Are USA traders saying sayonara to Binance? (The Exodus Is Here?) - page 3.

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: Pipdips on August 04, 2019, 08:38:33 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.

Pipdips

member

Activity: 210

Merit: 13

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

Harlot

hero member

Activity: 1806

Merit: 672

This is hard to think about especially the most popular crypto exchanges in the US are operating overseas and this is hard for them since the SEC and the US authorities are not allowing them to have US customers. Now their only options are now limited to only Bittrex and Coinbase which I honestly think doesn't have the best service and with the competition going away I think they'll just be taking advantage of it without any kind of improvements with their system whatsoever.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: wywoc on August 04, 2019, 12:49:31 PM

But I don't think Kucoin will be the # 1 choice if Binance is banned in the US. Maybe OKEx or Houbi would be more realistic.

OKEx doesn't allow US customers. Even to be able to withdraw $1,000 per day you would need to use VPN and provide a fake name/passport number. US traders are better off staying on Binance and using VPN. Only email address is required for much higher withdrawal limits.

Houbi banned US customers on its international site. They have a US-facing site but it's only got ~ a dozen coins listed.

So if you want to be "legit" then Kucoin is the best option. If you're willing to VPN from the US and risk the consequences, Binance is still the best.

wywoc

full member

Activity: 335

Merit: 100

Quote from: Pipdips on July 31, 2019, 09:27:07 AM

Bitcoin + Finance = Binance, got it.

Ku + Coin = KuCoin, but again, what is a "Ku"? Is that Japanese for Kung Foo?

Kucoin is a Chinese exchange, and maybe "Ku" is a Chinese word. I just search for the meaning of "Ku", it gives the results "warehouse or store house". Seems quite reasonable. Grin

But I don't think Kucoin will be the # 1 choice if Binance is banned in the US. Maybe OKEx or Houbi would be more realistic.

Irvinn

full member

Activity: 966

Merit: 104

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.

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: jerry0 on August 03, 2019, 02:09:00 PM

So is Kucoin going to be most popular exchange then for US?

Well, it's the next best option for unverified altcoin/stablecoin trading. I'm sure it will get bigger than it is now. How big vs. Coinbase or Binance.US depends on how important unverified trading is for customers, and how many markets Binance.US lists.

Quote from: jerry0 on August 03, 2019, 02:09:00 PM

If so, make sense to buy kucoin?

You mean Kucoin shares (KCS)? I think it's a solid bet. Not sure they'll quite pull off BNB-type gains, but I think a 10x from here (in KCS/BTC) is possible by the top of the next bubble. It may stagnate against BTC for quite a while though.

jerry0

full member

Activity: 1750

Merit: 186

So is Kucoin going to be most popular exchange then for US? If so, make sense to buy kucoin?

Pipdips

member

Activity: 210

Merit: 13

Quote from: stomachgrowls on July 31, 2019, 01:58:48 PM

Why not try to ask them? Grin

Seems like a big deal to you on what are their names.I dont care at all as long the masses do support or trade with it then thats one of the important factors to consider.

To me it is a big deal. The whole Ku thing needs an explanation. Does Ku mean kung foo? Does it mean cool? Does it mean Kompletely untrustworthy? It could mean any of a million different things.

How about this one: https://www.investvoyager.com/app/

stomachgrowls

hero member

Activity: 3010

Merit: 794

Quote from: Pipdips on July 31, 2019, 09:27:07 AM

Bitcoin + Finance = Binance, got it.

Ku + Coin = KuCoin, but again, what is a "Ku"? Is that Japanese for Kung Foo?

Why not try to ask them? Grin

Seems like a big deal to you on what are their names.I dont care at all as long the masses do support or trade with it then thats one of the important factors to consider.

