Do you already noticed about the changing of identity verification of Binance ? - page 3.

jrrsparkles

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Quote from: jerry0 on September 21, 2021, 01:25:05 AM

Okay so can others confirm this then?

So if you do not plan to submit any KYC to binance and you have coins there... you should withdraw it within the next month correct? Whether its btc, altcoins or whatever it is?

But are we allowed to trade btc or altcoins or other coins before we withdraw? Or we cannot? Again im talking about people who never submitted any KYC. Also the max withdraw is 0.06 btc right? So if you withdraw an altcoin, the max you can withdraw in one day is equal to 0.06 btc? So if someone had like 0.5 worth of btc on binance to make it simple and do not plan on submitting KYC, they should be withdrawing the max 0.06 btc for the next 9 days etc?

So what if you have some a few altcoins and btc but tiny amount? But that total amount is say a bit more than 0.06 btc total if you add the altcoins and btc etc?

Just withdraw the max one day and then the rest the next day? I have altcoin and a very tiny amount of btc there.

Yes, if you don't have a plan to submit KYC to binance then better withdraw your funds ASAP and if you have something like 5BTC then if its not possible to withdraw the funds in the one month period then you can still withdraw them after the time because as per OP the existing users are allowed to withdraw their funds completely.

The same goes to the altcoin as well, you can keep withdrawing everyday until you hit the complete wipeout.

Kong Hey Pakboy

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You can just do the level one verification of Binance, it's not like you're shelling in and out thousands of bitcoin, their most basic one is already good enough with 2 bitcoin as the largest withdraw limit for the day.

jerry0

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Okay so can others confirm this then?

So if you do not plan to submit any KYC to binance and you have coins there... you should withdraw it within the next month correct? Whether its btc, altcoins or whatever it is?

But are we allowed to trade btc or altcoins or other coins before we withdraw? Or we cannot? Again im talking about people who never submitted any KYC. Also the max withdraw is 0.06 btc right? So if you withdraw an altcoin, the max you can withdraw in one day is equal to 0.06 btc? So if someone had like 0.5 worth of btc on binance to make it simple and do not plan on submitting KYC, they should be withdrawing the max 0.06 btc for the next 9 days etc?

So what if you have some a few altcoins and btc but tiny amount? But that total amount is say a bit more than 0.06 btc total if you add the altcoins and btc etc?

Just withdraw the max one day and then the rest the next day? I have altcoin and a very tiny amount of btc there.

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Quote from: Potato Chips on September 20, 2021, 11:54:06 AM

Binance is under a lot of pressure from authorities, it wouldn't be weird if they take back their NO kyc but withdraw OK promise. Best to not feel secure about this and withdraw funds ASAP if you're someone who doesn't want to verify their account.

and IIRC @jerry0 is a US person (?), another reason to withdraw ASAP if so.

Dont leave any if you have an account in Binance, withdraw it as long as possible until the deadline comes.

On the Binance side, there's nothing they can do is to follow the financial regulators that now targeted those big exchange companies like Binance and next to other's who did not comply with KYC but it is a centralized exchange.

The heavy regulation has occurred to Binance because it is being accused by the authorities that they are helping unknown large transactions and accepting tips from it which is not a good idea. It could be from the money laundering issues. Just withdraw your fund on Binance and transfer it quickly to your Bitcoin wallet.

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Binance is under a lot of pressure from authorities, it wouldn't be weird if they take back their NO kyc but withdraw OK promise. Best to not feel secure about this and withdraw funds ASAP if you're someone who doesn't want to verify their account.

and IIRC @jerry0 is a US person (?), another reason to withdraw ASAP if so.

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Quote from: jerry0 on September 18, 2021, 05:46:16 PM

I been an existing user for a long time at binance. But if i don't submit KYC documents by next month, doesn't that mean I wouldn't be able to withdraw my funds though? That seem to be what the message is saying?

When you do read up;

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.

You do only have 1 month starting from now for you to verify or have KYC for your account permissions to stay up on normal or the way it works and its clearly stated.

Pasting the same source: https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca

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Quote from: jerry0 on September 18, 2021, 05:46:16 PM

I been an existing user for a long time at binance. But if i don't submit KYC documents by next month, doesn't that mean I wouldn't be able to withdraw my funds though? That seem to be what the message is saying?

No. Not at all. According to Binance:

Quote

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.

