Topic: Binance is getting frustrating (Read 215 times)
Its not an issue with binance though , most derivative platforms are facing this issue , most of the time the app goes down at the time of pump and its been a regular practice with centralized exchanges , even binance have so many complaints against it ... they have been expanding but in lieu of this small investor should not be penalized for their own funds ...
Now 10 days ago they blocked any operations on both accounts. I had to re-verify the already verified account and additionally verify my 2nd account. Both by Id, Phone and video call. The verification of the 2nd account was denied because I have already an account on Binance.
Well obviously you were fine before Binance required KYC, now the problem is they enforce that rule. The question is are you submitting the same KYC details on both your accounts? If yes, then you will be blocked, thye don't allow that. You are only allowed to have sub-accounts.
Fortunately or unfortunately we have to abide by the binance rules and there is no way to bypass them. If you are not happy with the binance the only option is to leave the platform. Also we don't have many crypto platforms therefore our choices are limited.
When they have fewer platforms the companies tend to have their monopoly and this is what binance is doing right now.
Daily as binance investors faces a challenging one ,every one is getting furious ,how fast they will recover the recent loses ,The case at hand now is how to balance the loses and recover it back ,all who faces this loss ,temper is been tried and staying glued to their app to see how it will be regained ,the tention is getting high day by day and frustration taking over, but many believes with time all will be normal.once more.
Nice, now Dapp is more meaningless.
Exactly!!! What's the point of calling it a decentralized app if they can block users from trading and request for intermediate KYCLooks like Binance is done and dusted for anyone who hates KYC. They should probably erase Binance out of their minds and look for alternative that have not yet started enforcing Mandatory KYC
Important Changes About Binance DApp Identity Verification
Nice, now Dapp is more meaningless. The last few months people have turned to safepal just to avoid KYC on Binance including me. It seems that in the near future this application will be uninstalled in bulk because it is no different from using the regular version of the App.
By the way, thanks for this information.
Important Changes About Binance DApp Identity Verification
· Effective from 00:00AM UTC on May 12, 2022, all new users are required to complete Intermediate Verification to access the Binance Trading DApp within the SafePal App, including cryptocurrency deposits, trades, and withdrawals.
· Effective from 00:00AM UTC on May 12, 2022, existing users who have not yet completed Intermediate Verification will have their account permissions temporarily changed to “Withdraw Only”, with services limited to withdrawal, order cancellation, position close, and redemption. Once users complete the Intermediate Verification, they will be able to resume full access to the Binance trading DApp within the SafePal App.
https://blog.safepal.io/important-changes-about-binance-dapp-identity-verification
· Effective from 00:00AM UTC on May 12, 2022, all new users are required to complete Intermediate Verification to access the Binance Trading DApp within the SafePal App, including cryptocurrency deposits, trades, and withdrawals.
· Effective from 00:00AM UTC on May 12, 2022, existing users who have not yet completed Intermediate Verification will have their account permissions temporarily changed to “Withdraw Only”, with services limited to withdrawal, order cancellation, position close, and redemption. Once users complete the Intermediate Verification, they will be able to resume full access to the Binance trading DApp within the SafePal App.
https://blog.safepal.io/important-changes-about-binance-dapp-identity-verification
Binance is expanding in many countries and these countries impose more regulatory restrictions.
you will find that things will increase, whether over time they will ask you
These things will be requested from you quickly and in a short time so try to use another platform that does not have regulatory pressure such as Binance.
you will find that things will increase, whether over time they will ask you
- Identity, proof of residence.
- A video of you with a specific word written.
- Recent proof of address.
- Salary certificate and source of funds.
- Tax and property certificate.
These things will be requested from you quickly and in a short time so try to use another platform that does not have regulatory pressure such as Binance.
Well this is not the first time though that people are complaining against Binance.
But what can you do? I mean they are just complying with the mandated KYC because government and financial agencies around the world are forcing top exchanges to follow this because of strict AML law. So I guess everyone who have been trading in Binance have undergone this proceeding. But as you have said, if you don't want to and would rather go with other exchanges, then it's your choice.
But what can you do? I mean they are just complying with the mandated KYC because government and financial agencies around the world are forcing top exchanges to follow this because of strict AML law. So I guess everyone who have been trading in Binance have undergone this proceeding. But as you have said, if you don't want to and would rather go with other exchanges, then it's your choice.
Did you just wake up recently release that Binance now needs mandatory KYC?
Also the practice of staking and earning interest on a centralized exchange is some dangerous move. What if you wake up one day and Binance has ceased operations? How are you going to get back your funds?
Even you are lucky, Binance lets you withdraw your funds from the locked account. Some scam exchanges like HitBTC would fuck you up.
Look for noncustodial wallets that offer staking options
Also the practice of staking and earning interest on a centralized exchange is some dangerous move. What if you wake up one day and Binance has ceased operations? How are you going to get back your funds?
Even you are lucky, Binance lets you withdraw your funds from the locked account. Some scam exchanges like HitBTC would fuck you up.
Look for noncustodial wallets that offer staking options
The frustration comes when you try to change your usual activity, as soon as the red dots start in your account the more problems increase daily and one of these factors that increase the red dots is logging in from a new device, new IP address, changing email, creating multiple accounts.
In short, changing the email gave a red indicator, and your attempt to create another account made that indicator red, and therefore you will have to go through a lot of verification to be able to naturally access your account.
