How do members from the US trade crypto Futures?

[Bitcoin_Arena]

I did check a number of crypto exchanges that offer futures trading but to my surprise. All of them seemed not to offer futures trading to the US Citizens according to their Terms of service which kind of got me wondering.

How do people from the US trade crypto futures?
Are there some regulated platforms that I don't know that allow Futures trading for US traders (a part from the likes of Bybit that haven't yet started serious KYC enforcement on US traders of course)?

[1714931237]

1714931237

[1714931237]

1714931237

[cryptoaddictchie]

Honestly I think there are people from US can simoly do trades even with future trading inspite of heavy regulations being applied to users.

I've got a friend from US and he is trading futures on Binance global like there is nothing wrong. So I'm sure there are ways they can do trade but I'm not sure whether it's a legal or violation on the rules. Also if they used some trick so they would not be found as US citizen or living inside the country.

[mk4]

Pretty much mostly through using big not-so-strict exchanges such as Binance and FTX, while using a VPN if you don't want to submit AML/KYC.

If you want to be fully legal though with AML/KYC and all that, I'm guessing the platform to use is Kraken.

[notblox1]

Maybe they are using some decentralized platforms for this or probably using vpn for changing location but problem is that Binance and similar exchanges are constantly pushed to make this more strict especially for US customers.
Here is the list of most exchanges offering futures trading:
https://www.coingecko.com/en/derivatives/futures

[Bitcoin_Arena]

Honestly I think there are people from US can simoly do trades even with future trading inspite of heavy regulations being applied to users.

I've got a friend from US and he is trading futures on Binance global like there is nothing wrong. So I'm sure there are ways they can do trade but I'm not sure whether it's a legal or violation on the rules. Also if they used some trick so they would not be found as US citizen or living inside the country.

Correct me if I am wrong, but one can not trade futures on Binance minus first verifying KYC. So I really wonder how you friend bypassed that.

If you want to be fully legal though with AML/KYC and all that, I'm guessing the platform to use is Kraken.

Sadly, Kraken too doesn't offer Futures trading to US citizens. Just like may other platforms I thought would.

2. Geographic restrictions
Kraken Futures are NOT available to clients residing in the United States as well as the following areas:

Afghanistan   
Algeria   
Bangladesh   
Belarus   
Burma   
Bolivia   
Cambodia   
Ontario, Canada   
Central African Republic   
Congo, Democratic Republic of   
Cuba   
Ecuador   
Equatorial Guinea   
Eritrea   
Guinea, Republic of   
Guinea-Bissau   
Haiti   
Iran   
Iraq   
Japan   
Lebanon   
Liberia   
Libya   
Mali   
Moldova   
Nepal   
North Korea   
Sierra Leone   
Singapore   
Somalia   
South Sudan   
Sudan   
Syria   
Tunisia   
Ukraine   
United Kingdom*   
USA (and territories)   
Vietnam   
Yemen   
Zimbabwe   

[cryptoaddictchie]

Correct me if I am wrong, but one can not trade futures on Binance minus first verifying KYC. So I really wonder how you friend bypassed that.

Hey that's why I am wonderunh cause he is residing on US probably using VPN or others name.

But let me add that there is no requirement on KYC for doing future trading on Binance Global, and I'm sure of that 100% cause Ive made a dummy account to try the service trading bot for future trading. KYC is isnt required to do so cause I am able to used the future trading without any hassle and no KYC on that dummy account.

[magneto]

I did check a number of crypto exchanges that offer futures trading but to my surprise. All of them seemed not to offer futures trading to the US Citizens according to their Terms of service which kind of got me wondering.

How do people from the US trade crypto futures?
Are there some regulated platforms that I don't know that allow Futures trading for US traders (a part from the likes of Bybit that haven't yet started serious KYC enforcement on US traders of course)?

As far as I know, most people from the US still use BitMex/Deribit except they hide their identity somehow - through a VPN or otherwise.

It's not the platform that determines whether or not someone from the U.S. can trade - it is entirely up to U.S. legislation.

With institutional investors in the U.S. popping up left and right, I do wonder whether or not they'll start to offer these trading services as well. There will also be institutional demand for these derivative products that can't be filled by circumventing legislation - they'll either move to OTC markets, or more mature platforms.

[Bitcoin_Arena]

As far as I know, most people from the US still use BitMex/Deribit except they hide their identity somehow - through a VPN or otherwise.

Not sure about Deribit but bitmex now require mandatory KYC verification in order for one to trade on their platform. So the only way a US citizen would trade on the platform would be through using fake KYC documents. VPN would barely help in this case

It's not the platform that determines whether or not someone from the U.S. can trade - it is entirely up to U.S. legislation.

The platform is tasked with ensuring that they don't let any US citizen trade futures on their platforms or else the fall in trouble with Commodity Futures Trading Commission (CFTC)

[The Sceptical Chymist]

With institutional investors in the U.S. popping up left and right, I do wonder whether or not they'll start to offer these trading services as well.

What about Bakkt and the CME?  Don't they allow bitcoin futures trading?  I fully understand that they cater to people/institutions with very deep pockets, but as long as you meet their requirements for trading I thought you could buy bitcoin options and such.  I haven't heard much about either one of those places lately on the forum.  I remember when the launch of Bakkt was a huge deal, and then it kind of fizzled out.

And yeah, I'm pretty sure Binance offers some of those services.  I'm really not into trading derivatives and prefer to stick to investing in the real thing, whether it's bitcoin, stocks, metals, or whatever.  But to each his own, eh?