Bitcoin Forum

1) Do they let your trade without KYC? What's the requirement like for their .com? I heard you can trade €5,000 worth of BTC a day without the need to KYC? Is this still the case?

2) If so, then is it something that they say but later freeze your account with KYC demands even though you kept it under 5k and you didn't break their rules? I mean, sure it "could" happen, but is it common with them?

3) What are the requirements to do so - name, phone number, email only?

4) Can you trade as soon as you sign up (no KYC level)? How long is the signing up process? Does it require approval? Can you sell directly to them?

5) Do they need KYC to withdraw?

6) Is it safe to get referral codes from strangers and use it to sign up?

Thanks all!

Yes you can trade minus KYC so long as it doesn't involve depositing and withdrawing fiat

It isn't common. I traded on Binance for 3 years, and they never froze my account.

That's pretty much it and maybe country and address.

Signing up take a few minutes, no approval needed except email verification. You can trade as soon as you set up your account

Crypto withdrawals below a daily limit of 2 BTC don't need KYC
Fiat withdraws will need KYC

It's safe.

Since bitcoin arena has answered all question, i would like Op to aware with any kind of phising site of binance. Make sure you visit

Don't ever logged or signed up through other link except that

You have to do KYC if you trade with Binance P2P (peer-to-peer) or OTC trading but I don't see any rule on KYC with trading limit.
They will give you a pop up message for Trading requirements, in which you see "Complete KYC Verification"

P2P Binance's' rule

OTC trading rule

With non P2P trades, you don't have trading limits per day.

Binance does not require you to do KYC but if you don't, your daily withdrawal limit is 2 BTC. If you withdraw more than 2 BTC per day, they will require you to do KYC.
Read:

• Binance P2P: Tips to Protect your Bitcoins and Avoid Scams (https://www.binance.com/en/blog/421499824684900709/Binance-P2P-Tips-to-Protect-your-Bitcoins-and-Avoid-Scams)
• How to withdraw from Binance (https://www.binance.com/en/support/articles/115003670492-How-to-Withdraw-from-Binance)

They have rules to suspend or cancel your account ^[1] but it is different than KYC requirement for > 2BTC withdrawal per day. If you don't do KYC, you can wait for next day to continue your withdrawal.

[1] https://www.binance.com/en/terms

When you register your account, you can use your email or your phone number.

Create your account is easy, and fast and you can go to trade very quickly after you finish your registration.

Binance don't buy any crypto from users (but I could be wrong).

Depends, see above.

I don't see any risk. If you use a referral code from someone else, that person (that account) will receive passive income from your finished trade. That's all.

Don't forget to double-check from https://www.binance.com/en/support/faq, since their regulations might change without notice. It might be a good idea to read the full TOS or FAQs for any service you wanted to use in the future even if it takes some time to read.

Binance have limited withdraw above 2 bitcoin in daily day if you not pass your KYC, you available not submit KYC on binance exchange just added 2fa so you available trade and withdraw on Binance, there not have any specification rule have to pass KYC for withdraw and trade on Binance, but if you wanna increase your limited withdraw you should pass KYC and available with 100 btc every day.

Thanks for the info guys!

OK, let's see if I got this right...

1) I can deposit as much BTC as I want and trade as much as I want and withdraw as much BTC as I want per-whatever time period with a non-KYCed account, correct?

2) I can buy and sell without KYC whatever stablecoins/cryptocurrency Binance offers using whatever cryptocurrency I have, correct?

3) It's (relatively) safe to transfer whatever amount of my BTC to my un-KYCed account, as I would be able to send the original amount plus whatever I earned in trading in Binance to any other wallet of my choosing without having to do KYC, correct?

4) What I would be able to send to another wallet without having to do KYC includes stablecoins that I bought in Binance, correct?

5) What's correct from the above should be correct under normal circumstances, correct?

It's already 2021, its been known to everyone already that all centralize exchanges like finance will ask KYC, they may allow you to trade and deposit coins but a time comes you wanna withdraw, that's where you will need to submit KYC documents.

If you are not willing to share your data, it's best to just stick to the dex or swapping platform, its got a high transaction fee but you are safe. It's fair.

Just trying to understand how they work so I am informed. Didn't say I wasn't willing to share my data.

