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Hey guys! I got a quick question. I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day. Is this true with Binance.us?

Thanks in advance!

Not sure about binance US but I've heard there's a policy of new accounts needing kyc before you can trade with them now?

The terms of service has changed, any new Binance user will need to be verified (intermidiate verification) that will require also your ID verification. Old users are still given till Oct 19 while Binance is indicating any account with just basic verification can be restricted at any time while the old user will not be able to trade or do any other thing than to withdraw, so you have to be verified.

Good on before but not on this upcoming update.
They would requiring all users for Intermediate Verification.Therefore, there would be no already that limit of 0.06/day.
https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca

For new users then it would be effective immediately but for old users they do still have 20 days from now as of writing for them to comply.

It seems this is no longer true, binance was probably the best exchange if you were a trader with a low amount of money and wanted to retain some privacy, but it seems they are trying very hard to comply now with KYC policies so you are better off taking your business to another exchange if you still want to retain some privacy, it is a shame as this was in my mind the only reason to use this centralized exchange and now that it is gone I suppose it will lose its popularity among the members of the forum.

For privacy.

KYC is dangerous than people think, exchange data breach makes it worse.

^ For Binance.com here is the thread discussion about their KYC compliance.
https://bitcointalk.org/index.php?topic=5355551.0.
I think if anyone is not sure just simply go to their TOS and read it carefully, it has now changed because the new KYC was implemented, you cant do trading and withdrawal if there is no basic KYC for the level one account, probably it needs at least level one.

Yes exactly!
I guess everybody wants privacy when we engage in cryptocurrency, but the anonymity feature has been gradually lost due to regulations.
And though an exchange is trusted and seems safe but still it is susceptible to any kinds of harm from attackers who's intention is to break through and steal the clients data.

I may be against the KYC, but I don't have a choice but to comply because I'm using their platform. Worst thing now is, it is mandatory already.

Of course, you need to first under KYC verifications before using their exchange. Do you think SEC and FIN CEN would allow Binance.us to operate without identifying all their users?Nop!
Just read through their terms of service - https://www.binance.us/en/terms-of-use

as already posted above by some users, it is already mandatory to all users in binance. though they are giving enough time for old users to comply. but it means, they still need to verify their identity before fully using the binance services again. but if you don't want to comply, they are giving the users to withdraw their funds up until oct 19. so hopefully, those users will read this announcement and not be surprised when its time for them to do trading or withdrawal after this date (no more 0.06BTC daily withdrawal for unverified). you will also receive their email regarding this change so you should think if it is worth to undergo kyc or not.

Yes! you need to complete requirement of KYC before you trade and withdraw funds from Binance ( Please click below given link to know further details in this regard)  and I would suggest you to go ahead it is a reliable Exchange and they provide huge opportunities to make profit in various activities on their platform.

https://www.techvisibility.com/2021/08/20/binance-updates-verification-rules-what-you-should-know/

Seriously binance is now getting very hard to use now before kyc is not really mandatory for every binance members but there is a limit which you can withdraw in a day but now before you can trade any coin you will have to verify your kyc first, which I don't really agree with kyc because you are definitely revealing your identity for people.

I think they've got a different policy with binance.us.

I've looked at their policy and they're saying a 'successful' registration is when you included the KYC part. That's why the .us is requiring kyc for its customers.

Finance is a centralized exchange to begin with, which means at some point Binance will have to make KYC a must for all their users cause it was a centralized exchange right from the beginning and that's the reason why they have to obey the rules and regulations of the authority.

If you value your privacy make use of the p2p exchange.

I haven't been using their exchange for a while now and it surprised me to read this news on Binance that they are making the KYC as mandatory. As the above said, I still have some 20 days to think whether to submit to their KYC policy or might as well change another exchange. But this decentralization to any exchanges are slowly disappearing I don't know if there will be any exchanges left without requiring KYC to their customers. The government is really pushing it to tag people everywhere.

It seems that Binance .com and .us have different policies about KYC. I couldn't find that you can trade on Binance.us with a limit 0.06BTC even on their announcement or blog they didn't mention it.

