Binance NonVerified Account Questions.

[jerry0]

Hi.  I have a binance account for a while.  I have coins there but I never sent in verification documents.  I got that email that if I do not send my verification by a certain date, my account will then be withdraw only.  I also read the withdraw limit right now is 0.06 btc since a while back they said if you didn't submit verification, that would be your withdraw limits.  I didn't mind that since I didn't have that much.  I do have to make two withdraws though most likely



My question is... does that mean I could still trade on binance at the moment before that date?  Or could I only withdraw right now?  Thing is I don't plan to submit KYC so people say if you don't, then make sure you withdraw your balance.  I do have some altcoins in there so I was thinking about trading it for btc or stablecoin and then withdrawing.



But anyone else with a binance non verified account can answer this question?

[khiholangkang]

All I know is that KYC is needed on Binance only to increase the daily withdrawal limit, and follow the events that are there.

If for trading you can still do it even if your account is not KYC verified.

[jerry0]

Can anyone here confirm this?  If so, i might trade my altcoin for btc or stablecoin before i withdraw.


Again i dont plan to submit kyc.

[vv181]

My question is... does that mean I could still trade on binance at the moment before that date?

Yes.

Can anyone here confirm this?  If so, i might trade my altcoin for btc or stablecoin before i withdraw.

You better withdraw all your balance as soon as possible since Binance is gradually limiting the accounts until the date mentioned in the email, so who knows when your account will be limited, it could be anytime before that date.

Refer to the below announcement:

Existing users who have not yet completed Intermediate Verification will have their account permissions temporarily changed to “Withdraw Only”, with services limited to withdrawal, order cancellation, position close, and redemption. This will be carried out in phases to minimise user-experience disruption, from now through 2021-10-19 00:00 AM (UTC). Existing users will be informed directly with more details. Once users complete the Intermediate Verification, they will be able to resume full access to Binance products and services.

BTW, you should move the topic to the Exchanges board.

EDIT:

I got that email... but then I got another email that seems to be two week sooner now?

Just withdraw your balances whenever possible. The restrictions could be applied to your account at any second.

Personally, my account already being limited to withdrawal only, when that happen, I got this email:

Your account is now restricted to withdrawals only. Get verified now

We were unable to verify your account
Dear Binancian,
Your account privileges are restricted to withdrawals only. To restore full access to your Binance account, please verify your account immediately.

[jerry0]

I got that email... but then I got another email that seems to be two week sooner now?

[magnum1010]

Hi.  I have a binance account for a while.  I have coins there but I never sent in verification documents.  I got that email that if I do not send my verification by a certain date, my account will then be withdraw only.  I also read the withdraw limit right now is 0.06 btc since a while back they said if you didn't submit verification, that would be your withdraw limits.  I didn't mind that since I didn't have that much.  I do have to make two withdraws though most likely



My question is... does that mean I could still trade on binance at the moment before that date?  Or could I only withdraw right now?  Thing is I don't plan to submit KYC so people say if you don't, then make sure you withdraw your balance.  I do have some altcoins in there so I was thinking about trading it for btc or stablecoin and then withdrawing.



But anyone else with a binance non verified account can answer this question?

There are three levels of verification on Binance. Two of them have become obligatory since august. If you verify your account you get an opportunity to withdraw fiat money directly to your card and also you can deposit more fiat money. I am not sure if you can continue trade without verification as to have basic and intermediate verification is obligatory now.

[TastyChillySauce00]

My question is... does that mean I could still trade on binance at the moment before that date? 

You could still trade on binance before that date and you can check it directly whether all of features are still available for you or not.

Or could I only withdraw right now?

As per the binance's message, your account's status will be changed to the withdraw only when you didn't complete the verification process on the deadline date.

Thing is I don't plan to submit KYC so people say if you don't, then make sure you withdraw your balance.  I do have some altcoins in there so I was thinking about trading it for btc or stablecoin and then withdrawing.