Overall answer: you can use Binance without KYC yet it is preferable to do KYC once you would have a huge balance in your wallet. They would only require important IDs such as Driver's License and some selfies for a simple KYC verification. It would all depend on how much you can risk your data and money onto their system. I've been using it without KYC and I still encounter no problem so far. But again, if you are wealthy enough and would transfer mostly with huge funds, betterr to do KYC. And yes, Referral codes do gives those referrers a little bonus from each and every trade you make.

Out of curiosity, what do you consider huge funds?

You don't need a specific answer to that. As you are to do trades or withdrawals within only just your basic account's limit, you don't have to worry about KYC.

But if you want high tier limits, KYC is a must and necessary.

Binance will never ask you KYC if you are just depositing and withdraw a small amount.

No can also see what is their limitation by clicking their limits and verification where you need to pass KYC. You don't need to worry about sending them your personal details since we know that they reputable exchanges and for sure, other traders are doing the same.

Some of their requirements will just pop-up or it sends via email. You need to follow them otherwise you can't perform any transactions.

2 BTC per day for non-verified accounts. Convert it to your currency.

Probably the best limit for non-verified accounts at any trading platforms.


Not with the amount involved but freezing accounts associated with the fraud-related and unusual activity or alarms.

Binance will never freeze an account without a valid reason and your balance has nothing to do with this, high or small amount.

Don't trust any strangers whom you didn't even know personally, because they're certainly scammer in the first place. Binance didn't need kyc for withdrawal, all you need is to transact with them independently and be sure you had enough funds to shoulder the transaction fee.
Phone number isn't that mandatory, and you only needed an email for confirmation along with the registration.

yes, better sign up directly to their  binance site  (https://accounts.binance.com/en/register). you dont know if there are hidden links from those strangers referral links. important questions are already answered. but one thing i can attest is that, throughout the years that am using binance, never had any prob encountered from this exchange. haven't gone thru the kyc procedure as am trading below their daily max withdrawal limit.

Most of the questions answer can be found in their https://www.binance.com/en/terms

Maybe try to read it first before asking some question, that would help you not skip the most important information necessary to know as a trader.

bookmark the site, this is only the legit site https://www.binance.com/en

If you are not satisfied with the answers about Binance exchange here, you can discuss with: Binance_Angels (https://bitcointalk.org/index.php?action=profile;u=1531085), and you can follow this topic: Binance Exchange - Let us grow together. Please provide us your feedback. (https://bitcointalk.org/index.php?topic=2656125.0), you are free to ask what you want to ask.

All your doubts about the Binance exchange will be answered there and one more thing, if you want to know about the BNB coin, you can also have a discussion here: Binance Coin - Token of Binance Exchange (https://bitcointalk.org/index.php?topic=5154275.0), I hope those two pieces of information will add to your knowledge of the development of the Binance exchange.

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When trading in Binance, you should always be prepared for the fact that the exchange, according to one well-known algorithm for it, may consider your actions suspicious and require verification. And until you pass verification, and in some cases, confirmation of the address of residence, you will not be able to withdraw coins from the exchange.

Hi friend. All the answers to your questions can be found at this link https://cryptogeek.info/en/exchanges/binance, here is a comprehensive overview of this cryptocurrency exchange.

KYC in binance is the simplest thing you could ever find in the entire KYC world. I sent them just 3 images and it was done under 5 minutes, just front side of my ID, back side of my ID and a picture of me holding my ID with a paper saying it is me, that's it and that was the end of it, took me under 5 minutes to take the pictures and send it and get accepted. If you are not fine with giving your ID to an exchange you are going to be a bit upset about it, but that's all they ask you to do, just ID and that's it, they require no phone number or anything, they only want your ID and that's it.

So long story short we are in a situation where we do not really have to worry about KYC anymore since it is everywhere, there is no way of avoiding KYC in any place, and the best trading exchange in the entire world made KYC with just three images simple so you should feel comfortable with it.

KYC problems seem to be done by any exchange nowadays. For small exchanges it has already implemented this and now for binance exchanges that are large and have high trading volumes, of course, it requires KYC and it is an obligation.

do you know where is PNL page? I can't find it anymore since a while...