I think you heard it from another exchange, not on Binance?

I suggest if you don't want to submit a KYC process go to another exchange like Okex they still not asking for a KYC with a 10BTC limit daily.

You might wanna read this thread (https://bitcointalk.org/index.php?topic=5360151.0) for more information about what you are asking.  Binance has the habit of changing terms at any moment, you'd be updated when you read your emails every time.

I also received an email about updating my KYC information in them. Updated mine anyway even when I don't trade these days because of the market. Binance US may have different terms this time.

Binance is smart and they tried to comply with the US. regulation years ago around the trade war between the US. and China. The latest upgrade on KYC of Binance.com is because of massive attacks on Binance in multiple nations.

It is exactly about Binance. Previously if you don't pass KYC, you are allowed to withdraw up to 2 BTC daily. Now, the limit is 0.06 BTC daily.

• Important Changes About Binance Identity Verification (https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca)
• Daily withdrawal limits will be adjusted to 0.06 BTC for accounts which have completed only Basic Account Verification (https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70)

How about the full implementation of the new TOS about KYC, people that just want to register will have to verify before they can make use of Binance while old users are giving till Oct 19th in a way Binance is pressurizing that users account can be restricted anytime before Oct 19, while restricted accounts will only be able to only withdraw.

It's not, you don't have to fully verify your account, just have the email and phone number confirmed and you're already good to go since the daily limit for withdrawals which is what many look for is around 2 bitcoins.

I think there new rules is you have to be fully verified before you can trade but am not really sure because it has been long I did my verification but I think verification is now mandatory on binance.

No, you need to undergo KYC before you can do anything else in binance.US


Binance.com is also out of the question as explained by users above. But if you're a US person, you shouldn't be using an exchange that restricts US persons and has a hidden KYC--- this means they can ask you to verify your account at any time.

If you are not willing to revealing your identity for third party than centralized exchanges is not for you. But this rules of binance they will lost customers to requiring kyc before trading in binance. Their existing users have got more than 1 month to fulfill binance intermediate kyc. 

A P2P exchange cannot replace trading on Binance. The same applies to decentralized exchanges where we see very large commissions on the Ethereum network. You can use such networks as Matic, Solana, BSC, where the commissions are acceptable, but here we will face the fact that the number of available pairs is too small. I don't see an equivalent replacement for centralized exchanges yet.

In Binance you have to pass the KYC before you use their P2P platform so technically you are also exposed here and you are not anonymous because of this. Binance are requiring a lvl1 KYC now as far as I know, and if you think its not good then look for other option, Kucoin is still not requiring lvl1 kyc, this could be your next best option.

Yes, unverified account in kucoin has still daily withdrawal limit of 5 btc, so maybe, take advantage of this opportunity before they start requiring their traders to undergo this obligatory KYC also. Some binance traders will look for other options especially those who don't want to submit their details. I was ok when Binance reduced the daily withdrawal limit to 0.06 btc for unverified as I am only small trader but when they totally implement full kyc for all users, then, I guess some traders will really look for other exchanges.

That is probably not only in the US alone. They are making this in all places, I guess.

Maybe they are strict on complying with KYC this time as I receive an email in the past days that I need to complete my KYC in order to make withdrawals, but the deposit is still open. I'd just to wonder honestly why they should have to ask it even we just make a small amount of withdrawals, that probably because of the government policy or they just want to give safety on our account.

On KuCoin, as well as on Binance, for those who have not passed verification, there are a number of restrictions for the use of their services. These restrictions are not limited only to the withdrawal limit, but there is also a ban on participation in launchpads and margin trading.

Try to read people's replies from the beginning, you can see this link

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

Existing user, those still not complete full kyc verification now their daily withdrawal limit is 0.06 BTC that was 2 BTC on the past.
For New user, need KYC verification and without any verification they can't access full feature of Binance exchange, and for Old user, those used Binance exchange without kyc verification, now need kyc for using Binance exchange otherwise they can't access all feature, that's clear that all user's need verified account.         

