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Topic: What the fuck does binance want? (Read 310 times)

o_e_l_e_o

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Quote from: BlackHatCoiner on March 12, 2022, 11:47:03 AM

BTW, it's general truth that the Bitcoin community moves like a cult, but I've seen no Bitcoiner who puts a "btc" after their full name. That's just cringe.

It's a URL, that's why. It leads to a page of something to do with ~~expensive scams~~ NFTs.

Quote from: bbc.reporter on March 12, 2022, 10:45:24 PM

KYC is okay for exchanges to remain compliant with American regulators, however, asking for 3 months of bank statements is too much, I reckon.

As long as people comply with it, it will only get worse. If every single Coinbase user said "No, we aren't giving you 3 months of bank statements, please close our accounts intead", then you can guarantee Coinbase would be in court by tomorrow to overturn this legislation. But instead people upload three months of bank statements. So next year they will ask for 6. Then 12. Then they'll ask for a complete breakdown of all your purchases. Then they'll want to see your credit card statements. Then your entire tax return. Just keep giving us more data to monetize!

Quote from: The Sceptical Chymist on March 13, 2022, 03:19:47 AM

I wouldn't think that'd be true for a business like Binance, though if they had their database hacked and those docs made their way to the darker corners of the interwebz, that could be a problem.

Yup, already happened:
https://decrypt.co/4629/darknet-hacker-provides-evidence-binance-hack-kyc-fake
https://www.binance.com/en/blog/all/update--action-response-thirdparty-vendor-kyc-matter-371631019142385664

The Sceptical Chymist

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Quote from: o_e_l_e_o on January 11, 2022, 03:46:18 AM

Quote from: The Sceptical Chymist on January 11, 2022, 02:45:32 AM

For some reason they all seem to demand pixel-perfect photos.

Need to have good quality photos for when they get sold on the dark web and used to open accounts elsewhere.

I wouldn't think that'd be true for a business like Binance, though if they had their database hacked and those docs made their way to the darker corners of the interwebz, that could be a problem. I'm just not sure why so many pics of people holding their driver's licenses and whatnot get rejected--and I've had that happen to me before on exchanges like Kraken. I couldn't make the photo any clearer, so I finally just thew up my hands in disgust. Now I wonder what happened to the pics I tried to upload.

I'm actually now watching a decent Youtube video about Roobet, KYC, and all the scammy stuff that can happen. It's from last year, but it just popped up on my home page and it's interesting. KYC is truly the enemy of everything bitcoin and crypto in general stands for.

bbc.reporter

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Quote from: o_e_l_e_o on March 12, 2022, 05:01:22 AM

That whole exchange is hilarious. Why is Gavin Andresen expecting any shred of privacy while using Coinbase? I guess if he is naive enough to think an obvious scammer is Satoshi then he's naive enough to believe Coinbase's lies about protecting your data? And then Brian Armstrong offers no explanation at all, just says "Sorry, but still give us your info!" And they are using yet another shady third party to collect this info?

I am firmly convinced Coinbase are an exchange only in the same way Meta are a social media platform. They are data harvesters, first and foremost. Everything you send them will be shared, monetized, and used against you.

KYC is okay for exchanges to remain compliant with American regulators, however, asking for 3 months of bank statements is too much, I reckon. I have mentioned this in the press subforum before, I predict in the next years people below a certain level of annual salary will not be permitted to invest in the cryptospace.

BlackHatCoiner

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Farewell, Leo

Quote from: bbc.reporter on March 10, 2022, 08:18:03 PM

[...]

Stay tuned on the next episode of the "Gavin supporting scammers" series with our special guest, Changpeng Zhao!

Quote from: o_e_l_e_o on March 12, 2022, 05:01:22 AM

And then Brian Armstrong offers no explanation at all, just says "Sorry, but still give us your info!"

What part of the ".eth" don't you understand? It implies how awful and corrupted solutions he may propose. BTW, it's general truth that the Bitcoin community moves like a cult, but I've seen no Bitcoiner who puts a "btc" after their full name. That's just cringe.

o_e_l_e_o

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That whole exchange is hilarious. Why is Gavin Andresen expecting any shred of privacy while using Coinbase? I guess if he is naive enough to think an obvious scammer is Satoshi then he's naive enough to believe Coinbase's lies about protecting your data? And then Brian Armstrong offers no explanation at all, just says "Sorry, but still give us your info!" And they are using yet another shady third party to collect this info?

I am firmly convinced Coinbase are an exchange only in the same way Meta are a social media platform. They are data harvesters, first and foremost. Everything you send them will be shared, monetized, and used against you.

bbc.reporter

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pornluver's problem with his KYC will be nothing when this new issue in Coinbase begins being published on the news hehe. I am not quite certain if this is real or are they trolling, however, this might be the beginning of something that might become normal for users of Coinbase who are living in America.

