Topic: Ban on Binance Futures - page 2. (Read 196 times)
Binance did increase their security a lot over time. I use to have one alt Binance account. I didn't use it at all and it was fine but somehow recently, Binance flagged it to be locked if I can't verify and KYC it. I think even if you got past the VPN and can use Binance Futures normally, you're at serious risk of losing your account at any time. Totally not worth and you should move on or find an alternative exchange to use.
I don't think is possible for you to make use of VPN since all the details in relation to you account is with them already. Remember that Binance exchange is not like all these social media platform that you can use VPN to do what the company terms as wrong.
Binance futures is a highly risky trading. And many peoples lost their account balance in future trading. It is beacuse when we take high leverage and market goes opposite to our trade. There are two types of positions long position and short position.
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.
Well you said it. They have your account details and they know your country from the KYC so I do not think it would be wise to risk large some of money you have in your Binance. For small sum which you are good to lose, go for it.side with you on this (since they seems to be complying with local laws), then you'd still be in trouble.
You could, of course, run the stats for the chance that your account specifically will be given out but not sure if you want to take that chance.
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.
probably you can still use VPN for it but be careful because in just one mistake for sure your account will be locked forever. Or just withdraw your money instead while it's not late to assure your money in it is totally safe and after they implement that ban then look for another way aside of VPN .. Perhaps there are some exchanges out there that don't need kyc and etc as a requirements. Btw swap site's maybe a good option to trade.. 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.
Well the account should naturally be banned since you registered with it legally at first, I'd reckon Binance would actually remove or mark those accounts as legally removed since they were made with the mark of your country. You can try to create a new account while using VPN, I'd reckon that would work though you'd be stuck with the KYC requirements of Binance since afaik, Binance now requires KYC for someone to even deposit? Or was it withdraw? Afaik it was one of the two, and not being KYC registered severely limits what you can do afaik. Try to find another alternative, a new exchange I'd reckon.
Should have mentioned the country as well for extra knowledge. Well its not like you will be optioned out after finance bans its derivative trading. There are hundreds of other exchangers who offer this service. Recently share market based platforms like iqoptions and Toro has also emerged as life saver by offering the crypto based trading.
I don't think you need to go ahead of everything by using VPN. Why not check out another exchanger suitable for you and your country.
I don't think you need to go ahead of everything by using VPN. Why not check out another exchanger suitable for you and your country.
Vpn will not help you to be anonymous with your interactions with binance. Binance have pushed for Kyc and I believe you must have been kyced. If you can move to another country that is not banned from trading future, that should be fine otherwise, you should try defi activities on ethereum and you could find option trading and much more!
I think if the government is going to ban binance, then it will also give some time to the binance users to make their money transferrable and withdraw their money safely. So, done be too scarcely, always take good measure before going into some position. And another thing it will be very easy for the people to withdraw their money using VPN also.
I'm not sure what is the situation there but I would look for an alternative first.
Imo you have less chances of getting into the horror of exchanges freezing your funds if you aren't straight up breaking their TOS. Yes, you can put an amount which you find easier to leave but what if you were able grow it to a decent amount? Would you say it is still easy to let go if it took your time and effort to get it? that is also something to consider.
(this is all supposing that for some reason you are able to circumvent the ban wave. I highly doubt this but then again this happened: Some people are still able to trade p2p on Binance using new unverified accounts)
Imo you have less chances of getting into the horror of exchanges freezing your funds if you aren't straight up breaking their TOS. Yes, you can put an amount which you find easier to leave but what if you were able grow it to a decent amount? Would you say it is still easy to let go if it took your time and effort to get it? that is also something to consider.
(this is all supposing that for some reason you are able to circumvent the ban wave. I highly doubt this but then again this happened: Some people are still able to trade p2p on Binance using new unverified accounts)
Sad for you mate, sad news for everyone who uses centralized exchange especially Binance. But there is always an alternative for Binance or other centralized exchanges. There are some decentralized exchanges that can be still used if you consider trading futures markets. Have you heard DYDX exchange? Mango markets? They could be an alternative for Binance.
And speaking of using VPN, please be careful here, you should first read the TOS of the exchange because your funds could be locked and trapped once you break some of their rules or terms of services.
And speaking of using VPN, please be careful here, you should first read the TOS of the exchange because your funds could be locked and trapped once you break some of their rules or terms of services.
I think Binance has removed the first method of identifying suspicious behavior by detecting the user's ip since they tightened the user with KYC. Your identity is the basis for them to impose any restrictions which will be subject to your local regulations. So, there is no point in using a VPN.
If the Futures page is accessible to you with a VPN, I assume Binance is trapping users en masse.
If the Futures page is accessible to you with a VPN, I assume Binance is trapping users en masse.
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.
Well you said it. They have your account details and they know your country from the KYC so I do not think it would be wise to risk large some of money you have in your Binance. For small sum which you are good to lose, go for it.Your identity is at risk and Binance seems care more about their business than the idea bitcoin started.
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.
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.
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