In my opinion if it's better to withdraw your money from there. binance was really sensitive. You should need to worry binance can lock your account anytime and you won't able to withdraw your money from there.
You were using exchange site and you must follow their policy. Think about that

[Harriett]

Hi.  I have a binance account for a while.  I have coins there but I never sent in verification documents.  I got that email that if I do not send my verification by a certain date, my account will then be withdraw only.  I also read the withdraw limit right now is 0.06 btc since a while back they said if you didn't submit verification, that would be your withdraw limits.  I didn't mind that since I didn't have that much.  I do have to make two withdraws though most likely



My question is... does that mean I could still trade on binance at the moment before that date?  Or could I only withdraw right now?  Thing is I don't plan to submit KYC so people say if you don't, then make sure you withdraw your balance.  I do have some altcoins in there so I was thinking about trading it for btc or stablecoin and then withdrawing.



But anyone else with a binance non verified account can answer this question?

Sometimes there will be cases of sudden freezing of otc assets, which will be automatically unfrozen after being frozen for 24 hours.

[freedomgo]

KYC verification would only increase your daily limit, but eventually, in the long run, they will require a full verification before their users can use the platform due to the strict regulations.

You can still enjoy trading of how much amount you want, but your withdrawal will only be limited to the figure you mentioned.

However, if you want to be safe that your account will not be compromised, I suggest you to follow the basic requirement, otherwise choose a DEX.

[cryptoaddictchie]

My question is... does that mean I could still trade on binance at the moment before that date?  Or could I only withdraw right now?  Thing is I don't plan to submit KYC so people say if you don't, then make sure you withdraw your balance.  I do have some altcoins in there so I was thinking about trading it for btc or stablecoin and then withdrawing.

If thats the case then convert it to btc and stablecoin. Its better to do that, before the timeline. We dont know what would they do, since they already issue an email regarding that. But I think you can still trade, they mentioned that your withdrawal limit stuck at 0.06btc it seems good enough if you are not a whale or regular trader. I just hope its daily though.

[Reid]

KYC verification would only increase your daily limit, but eventually, in the long run, they will require a full verification before their users can use the platform due to the strict regulations.

You can still enjoy trading of how much amount you want, but your withdrawal will only be limited to the figure you mentioned.

However, if you want to be safe that your account will not be compromised, I suggest you to follow the basic requirement, otherwise choose a DEX.

It looks like the "long-run" is now. I tried the Binance android application and the trade section or the market tab won't open. It's just deposits and withdrawals that I can access with.
They might be going thru their strict rules now and will try to put KYC on every user slowly. I don't disagree with this and I think there might be a larger reason into why they are going thru extreme changes. It might be for the better of their business and user experience. 

[pakhitheboss]

The verification is only for withdrawal limit and is not applicable for trading as per my knowledge. They are doing this because of pressure from different government agencies. There are many like me who are reluctant to complete KYC and I think they will lose a big chunk of customer because of this issue.

[jerry0]

Is there a way to confirm if ones binance account cannot be allowed to trade and can withdraw only?



I logged into my binance account and went to classic trade and went to see if i could trade my altcoin for btc.  Thus it seem like i could click on sell that altcoin.  But when you click on sell altcoin... does it automatically trade to btc?  Or it ask for confirmation?  Just want to make sure.



Do you recommend me to sell the altcoin for btc or stablecoin or just withdraw the altcoin?



When i look at withdrawing btc... i literally have like 8 dollars worth of btc only on binance.  When i went to withdraw btc... it ask what network?  How come the first two network cost like under twenty cents but the btc cost like 0.0005 btc?  So which would one choose then?  Again... i dont even have 0.0005 btc balance.



I have around 2000 usd worth of an altcoin on binance and about 8 dollars worth of btc on binance. 



How do you recommend i withdraw this?  Seems like i could even withdraw my whole balance at once with the 0.06 btc withdraw limit.