Can anyone who use Coinbase confirm this? Kraken and Binance US users might be next, I reckon.

pornluver

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Quote from: franky1 on January 10, 2022, 03:21:49 AM

Quote from: pornluver on January 09, 2022, 09:39:47 PM

. Please
re-upload valid & colorful passports and selfies in the director/UBO/Trader sections. (Please do not use portraits, photocopies, cropped, black&white or filtered images, instead use new "selfies" and "take new images of passports" as 4 corners and two pages
are visible).

I already scanned my passport. 4 corners show up.

Do not use portraits or photocopies. So what must I do? Scanned? I did.

(and selfies) 'do not use portraits'
it is asking for a real life selfie of you. your face, today.. not some photo of when you were a kid

(valid & colourful passports) 'do not use .. or photocopies'
it is asking for a image of your passport in live colour.. no picture of a picture(photocopy) no black and white previous copy.

in short.
take selfie of your face
take selfie of your face holding your passport
take selfie of passport, not zoomed in too much to not show edges(EG1) and not zoomed out to not be readable(EG2)

EG1
this

is a bad example of not fitting any of the requirements

EG2
this

is the good example of "showing 2 pages and edges"
but a bad example of quality camera as its not very clear to read that its james bond
may require high res camera if blurry and unreadable

THis is true.

The reason why I am confused is because scanned copy is basically a photo.

It seems that they want me to take photo.

Slow death

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I checked my account years ago but the procedure regarding the passport is the same, just take the passport photo and don't edit the image that will be fine, in my time the person needed to take a selfie holding the passport and then there was that scanner irritant that always missed my ears. but i got it after many tries

The Cryptovator

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I had verified my KYC with my passport and there wasn't an issue at all. It was verified in the first chance. I used a clear scam copy which was from a scanner machine. They need everything transparent copy and must should readable. So I think to make a clear and readable scam copy from the scanner machine without editing. So you would verify successfully IMO. It was long ago though, not sure about the current situation. But Binance was quite strict from the beginning as well.

ultrloa

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Quote from: pornluver on January 09, 2022, 09:39:47 PM

. Please
re-upload valid & colorful passports and selfies in the director/UBO/Trader sections. (Please do not use portraits, photocopies, cropped, black&white or filtered images, instead use new "selfies" and "take new images of passports" as 4 corners and two pages
are visible).

I already scanned my passport. 4 corners show up.

Do not use portraits or photocopies. So what must I do? Scanned? I did.

They are strict towards their verification so make sure that the you include the whole corner of your ID also make sure that the details on your ID is not blurry so that they can verify it clearly.

I also struggle with their verification but give a shot to send again until you get verified on their platform.

o_e_l_e_o

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Quote from: examplens on January 11, 2022, 06:59:04 PM

There is no guarantee that at some point FTX or even Bisq will not require KYC.

FTX, sure. It's a centralized exchange, and so regulations will catch up with them eventually and they will require KYC eventually. Better make sure you don't have any funds stuck on their exchange when they spring unannounced KYC requirements on you as many other exchanges have done, or else you can wave your funds goodbye if you don't/won't/can't complete the KYC.

Bisq, I disagree. Bisq is not a company. They have no offices and no headquarters. You don't trade via a centralized website. It is software which you download and run yourself, and you connect peer to peer to other Bisq users over Tor. Trying to force Bisq to collect KYC would be like trying to force "Bitcoin" to collect KYC. There is simply no mechanism to do so, and it is impossible to prevent anyone from continuing to use it without completing KYC.

examplens

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Quote from: dkbit98 on January 11, 2022, 02:07:46 PM

I never liked it and I think that Kucoin exchange recently reduced and change limitations for unverified account so it came down from 4btc to 1btc per one day that you can withdraw.
If I had to choose one centralized exchange to replace Bitcoin it would probably be FTX, but I would agree with you that decentralized exchanges like Bisq are the way to go for me.

There is no guarantee that at some point FTX or even Bisq will not require KYC. I even think it is inevitable for all exchanges in the near future, of course, if they want to cover most of the regions. EU for example, where conditions will be tightened as much as possible.

btw. I haven't had any problem passing KYC (not only on Binance) whenever I did it. it was with blurry pictures, but it was also clear to me that it was illegible.

dkbit98

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Quote from: pornluver on January 09, 2022, 09:39:47 PM

Do not use portraits or photocopies. So what must I do? Scanned? I did.

Nobody is forcing you to use Binance exchange and you must follow all their silly procedures if you opened account there.
I think they are trying to avoid shutdown from regulators so they flipped the switch with this crazy rules change, cooperation with chainalysis and many partnership deals.
Even if you do all what they say they can still freeze your funds and close your account at any time.
I also remember last year when they got hacked and all customer information got leaked Tongue

Tongue

Quote from: o_e_l_e_o on January 11, 2022, 03:46:18 AM

Completely agree that people should stop letting Binance pull all the shit that they do, pay their utterly ridiculous fees, scam newbies with their fake bitcoin tokens, etc., but KuCoin would not be my recommendation.

