Binance squeezes users on verification

[checkmatesir]

As it is really important too because that will give you benefits too, for example when you're getting to your account from different IP addresses, the framework will regard it as “suspicious” and will briefly suspend withdrawals from your account to secure your resources.

[freedomgo]

As it is really important too because that will give you benefits too, for example when you're getting to your account from different IP addresses, the framework will regard it as “suspicious” and will briefly suspend withdrawals from your account to secure your resources.

Being anonymous comes with great risk as well, that's why I agree with you that KYC verification is very important to protect your account. When your account is verified, that means you are legally using the exchange with your identity and even another 3rd party can help you in case the time will come that the exchange will face a problem and the 3rd party or regulators will take over.

Exchanges today is like banks.

[suryogandul]

there are actually advantages and disadvantages to binance pressing on verification to all users. but back again to the feeling of the user. whether they can go with the flow that is run by binance or not. otherwise many child users will move to other exchanges

[Kasabus]

As it is really important too because that will give you benefits too, for example when you're getting to your account from different IP addresses, the framework will regard it as “suspicious” and will briefly suspend withdrawals from your account to secure your resources.

Being anonymous comes with great risk as well, that's why I agree with you that KYC verification is very important to protect your account. When your account is verified, that means you are legally using the exchange with your identity and even another 3rd party can help you in case the time will come that the exchange will face a problem and the 3rd party or regulators will take over.

Exchanges today is like banks.

And besides, KYC is not new to us, most of us are already aware of this and many had already complied with this to some legit exchanges( including me). With the decision of Binance I've never seen any wrong about this instead, they are helping us on how to protect our account and funds. As this was the intent for the security, I certainly have to follow and submit, not unless if the site was suspicious.

I foresee this KYC will become mandatory not only for Binance but this will happens across all exchanges in the future.

[LoyceV]

Binance's verification deadline passed, so my 2 BTC withdrawal limit should have been reduced to 0.06 BTC by now. However, the site still shows the full 2 BTC as daily limit.

When I withdrew a small amount, I got this popup:

I've never seen this before, and although it looks scary, my withdrawal was processed instantly.

[freedomgo]

there are actually advantages and disadvantages to binance pressing on verification to all users. but back again to the feeling of the user. whether they can go with the flow that is run by binance or not. otherwise many child users will move to other exchanges

Because they can never verify their account since they are minors, however, if they are really earning money, they can always ask someone to get the KYC verification from them, probably their parents or their older brother or sister, there are many ways actually if one is still willing to trade with the exchange.

Some exchanges may not require KYC, but the risk would be too high of getting scammed especially if they don't have a good reputation.

[mindrust]

As it is really important too because that will give you benefits too, for example when you're getting to your account from different IP addresses, the framework will regard it as “suspicious” and will briefly suspend withdrawals from your account to secure your resources.

Being anonymous comes with great risk as well, that's why I agree with you that KYC verification is very important to protect your account. When your account is verified, that means you are legally using the exchange with your identity and even another 3rd party can help you in case the time will come that the exchange will face a problem and the 3rd party or regulators will take over.

Exchanges today is like banks.

Bingo.

As I said before, this is the moment when Binance becomes a bank and it will be the final destination for the other exchanges too. The government forces the exchanges to ask for KYC and exchanges have no other choice because their biggest partner is the government. In other words, the governments won against crypto, already.

[LoyceV]

As I said before, this is the moment when Binance becomes a bank and it will be the final destination for the other exchanges too. The government forces the exchanges to ask for KYC and exchanges have no other choice because their biggest partner is the government. In other words, the governments won again crypto, already.

Governments can't win from crypto, it's the big money that's winning from crypto. Binance or any other exchange could just as well stay off the grid, but they couldn't possibly become this big. So in order to grow and get richer, they'll have to follow regulation at some point. Binance isn't the first and won't be the last.
But new exchanges are created all the time, some of them completely anonymous. The big problem is trusting them.

[rat03gopoh]

Latest Binance's offer to immediately verify your account, may not be available after KYC is strictly required.
$2k giveaway, anyone interested?

I don't think this is a form of squeeze, just pleading not to leave.

[Rrita]

Latest Binance's offer to immediately verify your account, may not be available after KYC is strictly required.
$2k giveaway, anyone interested?

I don't think this is a form of squeeze, just pleading not to leave.

Thanks for bringing it here. Hope some new user will submit there KYC document now.
I am an Existing verified Binance accounts owner. I have no problem with KYC. I believe in Binance, I feel safe there. Although there is some hacked happened. But SAFU makes me safer now. So why still using Binance. Still, everything is fine. If really you want to stay anonymous then try to use Decentralized exchange.

[LoyceV]

Latest Binance's offer to immediately verify your account, may not be available after KYC is strictly required.
$2k giveaway, anyone interested?

They're giving users a small chance (much worse than 1:100) to win $20. The owner is a billionaire who charges even more than $20 to withdraw Bitcoin. This "giveaway" is pathetic!

[mindrust]

Latest Binance's offer to immediately verify your account, may not be available after KYC is strictly required.
$2k giveaway, anyone interested?

I don't think this is a form of squeeze, just pleading not to leave.

Sounds pitiful.

They can and will ask for KYC anyway why make giveaways? The only reason that makes sense is they are losing customers and trying to do damage control. If a person has no interest in doing KYC they will have to give a lot more than lottery tickets.

This is the same thing the vaccine worshipers  did to the Polish people.

https://notesfrompoland.com/2021/06/25/poland-launches-lottery-offering-millions-in-prizes-for-people-vaccinated-against-covid/

[noorman0]

Although we can avoid KYC by switching to another exchange, it will not be permanent. It's just that the government hasn't reached out to the smaller exchanges which they will in turn experience what Binance has.

Sometimes I think that one day we will give up out of necessity and there is no chance left to evade regulation, traders need a central exchange for some reason. Choose the best exchange based on personal experience, then apply KYC.

[freedomgo]

Although we can avoid KYC by switching to another exchange, it will not be permanent. It's just that the government hasn't reached out to the smaller exchanges which they will in turn experience what Binance has.

Sometimes I think that one day we will give up out of necessity and there is no chance left to evade regulation, traders need a central exchange for some reason. Choose the best exchange based on personal experience, then apply KYC.

That's the reality, they are after the tax evaders and the Anti Money Laundering council are working to monitor transactions that are used for illegal purposes and they will not allow exchanges to be used for money laundering, so regulation is really inevitable. No choice for us, we comply or we will not avail the service, and if decentralization is really the key for exchanges, then we should still have the popular DEX in the past, and even Binance DEX is not a success IMO.

[Lanatsa]

Although we can avoid KYC by switching to another exchange, it will not be permanent. It's just that the government hasn't reached out to the smaller exchanges which they will in turn experience what Binance has.

Sometimes I think that one day we will give up out of necessity and there is no chance left to evade regulation, traders need a central exchange for some reason. Choose the best exchange based on personal experience, then apply KYC.

Leaving no choice would really be ending up on dealing with KYC even it is really against out interest and personal views because we've dealing with crypto then we do really expect too much that things
wouldn't really change up but it seems we are really heading there.

Its true that smaller or non popular exchange didn't really able to reach by the government for now but once those platforms do make out some noise then they would really
be next on line.

So prepared for that inevitable thing unless if DEX would really be that relevant.