Ban on Binance Futures | Bitcointalksearch.org

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

...So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

You should not try to cheat the exchange, this may lead to your funds being blocked and it will take you a long time to get your deposit back. It will be the best option for you to register on another exchange, where you will be welcome and you will not violate the rules of the exchange.

TimeTeller

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Quote from: Bitcoin_Arena on October 31, 2021, 06:56:18 PM

Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

Before using Binance to trade derivatives, you had to first verify your account.. Yes?

Using a VPN is not subtle at all since Binance already know which country you are based in.

Just try out other exchanges that have not yet banned your Country is there are any. Move on from Binance if you want to trade derivatives.

Yes, it will not change his status even if he is using VPN because the exchange already got his info.
The better way is to look for other reputable exchanges offering the same services, in which, your country is not yet prohibited.
Don't insist on using binance by thinking of going around their system because as it is implied, they already got your identity.
Binance is not the only exchange offering this service.
You can check this list in cmc - https://coinmarketcap.com/rankings/exchanges/derivatives/

Bitcoin_Arena

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

Before using Binance to trade derivatives, you had to first verify your account.. Yes?

Using a VPN is not subtle at all since Binance already know which country you are based in.

Just try out other exchanges that have not yet banned your Country is there are any. Move on from Binance if you want to trade derivatives.

EdenHazard

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If your country flag or banned by Binance they will detect with your document upload how ever access using VPN or not, I think if you have your friend or your family out other country and still support using Binance you can ask and help for them to pass KYC in your account. Better before deadline day coming you should move your assets to trustwallet because only this available keep your fund safety and you and you can check later what happen when deadline day, can use Binance or not in your country by using VPN.

Bad idea, at some point they would ask you for face recognition which nobody know when it will occured.

better to follow the rules , especially if you talking about a huge amount of money. too much risk.
binance thesedays acted so annoying but yeah they cant do much as they have an order which cant be ignored or the business could completely shut down due law enforcement in progress everywhere against crypto, against bitcoin.
i can imagine if i were in binance position.

adaseb

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Gone are the days of Bitcoin future exchanges such as Bitmex where all you needed to do was use a VPN and you could trade in countries such as USA. I remember that if you frequented the Bitmex troll box the mods even said to use a VPN if you want to trade in the USA. Later on that got them in hot water.

These days exchanges like Bitmex and Binance are KYC. So if you use a VPN you are going to have issues. You will need an identify in that country and this would be very illegal to do and risky and if you were caught your funds might be frozen.

Got the blame the regulators for allowing this to happen.

martina14

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

Even you use VPN, once you submitted your KYC over binance platform it was indicated there what country you belong,
So I think it won't work for sure using Binance, but for the other things in cryptocurrency perhaps, you could still do whatever
you want it to do something like that and just a thought.

teosanru

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

That's sad! I think after the recent rule of Binance of Mandatory KYC for all users you won't get away without mentioning your country there. So they would know your country of residence but yes you obviously can display that you are active from some other country. But I wouldn't recommend you do any such when your country is banned because someday if you land into some trouble with Binance futures and look for Binance Support, they will straight away back out by saying they don't provide services to your country and therefore they cannot resolve your issues/ retrieve your funds, VPN users are number 1 target of scammers.

gabbie2010

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Quote from: Alisha FR on October 28, 2021, 05:27:28 PM

for me you just need to step back from all the risks of banning the use of certain countries by binance, because it is very fatal if you are still trading under various disguises because of course the prohibition system stated by binance is very strict for users to no longer access to enter and immediately take assets you and trade on other exchanges without having to binance. i have finished it

Especially when the OP has a large fund with them, using VPN can very risky if detected you may lose all your funds consequence of defying the ban by bypassing their system, binance is very strict with their rules, the best bet is to transfer all your portfolio to another credible, reliable and trusted exchange with good user interface like binance and continue with your leverage trading, I think the OP is earning well with the leverage trading before the ban of his country by binance.

tygeade

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

I have had issues like this, but not with cryptocurrency platforms, but a different case where the government in my country decided to ban a particular platform and I had to make use of VPN to access that website, it was a really a frustrating thing to do. Only the stress of having to look for a reliable VPN alone is going to be a heavy stress on you.

But anyways, if you can do that, then you can go ahead. Or best to look for other means or platforms to continue what you’re doing without any restrictions and having to rely on VPN.

Alisha FR

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for me you just need to step back from all the risks of banning the use of certain countries by binance, because it is very fatal if you are still trading under various disguises because of course the prohibition system stated by binance is very strict for users to no longer access to enter and immediately take assets you and trade on other exchanges without having to binance. i have finished it

suryogandul

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already happened if binance was banned in some countries. but VPN rules won't always be active. because in my country the binance mobile application can be accessed easily without having to have a VPN, the most important thing is to comply with KYC regulations and the Binance access system is quite strict. so it's not new if binance is banned in some countries, it has happened in the last few years

blockman

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Quote from: 2double0 on October 27, 2021, 05:00:24 PM

Quote from: blockman on October 27, 2021, 09:24:33 AM

Not a trap though but it's the usual thing that we traders are aware of. It's just a mix of experiences and even me, I wouldn't use a VPN upon accessing my account.
It's easier to log in if they detect the usual IP that we use on them so that there's no problem upon logging in. I don't think that when you use a VPN, they'll seize your account, they'll just ask for some verifications to verify that it's you, the actual owner of that account.

