Are USA traders saying sayonara to Binance? (The Exodus Is Here?) - page 4.

exstasie

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Quote from: Skyrune13 on July 25, 2019, 05:49:20 PM

I will be curious to see if banned users can get away with a VPN for the time being. I know I use one all the time on my home computer anyway.

It's worked for Americans on Bitmex for years. So it'll probably work for a time......how long is anyone's guess. The CFTC is digging into Bitmex for allowing Americans to trade there, so all eyes are on that investigation.

Sadly, this kind of meddling by the US government will keep pushing exchanges into requiring KYC. Bitmex already blocks American IP addresses and prohibits them in their terms, so if this still isn't enough to avoid scrutiny then what's left?

Skyrune13

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I am very concerned with this latest venture from Binance myself. With the U.S. overstepping their boundries it is becoming difficult for it's citizens to find a decent exchange. Coinbase and Pro suck. Kraken is only a little better. Most of the U.S. exchanges I have found they charge and absurd amount in fees or a spread fee base. Of course that really only begins to tip the scales as to why U.S. users choose Binance.
I will be curious to see if banned users can get away with a VPN for the time being. I know I use one all the time on my home computer anyway. I don't think anything negative about Binance for the decisions they've made due to the fast regulations being implemented by the United States and other countries. I, personally, think they have made this decision to begin to cooperate with U.S. regulators to open an exchange there and to also not be invaded by authorities who really have no right to do so. Of course, we all know that wouldn't stop the strong overreach the U.S. and other countries give themselves. Honestly the best situation may be, as a U.S. citizen, to invest in citizenship in another more tax and crypto friendly country. Of course that is just my opinion. Nothing more, nothing less.

exstasie

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Quote from: Arkham Knight on July 25, 2019, 07:19:19 AM

Quote from: exstasie on July 25, 2019, 01:36:07 AM

Kucoin, Poloniex. There's also Coinbase Pro if you only want to trade about a dozen of the larger altcoins. Huobi also has a US site now (which I haven't tried yet) with a couple dozen altcoin markets.

I think Kucoin is the only option besides Binance that allows unverified accounts.

So now we can clearly see things are not 'goodbye' for our beloved USA traders. Kucoin is not bad but I agree that it has not the charm and huge volume of Binance and CZ. I think this will also serve as an opportunity for Kucoin to step up on their service and they can be the top exchange for USA traders. And like the others said, VPN will always comes in handy.

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 just hope stablecoin liquidity on Kucoin improves. Then I could move more funds there.

Distinctin

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This is just temporary, Binance are finding ways to comply with the USA regulatory requirements, they won't just easily give up the US market, they are the most popular and maybe trusted in the crypto space so if there is a chance to retain the customer, they'll always find a way.

Arkham Knight

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Quote from: exstasie on July 25, 2019, 01:36:07 AM

Quote from: jerry0 on July 25, 2019, 01:08:48 AM

What exchanges are US users currently using to trade alts besides binance and bittrex?

Kucoin, Poloniex. There's also Coinbase Pro if you only want to trade about a dozen of the larger altcoins. Huobi also has a US site now (which I haven't tried yet) with a couple dozen altcoin markets.

I think Kucoin is the only option besides Binance that allows unverified accounts.

So now we can clearly see things are not 'goodbye' for our beloved USA traders. Kucoin is not bad but I agree that it has not the charm and huge volume of Binance and CZ. I think this will also serve as an opportunity for Kucoin to step up on their service and they can be the top exchange for USA traders. And like the others said, VPN will always comes in handy.

exstasie

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Quote from: Pipdips on July 24, 2019, 11:04:18 PM

Quote from: Slow death on July 16, 2019, 02:17:37 PM

They have until September, they still have a lot of time until September.

Binance to Open US-Based Division With FinCEN Approved Partner

That link is to some site that is not related to Binance. Where is the announcement directly from Binance? I looked at the Binance Announcements page (with literally hundreds of their announcements) and did not find anything about blocking US users or any changes coming.

Binance changed its terms and announced it here but they didn't explicitly mention US persons in the announcement. In fact, the language referenced in all the news articles ("Binance is unable to provide services to any U.S. person") no longer appears in their terms. Weird!

