Bitcoin Forum

Binance is gonna ban derivative instruments in my country by the end of December, because regulators here apparently care about my financial wellness, *read with sarcasm*.


So, knowing all the risks that such instruments can entail (especially with leveraged trading), I was wondering if using a VPN could still let me grant access to derivatives, because I don't know if, even when I'll try to log with a VPN, the system will recognize that my account is registered in a flagged country and still won't show me those futures.

Well you said it. They have your account details and they know your country from the KYC so I do not think it would be wise to risk large some of money you have in your Binance. For small sum which you are good to lose, go for it.

Your identity is at risk and Binance seems care more about their business than the idea bitcoin started.

I think Binance has removed the first method of identifying suspicious behavior by detecting the user's ip since they tightened the user with KYC. Your identity is the basis for them to impose any restrictions which will be subject to your local regulations. So, there is no point in using a VPN.

If the Futures page is accessible to you with a VPN, I assume Binance is trapping users en masse.

Sad for you mate, sad news for everyone who uses centralized exchange especially Binance. But there is always an alternative for Binance or other centralized exchanges. There are some decentralized exchanges that can be still used if you consider trading futures markets. Have you heard DYDX exchange? Mango markets? They could be an alternative for Binance.

And speaking of using VPN, please be careful here, you should first read the TOS of the exchange because your funds could be locked and trapped once you break some of their rules or terms of services.

I'm not sure what is the situation there but I would look for an alternative first.

Imo you have less chances of getting into the horror of exchanges freezing your funds if you aren't straight up breaking their TOS. Yes, you can put an amount which you find easier to leave but what if you were able grow it to a decent amount? Would you say it is still easy to let go if it took your time and effort to get it? that is also something to consider.

(this is all supposing that for some reason you are able to circumvent the ban wave. I highly doubt this but then again this happened: Some people are still able to trade p2p on Binance using new unverified accounts (https://bitcointalk.org/index.php?topic=5361929.0))

I think if the government is going to ban binance, then it will also give some time to the binance users to make their money transferrable and withdraw their money safely. So, done be too scarcely, always take good measure before going into some position. And another thing it will be very easy for the people to withdraw their money using VPN also.

Vpn will not help you to be anonymous with your interactions with binance.  Binance have pushed for Kyc and I believe you must have been kyced. If you can move to another country that is not banned from trading future,  that should be fine otherwise,  you should try defi activities on ethereum and you could find option trading and much more!

Should have mentioned the country as well for extra knowledge. Well its not like you will be optioned out after finance bans its derivative trading. There are hundreds of other exchangers who offer this service. Recently share market based platforms like iqoptions and Toro has also emerged as life saver by offering the crypto based trading.

I don't think you need to go ahead of everything by using VPN. Why not check out another exchanger suitable for you and your country.

Well the account should naturally be banned since you registered with it legally at first, I'd reckon Binance would actually remove or mark those accounts as legally removed since they were made with the mark of your country. You can try to create a new account while using VPN, I'd reckon that would work though you'd be stuck with the KYC requirements of Binance since afaik, Binance now requires KYC for someone to even deposit? Or was it withdraw? Afaik it was one of the two, and not being KYC registered severely limits what you can do afaik. Try to find another alternative, a new exchange I'd reckon.

probably you can still use VPN for it but be careful because in just one mistake for sure your account will be locked forever. Or just withdraw your money instead while it's not late to assure your money in it is totally safe and after they implement that ban then look for another way aside of VPN .. Perhaps there are some exchanges out there that don't need kyc and etc as a requirements. Btw swap site's maybe a good option to trade..  :D

Exactly, even with a VPN Binance will still know who you are, and if your information was to be passed on to the government as Binance will not

side with you on this (since they seems to be complying with local laws), then you'd still be in trouble.

You could, of course, run the stats for the chance that your account specifically will be given out but not sure if you want to take that chance.

Binance futures is a highly risky trading. And many peoples lost their account balance in future trading. It is beacuse when we take high leverage and market goes opposite to our trade. There are two types of positions long position and short position.

I don't think is possible for you to make use of VPN since all the details in relation to you account is with them already. Remember that Binance exchange is not like all these social media platform that you can use VPN to do what the company terms as wrong.

Binance did increase their security a lot over time. I use to have one alt Binance account. I didn't use it at all and it was fine but somehow recently, Binance flagged it to be locked if I can't verify and KYC it. I think even if you got past the VPN and can use Binance Futures normally, you're at serious risk of losing your account at any time. Totally not worth and you should move on or find an alternative exchange to use.

Binance got your identity so if they're going to look at your account by chance and you're accessing through a VPN, it might trigger them that you're logging in from another country's IP address.
Although to give you some delight, I've read people who have been using VPN all along and they have no issues about it and they're free to navigate with all of Binance's features.

You don't need to stress your self using vpn to override or bypass ban. Just try to find another exchange to trade futures. There is ftx, bybit huobi etc. With Great features also.

When the bitcoin crashed from 60K to 30K, a lot of futures positions were liquidated, enormous amount of money was liquidated and that's the reason why some countries decided to ban futures trading and leverage trading in overall. I would say that it's good decision, it's like compared to drugs, some people take them responsible and some - abuse but finally we ban them.

That's the question I am interested in it too. Once, I randomly opened Binance app on my smartphone when I was using VPN (connected to USA) and Binance immediately showed me a warning message that I was in the USA and couldn't use their service via my app, I needed to visit binance.us for more.

From this example, I can say that IP change worked but idk if they give you permission according to where you live or from where your citizenship comes.

Simple, you won't be allowed to go to futures even after using a VPN as Binance knows everything about you (at least what you told them when you created your account).
This is the major flaw when we talk about regulations, we were dying for it. Now it's taking back things from us we already had and were happily enjoying it before we even thought of asking for regulations.

