Topic: Binance Blocks US Customers - Where Will Crypto Traders Go Now? (Read 253 times)
I'm sure there's plenty of people opening new accounts and trading under the 2BTC limit for newer accounts in the United States just like there's been plenty of people using Bitmex in the U.S. with VPNs to countries like Canada (excluding Quebec at the moment) or Mexico (or really any non-banned country) to circumvent the site's ban on American IPs. I could also see some people moving to KuCoin, though there's likely more people either just waiting for the U.S exchange or just using a VPN if those people don't want to submit KYC as I mentioned before.
September 17, 2019, 12:15:37 PM
I think they just want to polish the name of the business. because immediately Binance created an exchange binance link for Americans, that is Binance.us
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
I think Binance customers in US are being controlled by the government so this exchange does just this to make it more accessible for investors. The US market is very potential, so any exchange wants to own a large number of investors because this is the country using the most Crypto in the world. I personally believe that Binance US will be the best solution for US investorsAmericans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
The only advantage of that is that it will make the united states mellow in ever thinking of banning cryptocurrecy because right now, they need to generate a lot of money to start paying all those debts that they are owing, so this will be aggregate support for them and when it comes to united state traders, they are guru and they will make more money that they lose.
September 16, 2019, 12:36:49 PM
I think they just want to polish the name of the business. because immediately Binance created an exchange binance link for Americans, that is Binance.us
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
This is not true, the reason they pulled out in the first place is because the authorities have seen them illegally operating in the US without any proper license that's why they pulled the plugged immediately. Good thing that there were no bans issued or any kind of penalties towards them or else it would be hard for them to go back in the USA. Binance is one of those exchanges that are hot in the eyes in a lot of countries already that is why they are being careful now and all there moves now are done with the legal process. I'm sure that when they launch officially in the US they won't have any trouble grabbing some market share from the competition especially if they already have existing customers under their name.
September 16, 2019, 10:05:46 AM
There is already a huge number of them in coinbase, I doubt they move anywhere from there, the people who liked altcoins could move to poloniex easily, even tho it doesn't have that much coins listed and doesn't have too much volume, it is still owned by a national bank in USA which means all the due diligence must have been done before they bought the company. They may not get all the new hot stuff but when it comes to big currencies like ethereum or ripple they will be capable of getting it back and forth from poloneix to coinbase very easily.
It is not the optimal choice of trading but at least they have a choice that is safe and secure for them. Us people who do not live in USA and don't have those kinds of places have found a way to figure it out years ago and have been involved ever since.
It is not the optimal choice of trading but at least they have a choice that is safe and secure for them. Us people who do not live in USA and don't have those kinds of places have found a way to figure it out years ago and have been involved ever since.
September 15, 2019, 10:48:26 PM
I think they just want to polish the name of the business. because immediately Binance created an exchange binance link for Americans, that is Binance.us
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
I think Binance customers in US are being controlled by the government so this exchange does just this to make it more accessible for investors. The US market is very potential, so any exchange wants to own a large number of investors because this is the country using the most Crypto in the world. I personally believe that Binance US will be the best solution for US investorsAmericans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
Actually not controlled, but US government does not want to miss business in crypto exchange, so US government tightens tax rules for crypto players there. We know that US has a very complex taxation system, so I think that US government looks at everything towards business.
And well, Binance is smart enough to build innovation in crypto exchange where when others exchanges choose to run away from US customers, Binance instead views it as a new business opportunity.
September 15, 2019, 09:10:24 PM
I think they just want to polish the name of the business. because immediately Binance created an exchange binance link for Americans, that is Binance.us
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
I think Binance customers in US are being controlled by the government so this exchange does just this to make it more accessible for investors. The US market is very potential, so any exchange wants to own a large number of investors because this is the country using the most Crypto in the world. I personally believe that Binance US will be the best solution for US investors Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
September 15, 2019, 05:24:25 PM
that's a good step in my opinion,
I am sure that US binance will be supported and have many users, even though the holding is not a binance company directly, I'm sure CZ has chosen the right person which company will manage US Binance and use the name of binance, because this also concerns the good name of the binance in the cryptocurrency users.
I am sure that US binance will be supported and have many users, even though the holding is not a binance company directly, I'm sure CZ has chosen the right person which company will manage US Binance and use the name of binance, because this also concerns the good name of the binance in the cryptocurrency users.
CZ already hire BAM Trading Services as a front for his US Binance and as far as I know they are already accepting deposits beginning Sept 11.
@exstasie - yeah, I wonder why they chooses such company we haven't heard before (BAM), So I will assumed that this is just a puppet or dummy company put up for the purpose of partnering with Binance so that they can "legitimate" launch a platform in the US.
September 14, 2019, 02:14:03 PM
Traders from USA really have the right to choose, and Kucoin is one of these options for trading, so I see no problems in closing trades for traders from USA. By the way, I recently read the news that Binance should launch trade for US citizens soon and the situation should improve.