Anyway I'm sure they've done their best to implement the change quietly to prevent a panicked exit of American liquidity, which I suspect is a very significant portion of Binance's total liquidity. They want a slow, orderly exit and presumably they also want some of those traders back trading through VPN.

exstasie

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Quote from: jerry0 on July 25, 2019, 01:08:48 AM

What exchanges are US users currently using to trade alts besides binance and bittrex?

Kucoin, Poloniex. There's also Coinbase Pro if you only want to trade about a dozen of the larger altcoins. Huobi also has a US site now (which I haven't tried yet) with a couple dozen altcoin markets.

I think Kucoin is the only option besides Binance that allows unverified accounts.

jerry0

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What exchanges are US users currently using to trade alts besides binance and bittrex?

Pipdips

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Quote from: Slow death on July 16, 2019, 02:17:37 PM

They have until September, they still have a lot of time until September.

Binance to Open US-Based Division With FinCEN Approved Partner

That link is to some site that is not related to Binance. Where is the announcement directly from Binance? I looked at the Binance Announcements page (with literally hundreds of their announcements) and did not find anything about blocking US users or any changes coming.

What traders have time to read hundreds of their announcements? These exchanges are notorious for keeping their clients uninformed about important information.

Pipdips

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Quote from: sana54210 on July 23, 2019, 04:00:59 PM

anyway, now that you are planning to pull your coin out, what exchanges are you looking at.

If Binance pulls the plug on USA users, something new will pop up but until then: Coinbase Pro

sana54210

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Quote from: Pipdips on July 21, 2019, 11:12:41 PM

Quote from: Oilacris on July 20, 2019, 03:46:50 PM

For US binance users there still time left to use up the exchange though but it isnt really that a stressful thing yet there would still be some lots of good options in case it would completely close its doors to US citizens.

I am a Binance user in the USA with some USDC parked in my Binance account this very minute. I am unsure what to do but those funds are probably leaving Binance soon.

Sorry about this bro, I think Binance is really making serious mistake with this, I still don’t know what actually led to this, it could have been an issue with the federal government because this action to me is more or less like witch hunting, because I do not see any reasonable reason why an exchange will exempt United states citizens from their exchange.

Kucoin is already planning to list all Binance chain coins including Binance if they have not done that already, and I think this will make Kucoin have lots of volume soon, if I were those small unknown good exchanges, this would have been the best time for them to sell themselves to united state citizens if they are really good at what they are doing, anyway, now that you are planning to pull your coin out, what exchanges are you looking at.

Pipdips

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Quote from: Oilacris on July 20, 2019, 03:46:50 PM

For US binance users there still time left to use up the exchange though but it isnt really that a stressful thing yet there would still be some lots of good options in case it would completely close its doors to US citizens.

I am a Binance user in the USA with some USDC parked in my Binance account this very minute. I am unsure what to do but those funds are probably leaving Binance soon.

idekai

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Quote from: The Sceptical Chymist on July 16, 2019, 04:19:19 PM

Kraken sucks, Coinbase banned me, never heard of Okex or Houbi, and Bittrex requires KYC.

How about HitBTC or Kucoin? Any issue that you found on HitBTC or kucoin?
I mean do you think it is possible for you to trade there? or none?

Oilacris

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Quote from: leowonderful on July 16, 2019, 05:25:42 PM

Quote from: Pipdips on July 16, 2019, 04:30:23 PM

Is Binance not allowing new customers to sign up in the USA? For real?

Yes, I get the following error when I try to sign up for Binance from an IP in the United States:

Quote

Persons that are located in or a resident of the United States of America will be unable to create an account at Binance.com.

You could always just use a VPN to sign up if you really want to use the site and trade on it (working for me at the moment), though I know there are people against doing this for various reasons. I assume Binance is going to require KYC when the US-friendly version of the site launches as well, considering there's no exchanges out there I know of that allow US traders to trade without completing KYC.

It would really be on the same story which means you wont really have any choice but to comply KYC no matter what exchange you are trying to register.

For US binance users there still time left to use up the exchange though but it isnt really that a stressful thing yet there would still be some lots of good options in case it would completely close its doors to US citizens.

bitgolden

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Quote from: dothebeats on July 17, 2019, 12:11:58 PM

Quote from: exstasie on July 17, 2019, 04:31:08 AM

I hope their main site goes easy on VPN usage.