After over 2 years i had to left binance : not for KYC (i done it due i deposited and withdrawal FIAT) but because it no longer to offer future trading for my country  :'(

Done this KYC thing and I say it was that smooth as long as you provide the needed requirements and if the resolution of your camera is that of good quality, it wouldn't be a hassle. Been using Binance mainly for spot and minimal futures trading and I think it's an obligation on my part to do this, not that I am maximizing that limit but for future preference as well if it gets stricter again.

That's a sad thing for you mate, but need not to worry since Binance isn't the best in terms of futures trading, personal experience. There's Bybit, FTX and much more for you to discover.

Well, that si happens that Binance urging users to get fully verified as to their intention. But I'm not denying that I wasn't fully verified and got an email regarding this. KYC is somewhat most people are worried about but Binance is a legit exchange with a high reputation, I think I have not to do against this, I have to comply for sure.

This has come as no surprise at all, maybe some who got serious dealing with their privacy might be an issue but as this was become mandatory, that they need to provide or to stop using their services instead.

they already informed each users to have KYC in order to enjoy the full feature within the platform so probably that's the new policy of binance, in fact there are some complaints because they don't update their KYC during the said date and you know their accounts turn into withdrawal only, so that's what it's wherein no other option, if you really want to use their service just follow their rules..

if previously you didn't need a kyc but there was a withdrawal limit for one day. but if you need kyc, I don't think it's a problem, especially since binance is the most trusted exchange today, so we can freely take advantage of its features. Moreover, there are also many exchanges besides Binance that require Kyc

Before now,  it was true you don't need kyc to trade two bitcoin a day for withdrawal.  However,  binance have been under the pressure lately to kyc it's users so there could be proper documentation to protect against money laundering and other related crimes.  What that means for users is that you must kyc no matter amount of bitcoin that you trade.  In my opinion,  kyc on binance is very simple and straight straight forward!

Binance has been made mandatory for all the traders and you wouldn't even see Wallet Address deposit like it use to be in the past, to trade you must undergo an intermediate due to the new regulation.

Binance has to comply to survive if not they would loose every customer they work for so far from 2018 and it's as if all countries were doing it on purpose by sending Binance away from their space, they had to bend the rule of decentralization with minimum withdrawal of 2 btc to intermediate kyc, don't blame them but the country who were kin on anti money laundering scheme.

The days of decentralization is gone, exchanges are regulated so they should abide by the rules for them to continue operating, even their so-called DEX is not fully decentralized at all, so what could we expect on their centralized exchange, of course, it should not be different from the others.

The popularity of crypto is unstoppable, so the government's job is to tighten its regulation regarding crypto so they would not be use for money laundering and since everyone exchanges their bitcoin to fiat, then obviously regulators will target exchanges to be more compliant.

This is one of the reason why Binance is already asking for a basic information, KYC is a thing now and regulations are getting strict with Binance which can affect their system if they didn’t follow that so they have no choice but to implement this one now. Binance US for sure they are also asking for a basic KYC, if you’re good with that you can easily fill it and enjoy the Binance services.

They wont really be having any choice but to comply and follow on whats been mandated or else they would really be facing real issues and they dont like that which means they dont have any choice.

As a user neither old or new one then you would really be need to verify for you to make use of all of features and services but if you dont like kyc then you could choose up another exchange.

Its up to your own choice and Binance is just doing on whats right and as a crypto enthusiast then theres nothing we can do.

They are not asking to verify your account for US customers but for everyone i believe. I was trading with them from the start and my monthly volume i usually would adjust within their limits to avoid their KYC but two days back they asked me to verify the account if i want to continue trading or asked me to withdraw the coins, basically i was asked to verify my account to continue trading or move out.

This is very sad because I personally use this exchange for very long time and never have any issue in any deposit, trading or withdraw, but suddenly they send an email please verify your account otherwise your account could be restricted I never take this seriously because I was feeling may be this is just for pursuing, but they will never do anything.

But now they disable my deposits and I can't do any trading just able to withdraw my funds if I don't like this KYC, after reading many articles and other updates now realizing they are right in this case because now many countries insisting for this otherwise they have to shut down their all business.
 
So, now we have to live with this because we have no good choices without this KYC, if we want to live in some better and secure environment then we need to clear this also.

