Are USA traders saying sayonara to Binance? (The Exodus Is Here?) - page 2.

figmentofmyass

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Quote from: jerry0 on August 17, 2019, 03:13:04 PM

Can we keeps our coins in binance exchange after that date? How long can we keep them there?

from my reading of their terms, there is no date by which you must remove your coins. on september 12, USA users will lose deposit and trading privileges but will still be able to access their accounts and withdraw.

there's absolutely no reason to store funds there if you can't trade though. that's just unnecessary third party risk.

jerry0

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Can we keeps our coins in binance exchange after that date? How long can we keep them there?

Pipdips

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Just a reminder: the policy is effective on Sept. 12, 2019, so that gives USA customers about 28 days from now to make up their minds.

If USA customers submit Know Your Customer information before that date, can they continue trading with the Binance exchange?

RealMalatesta

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Quote from: icekohl on August 10, 2019, 01:33:53 PM

Quote from: Pipdips on July 15, 2019, 10:21:25 PM

Yes? no? maybe so?

If yes, what exchange are you going to use next?
If no, what are your reasons for staying?
If undecided, what are you waiting for?

Well, Binance is not unique in this market. They attract users for great liquidity and have a professional market maker team that controls this market. If you are not a person who prefer pump-dump schemes like on binance, I think you can have many options with good trading volume, many trading pairs and not banning US users, like Coinbase.

You are talking from a bitter end and as much as majority of us are not happy about the decision of Binance to lock united states traders out of their platform, that should not mean that we will say things that are not true about them. You really cannot compare Binance and coinbase because function wise, Binance is far better than coinbase.

Yes I know that coinbase has more users than Binance, but the gap between the times they were both established is quite much also, coinbase was 2010, while Binance was just 2017 here and since I know Binance, coinbase has more record of pump and dump coins more than Binance. Most people that likes to trade shitcoins even do that more on coinbase than Binance. Binance is where you can still get the best of coins listed.

btc_angela

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Quote from: ?? on ??

More and more I'm starting to get nervous about Binance. CoinDesk announced very interesting news regarding the hacking of the exchange in May. It turned out that the Binance administration was negotiating with a mysterious hacker who found out who had stolen the funds and 60,000 KYC files, and at the same time said that he knew exactly which administration helped to hack the exchange. Let's see how it all ends.

The negotiation fell off, that's why the hackers has the audacity to post the pictures and faces of the individuals who've undergone KYC. The sad thing is that Binance didn't take care of those individual so it doesn't really look good at Binance. I'm sure this will haunt them and it could somewhat damage their reputation and could be one reason why we would say "sayonara" to them and move somewhere else.

icekohl

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Quote from: Pipdips on July 15, 2019, 10:21:25 PM

Yes? no? maybe so?

If yes, what exchange are you going to use next?
If no, what are your reasons for staying?
If undecided, what are you waiting for?

Well, Binance is not unique in this market. They attract users for great liquidity and have a professional market maker team that controls this market. If you are not a person who prefer pump-dump schemes like on binance, I think you can have many options with good trading volume, many trading pairs and not banning US users, like Coinbase.

Pipdips

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I think that Binance is getting a little too big for it's britches... Undecided

sana54210

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Quote from: Pipdips on August 08, 2019, 11:07:48 AM

What is going on with today's news about Binance accounts being hacked? What happened?

I have not logged in to my Binance account, but I have funds sitting there at their exchange, hopefully....

The accusation is not based on funds hacking but data hacking, some people claim that their database was hacked, and data of people were stolen which Binance has already denied ever having the knowledge of that, so I am still waiting for some days too to see if it is just a rumor or it really happened.

If it really happened, I am suspecting the hand of a country I would not like to mention on that because I just heard that there are some exchanges they have already approached to get data of people for tax purpose, and if Binance I proven stubborn, the thing they would definitely too is to secretly hack into their database with their professional hackers and then get the data needed by force in other for them to be able to use it to slam cryptocurrency tax on the ones that concerns them.

