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Author Topic: What exchange to use a US Citizen Abroad?  (Read 258 times)
jerry0 (OP)
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January 05, 2021, 04:04:07 AM
 #1

So apparently, I found out that Binance.com no longer allows US customers anymore even abroad.  A while back i used binance and traded btc for altcoins there.  I heard binance no longer allowed US customers but because im abroad pretty much all the time, well I didn't think it was a big issue as I log into binance.com without any issue.  I also never was verified there.  I heard it first was with US IP addresses that they banned but apparently its for anyone that is a US citizen.  So because of that, I know i can't use binance.com anymore as an American abroad.



Now my question is... what exchanges can I use as an American that is abroad all the time?  I know i could use coinbase/bitstamp without an issue from what I read online.  I assume Kraken as well?  But those would be for the main coins like btc/eth etc.  But if i want to trade for altcoins, what are my options?  I previously used bittrex a while back while abroad... but then they no longer allowed any customers from a particular state in the US... so i had to withdraw.  I was also verified on bittrex and because of that, i could not use bittrex anymore.




I heard people who use binance.com in the US... then moved on to binance.us... which is basically almost the same thing?  Its only with other us traders right?  But is there a ton of volume there?  And do they have the exact coins that are traded in binance.com?  The thing though is i wouldn't be able to use binance.US while outside the US right?  I would sign up for an account while abroad... so would there be issue with this?
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January 05, 2021, 04:09:55 AM
 #2

Have you looked at kucoin? I wouldn't trust them personally but I know of a lot of people who do so they might be an option - they seem to have more listing than binance do. There's also hitbtc and yobit which might be a bit scammy - I wouldn't trust them too much.

There are also exchanges that are decentralised like bisq and the waves exchange which could have the coins your after (though much less than binance). 
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January 05, 2021, 06:10:49 AM
 #3

Besides Binance.com, I like using Huobi Global. Haven't had any problems as of yet, but it's been almost a year since I've used it so do your due diligence.

I heard people who use binance.com in the US... then moved on to binance.us... which is basically almost the same thing?  Its only with other us traders right?  But is there a ton of volume there?  And do they have the exact coins that are traded in binance.com?
Binance.us has far less market liquidity(obviously since it has far less users) and far less trading pairs. You can check them out here:

Binance: https://coinmarketcap.com/exchanges/binance/
Binance.US: https://coinmarketcap.com/exchanges/binance-us/


The thing though is i wouldn't be able to use binance.US while outside the US right?  I would sign up for an account while abroad... so would there be issue with this?
I think you're allowed to use Binance.US regardless where you are right now, as long as you're a US citizen.

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January 05, 2021, 06:24:07 AM
 #4

Few cons of Binance US is less pairs and liquidity as mk4 said, and afaik it also requires you to perform KYC upon sign up, that or just much more strict KYC requirements compared to the Binance outside of US (not sure since I don't really use it). If you don't have any qualms about that, I'd suppose Binance US would work with you.
I heard people who use binance.com in the US... then moved on to binance.us... which is basically almost the same thing?  Its only with other us traders right?  But is there a ton of volume there?  And do they have the exact coins that are traded in binance.com?  The thing though is i wouldn't be able to use binance.US while outside the US right?  I would sign up for an account while abroad... so would there be issue with this?
It should be fine I think? You're still technically a US citizen and details you would put out would point out to you being one anyway, so I hardly doubt issues would arise. As for the altcoins, from what I've heard there's a different list between the US one, and are still currently adding more coins to it. Well, that news is around 3-4 months old, so the list may be almost complete by now.

R


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January 05, 2021, 10:12:36 AM
 #5

use coinbaazar.com , best p2p escrow exchange , can be used worldwide , safest app and website , lowest fee ,
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January 06, 2021, 04:18:19 AM
 #6

Well because im outside the US now... wouldn't there be issue creating a binance.US account since i have a non us ip address?


