Topic: All Binance users are now subject to immediate KYC verification - page 3. (Read 325 times)
Crypto exchanges will have to demand KYC from all their users in the future. Because they are audited by governments. They can't hide anything and I can't say that they even care about it. They just want to make sure that every account is real and belongs to a unique person. This helps them find the people who are laundering money etc. easily. But it also changes the important things about Bitcoin which is anonymity. But people don't have another choice if they really want to trade with cryptocurrencies.
So for old traders, they can still use binance but with reduced limits.
in fact this measure is for all users, if you read this part you will see this:
There already is a crypto casino that does KYC, it's called crypto-games, though I don't think it's mandatory for everyone yet. The era of anonymous crypto services has been disappearing for a long time already, the governments were never going to ignore crypto completely. So you can't really blame Binance here for spying on you, they have no choice, it's either they do KYC or they get banned in most countries in the world.
Governments haven't started chasing online casinos luckily yet, but a few years from now we're going to have a really bad time with KYC in casinos. I did KYC in binance years ago and I have no problem doing KYC, my problem is that it doesn't make sense to do KYC on a site where we don't know where the physical office is and the anonymous owner
All Binance users are now subject to immediate KYC verification
those old days where a person could create an account on an exchange and trade smoothly without having to run the risk of delivering documents are gone, now are coming dark times where each person needs to have documents to do KYC and be able to trade and pray that the exchange never sell your document. the era of anonymity is coming to an end, at least on the part of using exchange and it won't surprise me if a few years from now also online casinos related to cryptocurrencies start to demand KYC right after account creation
those old days where a person could create an account on an exchange and trade smoothly without having to run the risk of delivering documents are gone, now are coming dark times where each person needs to have documents to do KYC and be able to trade and pray that the exchange never sell your document. the era of anonymity is coming to an end, at least on the part of using exchange and it won't surprise me if a few years from now also online casinos related to cryptocurrencies start to demand KYC right after account creation
How devastating if that idea about selling each users documents will exactly going to happen in the future, sad to say as binance user I am worried on that situation.
The demand of KYC instated a good practice purpose as binance administration told us, but on your perspective it made me think of different possible things that might arise someday.
those old days where a person could create an account on an exchange and trade smoothly without having to run the risk of delivering documents are gone, now are coming dark times where each person needs to have documents to do KYC and be able to trade and pray that the exchange never sell your document. the era of anonymity is coming to an end, at least on the part of using exchange and it won't surprise me if a few years from now also online casinos related to cryptocurrencies start to demand KYC right after account creation
There already is a crypto casino that does KYC, it's called crypto-games, though I don't think it's mandatory for everyone yet. The era of anonymous crypto services has been disappearing for a long time already, the governments were never going to ignore crypto completely. So you can't really blame Binance here for spying on you, they have no choice, it's either they do KYC or they get banned in most countries in the world.
those old days where a person could create an account on an exchange and trade smoothly without having to run the risk of delivering documents are gone, now are coming dark times where each person needs to have documents to do KYC and be able to trade and pray that the exchange never sell your document. the era of anonymity is coming to an end, at least on the part of using exchange and it won't surprise me if a few years from now also online casinos related to cryptocurrencies start to demand KYC right after account creation
There already is a crypto casino that does KYC, it's called crypto-games, though I don't think it's mandatory for everyone yet. The era of anonymous crypto services has been disappearing for a long time already, the governments were never going to ignore crypto completely. So you can't really blame Binance here for spying on you, they have no choice, it's either they do KYC or they get banned in most countries in the world.
Impressive! This is a resounding change in Binance I think that Binance was forced to take this measure due to the latest events. We know that other exchanges have not required it so far by the KYC / AML but I am in solidarity with your concern, the regulations are being noticed. Seeing the KYC issue in the future will undoubtedly affect cryptographic businesses because in order to operate in the regulations, casinos could also be included. We are witnessing a phase of bitcoin where nations begin to establish their regulations for its use.
Not all users but new users will be subjected to KYC verification.
Updates to Binance Services - https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca
But old users can still use the platform but with reduced daily withdrawal limit to 0.06btc (for basic verification).
Updates to Daily Withdrawal Limits - https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70
So for old traders, they can still use binance but with reduced limits.
If you are just a small timer, this is still good because not many traders can max out their daily limit.
Yeah, at least with 0.06BTC it's still enough for small time traders they can still withdraw.Updates to Binance Services - https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca
But old users can still use the platform but with reduced daily withdrawal limit to 0.06btc (for basic verification).
Updates to Daily Withdrawal Limits - https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70
So for old traders, they can still use binance but with reduced limits.
If you are just a small timer, this is still good because not many traders can max out their daily limit.
Binance really need to follow because they were hot on the government or else they might be gone for good if they don't comply which they really build a solid reputation over the years.
People have a choice to comply the KYC or not at least for the old ones but for the new one this looks really bad for them I don't know if they like it or might try to find another exchange.
Not all users but new users will be subjected to KYC verification.
Updates to Binance Services - https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca
But old users can still use the platform but with reduced daily withdrawal limit to 0.06btc (for basic verification).
Updates to Daily Withdrawal Limits - https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70
So for old traders, they can still use binance but with reduced limits.
If you are just a small timer, this is still good because not many traders can max out their daily limit.
Updates to Binance Services - https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca
But old users can still use the platform but with reduced daily withdrawal limit to 0.06btc (for basic verification).
Updates to Daily Withdrawal Limits - https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70
So for old traders, they can still use binance but with reduced limits.
If you are just a small timer, this is still good because not many traders can max out their daily limit.
All Binance users are now subject to immediate KYC verification
those old days where a person could create an account on an exchange and trade smoothly without having to run the risk of delivering documents are gone, now are coming dark times where each person needs to have documents to do KYC and be able to trade and pray that the exchange never sell your document. the era of anonymity is coming to an end, at least on the part of using exchange and it won't surprise me if a few years from now also online casinos related to cryptocurrencies start to demand KYC right after account creation
those old days where a person could create an account on an exchange and trade smoothly without having to run the risk of delivering documents are gone, now are coming dark times where each person needs to have documents to do KYC and be able to trade and pray that the exchange never sell your document. the era of anonymity is coming to an end, at least on the part of using exchange and it won't surprise me if a few years from now also online casinos related to cryptocurrencies start to demand KYC right after account creation
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