The Binance deadline of September 12 is fast approaching, and the online crypto community is starting to discuss where American Binance users will go until Binance US is ready for launch. According to a comment from Changpeng Zhou – Binance CEO – Binance US should be ready to go live any time between October and the start of the new year, leaving a healthy chunk of downtime for American traders. Crypto traders have been looking at alternatives for the downtime, but which one is standing out as the crowd’s favorite?
KuCoin Looks Like it Could Scoop a Good Deal of Customers
KuCoin looks like it could be the standout option for American Binance traders. Back in June, KuCoin raised a number of eyebrows by listing BNB trading pairs on its platform, and looking back at the move it’s an incredibly smart decision. Binance user will be able to trade exactly as they would on Binance, including their BNB pairings. This factor alone is the reason a great deal of traders from the crypto world are going to be flocking over to KuCoin once Binance axes its American users.
Gemini Might Get Back on Its Feet
When it comes to being safe, secure and fully compliant, Gemini stands out as a surefire option. Unfortunately, due to its strict licensing it’s one of the slowest exchanges to add new trading pairs, and this has forced trader to go elsewhere. On the back of this the Gemini Dollar supply has collapsed more than 91% so far this year, but on the back of Binance culling its US users, Gemini could welcome a new flock of crypto traders, boosting all of its stats. The small range of pairs available will likely prevent a large chunk of traders from making the switch, but it could scoop up traders only interested in the essential cryptos.
Coinbase and BitPanda Will Likely Do Well
It’s without a doubt that a lot of traders will make their way over to Coinbase and BitPanda. BitPanda only recently announced the launch of BitPanda Global, but its European pedigree should be more than enough to woo US customers. On the other hand, there is the crypto trading goliath, Coinbase. With both regular Coinbase and Coinbase Pro on offer, US traders are spoilt for choice. These are two huge exchanges that should pick up a healthy chunk of the traders looking for a new home following the Binance exodus.
With only 9 days remaining until the end of American trading on Binance Global, Americans don’t have long to pick a handful of exchanges and complete KYC – if they wish to trade from day 1 of the ban. Sadly, Binance US still doesn’t have an exact launch date, leading many to wonder how long it will take until they can return to the familiarity of Binance