Pipdips

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Binance should have an option to receive important news related to your account and the Binance exchange. There should be email blasts sent to clients. My 2 cents.

exstasie

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Quote from: Pipdips on August 08, 2019, 11:07:48 AM

What is going on with today's news about Binance accounts being hacked? What happened?

I have not logged in to my Binance account, but I have funds sitting there at their exchange, hopefully....

No funds were taken. In fact, it doesn't look like Binance was hacked at all.

Apparently there was some KYC data leaked around February 2018. Binance has said repeatedly there are no indications the data came directly from their database (they watermark these types of photos). They were using a third party vendor to process KYC overflow at that time and are implying that's how the data was stolen.

This is what Binance announced yesterday in response to the rumors:

Quote

First and foremost, there are inconsistencies when comparing this data to the data in our system. At the present time, no evidence has been supplied that indicates any KYC images have been obtained from Binance, as these images do not contain the digital watermark imprinted by our system.

On initial review of the images made public, they all appear to be dated from February of 2018, at which time Binance had contracted a third-party vendor for KYC verification in order to handle the high volume of requests at that time.

Pipdips

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What is going on with today's news about Binance accounts being hacked? What happened?

I have not logged in to my Binance account, but I have funds sitting there at their exchange, hopefully....

Pipdips

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Quote from: BitHodler on August 06, 2019, 09:16:39 AM

Quote from: Pipdips on August 04, 2019, 09:38:33 PM

We are 39 days away. It's like getting an eviction notice on your apartment door.

I wouldn't want to wait for the last day to actually shift, especially because of how they can shorten the time you have to actually withdraw, and you might miss their announcement while you think you still have 39 days.

It was to be expected after how so many other exchanges have already dumped off their US clients. The regulatory framework is slowly but surely forming a cage around exchanges and it will soon target other countries as well.

It's interesting to see how Kucoin seems to be gaining more momentum now Binance and BitMEX are taking a hit. It has done quite well making itself look interesting enough to welcome Binance and BitMEX refugees.

Thanks for pointing that out. It makes me wonder if the funds from their US exchange clients have already been switched out but all we see is the original website. That would be classic Binance policy to accidentally forget to tell clients what is going on exactly. Like a surprise birthday party a few days before the actual birthday. With Binance it would like Surprise, your funds have actually been moved into the new mystery clients cyrpto-bank, we just did not want to have full transparency with our USA clients because that would freak them all out to know the truth. -Or I could be wrong about all that and my imagination is just running away with me again-

BitHodler

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Quote from: Pipdips on August 04, 2019, 09:38:33 PM

We are 39 days away. It's like getting an eviction notice on your apartment door.

I wouldn't want to wait for the last day to actually shift, especially because of how they can shorten the time you have to actually withdraw, and you might miss their announcement while you think you still have 39 days.

It was to be expected after how so many other exchanges have already dumped off their US clients. The regulatory framework is slowly but surely forming a cage around exchanges and it will soon target other countries as well.

It's interesting to see how Kucoin seems to be gaining more momentum now Binance and BitMEX are taking a hit. It has done quite well making itself look interesting enough to welcome Binance and BitMEX refugees.

redsun114

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Quote from: saaayyyeeel on August 05, 2019, 09:28:43 AM

I guess its not a problem even if binance prohibit US residents in accessing their site, there are lots of other good and stable exchanges around that could be use, binance is just one and if that happens, let binance die in vain for Americans.

Good point man, I don’t know why people are making it feel like Binance is the only exchange and as if they are gods. Before Binance came into existence, where there not traders in the market? We had traders, and they were doing very fine including the Americans, we have lots of Americans that even have experience more than Binance in this industry because of the number of years they have spent.