I am one of the regular trader in Binance dude, I could say that before yes, you are not oblige to submit KYC, until your not reaching the limit amount of your withdrawal over this platform. But, recently, they've changed were all traders are oblige to submit some of the requirements were binance need it to any user to verify if it is really you.

I also don't like what happened although I am one of the guys who did KYC years ago because of an issue regarding my 2FA. They won't let me through if I won't submit any information and my account will just be forfeited. All we could do is to find a new exchange that provide the same service as Binance before the mandated KYC and of course trust rating should be part of it.
I think Kucoin still offers a non-KYC trade, deposits and withdrawals. We are back to research if we don't agree with them. Perhaps a new exchange will come out again to take the top rank.

From the previous time with binance, they are allowing their non-verified users to make a deposit and withdraw just the use of the basic verification without having ID.


They only allowed now the withdrawal for the no verified users so it's looks like mandatory to make a following the KYC verification of their platform.

Privacy is an important part of our lives and we have a right to it no matter how much the government, private business like Facebook or even our peers pressure us to give it up, retaining a high level of privacy is necessary in this day and age precisely because governments and private companies are interested in using every single bit of information about you to try monetize you or to keep you monitored.

In order to trade for a new account, at least intermediate verification is required. And the old unverified account can only withdraw their coins from Binance. However, intermediate verification is required to trade for old account.

I'm an old user and I received a notice of verification request last time which I have complied with since that's their requirement. However, I don't doubt submitting my personal details to them since they have been trusted for years. They're providing a good service so I'm sure that they're also requiring us to comply with their KYC for our own protection as well.

I got the same mail, but I didn't verify myself and I still trade! When it comes to the point I need to verify in order to trade or stake I will probably move to some other exchange... Binance and all features there are great, but I will support the places that are not asking for KYC!
Binance is definitely great, but as it looks like they are going to have a mandatory KYC in the future, at least it's what I think will happen, it's just a question of time. But luckily there are other places that are good for us amateurs! :)

That’s very scary answer if you know nothing about the binance. Well binance is huge company now and they have set up different rules and regulations as per the country they are operating in.

Binance knows their way into diffent countries and undertaking all the revaluations in accordance with those government. For example, just now I came to know that Binance is going out of the market from Singapore considering that Singapore government is not in favour of crypto currency. On the contrary they are very very strong in the country like India or some Europe region where the restrictions are somewhat in accordance with the government regulations. So binance can be declared as multi national exchanger with different rules and revaluations in terms of KYC. Better get in touch with the respective binance customer support.

I would say that there are swaps now that you do not require to give any KYC at all if only thing you want to do is trading. Yes the depositing part and withdrawing part still is a big challenge, finding a place without KYC is hard and I have my KYC both in binance and also in 3 of my local exchanges (moved to better ones each time) and that is why I can't say that I am "against" KYC while having my KYC in 4 different places.

However I did that because I was forced to, they requested it before I can do any withdrawal and because of that I gave them my information, I rather not do that if I had the chance but I didn't have that option. So, which means I am fine with KYC when I am forced to when it is from an exchange (still don't do it for casinos) but I also believe that if it wasn't asked at all that would have been even better.

As far as new accounts go, you definitely need to hand in your KYC documents if you want to trade and as far as old accounts are concerned,  you currently are free to trade and withdraw with a daily limit of 0.06 BTC. Not sure about deposit limits though.... I think that will change after October 10th. Everyone will be forced to KYC.

He was wrong, without KYC available to trade and can withdraw just have limit under 2 btc can withdraw, why he gave fake news about binance need to KYC, I use for long time without KYC can trade and sell coin there, withdraw limit under 2 btc every day but if you pass KYC with upload document and take selfie you can increase withdraw limit above 100 btc on every day.

I think you can trade without KYC but I think they also have new terms and condition on where you will need to do KYC before you can withdraw your funds out their website but depositing and trading doesn't require your to pass KYC so I think you can trade without it but still I recommend you should pass KYC not just because it is required but for the safety of your account.

