By
Steve Muchoki
May 10th, 2024
Users of the Binance.US app for Android, who provide feedback to the exchange’s helpline, will have a chance to win a Binance.US-branded hoodie.
Just in time, before the new year has started, Binance said that its crypto exchange for United States-based users, Binance.US, is now available for beta testing on Android devices.
In a tweet published on Christmas, the U.S. subsidiary encouraged its users to engage in the beta test of the crypto trading application on Android devices. Through this test phase, users will be able to ease some issues for Binance.US.
For example, users will be able to help in identifying eventual bugs and together work them out with the company before the application goes to public a.k.a. launches for a bigger audience.
Ready to open up a gift? 🎁https://t.co/AZwoBOgsqS now available on Android for App BETA Testing!
Download at @GooglePlay Store Today: https://t.co/vVuwOlWhNi
Send your feedback to @BinanceUShelp for a chance to win a @BinanceAmerica hoodie! pic.twitter.com/GnloO3DykL
— Binance.US 🇺🇸 (@BinanceUS) December 25, 2019
Binance.US already had announced its beta test phase for iOS users before. On December 18, beta testers were positioned in order to use the app over a specific period of time. The period of testing also includes reporting back any flaws or related issues and giving feedback about the app as well. After that is done, Binance.US will decide if the application is finally ready for full release.
Binance.US Broadens Its Offerings
In recent months, Binance.US worked pretty hard on broadening its offerings. In November, the exchange announced it will allow its users to purchase cryptocurrencies using their debit cards. Binance.US confirmed that it would start offering its customers the possibility to buy cryptocurrencies using a debit card, joining existing U.S. dollar off-ramp and on-ramp. This will also include the automated clearinghouse (ACH) and bank wire.
A few days later, there was an announced partnership of Binance.US, and Tagomi, an institutional investor-focused brokerage, to provide liquidity for its cross-exchange trading platform. The partnership is said to offer Tagomi’s users, namely quant funds, venture funds, family offices, IRAs and HNWI, increased access to the marketplace’s select trading pairs.
Marc Bhargava, President of Tagomi then said:
“Few countries can rival the liquidity and demand of U.S. markets. Large funds, venture capitalists and family offices in the U.S. need secure access to participate in the crypto market as global players. Binance.US is tilting the odds in their favor by offering Americans broader asset exposure.”
Catherine Coley, CEO of Binance.US added:
“Binance.US is focused on lowering the barriers to entry and cultivating a new class of crypto investors. Institutional traders in the U.S. present an outsized demand that is currently not being met. Our partnership with Tagomi falls directly in line with our mission to make the U.S. a global leader in the growth of the digital asset market, while also helping educate new and sophisticated traders on the wealth of opportunities cryptocurrencies present, well beyond simple investment vehicles.”
Huobi US Failed to Spark Trading Interest
Meanwhile, the operator of U.S.-based crypto exchange Huobi, HBUS, also recently said that it would terminate operations. The move was made in the wake of Huobi Global’s announcement that it would freeze all U.S. customers’ accounts by mid-November. The thing was, that the trading volumes on HBUS fell to approximately $220,000 per day. This presents a total bottom level that maybe could be explained if there was some smaller-scale exchange involved. HBUS carried only a conservative selection of 56 pairs, as some assets were withdrawn from U.S. traders due to local security laws.
We’ll just mention again that at the same time, Binance.US has more than $2.94 million in volumes. In the past, up to 30% of international Binance volumes came from the U.S., but the new market does not reflect that level of interest.
During this year, American buyers have been restricted from most international markets, and have lost access to numerous coins and tokens.