So, Binance prohibiting them would not really have any effect on them, so long it is not local exchange they’re having as problem, they will sure get any exchange for them to work through and it must not necessarily be Binance. Binance is the one that would lose out from prohibiting them. There are so many exchanges like Kucoin, coinbase, bittrex that would gladly accept them.

saaayyyeeel

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For RENT

I guess its not a problem even if binance prohibit US residents in accessing their site, there are lots of other good and stable exchanges around that could be use, binance is just one and if that happens, let binance die in vain for Americans.

Pipdips

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I am removing my funds from Binance before this "mystery" exchange takes over for their US clients. Binance is an amazing crypto exchange but with immature people in their public relations area.

It is sucky news to hear the whole Surprise! It's going to be a Mystery exchange! Have fun being Secretly outsourced! Right under your nose! Not cool at all.

stadus

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Quote from: MonsterV on August 05, 2019, 06:40:57 AM

Quote from: Irvinn on August 04, 2019, 11:59:29 AM

In any case, I can confidently say that Binance is by far the best Trading Exchange for me, among all whom I have dealt with. The fact is that the resource does not freeze, because I fit my device very well. In addition, I completely like its functionality and everything that I do does not cause any complaints. I still do not fully use everything that Binance can offer, but nevertheless I am sure in this trading exchange, which exceeded all my expectations and even got better than my previous choice of Bittrex.

Binance always has many ways to develop their platforms, with the existence of Binance US it proves that binance really wants to be the best platform that always has innovation for crypto fans. In fact, in my opinion it is not easy for a crypto company to build a platform in the US and comply with all regulations issued by the US, even other exchanges want to get out of all US regulations, but binance is different, well he is the best.

People should not worry as Binance are finding ways to still cater the US clients as soon as they comply with the requirements.
They'll surely focusing on that now as they know how big of a profit they'll loss even for a short period without their US clients.

This is may not be the latest from them, but Binance assures they'll be launching a US exchange.

https://www.coindesk.com/binance-says-its-launching-a-us-exchange-with-fincen-registered-partner

MonsterV

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Quote from: Irvinn on August 04, 2019, 11:59:29 AM

In any case, I can confidently say that Binance is by far the best Trading Exchange for me, among all whom I have dealt with. The fact is that the resource does not freeze, because I fit my device very well. In addition, I completely like its functionality and everything that I do does not cause any complaints. I still do not fully use everything that Binance can offer, but nevertheless I am sure in this trading exchange, which exceeded all my expectations and even got better than my previous choice of Bittrex.

Binance always has many ways to develop their platforms, with the existence of Binance US it proves that binance really wants to be the best platform that always has innovation for crypto fans. In fact, in my opinion it is not easy for a crypto company to build a platform in the US and comply with all regulations issued by the US, even other exchanges want to get out of all US regulations, but binance is different, well he is the best.

omonuyak

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Quote from: Pipdips on July 15, 2019, 10:21:25 PM

Yes? no? maybe so?

If yes, what exchange are you going to use next?
If no, what are your reasons for staying?
If undecided, what are you waiting for?

If you think that USA traders are abandoned binance I think we would be mistaken because USA traders will not abandoned it for any other exchange. I believe that later in the year we would start to see crypto assets been tax and by then binance will be allow to freely do business in USA and the traders will find comfortable to trade at binance.

Questat

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Quote from: joniboini on August 05, 2019, 02:18:14 AM

Quote from: Pipdips on August 04, 2019, 09:38:33 PM

We are 39 days away. It's like getting an eviction notice on your apartment door.

39 days and counting.

Anyway, you guys can check Bitmart if you wanted to (and if you're fine with KYC). I heard they open their service for US customers, at least an option to check and give it a try. They're nowhere near Binance level though, and there's no market marker to provide your liquidity (or pump your token to the sky) as Binance did.

They can compete with Binance soon as they have the volume, if Binance can't make a timely action, they will loss a big portion of the market.
Every exchange that sees the opportunity will try hard to compete and I think the exchange you shared had a decent volume, so I can say traders are also trusting them.

Topic: Are USA traders saying sayonara to Binance? (The Exodus Is Here?) - page 2. (Read 4704 times)