Yes, the recent crack down on Binance by local governments has really been felt by many users. Decentralized trading (on these large exchanges) is far from what before used to be the norm.

Today, you need to KYC directly to even open an account unlike before where users had the choice. Unfortunately, it is a slow-balling change that I think will become more and more apparent day by day.

I might be wrong and binance may have not yet set into motion all the regulations that they announced. I was just reporting what Binance announced to their userbase. Just because they haven't yet set things into motion doesn't mean things will stay as they are... ::)

It is possible to trade without KYC before the announcement.

But now, everyone has to submit their KYC for you to keep trading there. If you don't then you're only allowed to withdraw your funds.

That's their new policy.

Yes, this is a new regulation on Binance. Moreover, if we are new to registration, we must do and verify the KYC process. If we are old members, we also need to verify KYC because if not, we can only do withdraw.
It is new for Binance and many people don't agree with this. But rule must be obeyed and we cannot doa anything if we want to still use Binance services.
See the official Binance announcement.

If you dont like the new policy or towards KYC then you could just simply leave or avoid as simple as that.There are lots of whines and complaints about such changes without even realizing or thinking that we
would really be heading on this situation sooner or later because government isnt really that blind and take a look on how big Binance on the current state.They are centralized and its just normal that they would
need to comply or follow up orders that been mandated if they would like to continue their business and no doubt that users would be mainly affected but well we do have our own choice to make.

We make  binance account earlier 2017 when there is no need of kyc. 2BTC of amount was withdrawbale but for more then this you need kyc. Now at present time binance new rules for everyone who is new or old customer must complete kyc. I think this is good rule where money involved and in trading exist. So everyone should follow the rules to make trading easier.

I do not trade at Binance but this is not FUD or fake news, binance is changing their policies and it will force in the future for traders to go through KYC, what you are stating is the way things were and traders were really happy with that arrangement, however binance now wants to comply more closely with what the governments want and for that they need to force KYC on their customers, I do not know when that will happen as it does not affect me directly but it is coming so be careful.

I think this decision wasn't made by them. It is because they are regulated and they need to implement this to have pushed their regulation.
In order to follow rules and regulations and continue your business license, you should follow those legalization protocols that should be effectively be implemented and it might this will be the reason why Binance had to reduce the number of traders there because this, a lot of traders transfer into other exchange.

Usually, a new exchange that's trying to gain the trust of people will give all the favor.

They won't be allowing KYC and it's normal when you see that for starting exchanges but as they grow, they've been stomped by government regulations and they have to adjust as well.

New rule from Binance need to pass KYC if want to trade there and before we can trade and withdraw under 2 btc every day without pass KYC, maybe the KYC system to protect from banned country not allowed using cryptocurrency like China, better this way because China every time make bad news about bitcoin, now Binance not allowed for China member using Binance exchange.

It has been a long time since I last used binance.com exchange, because I switched to making use of peer to peer exchange. But, when I was making use of the Binance.com exchange what you said is right about them: for you to trade on their platform you have to submit some information about yourself(that’s KYC) before you can start reading or else your trading will be limited to an extent.

But, I saw a news as of recent that that is no longer how it functions now, that for a new users you have to submit full KYC, which is every information about yourself, before you can start trading with them, and the news also said that they will as well be asking old users to submit their full KYC before they can continue their trade on the platform.

Just new update about last week with new rule all member should pass KYC on binance, before not any rule for KYC but give only under 2 BTC for withdrawing in daily day. Now they make new regulation for all member should KYC if want trade but still available withdrawing only without pass KYC. I have KYC my account about last year because I want keep safety for trading or withdrawing with higher amount in daily day.

As far as I know, aren't customers from the US banned from using Binance!

Previously, all Binance users, even old ones, were not required to do KYC but a few months ago they changed the policy and required all customers to do KYC at least level 1.

Please don't advertise uncertain services here.

But the questions here is about Binance KYC specifically in US, so this is quiet inappropriate.
Anyway, KYC in Binance seems already a mandatory this change started since they’ve got a lot of government pressure across many countries so Binance US will surely ask for it, to confirm read their terms and conditions or better ask the Binance team regarding your concern.