I never liked it and I think that Kucoin exchange recently reduced and change limitations for unverified account so it came down from 4btc to 1btc per one day that you can withdraw.
If I had to choose one centralized exchange to replace Bitcoin it would probably be FTX, but I would agree with you that decentralized exchanges like Bisq are the way to go for me.

o_e_l_e_o

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Quote from: pornluver on January 09, 2022, 09:39:47 PM

What the fuck does binance want?

Your data, your money, and your soul.

Quote from: The Sceptical Chymist on January 11, 2022, 02:45:32 AM

For some reason they all seem to demand pixel-perfect photos.

Need to have good quality photos for when they get sold on the dark web and used to open accounts elsewhere.

Quote from: mindrust on January 11, 2022, 03:00:57 AM

Speak with your wallet. Use something else, problem solved.

Completely agree that people should stop letting Binance pull all the shit that they do, pay their utterly ridiculous fees, scam newbies with their fake bitcoin tokens, etc., but KuCoin would not be my recommendation. Sure, you can sign up there without KYC, but their terms quite clearly state that they will freeze your account and demand KYC if there is any sign of suspicious or just unusual activity, or even just at their discretion. If you want to avoid KYC nonsense, then better to use a properly decentralized exchange which will never demand KYC at any time.

mindrust

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Quote from: pornluver on January 09, 2022, 09:39:47 PM

. Please
re-upload valid & colorful passports and selfies in the director/UBO/Trader sections. (Please do not use portraits, photocopies, cropped, black&white or filtered images, instead use new "selfies" and "take new images of passports" as 4 corners and two pages
are visible).

I already scanned my passport. 4 corners show up.

Do not use portraits or photocopies. So what must I do? Scanned? I did.

Why don't you use some other exchange? I heard Kucoin don't do that kind of crap maybe you would want to move your funds from Binance to kucoin? If Binance loses enough customers, they'll have to stop doing that shit or else they will go bankrupt. Speak with your wallet. Use something else, problem solved.

The Sceptical Chymist

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Quote from: Kakmakr on January 10, 2022, 01:04:50 AM

Binance and Coinbase are basically Banks and they have very strict KYC requirements. I personally think some of these requirements are overkill and it is easier to acquire a Bank account, than signing up to these exchanges. Roll Eyes

Roll Eyes

Pretty much, except that it would probably be a lot easier setting up a real bank account online than it is to try to upload KYC documents with a crypto exchange. For some reason they all seem to demand pixel-perfect photos. I can see the need for a picture of you and your drivers license to be clear, but I know what OP is dealing with here.

Maybe at some point way in the future, Binance and Coinbase will have regional branches sort of like traditional banks do. It's probably not likely, but it'd be convenient if there was some sort of walk-in service in major cities. Just thinking out loud.

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I can only suggest keeping trying and being patient because sometimes when we are in a rush to finish the verification, we miss something. After all, I have had those experiences before in other exchanges so I need to repeat the process. The auto face verification can also have trouble identifying your face recognitions. I agree with @Potato Chips suggestion to ask Binance to do manual verifications if you have trouble with auto verifications. Sometimes, it does works but you need to be patient. Good luck.

Potato Chips

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If basic troubleshooting doesn't work, don't stress yourself out and reach out to support instead. Not to mention, if you try multiple times in a short span of time, it could end up as a spam.

I strongly believe not everything can be captured well in today's KYC, this is why some could slip thru or may not pass thru. Some exchanges started offering manual verification where an actual person reviews your documents, you can try asking if binance has the same thing.

crwth

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Quote from: romero121 on January 10, 2022, 04:52:36 AM

Even with Mobile application it is possible to get error while uploading/verification of KYC. Within one or two attempts you'll get to know the exact requirement. In my case, KYC got unverified just because of the pic mentioning the date isn't clear. Initially I wrote with pen, later used a marker and then took a snap of me having the placard with date. Within a short time everything got verified.

That's why I did recommend it to the OP. He didn't mention anything about using a mobile application for his KYC. I do remember the times that I just needed to adjust some of my verification documents with what is notified on the app and it's going to be easy after that. So I agree with you with all the possible rectifications to be done with your application.

romero121

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Quote from: crwth on January 09, 2022, 10:39:24 PM

Are you using their application on your smartphone? Usually, that's the easiest way to get verified because of the verification thing you need to undergo if you want to have the higher-tiered accounts.

I remember that you have to have your face in the oblong-shaped thing, and you need to move around your head—something like that. Please take photos of your IDs on the app itself, not taken with the camera app on your phone. I think after that it should be done.

Even with Mobile application it is possible to get error while uploading/verification of KYC. Within one or two attempts you'll get to know the exact requirement. In my case, KYC got unverified just because of the pic mentioning the date isn't clear. Initially I wrote with pen, later used a marker and then took a snap of me having the placard with date. Within a short time everything got verified.

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