BINANCE - Suspicious exchange behaviour - KYC

Matematic

member

Activity: 420

Merit: 11

Quote from: TryNinja on February 18, 2019, 01:50:33 PM

Quote from: Ave_Maximus on February 18, 2019, 01:41:37 PM

use changenow and you won't be asked for kyc, it's better to swap with small amounts near 1-2 btc max

That's a nice post history you got there... Definitely not shady at all ^/s

Quote from: Ave_Maximus on February 18, 2019, 01:43:04 PM

you forgot to add changenow

Quote from: Ave_Maximus on February 13, 2019, 05:04:09 PM

You already described changenow Grin

Quote from: Ave_Maximus on February 08, 2019, 06:42:52 PM

none of them. exchangers. they don't store your funds, they aren't asking you for docs, on changenow I'm swapping coins without problems (near 5-6 btc equivalent)

Quote from: Ave_Maximus on February 09, 2019, 05:40:23 PM

Yes, it can. F.e. changenow - it's not so old exchange service if I'm not mistaken, but it's a quite popular

Quote from: Ave_Maximus on February 10, 2019, 03:28:53 PM

my friend trading there. but I prefer changenow

Quote from: Ave_Maximus on January 30, 2019, 05:28:07 PM

it's better to use well-known exchange services (like changenow) instead of such scam exchanges

Quote from: Ave_Maximus on January 30, 2019, 05:25:08 PM

I prefer to use changenow.io. It's simple and fast exchanger, without limits. I've changed there over 7 btc per one transaction, without kyc or any other problems

Wasn't ChangeNow being accused of blocking 100+ BCH from a user some time ago?

If I'm not mistaken, that user provided fake ID, although he got a refund. Btw it was a long time ago

Zalaster

member

Activity: 308

Merit: 13

Quote from: Radientgurkin on February 16, 2019, 04:08:20 PM

DO NOT TRUST THAT BINANCE WILL LET YOU TRADE WITHOUT KYC

Unfortunately, this is the case, and you should choose what is more important for you, use a reliable exchange or preserve anonymity. I use Binance provided them full information.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: 1Referee on February 18, 2019, 07:09:36 AM

Quote from: Caladonian on February 17, 2019, 02:08:21 PM

It's needs to pay attention with this concern and see how binance will act about this.

Binance isn't doing anything wrong here. It's just them slowly moving towards an exchange that's regulated enough to offer fiat trading services.

People expect an exchange to remain the same, but that's not how things work here, and we have enough evidence to back that up with other exchanges that did the exact same thing.

i don't think it has to do with fiat. it has to do with exchanges blowing up in size/volume and the USA government---especially FINCEN and the treasury department---becoming interested in them. that's why shapeshift mandated KYC too.

the 3-letter agencies have made very clear that AML regulations apply to crypto (even without fiat/BTC interaction) and binance has undoubtedly received hundreds or thousands of law enforcement requests which i am sure they comply with every time. tbh i'm still unsure how they can justify the 2BTC daily withdrawal without KYC. it seems really dangerous.

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote from: Ave_Maximus on February 18, 2019, 01:41:37 PM

use changenow and you won't be asked for kyc, it's better to swap with small amounts near 1-2 btc max

That's a nice post history you got there... Definitely not shady at all ^/s

Quote from: Ave_Maximus on February 18, 2019, 01:43:04 PM

you forgot to add changenow

Quote from: Ave_Maximus on February 13, 2019, 05:04:09 PM

You already described changenow Grin

Quote from: Ave_Maximus on February 08, 2019, 06:42:52 PM

none of them. exchangers. they don't store your funds, they aren't asking you for docs, on changenow I'm swapping coins without problems (near 5-6 btc equivalent)

Quote from: Ave_Maximus on February 09, 2019, 05:40:23 PM

Yes, it can. F.e. changenow - it's not so old exchange service if I'm not mistaken, but it's a quite popular

Quote from: Ave_Maximus on February 10, 2019, 03:28:53 PM

my friend trading there. but I prefer changenow

Quote from: Ave_Maximus on January 30, 2019, 05:28:07 PM

it's better to use well-known exchange services (like changenow) instead of such scam exchanges

Quote from: Ave_Maximus on January 30, 2019, 05:25:08 PM

I prefer to use changenow.io. It's simple and fast exchanger, without limits. I've changed there over 7 btc per one transaction, without kyc or any other problems

Wasn't ChangeNow being accused of blocking 100+ BCH from a user some time ago?