I suggest that you read the terms of service, ask members about similar cases and try not to do something you are not sure of with that account such as creating a new account, changing the IP address or other things.
In short, changing the email gave a red indicator, and your attempt to create another account made that indicator red, and therefore you will have to go through a lot of verification to be able to naturally access your account.
I suggest that you read the terms of service, ask members about similar cases and try not to do something you are not sure of with that account such as creating a new account, changing the IP address or other things.
Just note that if anything goes wrong it will be on Binance team's neck, they are doing everything they can so that your asset stays safe on their platform, I don't see anything wrong with what Binance did, the fault is from your end because you broke the rules and regulation of that exchange.
Yes, the fault is on OP and it's understandable why Binance gave that action on his accounts. He can still appeal on that and explain things and what has happened.But I doubt that he can still continue to use the exchange but it's possible they'll give the remaining funds that he has for both of the accounts. He just need to clearly explain all of it or else, it's final and both accounts will be closed without any retrieval of funds.
But you can see on how big Binance is today right now, kucoin is also big but not as big as binance as it's the biggest.
Even on this forum it is a violation to creat 2 accounts with the same identity, I don't think it is right as well.
Alt accounts are actually fine in the forum as long as you don't use them for any kind of cheating such as ban evasion, sending merits to each other, etc. Message boards and exchanges are two different things, I don't think they're comparable.
Just note that if anything goes wrong it will be on Binance team's neck, they are doing everything they can so that your asset stays safe on their platform, I don't see anything wrong with what Binance did, the fault is from your end because you broke the rules and regulation of that exchange.
Yes, the fault is on OP and it's understandable why Binance gave that action on his accounts. He can still appeal on that and explain things and what has happened.But I doubt that he can still continue to use the exchange but it's possible they'll give the remaining funds that he has for both of the accounts. He just need to clearly explain all of it or else, it's final and both accounts will be closed without any retrieval of funds.
Just note that if anything goes wrong it will be on Binance team's neck, they are doing everything they can so that your asset stays safe on their platform, I don't see anything wrong with what Binance did, the fault is from your end because you broke the rules and regulation of that exchange.
Yes, the fault is on OP and it's understandable why Binance gave that action on his accounts. He can still appeal on that and explain things and what has happened.But I doubt that he can still continue to use the exchange but it's possible they'll give the remaining funds that he has for both of the accounts. He just need to clearly explain all of it or else, it's final and both accounts will be closed without any retrieval of funds.
Just note that if anything goes wrong it will be on Binance team's neck, they are doing everything they can so that your asset stays safe on their platform, I don't see anything wrong with what Binance did, the fault is from your end because you broke the rules and regulation of that exchange.
Years ago, binance isn't that strict with compliance as an exchange to the government rules for businesses like them. But eventually, their popular has been widened and became the most popular exchange.
So, rules have changed and they've became stricter which they're now requiring all customers with KYC. And as much as with their rules, if you've got the same identity for both accounts and it's on their T&C, you have violated their terms.
So, rules have changed and they've became stricter which they're now requiring all customers with KYC. And as much as with their rules, if you've got the same identity for both accounts and it's on their T&C, you have violated their terms.
Regarding the 2FA, the email verification is probably the most useless thing when it comes to security, if your account is hacked it started with your email, you can always use google authenticator or a security key and you don't depend again on third parties like an email or a mobile data provider.
Binance is using a combination of 2FAs so if OP has their email verified + authenticator app enabled, binance would ask for both of them. Last time I check (months ago), there was no workaround to only use one. Email and SMS 2fa are both insecure anyway, imo they are more likely to provide inconvenience rather than security.
Meanwhile, you can login to your binance.com account by scanning a QR code using the binance app lol.
It seems, the start-up and anonymous time of crypto currencies is finally over.
Cryptocurrencies how they were meant to be used have nothing to do with what you're blaming Binance.
First, the main thing was to avoid a third party and to hold your coins in your own wallet, you're not doing any of those, then you use a centralized service that of course can act within its own rules and change those overnight. Not even mentioning staking that again is something more related to traditional banks than bitcoin.
Regarding the 2FA, the email verification is probably the most useless thing when it comes to security, if your account is hacked it started with your email, you can always use google authenticator or a security key and you don't depend again on third parties like an email or a mobile data provider.
As for the second account, common, you go against their ToS and then you wonder why it happened?
And yes, I submitted the same KYC details on both accounts. The denied the verification on the 2nd. So I'm able to withdraw any coins only. This means, I have to wait, until my staked coins will be redeemed and transfer them afterwards to my main account.
Looks like your accounts has been damaged due to breaking the rules, I can't predict the long term consequences. It looks like at this point your account will be under their supervision. If you wish to continue, I suggest you to send a request to support to deactivate one of your accounts. And most importantly, don't put all your money into binance.
Well obviously you were fine before Binance required KYC, now the problem is they enforce that rule. The question is are you submitting the same KYC details on both your accounts? If yes, then you will be blocked, thye don't allow that. You are only allowed to have sub-accounts.
I didn't know about subaccounts yet. And yes, I submitted the same KYC details on both accounts. The denied the verification on the 2nd. So I'm able to withdraw any coins only. This means, I have to wait, until my staked coins will be redeemed and transfer them afterwards to my main account.
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