What about kraken?  What surprised me was i was looking at some altcoins saw nano for example... kraken you could trade it... well at least from what i saw on coinmarketcap and apparently you could buy/sell in actualy USD?  Can anyone confirm this?
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January 06, 2021, 08:38:35 AM
 #7

Well because im outside the US now... wouldn't there be issue creating a binance.US account since i have a non us ip address?
Similar from the above replies, you are able to create a Binance.US account as long as you comply with the KYC verification system upon registration regardless of where you are living right now. And I think that's the function of the KYC to verify their US citizen users in their platform regardless of your current I.P address.

"If you are a U.S. citizen or resident, please transfer your assets out of your account within 90 days. You may consider using Binance U.S. or other U.S. platforms

I think the keyword here is "citizen"

What about kraken?  What surprised me was i was looking at some altcoins saw nano for example... kraken you could trade it... well at least from what i saw on coinmarketcap and apparently you could buy/sell in actualy USD?  Can anyone confirm this?
Yep! You can trade NANO/USD pair in their spot market.
[1] https://trade.kraken.com/charts/KRAKEN:NANO-USD

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January 06, 2021, 11:35:45 AM
 #8

Have you looked at kucoin? I wouldn't trust them personally but I know of a lot of people who do so they might be an option - they seem to have more listing than binance do. There's also hitbtc and yobit which might be a bit scammy - I wouldn't trust them too much.

I have a soft spot for Kucoin, but it should be noted they were hacked for an alarming amount ($275 million) in September. Luckily most of it was ICO tokens that could be burned and reissued, but they were obviously keeping way too much in their hot wallets.
https://hackernoon.com/dollar275m-research-how-was-kucoin-one-of-the-largest-crypto-exchanges-hacked-jh1i3exb

I like using Huobi Global. Haven't had any problems as of yet, but it's been almost a year since I've used it so do your due diligence.

No good. They kicked out US customers about a year ago and pulled the plug on their US exchange (HBUS) shortly after. They want nothing to do with Americans.

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January 17, 2021, 07:55:27 AM
 #9

Anyone else?


Also if you use coinbase, always make sure you use coinbase pro right?



And thoughts on kraken and bitstamp?  I rarely hear much about these two exchanges with Americans compared to coinbase/gemini.
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January 17, 2021, 12:58:59 PM
 #10

Choices for US citizen to trade on a decentralized exchange is very limited like they have to choose coinbase or Kraken and Gemini. They can use the exchange without KYC verified but it is not safe for your funds, they can freeze your account at any time and will ask for the verification.

Have you considered using any DEX? yes, I know the liquidity is less but if everyone from that country starts using it will give enough liquidity for sure in a very short time.
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January 17, 2021, 08:34:55 PM
 #11

Choices for US citizen to trade on a decentralized exchange is very limited like they have to choose coinbase or Kraken and Gemini. They can use the exchange without KYC verified but it is not safe for your funds, they can freeze your account at any time and will ask for the verification.

Have you considered using any DEX? yes, I know the liquidity is less but if everyone from that country starts using it will give enough liquidity for sure in a very short time.



What is DEX? 


Well what exchanges are US users using for altcoins then?  Since they use coinbase/gemini/kraken for btc/eth... what about altcoins?  Back then it was binance/bittrex.  But now its only binance.us but i heard they don't have that many coin selection.  And bittrex... its banned in many states.
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January 17, 2021, 09:32:36 PM
 #12


What is DEX?  

DEX is short for a Decentralised exchange. AFAIK, you can trade on DEXs even if you're from the US  as it doesn't really matter where you're from. It's pretty much built to be inclusive unlike centralized exchanges that can be held liable for regulatory compliance.



Well what exchanges are US users using for altcoins then?  Since they use coinbase/gemini/kraken for btc/eth... what about altcoins?  Back then it was binance/bittrex.  But now its only binance.us but i heard they don't have that many coin selection.  And bittrex... its banned in many states.

Yes, Binance US division can't just list any token just as it's being done on their main platform. This is due to the fact that they do strict review of each assets before listing to ensure that they're not going against any regulatory laws or rules such as listing securities.

Last time I checked, majority of the top exchanges available have all restricted US users from trading on their platforms.

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January 31, 2021, 02:45:39 PM
 #13

Kucoin is a good alternative to binance given that they have very similar features and offerings and also doesn't mandate you to do KYC. When i was in the US, kucoin exchange was the one i used to buy BTC and other notable alts!
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January 31, 2021, 09:52:17 PM
 #14

Okay so there should be no issue creating a


kraken
binance.us


Account while outside the US then right?