Ave_Maximus

jr. member

Activity: 78

Merit: 1

use changenow and you won't be asked for kyc, it's better to swap with small amounts near 1-2 btc max

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

Quote from: Godex_io on February 18, 2019, 07:01:31 AM

In today's realities, it's even surprising that you managed to trade for so long without passing KYC.
If you need to quickly exchange the crypto without registration - I would recommend Godex.io. This is an anonymous exchanger with more than 200 altcoins, no KYC at all

Though I kinda like how your exchange work but it's only a matter of time where you have to apply KYC to your exchange, once the government forces you to do so.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Caladonian on February 17, 2019, 02:08:21 PM

It's needs to pay attention with this concern and see how binance will act about this.

Binance isn't doing anything wrong here. It's just them slowly moving towards an exchange that's regulated enough to offer fiat trading services.

People expect an exchange to remain the same, but that's not how things work here, and we have enough evidence to back that up with other exchanges that did the exact same thing. It's like people still believe that things are different this time, because CZ is such a respected public face, but that's just retarded. He has a business to run and will do what's needed to comply from where they are right now.

The only non verified service I use currently is Bitmex, but it's just a matter of time before they follow and ask people to verify themselves.

Godex_io

member

Activity: 97

Merit: 84

In today's realities, it's even surprising that you managed to trade for so long without passing KYC.
If you need to quickly exchange the crypto without registration - I would recommend Godex.io. This is an anonymous exchanger with more than 200 altcoins, no KYC at all

Bostraticus

jr. member

Activity: 59

Merit: 1

This becomes a real problem, but Binance can demand it anyway based on its own considerations. I think you should provide documents if you risk losing a lot of money, but I know that even after checking KYC they can block the account. I had such a problem with Bittrex, after which I stopped using services with registration. I think it’s safer to use exchangers without registering. Of course, they may also require KYC, but you can get around this by making small exchanges. Now I use Changenow, by the way, they just make a refund in case of failure from KYC.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: pooya87 on February 18, 2019, 12:32:21 AM

Quote from: joniboini on February 17, 2019, 01:23:23 AM

I'm pretty sure every CEX or even DEX will start to require people do KYC, based on where they're operating.

DEX stands for Decentralized EXchange. and based on their nature they can not ask for KYC because there is no centralized authority in there to take the KYC and check who is trading what with whom! maybe there are some weird designs calling themselves "decentralized" while they are not and then they ask for KYC but that is not what DEX is.

there is no DEX that is fully decentralized yet. there is always centralized servers, centralized order matching, centralized domain name system, etc. this is why the founder of etherdelta was charged by the SEC. if it were truly "decentralized" there would be no one to charge: https://www.sec.gov/news/press-release/2018-258

at the same time the etherdelta charges came down, the largest DEX (IDEX) announced they were introducing full KYC. i'm sure the SEC had some influence on the site operators.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: joniboini on February 17, 2019, 01:23:23 AM

I'm pretty sure every CEX or even DEX will start to require people do KYC, based on where they're operating.

DEX stands for Decentralized EXchange. and based on their nature they can not ask for KYC because there is no centralized authority in there to take the KYC and check who is trading what with whom! maybe there are some weird designs calling themselves "decentralized" while they are not and then they ask for KYC but that is not what DEX is.

Quote from: bL4nkcode on February 17, 2019, 06:37:23 PM

I've seen issues/complains like this on twitter tweeting binanace and CZ's account.

Yet, as I logged to my account I still have 2 BTC withdrawal so KYC is not yet required but maybe I'll it see soon or I'll force to do KYC since I have some fractions there.

this may be a country dependent issue. meaning if you are coming from country X, Y, Z then they force KYC on you and if you are from anywhere else they don't.

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

I've seen issues/complains like this on twitter tweeting binanace and CZ's account.

Yet, as I logged to my account I still have 2 BTC withdrawal so KYC is not yet required but maybe I'll it see soon or I'll force to do KYC since I have some fractions there.

Lanatsa

hero member

Activity: 2968

Merit: 687

Quote from: Radientgurkin on February 16, 2019, 04:08:20 PM

I've noticed some sketchy behavior from Binance. They are now suddenly demanding KYC from me. I've not gone over any limits. When asking the support for an explanation they just offer "out of the box" explanations.

A buddy of mine got the same. We've both been using Binance for over 18 months and then suddenly this happens.