Yeah as explained above, you have to verify the account for having full trading access on Binance. The new rules are applied to old unverified accounts too, looks like the regulation will cover the same rules on other alternative exchanges too. Otherwise, you can use Bybit or other alternative exchanges for trading. Checking crypto news is necessary for this reason before depositing to newly created Binance account, you will be asked to pass KYC and it can cause more trouble if this is not your first account on Binance exchange.

There are levels of verification in Binance, the verified and verified plus. I believe what you are referring for full kyc is the verified plus. But even with verified level, you can already enjoy most of binance services, and trading is already included. With verified level, you only need to submit one valid government ID and of course the face recognition step. I haven't done the verified plus but it will need your proof of address to achieve this level.

Indeed, over 0.06 was only their minimum withdrawal amount for unverified traders. That made me decide to do verification in order for to become confident with trading much higher amount. KYC isn't unsafe, since binance already told us that our personal information will be kept and remain confidential from anybody else.

Is bybit a good exchange too? I've seen them in some advertisements. For those that don't like to verify their accounts, you have no option people.
If you don't like the policy of Binance, you'll withdraw and don't comeback into their exchange because no other feature you can access but if you're okay with this new policy they have, you need to submit.

Now that Binance allows P2P trading for Venezuela, the KYC requirement goes far beyond normal, a friend who took a ceunta, the demands were much higher, so much so that it required them to have a smartphone to do the verification with code QR and apart is very cumbersome because the photos of the passport and of the person have to be of very good quality, sometimes if you do not have a good team you can not do the verification, my thought is that they will be much more demanding with KYC, I don't know to what extent this is a positive thing.

No heard, just go to support centre of Binance and ask there. Here many men may say many things or advice also but what is actual that will say from support center. I know Binance need kyc so that trading is easy and make secure also wealth. Be a practical and be a gainer.

No need for KYC you can easily trade with Binance I think you can also deposit and withdraw without KYC but unlike before the withdrawal limit is not limited but still you can trade and withdraw without KYC unlike other exchange that will hold your money unless you send KYC and you will be forced to submit KYC.

I think trading on Binance does not really need a kyc which was before. Recently, Binance had made kyc verification necessary for any forms of trading whether spot or future trading. If you intend to trade on Binance, then prepare to do your kyc verification or else, you might be stock at one corner until you do your kyc. You can make deposit and withdrawal but when it comes to trading, kyc is necessary.

Afaik, there's no need to their KYC, you can buy and sell in their spot market even if you're only verified with email and phone number, I don't know about going full verification though but I am doing fine with being uverified.

I think at the moment you only need to verify yourself through taking a picture while your are in used for the platform.
But no need to submit any documents or it could be depend as well to you if you do like to submit your passport
or drivers license. Maybe for some other exchange they require it for sure. Where they will hold your assets while
your not submitting it completely something like that.

pretty annoying to see binance doing this to us.

they might let us to access some features there but for full feature access such as doing p2p trade in the platform you will require to submit kyc otherwise binance will limit access to some of their main feature which is withdrawal wont be allowed. annoying. chinese exchange as well shutting down.. but guess what.. the market responded it in weird way, the coins pumped up to the sky... should we worry about this and consider the current bullish situation as a fake one? well...

I bought some coins from them a while back and withdrew them and then they started asking for KYC.

After which I stopped going there as I don't want to upload my documents and selfie because I am sure they're going to sell it and call it a theft.

So, in my experience, Binance does asks for KYC. :-\

Binance is facing regulatory compliance in many jurisdiction accross Europe,  America and UK! This has forced Binance to insist on basic verification of which it has been changed to intermediate verification. If you intend to trade on binance,  you must be prepared to kyc otherwise,  you will not be able to deposit let alone trade!

Maybe it was but I believe they have the purpose of asking to complete the KYC and it was to add security features in all individuals who use their platform. I know we don't want that to happen nor to comply with it but if we are often using Binance exchange will have no choice but to follow their rules. Well, I don't see any problem with that since we know that Binance is a reputed exchanger and no worries that our personal identities will be used to illegal activities.