LE: and now it's back...

Anyone here that is a US Citizen using binance without an issue and never did verification and also overseas?  If you could log in with no issue and trade, is it safe to assume its fine to continue to use binance.com?


I heard on twitter lot of us citizens in the US use a vpn to have access to binance.com.  So would it be safe to do that?  Well my assumption is if you are overseas and US citizen and log in with a non us ip address since you are overseas, that probably would be fine?


But what if they ask you for KYC then?  Has anyone been asked for KYC from binance ever?  Their two btc withdraw limit is obviously huge and works for most people.

Most exchange with easy KYC is Binance because you don't need to write some thing like other exchange and only upload your ID card and take your face, just few minutes if your image clear will approved soon. I have try look very easy depend with other exchange, in local exchange take one day for KYC process but Binance can approved your document just few minutes, look simple and very easy I think but if you got trouble ask them on online chat.

Customer information from Binance was leaked back in 2019 so it's better to avoid sending them yours if you can.

You can use Binance without any issues for daily withdrawal up to 2 Bitcoin, but you should know that they sometimes have issue and website is not available so safest way to use Binance exchange is if you download their official app for desktop or mobile to reduce crashing that happens on their website version.
This is centralized exchange so nothing is guaranteed and they can ask you for verification if they want, but I know many people who use Binance and never had any issues with that for years.

I think that many exchanges today are trying to stick to some red-flag indicators that exchanges might consider transactions to be suspicious.
Here is a list of FATF patterns that can signal fraudulent activity.

https://www.fatf-gafi.org/media/fatf/documents/recommendations/Virtual-Assets-Red-Flag-Indicators.pdf

That could be true for more reputable exchanges like Binance here and they might need to require their users to complete KYC to make sure there's no wrongdoings.

But unfortunately some exchanges such as HitBTC and Bittrex are using that as an excuse to freeze their users account because they claim they had detected some suspicious activity while as a matter of fact they just need some extra funds on the side, so what they do is they just start randomly asking their users for KYC when their balance is high enough that is worth the effort for them, and if the user accepts and do KYC verification they will just unfreeze the account since now they have some KYC information to sell on black market(in some cases they might even go further and ask for documents including source of funds after passing KYC), but if the users refuse to do so, they get to have the whole balance of their account for themselves.

At the end of the day if you registered for an exchange and accepted their TOS and then while using that exchange they suddenly asked you to complete KYC, I guess more than anything else it's your fault.

These are very heavy accusations. Do you happen to have indisputable evidences which support this?

I used to be a fan of Bittrex during its heyday. I used to trade on HitBTC as well during the good old days of ICO. There were times when my accounts' balance on both exchanges would reach a significant amount, but never had I encountered something negative which I would consider very serious from both platforms. While I experienced what others have gone through with HitBTC, that is, a sudden KYC requirement, it was only during the time when I already detached myself from them and only left a very small amount. But even with that, I got quickly approved and allowed to withdraw my funds.

Make no mistake, I am also very much aware of a lot of complaints against both exchanges, especially with HitBTC.

For sure those are only observations if he dont have actually had the experience on using those exchange or simply do see those issues that floating around and tell up some stories about
KYC selling in some markets or do make out some intentional shady asking out KYC for the purpose of locking out users account.

Well, there are no evidences for this one but if you do base up on how things works and what are the possibilities that could happen then we can really presume that
it might be happening behind the curtains.

So does simply mean that its better to stick out with the best ones to avoid some headaches.

No, if there was any indisputable evidence of them doing that, then they wouldn't exist now to be able to keep working even after years of repeating the same bad practices over and over again and would be forced to close down when caught.

What I wrote on my previous post was more of an assumption based on how much demand there is for KYC information around the world and the fact how easy it would be for these exchanges to sell those information for some money, I believe that is exactly how some shitty projects "free" airdrops that later ask the participants to complete KYC make money, KYC information farming is a real thing and even if those mentioned exchanges don't do that, then some others definitely do.

To sum it up I think it's fair expecting to have access to something close to KYC information of team members on these exchanges/platforms if you want to give them your information at the very least, currently there's almost no transparency on these exchanges side besides some half completed linkedin profiles that could be easily faked as well.