But I wouldn't use VPN if I were them, it seems kind of a trap when Binance triggers and detect that you are using a VPN they will surely seize your account and the worst scenario is they will hold your fund and will never give it to you.

If Binance isn't for you, try to find other exchanges platform that has the same on Binance.  Let's accept that most of the centralized exchange now was following governments guidelines and protocols and they didn't care about us, it's all about their business.  I have doubt that many Binance users now have been moved into other exchanges platform because of these heavy regulations by Binance.

Not a trap though but it's the usual thing that we traders are aware of. It's just a mix of experiences and even me, I wouldn't use a VPN upon accessing my account.
It's easier to log in if they detect the usual IP that we use on them so that there's no problem upon logging in. I don't think that when you use a VPN, they'll seize your account, they'll just ask for some verifications to verify that it's you, the actual owner of that account.

It is ok till verifying that it's you, but they have started freezing funds of customers who, according to their belief, are suspicious to them based on any activity they don't like. And using a VPN is one of them. They caught me once as I sent some coins straight from my gambling account to Binance.
According to me, I did not commit anything wrong but they froze my funds till 24 hours and when I asked them why did they do that? They told me about my 'mistake' and asked me to never do that again in future. That was despotism I faced from them. So when you are using their services, it is in our account's good not to unnecessarily mess with them.

Directed by sheenshane, I would leave Binance and go for another exchange that has not banned services in my country, to save myself from all the mess I need to go through to use Binance.

I will not advise you to use VPN to access your Binance account as it may lead to temporary suspension of your account as the system may read it as a suspicious activity since they already have your personal details. I have once tried it and Binance logged me out of my account.

At least, you can continue to use the exchange for spot trading while you use another exchange for futures trading as long as they permit citizens from your country to use their platform.

I think in your case it's a different thing, you've sent directly your funds from a casino and that would make them freeze your funds for a moment.
But that experience of yours tells that Binance can really do whatever triggers your account and makes them suspicious about your activity within it.
So, it's better to learn the experience of others before deciding if someone wants to with a VPN or not.

already happened if binance was banned in some countries.  but VPN rules won't always be active.  because in my country the binance mobile application can be accessed easily without having to have a VPN, the most important thing is to comply with KYC regulations and the Binance access system is quite strict.  so it's not new if binance is banned in some countries, it has happened in the last few years

for me you just need to step back from all the risks of banning the use of certain countries by binance, because it is very fatal if you are still trading under various disguises because of course the prohibition system stated by binance is very strict for users to no longer access to enter and immediately take assets you and trade on other exchanges without having to binance. i have finished it

I have had issues like this, but not with cryptocurrency platforms, but a different case where the government in my country decided to ban a particular platform and I had to make use of VPN to access that website, it was a really a frustrating thing to do. Only the stress of having to look for a reliable VPN alone is going to be a heavy stress on you.

But anyways, if you can do that, then you can go ahead. Or best to look for other means or platforms to continue what you’re doing without any restrictions and having to rely on VPN.

Especially when the OP has a large fund with them, using VPN can very risky if detected you may lose all your funds consequence of defying the ban by bypassing their system, binance is very strict with their rules, the best bet is to transfer all your portfolio to another credible, reliable and trusted exchange with good user interface like binance and continue with your leverage trading, I think the OP is earning well with the leverage trading before the ban of his country by binance.

That's sad! I think after the recent rule of Binance of Mandatory KYC for all users you won't get away without mentioning your country there. So they would know your country of residence but yes you obviously can display that you are active from some other country. But I wouldn't recommend you do any such when your country is banned because someday if you land into some trouble with Binance futures and look for Binance Support, they will straight away back out by saying they don't provide services to your country and therefore they cannot resolve your issues/ retrieve your funds, VPN users are number 1 target of scammers.

Even you use VPN, once you submitted your KYC over binance platform it was indicated there what country you belong,
So I think it won't work for sure using Binance, but for the other things in cryptocurrency perhaps, you could still do whatever
you want it to do something like that and just a thought.

Gone are the days of Bitcoin future exchanges such as Bitmex where all you needed to do was use a VPN and you could trade in countries such as USA. I remember that if you frequented the Bitmex troll box the mods even said to use a VPN if you want to trade in the USA. Later on that got them in hot water.

These days exchanges like Bitmex and Binance are KYC. So if you use a VPN you are going to have issues. You will need an identify in that country and this would be very illegal to do and risky and if you were caught your funds might be frozen.

Got the blame the regulators for allowing this to happen.

Bad idea, at some point they would ask you for face recognition which nobody know when it will occured.

better to follow the rules , especially if you talking about a huge amount of money. too much risk.
binance thesedays acted so annoying but yeah they cant do much as they have an order which cant be ignored or the business could completely shut down due law enforcement in progress everywhere against crypto, against bitcoin.
i can imagine if i were in binance position.

Before using Binance to trade derivatives, you had to first verify your account.. Yes?

Using a VPN is not subtle at all since Binance already know which country you are based in.

Just try out other exchanges that have not yet banned your Country is there are any. Move on from Binance if you want to trade derivatives.

Yes, it will not change his status even if he is using VPN because the exchange already got his info.
The better way is to look for other reputable exchanges offering the same services, in which, your country is not yet prohibited.
Don't insist on using binance by thinking of going around  their system because as it is implied, they already got your identity.
Binance is not the only exchange offering this service.
You can check this list in cmc - https://coinmarketcap.com/rankings/exchanges/derivatives/

You should not try to cheat the exchange, this may lead to your funds being blocked and it will take you a long time to get your deposit back.  It will be the best option for you to register on another exchange, where you will be welcome and you will not violate the rules of the exchange.