So basically, the only thing you can do from a non KYC account like yours is only to withdraw and nothing more. I'm unclear about if there's a deadline but I'm not sure there is considering Binance can't be penalized for such as they already restricted users to all aspects of their platform - Futures, p2p, etc.

jerry0

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I been an existing user for a long time at binance. But if i don't submit KYC documents by next month, doesn't that mean I wouldn't be able to withdraw my funds though? That seem to be what the message is saying?

jrrsparkles

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Quote from: jerry0 on September 18, 2021, 11:45:53 AM

snip~

Well aren't they going to implement these changes in a month though? It does give a date in that message when you check the binance site.

Again I never sent in verification documents. So that means for the next month or so, I could still withdraw up to 0.06 btc a day without any issue right?

So if I do not plan on submitting KYC, then make sure i withdraw my balance within a month... is that correct? Otherwise i wouldn't be able to withdraw anything at all once that day comes?

I am not sure that, they already started to rollout their policy changes already or not but it may happen anytime maybe in a month or later.

But since you are an existing user there will be no issues for you to withdraw whatever funds you have.

jerry0

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Quote from: jrrsparkles on September 18, 2021, 09:53:20 AM

Quote from: jerry0 on September 18, 2021, 02:07:02 AM

Also what account verification am I on? I never submitted any KYC documents. So I am basic non KYC right? But you cannot go below that... correct?

So how many total verification is there on binance?

Non KYC basic
KYC Intermediate
KYC Advanced?

Is that accurate?

Also could people who never submitted KYC documents at the moment still trade? I am considering trading my altcoin for btc or usdt/usdc and then cashing out.

Also the 0.06 btc withdraw limit... so if you withdraw an altcoin or usdt/usdc... its basically whatever is equal to the 0.06 btc withdraw limit?

This is all about the upcoming changes in their policies not about the current scenario and it seems they are going to implement these changes in the multiple phases so you can keep trading there until you account get into their policy change.

If they made changes then you can't be able to continue your trading activities unless you submit KYC details but if you are not ready to accept the changes then you are free to withdraw your funds available there as per mentioned in OP.

Well aren't they going to implement these changes in a month though? It does give a date in that message when you check the binance site.

Again I never sent in verification documents. So that means for the next month or so, I could still withdraw up to 0.06 btc a day without any issue right?

So if I do not plan on submitting KYC, then make sure i withdraw my balance within a month... is that correct? Otherwise i wouldn't be able to withdraw anything at all once that day comes?

jrrsparkles

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Quote from: checkmatesir on September 18, 2021, 11:02:12 AM

First of all, Thank you for the information, as well as getting into the binance exchange , the security of binance is going to tough and it has been improving with time to time, which is not easy for a hacker to open it clearly or even easy, It all depends upon the users that how can he manage it, but binance has even a good security now I must say.

You can't say that it will never happen and FYI binance already hacked also they stole funds but binance covered the hacked funds with their SAFU and ensure their customers are not affected by the hack. Thinking that someone will steal your information from binance is secondary all you need to worry is what if binance itself change their attitude in future and sell your data for huge money.

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First of all, Thank you for the information, as well as getting into the binance exchange , the security of binance is going to tough and it has been improving with time to time, which is not easy for a hacker to open it clearly or even easy, It all depends upon the users that how can he manage it, but binance has even a good security now I must say.

jrrsparkles

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Quote from: jerry0 on September 18, 2021, 02:07:02 AM

Also what account verification am I on? I never submitted any KYC documents. So I am basic non KYC right? But you cannot go below that... correct?

So how many total verification is there on binance?

Non KYC basic
KYC Intermediate
KYC Advanced?

Is that accurate?

Also could people who never submitted KYC documents at the moment still trade? I am considering trading my altcoin for btc or usdt/usdc and then cashing out.

Also the 0.06 btc withdraw limit... so if you withdraw an altcoin or usdt/usdc... its basically whatever is equal to the 0.06 btc withdraw limit?

This is all about the upcoming changes in their policies not about the current scenario and it seems they are going to implement these changes in the multiple phases so you can keep trading there until you account get into their policy change.

If they made changes then you can't be able to continue your trading activities unless you submit KYC details but if you are not ready to accept the changes then you are free to withdraw your funds available there as per mentioned in OP.

jerry0

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Also what account verification am I on? I never submitted any KYC documents. So I am basic non KYC right? But you cannot go below that... correct?

So how many total verification is there on binance?

