When it comes to the trading volume, Binance is one of the largest cryptocurrency exchanges in the world. With many great stories about people getting rich by trading on the platform, many Texans are starting to think about joining in on the trade themselves. However, is Binance available in Texas?
Binance is not available in Texas or anywhere else in the US as it was banned after failing to comply with the country’s laws and regulations. While the platform’s parent company made an American version of the exchange called Binance.US, it too isn’t available in the Lone Star State.
You Won't Believe What Happens When You Click This Link - Earn THOUSANDS in FREE Crypto Now! 🤑
This crazy new website is giving away FREE cryptocurrency like Bitcoin and Ethereum just for completing simple surveys, offers, and watching videos! All you have to do is click the link below, sign up for a free account, and start earning points towards REAL crypto rewards!
Some users are reporting earnings of over 5,000 points (worth up to $50!) credited in just minutes after signing up. That's right, you can get PAID to browse the internet! 💰
Don't miss out on this limited time opportunity to score BIG on free crypto! Click below and join now before it's too late.
Act fast - this is too good to be true!
While not having access to one of the world’s biggest exchanges may put off some Texans from investing in cryptos altogether, there are still a few platforms that are legally allowed to trade digital currencies in the state.
As of early 2022, Binance is still not available in Texas. However, the same can be said for the rest of the US, as the platform was officially banned in the country in 2019 after failing to comply with government regulations.
Since the company wanted to continue its cryptocurrency trading operations in the country, the ban has led to the development of a completely separate version of the exchange called Binance.US. However, while the newer platform was designed to comply with US laws and regulations, it too was banned in six of the fifty states, including Texas.
The bottom line is that both versions of the exchange are illegal in the State of Texas. However, it’s also important to note that the number of states banning Binance.US was lowered from thirteen to six in the years following its inception, meaning there’s still a chance that the platform might become available in the Lone Star State at some point.
I wouldn’t get my hopes up, though, as the US Department of Justice recently conducted an investigation against Binance for tax evasion and money laundering. Considering the company’s current reputation, it’s very unlikely that any new states will be pulling their bans any time soon.
While using a VPN will allow you to get on the platform, I would advise you not to do it. If the developers find out you’re bypassing their geoblocking technology with a VPN, they can terminate your account for breaking their terms and conditions. More importantly, you potentially risk losing all the rewards and resources you’ve put into the platform.
Although accessing Binance with a VPN alone isn’t technically illegal, let’s not forget that the platform is banned in the US. While there haven’t been any public cases regarding illicit trading crypto so far, using the platform in this manner will certainly put you on the authorities’ radar.
If you’re still insisting on using the platform and are willing to accept all the associated risks, look for a premium VPN that can work on all your devices and won’t be easily detected by Binance developers.
Although you won’t be able to access Binance or use any of its features legally, there are still several exchanges that you can use in Texas. If you still want to participate in the cryptocurrency trade in the Lone Star State, here are some of the best platforms to get on:
- Coinbase – Considered to be the best exchange out there, Coinbase is also one of the more accessible platforms for newcomers just getting into the crypto trade. The platform supports over 100 currencies while offering its users several payment methods.
- Coinbase Pro – As a separate, more advanced version of the previous platform, Coinbase Pro provides users with even more payment options and cryptocurrencies. It also adds several advanced features, making it an excellent choice for those already well-versed in the trade.
- Gemini – This New York-based platform comes with an easy-to-use intuitive interface, making it a solid pick for both newcomers and experienced traders.
- Bitcoin IRA – Although not technically an exchange, this platform provides investment services that allow you to invest your savings into cryptos without having to participate in the process directly.
- Swan Bitcoin – If you’re looking to acquire some Bitcoins, this platform allows you to set up recurring purchases, which will automatically be drafted from your credit card or bank account at the appointed interval.
While some platforms are certainly better than others, everyone has their own needs and preferences that need to be taken into account. If you need help choosing or want a better way to compare all the platforms I just mentioned, take a look at some of their pros and cons in the table below.
|Coinbase||– An easy way for newcomers to get bitcoins|
– High liquidity and buying limits
– “Instant Buy” option available with a debit card
|– Coinbase may track how and where you spend your bitcoins|
– Purchases made with bank transfers can take up to 5 days to complete
|Coinbase Pro||– Possible to buy bitcoins for 0% fees|
– Some of the lowest fees available for US and EU customers
|– The user interface can be confusing for first-time buyers|
|Gemini||– Buy coins quickly with Instant deposits (but not withdraw them)|
– Trustworthy and regulated exchange
– Some of the lowest fees in the US and Canada
|– Not yet available in all US states (important when moving)|
– Somewhat confusing to use for new buyers
|Bitcoin IRA||– Easy to set up an account|
– Tax-Advantaged Bitcoin Savings
|– Cannot custody the Bitcoin yourself|
|Swan Bitcoin||– Very low fees|
– Easy to set up
– Automated dollar-cost averaging
|– No way to sell on the platform|
– The first purchase takes a while
Is Trading Bitcoin, Ether, and Other Cryptocurrencies Worth It?
With all the regulations preventing the unrestricted use of many exchange platforms in Texas and the US in general, many have doubts about whether trading in cryptocurrencies is even worth it. Although Bitcoin, Ether, and other cryptos may serve as an excellent long-term passive income, you still need to consider all the pros and cons of digital currencies before making a significant investment.
If you’re financially stable and willing to take all the risks that come with the trade, feel free to put some of your money into one of the numerous blockchains on the market. However, those not ready to confront potential losses that come with this market might want to look for a safer investment.