The "platform" they are rolling out soon (binance.us) is not really managed or operated by Binance at all. It is actually a totally different trading company named BAM. That is super weird. It is like going to Burger King and the entire store presents itself as Burger King, but they sell Five Guys.I'm pretty sure BAM is just a subsidiary Binance spun up. I tried looking into them. They appeared out of nowhere a couple months before Binance announced they were booting US traders. Their first ever social media posts were announcing the Binance partnership.
Binance has a penchant for announcing business partnerships, probably because they feel it gives them an air of legitimacy. They wanted to make a big show of finally establishing a FINCEN-registered entity in the US.
September 14, 2019, 09:33:10 AM
Traders from USA really have the right to choose, and Kucoin is one of these options for trading, so I see no problems in closing trades for traders from USA. By the way, I recently read the news that Binance should launch trade for US citizens soon and the situation should improve.
The "platform" they are rolling out soon (binance.us) is not really managed or operated by Binance at all. It is actually a totally different trading company named BAM. That is super weird. It is like going to Burger King and the entire store presents itself as Burger King, but they sell Five Guys. Even their employees wear official Burger King uniforms, their cups and napkins all say Burger King on them, yet they do not sell Whoppers. They sell a different product.It is something like that. Super weird.
Binance should just run the show and be transparent about everything. Whatever the reason is that is preventing Binance from operating their exchange for USA clients, they should just strong arm their way around everything. It is a huge exchange that trades like $1B per day. Binance should just go ahead and break some rules and run the show the way they want to, but instead they have set up some weird stage for this weird new company called BAM.
When an exchange circulates around $1,000,000,000 per day, money talks.
September 14, 2019, 08:13:12 AM
I am not sure that this is new to many of us as we already know that binance had promised to create a separate domain and platform for them which we are now seeing.
Initially when they came up with the ban thing, I actually didn’t see it as any big deal because binance is not the only trading platform that we have, we have their own exchange which is coinbase, and there is this other one as second option, kucoin who happen to growing at a very fast space which they have even added most of the coins on binance including their chain project, but now that they have created a separate platform for them, I would not know if it is a good news for them because with that platform, the government can easily have access to their transactions and I think that is what they aim to achieve by forcing binance to create the platform.
Initially when they came up with the ban thing, I actually didn’t see it as any big deal because binance is not the only trading platform that we have, we have their own exchange which is coinbase, and there is this other one as second option, kucoin who happen to growing at a very fast space which they have even added most of the coins on binance including their chain project, but now that they have created a separate platform for them, I would not know if it is a good news for them because with that platform, the government can easily have access to their transactions and I think that is what they aim to achieve by forcing binance to create the platform.
September 14, 2019, 02:27:25 AM
I think they just want to polish the name of the business. because immediately Binance created an exchange binance link for Americans, that is Binance.us
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
Americans are currently trading a lot of coins up to the present time. Therefore, they will never ignore such good customers.
September 14, 2019, 01:43:59 AM
Traders from USA really have the right to choose, and Kucoin is one of these options for trading, so I see no problems in closing trades for traders from USA. By the way, I recently read the news that Binance should launch trade for US citizens soon and the situation should improve.
September 13, 2019, 08:31:13 PM
I went to Coinbase Pro.
September 13, 2019, 07:36:59 PM
that's a good step in my opinion,
I am sure that US binance will be supported and have many users, even though the holding is not a binance company directly, I'm sure CZ has chosen the right person which company will manage US Binance and use the name of binance, because this also concerns the good name of the binance in the cryptocurrency users.
I am sure that US binance will be supported and have many users, even though the holding is not a binance company directly, I'm sure CZ has chosen the right person which company will manage US Binance and use the name of binance, because this also concerns the good name of the binance in the cryptocurrency users.
September 13, 2019, 06:23:24 PM
The Binance team has not released any hard details on the cryptocurrencies that will be listed at launch, but they did provide some assets they are considering.
They actually confirmed a couple days ago which currencies would be available at launch. For now only BTC, ETH, XRP, BCH, LTC, and USDT! Although they are hinting that more will be coming. All in all, I'm not too excited for Binance.us. It looks like a replay of Bittrex's move towards full KYC and subsequent separation of US customers. We all know how that went.
I'm on Coinbase Pro and Kucoin for now. I might open a new Binance account through VPN when the dust settles too. I'm looking at BaseFEX (or otherwise sticking with Bitmex) for leverage trading when bull season starts again.
September 13, 2019, 06:07:43 PM
The popular choices for US traders are now Kucoin & Bitrue. Alternatively, you can wait for Binance America to launch.
September 13, 2019, 05:34:43 PM
Hi Everyone!
There have been a lot of questions regarding what will happen now that Binance is blocking US traders. To answer many of these questions, I wrote up a nice article which addresses these concerns.
https://blog.shrimpy.io/blog/binance-blocks-us-customers
Please let me know if you have any questions after taking a look at the article!
There have been a lot of questions regarding what will happen now that Binance is blocking US traders. To answer many of these questions, I wrote up a nice article which addresses these concerns.
https://blog.shrimpy.io/blog/binance-blocks-us-customers
Please let me know if you have any questions after taking a look at the article!
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