Bitcoin Forum

We are proud to announce that Binapex has completed beta testing and welcomes traders with $50 bonus! Just use our promo code 6bcc-b19e-c09b-3f1b during registration! Based in Seychelles, we strive to provide the best user experience out there.
Binapex offers:
Various trading pairs
Margin trading for Bitcoin and Ethereum
Free trading signals
Personal reduced fees for active users
Flexible Japanese candlestick charts
API

Pairs available:
BTC-USD
ETH-USD
LTC-USD
BCH-USD
BAT-USD
ETH-BTC
BCH-BTC
LTC-BTC
DASH-BTC
DOGE-BTC
QTUM-BTC
REP-BTC
BAT-BTC
LINK-BTC
GNO-BTC
XMR-BTC
MLN-BTC
BCH-ETH
LTC-ETH
DASH-ETH
QTUM-ETH
BAT-ETH
REP-ETH
LINK-ETH
GNO-ETH
MLN-ETH

Communication channels:
Website: https://binapex.com/en/ (https://binapex.com/en/)
Twitter: https://twitter.com/binapex
Facebook: https://www.facebook.com/BinapexExchange
Reddit: https://www.reddit.com/r/BINAPEX/

Security:
We at Binapex, care about our clients’ safety and take all measures to provide maximum level of security.
To keep you safe we use: multi signature procedure for deposits and withdrawals, second-factor authentication and cold storages.
The Binapex trading system has a multi-server architecture and is subject to regular auditing, which guarantees speed and reliability beyond comparison.

Questions:
Do not hesitate to contact us at support@binapex.com or just post them here!  

https://binapex.com/en/cryptocurrency_exchange/legal/aml-and-kyc-policies/

https://binapex.com/en/cryptocurrency_exchange/information/about/   ( has no information about who owns the exchange )

You guys are anonymous, but you want other people to do KYC?

Already a red flag thats why its risky to trust up new platforms specially if devs/teams are anonymous since they can ran off their users funds anytime as they like since they havent known yet.

When it comes to bonuses then it always be tied up with KYC verification before you would able to claim these bonuses.Typical stuff just like we have seen on XLM airdrops.
$50 is somewhat decent though but i wont bite it up.

Hi! Thank you for your reply! We have provided the number of registration, you can freely check it.
As for KYC, unfortunately those are  the standard requirements, we hope for your understanding.

Hey! Can i withdraw money to my bank card?

There is no assurance that you can withdraw it. You may not likely able to unless you submit documents for KYC that's the trade of it. Save yourself from troubles.

They didn't provide information about them, this must be a creepy exchange and that $50 is probably the token they have like BACIX worth $50.

As soon as we add fiat to our platform, you will be able to withdraw to your bank card.

KYC is not required at Binapex exchange. You can trade and withdraw profit received by trading using bonus funds without uploading perconal information.
All information about Binapex is provided on the website, you can easily check it.

What are the restrictions for unverified users?

Since you mentioned that anyone can withdraw without uploading personal information, it means you have the usual tier system?

What's the limit for unverified users for both deposits and withdrawals? I can't see it on the site or maybe I missed it.

They have a high limit for unverified users, it's 100BTC per month for deposits and withdrawals while for verified accounts, they have 500BTC for the same.

They also have it on ETH.

https://binapex.com/en/cryptocurrency_exchange/information/fees/

This information is wrong. As long as you impose exchange pairs that deal with fiat money (X crypto/ USD,) you must submit to identity verification procedures.
In other words, the platform does not impose restrictions on identity is wrong information.

where is the platform is located? Can you provide any legal documents?



Again, you are mistaken, many countries impose restrictions on what are known as anti-money laundering, and that have 5000 dollar limits in many countries.
100BTC is a large sum, and no country allows it to trade without identity restrictions.

Binapex crypto exchange reqires KYC only if you plan to trade on margin market. You do not have to pass KYC to withdraw or to trade on regular market.
All the documents can be sounf here: https://binapex.com/en/cryptocurrency_exchange/information/about/

You should explicitly state your AML/KYC policies. This page (https://binapex.com/en/cryptocurrency_exchange/legal/aml-and-kyc-policies/) indicates that KYC is mandatory:

If unverified accounts are allowed, you should clearly state the limits/features of each account tier like Poloniex does (https://support.poloniex.com/hc/en-us/articles/360041078913-Level-1-Account-Features). Traders who don't want to verify will be interested to see that.

Binapex says they employ a risk-based AML approach. Under what circumstances will you freeze an account and mandate KYC?


That's not necessarily true. Bitfinex operates USD markets and does not mandate KYC. BTC-e did the same for many years. Binapex appears to work with 3rd party fiat processors like PerfectMoney who implement their own KYC.


Republic of Seychelles
Company #8424785-1
https://binapex.com/uploads/Corporate_Binapex_COI.pdf

I can't locate a Seychelles corporate registry to verify, though.

We may request a trader to pass the KYC procedure in case our system detects suspicious actions from that account. You must understand that we take our security very serious, as well as safety of our clients and in such situations we do what has to be done to prevent violations of Binapex rules.

As for the company registration and location, we have provided all the documents needed.

Nice of you to reduce the fee and finally add fiat. Yet in your Twitter you said something about upcoming new interface. When do we expect that?

Our experts are working hard to present a better interface. You will see it pretty soon!

As COVID19 spreads on, many companies have shut down for quarantine or allowed their employees to work remotely. Binapex exchange team assures that the quality of service will not be influenced by the current situation and the exchange will operate normally.
In the meantime, take all the recommended safety measures and stay home!

Do you still have this $50 signup promotion?

If not then you can edit the title and removed the $50 promotion.

And if that proMotion still running is this one is widrawable or can only use as transaction/widrawal  fees  using that exchange.

The promo has already finished. Stay tuned for new upcoming promo!