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Binance.US$10PayPal vs Binance.US: fees, withdrawals, safety and which to use
A $1,000 bank-transfer buy costs less with Binance.US at $0, compared with $18 on PayPal.
Fees: PayPal compared with Binance.US
For $1,000, dollar fees for PayPal and Binance.US come from each exchange's own pages.
| $1,000 and the basics | PayPal | Binance.US |
|---|---|---|
| Buy by bank transfer (ACH) | $18 | $0 |
| Buy by debit card | – | $39.90 |
| Buy by wire | – | $0.20 |
| Buy with PayPal | $18 | – |
| Sell and send to your bank (ACH) | – | $0.20 |
| Cash out to your bank (ACH) | – | $0 |
| Cash out by wire | – | $25 |
| States it does not serve | Hawaii | U.S. Virgin Islands, American Samoa, Guam, Northern Mariana Islands, Alaska, Connecticut, Georgia, Maine, Ohio, New York, North Carolina, Oregon, Texas, Vermont, North Dakota, Washington |
| Serves New York | Yes | No |
| Bank withdrawal | – | Free, 1-5 business days depending on the bank |
| NYDFS licence | Yes | No |
| FinCEN registration | – | Registered |
| App Store rating (ratings) | 4.8 (6,299,060) | 4.2 (111,067) |
| Google Play rating (ratings) | 4.2 (3,740,000) | – |
| Coins listed | – | 204 |
A dash means the exchange hasn't published a number for that row; "Not offered" means that method isn't supported.
State availability for PayPal and Binance.US
Locations served by PayPal include U.S. Virgin Islands, American Samoa, Guam, Northern Mariana Islands, Alaska, Connecticut, Georgia, Maine, Ohio, New York, North Carolina, Oregon, Texas, Vermont, North Dakota and Washington. Binance.US doesn't serve them.
Binance.US serves Hawaii, while PayPal doesn't.
Withdrawals from PayPal and Binance.US
The PayPal pages we read don't publish a bank withdrawal fee or time.
Binance.US charges nothing for bank withdrawals, and the transfer takes 1-5 working days, depending on the bank.
Safety of PayPal and Binance.US
NYDFS has issued PayPal a licence or charter for New York.
Binance.US doesn't hold a NYDFS licence for New York.
Apps and coins from PayPal and Binance.US
The PayPal app has an App Store score of 4.8 out of 5 from 6,299,060 ratings and a Google Play score of 4.2 from 3,740,000 ratings.
With 111,067 ratings, the Binance.US app has an App Store score of 4.2 out of 5.
Which should you choose, PayPal or Binance.US?
- Go with PayPal when you want its app and a simple buy screen.
- Choose Binance.US when your plans include Advanced (Spot) Trading, along with its order book.
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