Reflecting on our commitment to security, transparency, and customer protection.
In today’s crypto environment, it's more important than ever to know who you can trust to securely manage your funds. As 2022 winds down and we reflect on the challenges the industry has faced in the last year, we wanted to reassert our commitment to transparency and security by highlighting some of the most important things we do to ensure your crypto journey remains safe and secure on Binance.US.
Not all crypto platforms are built the same. It’s incredibly important to know what to look for when you’re evaluating a platform for the first time.
Binance.US was built from the ground up to serve U.S. customers and adhere, at every level, to the strictest U.S. regulations. We’re proud to leverage industry-leading security controls throughout our platform and apps, including the same Binance-licensed technologies that protect more than 120 million people worldwide who rely on Binance.com. Our operational security and systems are subject to regular, on-going audits by leading private and government entities.
We’ve always prioritized how we secure our customers’ assets and information, and we continuously engage with third party experts to validate our platform and processes. Our platform and processes are compliant with Service Organization Control (SOC 2) and Payment Card Industry Data Security Standards (PCI DSS) to ensure we meet or exceed international standards for transparency and accountability. As a Money Services Business (MSB) registered with the Financial Crimes Enforcement Network (FinCEN), Binance.US is subject to the same FinCEN requirements as traditional financial services platforms. We also align to National Institute of Standards and Technology (NIST) and Center for Internet Security (CIS) cybersecurity frameworks.
Security is our top priority
We want our users to be able to invest their assets with peace of mind. Here’s what you should know about our standards and best practices:
- Binance.US was created to adhere to strict U.S. regulations. We never touch, trade, or lend your assets in any way.
- For all customer funds that are held on the Binance.US exchange, we always maintain 1:1 reserves. These funds are available to be withdrawn at any time.
- We are licensed in the U.S. with 43 Money Transmitter Licenses (or the statutory equivalent) and counting. Separately, we are regulated by FinCEN as a money service business or MSB.
- Binance is subject to regular audits by leading private and government entities.
- Binance.US maintains an industry-leading security program to keep your funds protected.
- We do not undertake proprietary trading, offer margin or take on any corporate debt.
- Our commitment to security starts internally. Our leadership teams have 30+ cumulative years of Department of Justice, SEC, and New York Federal Reserve Bank experience.
We believe that our traders need to know this information so that they can make informed decisions about who to trade with and where to stake their assets.
Protecting your data and personal information
We protect our users’ data by utilizing industry-leading technical controls to ensure that information is safely encrypted both in storage and in transit. This comprehensive end-to-end security secures all personal data that enters through our platform.
Binance.US implements strict verification protocols to confirm the identity of those looking to trade on our platform. While the most straightforward and streamlined in the industry today, these protocols keep our exchange, and your assets, secure.
Additionally, users looking to access all of the features that Binance.US has to offer must pass through advanced verification, further confirming their identity and keeping our exchange safe from larger exploitations.
We also require all of our users to implement at least one method of 2-factor authentication (2FA) on their accounts to provide an extra layer of security. 2FA protects funds and sensitive information by requiring both a unique password and a one-time code unique to each user in order to sign-in. These kinds of security measures are built with our customers’ safety in mind and aim to prevent bad actors from entering our exchange.
Industry-leading security tools available to all customers
We want to empower our users to take charge of their security. In addition to the many security features we offer all customers, we have made additional tools available to enable users to set up access controls, secure inbound communications, and whitelist IPs.
Set up access controls
The Device Management feature allows users to select what devices are able to access your account. Users have the ability to add or remove devices should one be lost or stolen.
Secure inbound communications
In today’s digital world, phishing attempts are all too common. Binance.US makes use of an Anti-Phishing Code feature that users can turn on from their Security Dashboard. This allows users to set a unique password or code that appears on the top of all inbound email communications from Binance.US, ensuring that the email is indeed coming from us and not a potential hacker.
Withdrawal Addresses allows users to save and write memos for each of their withdrawal addresses. Able to be configured on the Security Dashboard, this optional feature helps to protect personal funds by only allowing withdrawals to whitelisted addresses.
All of these security features and protections can be toggled at our users’ discretion, furthering our commitment to build the most customer-centric organization available in the Web3 space.
Building a trusted staking platform
Binance.US doesn’t stop at securing users’ crypto wallets; we are also committed to protecting their staked assets. As the largest major staking provider in the U.S, we are dedicated to providing a safe and secure platform for our users to stake with.
First and foremost, Binance.US has never and will never use deposited funds for any other purpose, including lending or collateral provision, no matter which asset is staked with us. All assets that are staked remain our customer’s assets. Furthermore, all of the assets that pass through our staking platform are staked from cold storage. Rewards that are earned while staking are passed on to our users via blockchain validation, without leverage or loan structures.
Your security is our top priority
While the crypto space is an exciting new frontier, we know how important it is for you to feel safe and confident when it comes to choosing your platform. That’s why we honor our commitment to offer secure and transparent services while maintaining the highest levels of security standards.
To enjoy our many security features and get started on Binance.US, click here.
Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice, we make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.