Kanjeung

jr. member

Activity: 319

Merit: 1

Quote from: Pipdips on July 15, 2019, 09:21:25 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 ask about "what exchange are you going to use next?" I think, I want to use trusted exchanges, which are numbers 1, 2, 3, 4, 5. Of all the rows I think that is an exchange that can be trusted. including binance, okex, huobi, indodax and others. My experience in the crypto world, as long as I keep assets in exchange, I am very grateful that I have never experienced loss of assets or been stolen by someone else. so think first before you do something.

Pipdips

member

Activity: 210

Merit: 13

Bitcoin + Finance = Binance, got it.

Ku + Coin = KuCoin, but again, what is a "Ku"? Is that Japanese for Kung Foo?

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: Pipdips on July 30, 2019, 03:21:12 PM

Quote from: FanEagle on July 30, 2019, 12:27:17 PM

in fact Kucoin is one of such great exchange that any Us traders can use

What is a "Ku"? What is the meaning of Ku?

KU? Where on earth did you see that in his message, and what has something related to that is the Kucoin that he mentioned, and he already stated it that it is an exchange, and yes, Kucoin is really a wonderful exchange also like Binance exchange and other great exchanges that are in the market. They have very attractive user interface which is also very friendly to many of its users.

I started using it just like a month ago and all the services that I have enjoyed through them is really great. Sometimes, it seems to me like they are fortified with good luck charm lol, because since I am been using them I have been making profits more than losses like other exchanges I have been using to trade. I think this exchange would really be suitable for the US citizens.

Pipdips

member

Activity: 210

Merit: 13

Quote from: exstasie on July 30, 2019, 06:28:45 PM

Traders like me need liquidity. Kucoin lacks stablecoin liquidity and other exchanges are worse. The derivatives exchanges similarly prohibit US traders. That leaves three choices or some combination of them: mandatory KYC, using VPN to dodge US trader bans, or splitting funds between multiple exchanges. I would like to avoid KYC, which reduces the options further.

So you can see, my options for hedging BTC are slim. Worst case scenario, if i get caught violating terms, I might get my balance confiscated. The risk of that is fairly low, especially since Binance's terms state they will allow withdrawal in these cases. I think the potential profit and hedging value I can get is much greater than the risk.

If they really want to deter US traders, they should threaten to confiscate balances if caught violating terms. The wording is pretty inviting for us.

Thanks for saying it like it is and letting us know your plans because my thoughts a very similar. Binance's 90 day notice is quickly creeping up on us USA traders...

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: FanEagle on July 30, 2019, 12:27:17 PM

People like to take unnecessary risk, is using Binance platform a do or die matter, you see that we are even the problem in this crypto industry, we complain of monopoly of some exchanges, and yet we are the ones empowering them, why will he violate the rule and use vpn when he can simply just move his coin to other great exchanges, his life is not tied to a particular exchange and if there was no Binance, would he not continue to trade?

Traders like me need liquidity. Kucoin lacks stablecoin liquidity and other exchanges are worse. The derivatives exchanges similarly prohibit US traders. That leaves three choices or some combination of them: mandatory KYC, using VPN to dodge US trader bans, or splitting funds between multiple exchanges. I would like to avoid KYC, which reduces the options further.

So you can see, my options for hedging BTC are slim. Worst case scenario, if i get caught violating terms, I might get my balance confiscated. The risk of that is fairly low, especially since Binance's terms state they will allow withdrawal in these cases. I think the potential profit and hedging value I can get is much greater than the risk.

If they really want to deter US traders, they should threaten to confiscate balances if caught violating terms. The wording is pretty inviting for us.

Pipdips

member

Activity: 210

Merit: 13

Quote from: FanEagle on July 30, 2019, 12:27:17 PM

in fact Kucoin is one of such great exchange that any Us traders can use

What is a "Ku"? What is the meaning of Ku?

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: Pipdips on July 26, 2019, 10:46:23 PM

Quote from: exstasie on July 25, 2019, 03:55:58 PM

Yeah, I will probably take a two-pronged approach once the new Binance terms take effect in September. I'll make a new VPN account for Binance and then split my capital 50-50 between Binance and Kucoin. If Binance forces verification and catches us for violating terms, I think they would still allow us to withdraw in most cases. But reducing my exposure by 50% will make me feel safer.