It is ok till verifying that it's you, but they have started freezing funds of customers who, according to their belief, are suspicious to them based on any activity they don't like. And using a VPN is one of them. They caught me once as I sent some coins straight from my gambling account to Binance.
According to me, I did not commit anything wrong but they froze my funds till 24 hours and when I asked them why did they do that? They told me about my 'mistake' and asked me to never do that again in future. That was despotism I faced from them. So when you are using their services, it is in our account's good not to unnecessarily mess with them.

Directed by sheenshane, I would leave Binance and go for another exchange that has not banned services in my country, to save myself from all the mess I need to go through to use Binance.

I think in your case it's a different thing, you've sent directly your funds from a casino and that would make them freeze your funds for a moment.
But that experience of yours tells that Binance can really do whatever triggers your account and makes them suspicious about your activity within it.
So, it's better to learn the experience of others before deciding if someone wants to with a VPN or not.

mexite

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

I will not advise you to use VPN to access your Binance account as it may lead to temporary suspension of your account as the system may read it as a suspicious activity since they already have your personal details. I have once tried it and Binance logged me out of my account.

At least, you can continue to use the exchange for spot trading while you use another exchange for futures trading as long as they permit citizens from your country to use their platform.

2double0

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Quote from: blockman on October 27, 2021, 09:24:33 AM

Not a trap though but it's the usual thing that we traders are aware of. It's just a mix of experiences and even me, I wouldn't use a VPN upon accessing my account.
It's easier to log in if they detect the usual IP that we use on them so that there's no problem upon logging in. I don't think that when you use a VPN, they'll seize your account, they'll just ask for some verifications to verify that it's you, the actual owner of that account.

It is ok till verifying that it's you, but they have started freezing funds of customers who, according to their belief, are suspicious to them based on any activity they don't like. And using a VPN is one of them. They caught me once as I sent some coins straight from my gambling account to Binance.
According to me, I did not commit anything wrong but they froze my funds till 24 hours and when I asked them why did they do that? They told me about my 'mistake' and asked me to never do that again in future. That was despotism I faced from them. So when you are using their services, it is in our account's good not to unnecessarily mess with them.

Directed by sheenshane, I would leave Binance and go for another exchange that has not banned services in my country, to save myself from all the mess I need to go through to use Binance.

blockman

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Quote from: sheenshane on October 26, 2021, 05:32:25 PM

Quote from: blockman on October 26, 2021, 02:26:23 PM

Binance got your identity so if they're going to look at your account by chance and you're accessing through a VPN, it might trigger them that you're logging in from another country's IP address.
Although to give you some delight, I've read people who have been using VPN all along and they have no issues about it and they're free to navigate with all of Binance's features.

But I wouldn't use VPN if I were them, it seems kind of a trap when Binance triggers and detect that you are using a VPN they will surely seize your account and the worst scenario is they will hold your fund and will never give it to you.

If Binance isn't for you, try to find other exchanges platform that has the same on Binance. Let's accept that most of the centralized exchange now was following governments guidelines and protocols and they didn't care about us, it's all about their business. I have doubt that many Binance users now have been moved into other exchanges platform because of these heavy regulations by Binance.

Not a trap though but it's the usual thing that we traders are aware of. It's just a mix of experiences and even me, I wouldn't use a VPN upon accessing my account.
It's easier to log in if they detect the usual IP that we use on them so that there's no problem upon logging in. I don't think that when you use a VPN, they'll seize your account, they'll just ask for some verifications to verify that it's you, the actual owner of that account.

sheenshane

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Quote from: blockman on October 26, 2021, 02:26:23 PM

Binance got your identity so if they're going to look at your account by chance and you're accessing through a VPN, it might trigger them that you're logging in from another country's IP address.
Although to give you some delight, I've read people who have been using VPN all along and they have no issues about it and they're free to navigate with all of Binance's features.

But I wouldn't use VPN if I were them, it seems kind of a trap when Binance triggers and detect that you are using a VPN they will surely seize your account and the worst scenario is they will hold your fund and will never give it to you.

If Binance isn't for you, try to find other exchanges platform that has the same on Binance. Let's accept that most of the centralized exchange now was following governments guidelines and protocols and they didn't care about us, it's all about their business. I have doubt that many Binance users now have been moved into other exchanges platform because of these heavy regulations by Binance.

Stedsm

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Simple, you won't be allowed to go to futures even after using a VPN as Binance knows everything about you (at least what you told them when you created your account).
This is the major flaw when we talk about regulations, we were dying for it. Now it's taking back things from us we already had and were happily enjoying it before we even thought of asking for regulations.

shield132

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Quote from: PercT4b on October 26, 2021, 05:17:52 AM

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.

When the bitcoin crashed from 60K to 30K, a lot of futures positions were liquidated, enormous amount of money was liquidated and that's the reason why some countries decided to ban futures trading and leverage trading in overall. I would say that it's good decision, it's like compared to drugs, some people take them responsible and some - abuse but finally we ban them.

Quote from: PercT4b on October 26, 2021, 05:17:52 AM

So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

That's the question I am interested in it too. Once, I randomly opened Binance app on my smartphone when I was using VPN (connected to USA) and Binance immediately showed me a warning message that I was in the USA and couldn't use their service via my app, I needed to visit binance.us for more.

From this example, I can say that IP change worked but idk if they give you permission according to where you live or from where your citizenship comes.

Cryptoababe

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You don't need to stress your self using vpn to override or bypass ban. Just try to find another exchange to trade futures. There is ftx, bybit huobi etc. With Great features also.

blockman

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Binance got your identity so if they're going to look at your account by chance and you're accessing through a VPN, it might trigger them that you're logging in from another country's IP address.
Although to give you some delight, I've read people who have been using VPN all along and they have no issues about it and they're free to navigate with all of Binance's features.

Topic: Ban on Binance Futures (Read 196 times)