So what are the exchanges then you recommend for me to use as im outside the US almost all the time?



Coinbase/coinbase pro

kraken

bitstamp




binance.us

kucoin




Is that correct?  Also is there anyone here still using their binance non us account while outside the US without an issue?  The last time i logged into it... not long ago... there was no issue at all.  But the thing is i never did any verification... and every login i did was outside the US.  But when you first signed up for binance... without verification, did they ask you for you country location though?  I don't recall if they did... but im pretty sure they did?  If so, why is it when i log in my binance non us account no issue though?
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January 31, 2021, 10:52:30 PM
 #15

You could have registered first with binance.us and see things by yourself on the available coins.  You will be surprised that you have a lot of alternative tokens that can be traded against BTC than any which has been mentioned here.

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January 31, 2021, 11:49:18 PM
 #16

You could have registered first with binance.us and see things by yourself on the available coins.  You will be surprised that you have a lot of alternative tokens that can be traded against BTC than any which has been mentioned here.




Well isn't the issue if i register with binance.us outside the US which im located now... well logging in with the same ip address to the binance non us site going to be an issue?
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February 01, 2021, 04:14:10 AM
 #17

Well isn't the issue if i register with binance.us outside the US which im located now... well logging in with the same ip address to the binance non us site going to be an issue?
It should be possible, the only issue is citizenship here hence why Binance US was created separately from Binance itself. KYC issues are the problem in here since US Binance strictly requires it. It may depend on how much you actually trade, but if its just every now and then, and you have a way to send funds to your wallet through some other way that doesn't involve your identity, then it should be fine BUT if you need your identity to transfer funds, the non us binance wouldn't work for you. Might as well use other exchanges than Binance US since it has far fewer trading pairs as well as volumes compared to its non us.

R


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jerry0 (OP)
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February 01, 2021, 05:08:17 AM
 #18

Does anyone know when you first signed up for binance.com non us site... if they asked you for your location?  Im almost positive they asked me for it though im not sure now.  But of course i never did verification because two btc withdraw limit... i saw was way more than enough for me so i never submitted it.


Is there any other us citizens abroad in this situation?


I also read that you can't use binance.us if you are residing outside the US but am a us citizen... is that true or false?  If that is the case, then a us citizen abroad can't use either binance then?
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February 01, 2021, 03:10:35 PM
 #19


You can use Binance.us and live outside but there are 2 conditions.

1) You can't use it if you're not a citizen but even being a citizen you can't use the platform if you live in a restricted state.
2) A citizen abroad can not use Binance.us. if he doesn't reside in the US at least XX days per year

- all the days in the current year
- 1/3 of the days the first year before the current year
- 1/6 of the days the first year before the current year

Today is February 1st, so:

- 2021: you have  to reside at least 32 days in
- 2020: you had to reside at least 121 days
- 2019: you had to reside at least 61 days

I don't believe Binance.com asks for your location since it already knows it based on your IP country

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February 01, 2021, 03:42:47 PM
 #20

Have you looked at kucoin? I wouldn't trust them personally but I know of a lot of people who do so they might be an option - they seem to have more listing than binance do. There's also hitbtc and yobit which might be a bit scammy - I wouldn't trust them too much.

I have a soft spot for Kucoin, but it should be noted they were hacked for an alarming amount ($275 million) in September. Luckily most of it was ICO tokens that could be burned and reissued, but they were obviously keeping way too much in their hot wallets.
https://hackernoon.com/dollar275m-research-how-was-kucoin-one-of-the-largest-crypto-exchanges-hacked-jh1i3exb

If the hack happened very recently, then the chances of this happening again are very small  Wink. It is unlikely that this happens with the same exchange every year. Kucoin platform's management must have taken measures not to repeat this mistake and paid more attention to security. This can happen to every exchange and no one is immune from hacking. Agree, this is not a reason to stop trading and stop using crypto exchanges. If you want to know a little more about  Kucoin, then you can pay attention to this - https://cryptototem.com/kucoin-review/.


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