I like your zeal for really going for it, but, I would not sneak around the rules like that. Binance may figure you out. But it will definitely effect your trading because in the back of your mind it will be psychologically effecting your trading outcomes. If Binance caught you breaking rules, I think Binance would still allow you to withdrawal your funds, but, I would suggest just complying by the rules. That is part of my trading plan that I recommend.

Binance does not owe you anything, they were a great provider when they were serving the USA users, plus they have given us all a 90 day warning.

People like to take unnecessary risk, is using Binance platform a do or die matter, you see that we are even the problem in this crypto industry, we complain of monopoly of some exchanges, and yet we are the ones empowering them, why will he violate the rule and use vpn when he can simply just move his coin to other great exchanges, his life is not tied to a particular exchange and if there was no Binance, would he not continue to trade?

Imagine that that hacking that happened then had affected them and closed them down, would he stop crypto business? There are so many exchanges that we have that has passed trust test, in fact Kucoin is one of such great exchange that any Us traders can use, and I am glad that they are willing to accept them wholeheartedly and offer them great services.

Pipdips

member

Activity: 210

Merit: 13

Exstasie, another thing to consider is that a new wave of people and different audiences are going to be climbing on board soon. Binance and other exchange platforms will be simplified for a less Bitcoin savvy group of users, and they will rush to give their identifications just to hurry up and start trading / losing all their money. Grin

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: Pipdips on July 26, 2019, 10:46:23 PM

Quote from: exstasie on July 25, 2019, 03:55:58 PM

Yeah, I will probably take a two-pronged approach once the new Binance terms take effect in September. I'll make a new VPN account for Binance and then split my capital 50-50 between Binance and Kucoin. If Binance forces verification and catches us for violating terms, I think they would still allow us to withdraw in most cases. But reducing my exposure by 50% will make me feel safer.

I like your zeal for really going for it, but, I would not sneak around the rules like that. Binance may figure you out. But it will definitely effect your trading because in the back of your mind it will be psychologically effecting your trading outcomes. If Binance caught you breaking rules, I think Binance would still allow you to withdrawal your funds, but, I would suggest just complying by the rules. That is part of my trading plan that I recommend.

Binance does not owe you anything, they were a great provider when they were serving the USA users, plus they have given us all a 90 day warning.

Sure they don't owe us anything, but by their terms, they are apparently taking the Bitmex route. They are implicitly inviting US traders by not enforcing KYC, because they know they need the liquidity. Nobody wants to leave the US market. It's the biggest market on the globe.

I think most people in the room understand this is just a transitional stage before Binance is eventually forced to mandate KYC on its main site. That'll be the end of these shenanigans and that's what US regulators want.

Pipdips

member

Activity: 210

Merit: 13

Quote from: exstasie on July 25, 2019, 03:55:58 PM

Yeah, I will probably take a two-pronged approach once the new Binance terms take effect in September. I'll make a new VPN account for Binance and then split my capital 50-50 between Binance and Kucoin. If Binance forces verification and catches us for violating terms, I think they would still allow us to withdraw in most cases. But reducing my exposure by 50% will make me feel safer.

I like your zeal for really going for it, but, I would not sneak around the rules like that. Binance may figure you out. But it will definitely effect your trading because in the back of your mind it will be psychologically effecting your trading outcomes. If Binance caught you breaking rules, I think Binance would still allow you to withdrawal your funds, but, I would suggest just complying by the rules. That is part of my trading plan that I recommend.

Binance does not owe you anything, they were a great provider when they were serving the USA users, plus they have given us all a 90 day warning.

Topic: Are USA traders saying sayonara to Binance? (The Exodus Is Here?) - page 3. (Read 4706 times)