Summary:

DO NOT TRUST THAT BINANCE WILL LET YOU TRADE WITHOUT KYC

For now i havent still experience such request since im not usually surpassing on Daily limit on an unverified account.Its odd that they do already enforce KYC randomly on some users.
Im afraid that sooner or later they would really go into the same path on where poloniex did.

mindrust

legendary

Activity: 3276

Merit: 2442

People really should start using Bisq.

https://bisq.network/
Download it and be done.

You can even buy crypto with your dollars there but you don't have to. If you are only after a reliable exchange to make trades use bisq. I don't understand why the volume on bisq is still so low.

https://coinmarketcap.com/exchanges/bisq/
Only $68k volume in the last 24h, sad.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: Caladonian on February 17, 2019, 02:08:21 PM

I also noticed that too, when polo and trex asked for this KYC many traders stop using the platform and timingly Binance showed up out of the blue and begin to reign, if they are now asking for this same concern before, for sure some users will also do the same.

It's needs to pay attention with this concern and see how binance will act about this.

Soon enough the only places you can avoid this will be the type of places not worth the risk, or proper decentralised exchanges that happen on blockchains themselves.

Either make one's peace with it or retire from the trading game. It's only going one way.

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: vv181 on February 17, 2019, 02:01:23 PM

One of the reasons why people choose Binance is because they allowing to trade without strict KYC verification. If they really forced users to do KYC verification then it becomes the problem for some of us that want to utilize the decentralized nature of cryptocurrencies, and Binance potentially could lose a few users.
We really need to urge the decentralized exchanges development process and contribute it because I believe it is the most possible way to protect our privacy and anonymity in the spaces.

I also noticed that too, when polo and trex asked for this KYC many traders stop using the platform and timingly Binance showed up out of the blue and begin to reign, if they are now asking for this same concern before, for sure some users will also do the same.

It's needs to pay attention with this concern and see how binance will act about this.

vv181

legendary

Activity: 1932

Merit: 1273

One of the reasons why people choose Binance is because they allowing to trade without strict KYC verification. If they really forced users to do KYC verification then it becomes the problem for some of us that want to utilize the decentralized nature of cryptocurrencies, and Binance potentially could lose a few users.
We really need to urge the decentralized exchanges development process and contribute it because I believe it is the most possible way to protect our privacy and anonymity in the spaces.

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: Radientgurkin on February 16, 2019, 04:08:20 PM

DO NOT TRUST THAT BINANCE WILL LET YOU TRADE WITHOUT KYC

As others mentioned, they won't be able to continue their business if they keep allowing people to trade without any KYC. If you're mad, you should be mad with the regulations too. If you can't trust centralized exchanges then don't use it, better stay with DEX unless you're a trader.

I'm pretty sure every CEX or even DEX will start to require people do KYC, based on where they're operating. I think they should at least allow people to withdraw their funds if they don't want to do KYC though. So instead of not allowing them to withdraw, it's better to not allow trading and instead allows withdrawal/deposit.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: Radientgurkin on February 16, 2019, 04:08:20 PM

I've noticed some sketchy behavior from Binance. They are now suddenly demanding KYC from me. I've not gone over any limits. When asking the support for an explanation they just offer "out of the box" explanations.

A buddy of mine got the same. We've both been using Binance for over 18 months and then suddenly this happens.

Summary:

DO NOT TRUST THAT BINANCE WILL LET YOU TRADE WITHOUT KYC

Nothing you can do. Just got to submit the docs to them.

With increasing regulation around the world it's pretty much a matter of time before a centralised exchange forcing people to do KYC. Poloniex had to do it, Bittrex had to do it, shapeshift had to do it. And even though Binance let people trade anonymously for quite a while it's apparent that that will come to an end eventually if they were to continue to offer their services worldwide.

That's why I don't store funds on centralised exchanges, it sort of reduces the risks of this happening. Make your deposit, do your trade, and get out right away, unless you are comfortable with providing KYC.

pooya87

legendary

Activity: 3472

Merit: 10611

change of rules overnight has always been one of my concerns about these types of exchanges too. last time i was affected by this was in Bittrex which i was using for a couple of years before they suddenly decided to first enforce KYC and then close a lot of accounts and rob their money.
unfortunately there isn't much we can do about it either, other that try and migrate to decentralized exchanges for altcoin trading so that we can eliminate all these issues all at once.

Topic: BINANCE - Suspicious exchange behaviour - KYC (Read 251 times)