Before in Binance many big trades, deposits big amount and withdraw  could be done without kyc. But they have been making new laws for quite some days now you must have to pass KYC for withdrawal big amount  crypto and fiat

If you do not use additional services provided by Binance, then you can easily switch to another exchange, where verification is not mandatory. I have already passed KYC on the exchange for a long time, since I needed to withdraw cryptocurrency to the card, as well as participate in launchpads and launchpools.

It is now mandatory to submit kyc in Binance. If Kyc is not done, you will not be able to trade in binance. Only you can withdraw your crypto. For trading you have to pass at least Intermediate verification.

On an average you a person is very good to go for 0.06 btc per day. There is no way normal person will trade more than that money so we just need to be calm down handle the situation appropriately. I mean if you feel that you gonna end up in situation where you will need to withdraw more than 0.06 btc then boom, you will have to do full KYC. I got so many notifications everyday regarding this, but I have just done the basic KYC and never looked back to binance after that. I have good amount of USDT and RVN on the binance but I never got the feeling that I should be confirming my full KYC because I don’t trade that much.  ;D
So just relax and do it only if you think you gonna need it ahead.

I think last months available for trading and withdrawing in binance with limit under 2 btc every day but now you need to pass KYC for trading, but still ability to withdraw coin under 2 btc price without KYC. Maybe just few exchange now without KYC and can trade or withdraw like Hotbit, Kucoin and Dex exchange market but less safety because just connect with trust wallet or using metamask.

If you are not exceeding to that limit you are good to go and continue using binance for just having the basic, it depends to each case as there are people who deal with trading that in need of much higher limits, those traders don't have any other option if they need to use this platform, otherwise, they need to switch to other exchange that will not require them to pass KYC.

Binance needs to comply with the government rules. They are being subjected so like us they also don't have any other option but to require every trader who uses the service to continue good relations with the government and kept their permits to operate.

Binance is a good site for transactions and we like to be hassle free and fast as we still adhere strictly to all the security protocols of binance exchange here our trading desk respects privacy so kyc is not required each user and each block trade is unique for the transaction, can trade as they wish. Binance has sufficient investment knowledge and experience and the ability to bear the risks associated with P2P transactions and you agree to bear all the risks arising out of being involved in P2P transactions individually.

You need KYC right now if begin trading with Binance, new rule update last month where all member can't trade on Binance without KYC, but easy and take faster time for KYC processing. you only need few minutes with KYC but should upload with good and quality picture of your document and take good position when take your face picture. But still can withdraw if not pass KYC because only trading need and have to KYC for withdraw still able but less 2 btc every day.

Binance has changed their rules, they now have made it mandatory for everyone to complete their respective KYCs otherwise the accounts of the people will be restricted.  Earlier this restriction applied only on the withdrawals but now they are even restricting trading in a non kyc account which means every account will have to complete their kyc. They are citing regulatory concerns for this and I think somehow they are justified too because the number of governments filing cases against Binance regarding money laundering is increasing day by day they need to keep themselves safe in order to survive in the long term.

Without being verified one can only withdraw his / her assets.  The process of kyc of binance is very easy. Whenever you submit your kyc, you will be intermediate verified and you can deposit, trade everything in Binance.

I believe that there is a good reason why Binance is doing KYC which is basically going full on exchange with credentials in the nations that doesn't accept them and that is where they will need this KYC part as well. You have connection from binance.us to binance.com as well so basically you are doing something that you should not be doing if you are an exchange with that where you are leaving a tunnel left that would be basically just something that could help people who carry money to another nation or something.

As long as you have that KYC going on then you are not going to have too many people stealing money and moving it out of nation or you won't have the money laundering as well. There are too many bad people that would use it and KYC will stop that and it would help the governments to get those people and that is why KYC is very important for binance to get more legit.

Binance is a very good platform to trade on, though, for the Binance.us I don't know neither do I use that platform cause they might have some slight change in their rules. I think it is okay to have a verified KYC with the trading exchange of your choice, except you don't have the necessary documents to complete the verification process. Outside that, I don't see any reason why one shouldn't verify his account in any platform of trading. The mode of verification on binance exchange is simple and easy to pass with immediate response if the process is/was successful and accepted.