Unsurprisingly, I guess they would somehow allow VPN usage, but then again we don't know not unless September is here and Americans are barred from using the main site. But for the safe side, I suggest not to do it, especially with high volume of trades (even if one is fully verified) just in case. Huobi Global is also there just like you've mentioned, and they are pretty much an OK exchange that doesn't require KYC to withdraw, and boy $1000/day is still a doable amount to work with especially if one is not really a high-volume trader and/or just dealing with newer altcoins/projects.

The transitioning of Binance into making its own subsidiary/branch/whatever catered specifically for US residents would be an interesting sight to see. It seems like they are serious into expanding the brand and do not want to lose their American customer-base just for this silly regulation.

It seems they already drafted a policy that is already against the use of VPN for their site and even if they don’t, I dint see VPN still helping the US Traders able to trade in Binance because Binance is one if the exchanges that requires KYC to trade on their platform, and from KYC they will simply just ban the account that belongs to US citizen.

For the level 1 that does not require KYC, those are the only category of people that can be able to trade ion Binance without them noticing on time, but why should the citizens even go through all that stress when they can simply go on other friendly exchanges like Kucoin and the rest, the exchange market is too saturated for one exchange to just try to marginalize people, this is part of the monopoly we are talking about here.

dothebeats

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Quote from: exstasie on July 17, 2019, 04:31:08 AM

I hope their main site goes easy on VPN usage.

Unsurprisingly, I guess they would somehow allow VPN usage, but then again we don't know not unless September is here and Americans are barred from using the main site. But for the safe side, I suggest not to do it, especially with high volume of trades (even if one is fully verified) just in case. Huobi Global is also there just like you've mentioned, and they are pretty much an OK exchange that doesn't require KYC to withdraw, and boy $1000/day is still a doable amount to work with especially if one is not really a high-volume trader and/or just dealing with newer altcoins/projects.

The transitioning of Binance into making its own subsidiary/branch/whatever catered specifically for US residents would be an interesting sight to see. It seems like they are serious into expanding the brand and do not want to lose their American customer-base just for this silly regulation.

Pipdips

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There is too much happening in the world of crypto and too fast. First you need to learn how to trade, which obviously takes years to master, but then you also have to constantly be vigilant about how the exchanges will damage it's clients. It's like two jobs: being a trader, and then having to keep up with all the nasty tricks the exchanges aren't telling you about.

yangongear

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Quote from: exstasie on July 17, 2019, 04:31:08 AM

Huobi was one of the big 3 Chinese exchanges before the government forced them out. It looks like they allow unverified accounts to withdraw ~ $1,000 equivalent per day. They don't allow US residents on their main exchange (Huobi Global) but a VPN might do.

I'm pretty sure Okex requires KYC now, and they don't allow US traders.

Yes, based on trading volume, quality of listed projects as well as recent IEOs I can say that currently Binance, Okex and Houbi are top 3 exchanges.
With Houbi, you can withdrawn maximum 1000$ with an unverified account. Okex required KYC, but their KYC level 1 is suck, you just need a name with an ID number Wink

.

FanEagle

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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?

I don’t think U.S traders leaving Binance will really have any effect on them, Binance community cross across different regions of the world, and I don’t think that united states has the largest percentage of Binance users. It may affect the value of Binance in the interim, but not enough to drop it low to panic line. Binance has built a very great reputation, and they have been able to accommodate lots of users across the countries that are extremely rich.

So I do not see any issue with them leaving, if I were U.S traders, I would rather stick with Binance, because Binance definitely still has lots of packages that favors them more than any other exchanges that we have out there, so they better still find a way to continue using Binance for their own sake.

cheezcarls

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It’s just sad for us that Binance will exclude the US market in trading with them. However, that may not stop the US traders from doing whatever it takes to keep themselves active in trading with Binance in the form of VPNs (virtual private networks).

Due to the stupid lawmakers (whom I imagined that I wanted them to get deported back to Stone Age on a one-way trip via quantum realm c/o Ant-Man), they are trying everything to make sure no one’s gonna live financially free (but only them) by making these nonsense rules.

That’s the way it is then, but it gives these US crypto traders more options to go for other exchanges that doesn’t ban them.

Topic: Are USA traders saying sayonara to Binance? (The Exodus Is Here?) - page 4. (Read 4704 times)