Non KYC basic
KYC Intermediate
KYC Advanced?

Is that accurate?

Also could people who never submitted KYC documents at the moment still trade? I am considering trading my altcoin for btc or usdt/usdc and then cashing out.

Also the 0.06 btc withdraw limit... so if you withdraw an altcoin or usdt/usdc... its basically whatever is equal to the 0.06 btc withdraw limit?

jerry0

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So I opened a binance account a while back. I did a few trades and after that, I just kept my coins there.

How many verification on binance could you have? Obviously if you are fully verified, you can withdraw the max amount. But for people who did not do verification, is the btc withdraw limit still 0.06 btc at the moment?

So if you don't plan to submit any verification documents, make sure you withdraw your balance by that date, otherwise you can't withdraw? Can anyone confirm this?

I remember last time they had that message of if you aren't verified by a certain date, you could only withdraw up to 0.06 btc and thats it. But I didn't bother with it since I wouldn't mind withdrawing my balance in one or two times etc.

Can anyone else confirm this? So basically if you do not plan to send in verification documents, make sure you withdraw your coins soon? So at the moment, we can't even do trades?

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This change really makes me uncomfortable. Why did they suddenly change the identity verification and make it harder? Do you guys feel this strongly ruins the decentralization slogan in crypto? To be honest, I don't see the urgent need of the Binance team to change this verification requirement to all the users. CZ must explain to us what's happening with this new verification idea.

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Quote from: bamb on September 17, 2021, 10:50:44 AM

Binance is aggressively pushing for kyc for all it's customers. There are various lawsuit against binance exchange from different jurisdiction and this might have led to the compulsory kyc for customers. I rarely use centralized exchange these days, I trade my btc on different side chain which are very fast and cost less to trade!

Thus, Binance will become the first regulated exchange from Tier #1. And this will allow the exchange to be in the legal field, which will entail access in those countries in which Binance is currently prohibited. In addition, against this background, the price of the BNB exchange coin can also grow significantly.

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Quote from: sujonali1819 on September 15, 2021, 11:48:21 AM

This warn has made on 2021-08-20 13:01. But today when I using binance app it was showing a notification again and again, And I force me to read it. The notice was about the changing of user Identify verification . A lot of change there. You guys always should take care about it before the deadline.

Here is a portion of the article. To read it details plz visit the source link .

Source: https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca

If this notification keep popping up means you are yet to verify and you can't really do anything to stop this notification unless you verify it after accepting their changes regarding KYC. This change will really affect the trading volume of Binance for sure because people choose to trade on Binance due to no KYC for 2 BTC and below withdrawal everyday.

Users who are not ready to accept this change cam withdraw their funds as soon as possible or else they may fave delayed withdrawal.

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Quote from: bamb on September 17, 2021, 10:50:44 AM

Binance is aggressively pushing for kyc for all it's customers. There are various lawsuit against binance exchange from different jurisdiction and this might have led to the compulsory kyc for customers. I rarely use centralized exchange these days, I trade my btc on different side chain which are very fast and cost less to trade!

You can make out transactions without touching up centralized platforms specially with p2p but not all would really be that confident on doing so and also you do still end up on touching fiat/crypto transactions
which simply means that you would really be or likely to touch up with CEX but if you do able to make yourself to make out some conversion to fiat without doing any KYC then its good.Its just understandable
on what are the things that Binance is really experiencing as of this moment.They might like for them to be a non strict exchange when it comes to KYC because crypto isnt really something that looks appealing with that
and into its users or the community itself but due to on being regulated then they would need to follow or else this would put the business on risk.

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Quote from: sujonali1819 on September 15, 2021, 11:48:21 AM

This warn has made on 2021-08-20 13:01. But today when I using binance app it was showing a notification again and again, And I force me to read it. The notice was about the changing of user Identify verification . A lot of change there. You guys always should take care about it before the deadline.

So binance.com has finally decided to start requiring Identity verification from users? this year there has been a lot of news on binance being banned from operating in a few countries. I can’t really say what the issue was with them and those countries, is it possible that it is something that has to do with the way they operate? So, I guess they are now trying to maybe fitting with the requirements of the government. Which means that they will start requiring serious KYC from now on.

Anyways, I have already verified my account on binance, and I am seeing people who are saying that they have been promised a reward once they verify their Binance.com account.

Topic: Do you already noticed about the changing of identity verification of Binance ? - page 3. (Read 493 times)