Trough Binance need KYC right now because an effect when China banned cryptocurrency and many exchange list, now they give feedback respond when Binance should KYC for every member when trading there, Binance have not allowed people from China to use Binance and I think when KYC procedure adopt there are not any chance for China to use Binance any more, for later not any impact again if China make new announcement and give bad news about bitcoin or altcoin because almost exchange have banned user from China.

No, it was before the situation, now it has completely changed, you need KYC for deposit of money and somehow it needs to withdraw the amount. So, it would better for the people to verify for the security and safeness of their money and trading account, I don't even think it has now the same as before, its security is tough now.

Binance is a very good exchange site for trading. It is easy to trade here. You can verify. It's very simple. When you submit kyc, it becomes verified. So think of a simple tie.Binance security is very tight..

More on government policies which Binance can't be avoided to implement to secure the future of their business, unlike before where you can enjoy 2btc unverified account, Now, in order to use the service you need to have an intermediate verified account and if you want to increase your trading volume, you need to move up and process the remaining requirements.


If you trust the site, there's no problem completing the verification and enjoy all the benefits as end users. More on your personal appreciation with this exchange and how good you are in dealing with KYC.

Absolutely I think binance is much more trusted than other trading platforms but many will not be interested in using binance after they turn on verification if binance does not move away from the mandatory kyc decision for everyone, many people will stop using binance excluding the use of binance will reduce the number of subscribers of binance in general. My personal opinion is that binance may deviate from their decision at any time they are thinking of the customer and maybe they are taking this kind of step kyc would have canceled it later.

It is true that you will not be able to trade on large amounts without KYC, and withdrawal of funds will be impossible if you do not pass verification, this is of course a minus of this exchange, there you must provide a full package of documents in order to pass this check, otherwise you will not be able to normally trade and withdraw funds from there.

Currently, withdraw is possible without KYC but deposit and trading are not available because I already check my account, and they are allowing for withdraw of my funds without any issue but not allowing me to deposit more funds or having any option in trading because due to some regulations they are forcing all members for this.

Not only Binance now having few other exchanges and sites are also forcing for this KYC because day by day authorities in different countries are forcing for this all as FATF rules are also having some stick check on these for stopping money laundering and finance supply to terrorist groups. Right now, very few P2P sites are available for trading without KYC.

Even with a small amount, you can't trade if you don't do KYC on binance. They've become strict and they've required everyone to do mandatory KYC.

Wrong mate. If you don't do such, no other activity but only withdrawals. So it means that even if you don't comply to KYC, you're still allowed to withdraw but there's no sense on trading there anymore if you're only going for the withdrawals until your funds are dry.

Most of the centralized exchanges enforce KYC procedures, including Binance now can only make withdrawals if not KYC. But I don't mind if I have
to do the KYC procedure, as long as I can trade safely. Maybe for some people who are not comfortable doing KYC procedures can use
decentralized exchanges, or use platforms that provide P2P transactions without KYC. There is still a solution for those who want to trade without
doing KYC procedures, so there is no need to force trading on the Binance exchange. But for me it's ok to do the KYC procedure, because I believe
in Binance's reputation, after all I have been using Binance exchange for trading for a long time and have never had any serious problems.
So if Binance exchange  finally enforces KYC now to be able to trade, it must be related to regulatory issues that Binance must comply with.

It seems  that since the first of November 2021, my account is now prohibited from trading. I thought about switching to kucoin but I have also heard of unjust account freezing going on over there. So I think I am just going to withdraw funds from all exchanges, and trade using defi dex's. Although I do not have much experience with trading on DEX's. How are the fees for BSC? Is trading expensive for BSC? Myetherwallet wants to swap at astronomically unfair prices. So each swap I would pay a hundred dollars to trade 20k from busd to bnb for example. There has to be a better way to trade without giving your information to exchanges. :'(

i think my binance account restricted so early to you,
7th october i have got email from binance and i'm restricted to only for withdrawals.
although i have been warned a few times to complete intermediate kyc.