My options seem to be



Sell that 8 dollar worth of btc for that usdt/usdc?   Then withdraw either the usdt/usdc and the altcoin to my wallet?


Sell that 8 dollar worth of btc for that same altcoin I have.  Then withdraw that altcoin whole balance?


Sell the altcoin for btc.  That altcoin can only be traded for BTC or ETH.  Then withdraw the whole btc balance?


Sell the altcoin for btc.  Then sell my btc for either usdt or usdc.  Then withdraw either the usdt/usdc?




What is my best option here?  My issue with keeping that altcoin is im not sure if i could even sell it in the future because I cannot use many exchanges.  It is also an ETH coin so people say im going to pay lot of fees.


But if i trade it all for usdt/usdc... wouldn't i incur lot of fees as well?  I mean i dont mind keep usdt or usdc as its a stablecoin.

[leea-1334]

Is there a way to confirm if ones binance account cannot be allowed to trade and can withdraw only?

I logged into my binance account and went to classic trade and went to see if i could trade my altcoin for btc.  Thus it seem like i could click on sell that altcoin.  But when you click on sell altcoin... does it automatically trade to btc?  Or it ask for confirmation?  Just want to make sure.

Well the problem for you is you already have the altcoin inside,,, so instead of trading, I would assume you just want to withdraw it all, you should do that.

Trade and you should expect to be asked to verify if the limit is more than 0.06 btc.

Remember, even if you do not KYC, what you deposit is still rightfully yours and even if they close your account they must give this back to you (minus fees).

[Ararbermas]

All I know is that KYC is needed on Binance only to increase the daily withdrawal limit, and follow the events that are there.

If for trading you can still do it even if your account is not KYC verified.

probably it means you cannot trade any coins within the platform once you didn't pass the kyc in the said date.. Indeed they will not saying withdrawal only if  there are some things that still working in your account. They already emphasize it so must understand their new policy for better experience while using binance platform..

[glendall]

Can anyone here confirm this?  If so, i might trade my altcoin for btc or stablecoin before i withdraw.


Again i dont plan to submit kyc.

some say you can't use multiple exchanges, but you don't want KYC on binance for some reason
by looking at the amount of your balance at binance it is reasonable if binance asks you to KYC the funds you have in large quantities estimate 2000 usdt , take a positive session, if your account is hacked at least if you ask for accountability it can be adjusted to the initial identity

and respect existing policies

[Rigon]

Many messages have been sent from Binance to verify the accounts of those who have done Binance account.If you do not have verification of your account, you must have intermediate verification of your account.Later, if they band your account, then there is nothing to do. So do the intermediate verification on your account as soon as possible.

[24Kt]

The verification is only for withdrawal limit and is not applicable for trading as per my knowledge. They are doing this because of pressure from different government agencies. There are many like me who are reluctant to complete KYC and I think they will lose a big chunk of customer because of this issue.

I believe it is for all users already to comply this KYC requirement. Before, they release a statement about reduction of daily withdrawal limit to 0.06 btc, if you don't want to submit KYC. However, it is now changed to all users to submit KYC before using their platform.

https://www.binance.com/en/blog/421499824684902779/community/moving-crypto-forward-with-updated-kyc-policies-on-binance

But they are allowing users to withdraw their funds and I don't think the OP can trade his coin as per this announcement. The KYC requirement took effect last August 20.

https://www.binance.com/en/support/announcement/96f8819ce9bd429a8e733f87e92a2207

[Tigerheart3026]

i have binance account with approximately $200 usdt, i checked just now btw i did not received email from binance to complete intermediate verification as soon as possible.

may be recently they changing kyc policies, sadly for the requirement i can not trade there without kyc.

[Cornia]

I had some altcoins on Binance.  But when I heard about kyc i withdraw it. Because I don’t want to take any risk on my coins. Now I submit kyc and my account is intermediate verified. If you don't want to submit kyc better withdraw your funds.