal or Binance Haram? If you are also planning to buy cryptocurrency, don’t worry, we have done the complete research for you.
We’ve already discussed deposit and btc withdrawal fees; you can refer to those in the sections above. If you can’t find a suitable cost for your currency and payment method, a complete list is available on the Binance website for both.
Due to only having suffered one major hack each, both are considered secure exchanges. In addition to Malta, KuCoin is headquartered in Singapore, while Binance has its HQ in Japan, Seychelles, Hong Kong, Cayman Islands, and more. Both Binance and KuCoin originated in China but relocated because of regulatory constraints. Once again, a close call.
This will vary depending on your value. Binance charges spreads when you convert cryptocurrencies, and this is above the market price. It differs a little from Coinbase, binance which, for example, charges between 0.5% and 2%.
Cryptocurrency is considered haram if someone is used for investment or trading. You should be careful with what you are doing with your digital currencies. If you are leveraging them for gambling or investing in the stock market for earning profits is a sin and Sharia laws have defined it as haram.
In addition to crypto cards, lending, staking, savings, P2P markets, margin, futures trading, and trading bots, they also have almost all the features of Binance. Essentially, btc KuCoin acts like Binance for the masses.
GAS withdrawal fees are also zero. If your withdrawal request is less than CURRENT FEE * 100000, then the withdrawal will be processed automatically. It usually takes seconds to complete. Trading fees: 0.1% of your purchase price (KuCoin charge) Fees for deposits: zero. BTC withdrawal fee, for example, is 0.0005, so if you cancel less than 0.0005*100000=50 BTC, your request gets fulfilled quickly. Withdrawal fees: Each crypto-asset carries a different fee. Both decrease to 0.08% if you pay in their native currency (KCS). You need to hold 1000 KCS or trade a total of 50 BTC in the preceding 30 days to claim the next fee level. An example of this would be the 0.001 BTC withdrawal fee. NEO withdrawal is free.
Despite that, business models such as theirs are bound to grow and binance futures become giants in the industry. From the customer’s perspective, this is both good and bad. Both options are safe. To avoid strict regulations, both exchanges operate in grey areas of law and are not regulated. The lack of regulation will lead to fewer safety procedures to keep your money safe, and the more profits they will generate will reduce the chance of them going bankrupt.
All symbols are supported, the file format is: /data/spot/monthly/klines///—.zip.
The deposit fee: The deposit fee is zero. GAS withdrawal fees are also zero. If you withdraw NEO with a minimum withdrawal, you will be charged a fee of 0. Trading fees: The trading fee is 0.1%. We adjust withdrawal fees based on blockchain conditions regularly. Withdrawal Fee: A minimum withdrawal amount is required for each coin, and a different withdrawal fee applies. A Bitcoin (BTC) withdrawal involves a minimum of 0.002, while transactions cost 0.001 BTC.
KuCoin’s marker/taker fee is 0.02%/0.06%, compared to Binance’s fee of 0.02%/0.04%. This comparison showed that Binance was the clear winner. Binance is the best provider for futures, no matter what tier you choose.
Many cryptocurrencies will offer spreads, and in some instances, these are a way to charge no commissions. While Binance charges instant buying and selling fees, both of which are 0.5%, you will only have to pay spreads in limited instances.
On KuCoin, there are currently 700 cryptocurrencies traded. The number of derivative exchanges is much lower, out of the top 20. KuCoin ranks 6th based on spot trading volume with a daily trading volume of about $1.5 billion.
Cryptocurrencies are Haram if you are using it for unlawful activities like gambling and other similar practices. Even if someone is using cryptocurrency for purchasing Haram products like alcohol, accessing pornography, or anything that violates Sharia laws are Haram and a Muslim should not practice it.