Binance NonVerified Account Questions.

[Oilacris]

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.

Its a personal choice because there are people whom doesnt really like KYC in the first place and now this top exchange Binance had made out some changes which isnt surprising because sooner or later i had already anticipated for it to happen because there are regulations which are needed for it to be followed.

If you are a user which is unverified and turns out that this sudden change do sucks and you wont really like to comply kyc verification then its your choice to find another one.No one forces you to do so.

Im already long time verified user on this platform and i dont really have any doubts about identity leaks or something like that.

[livingfree]

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.

There's no risk even if you're not verified, they will still allow you to withdraw those coins because you really have no other feature on your unverified account but only to withdraw.

Now I submit kyc and my account is intermediate verified. If you don't want to submit kyc better withdraw your funds.

Then that's good to hear, every user of them is now required for the kyc.

[goinmerry]

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.

Not being KYC doesn't restrict you to withdraw your coins. KYC is for the account limit.

We can expect a mandatory KYC on Binance but I don't see it happening soon. Just relax a bit. If ever there will be changes, surely Binance will give time for their users to withdraw coins for those who are not willing to undergo KYC.

Anyways, you are now a KYC verified and just enjoy trading there. You also unlock now the P2P feature.

[blockman]

Its a personal choice because there are people whom doesnt really like KYC in the first place and now this top exchange Binance had made out some changes which isnt surprising because sooner or later i had already anticipated for it to happen because there are regulations which are needed for it to be followed.

If you are a user which is unverified and turns out that this sudden change do sucks and you wont really like to comply kyc verification then its your choice to find another one.No one forces you to do so.

Im already long time verified user on this platform and i dont really have any doubts about identity leaks or something like that.

Yeah, we saw that coming because they're starting to gain attraction from the mainstream and as well as the government. And that's why for most of their offices, they really have to comply with government rules and this is including to screen and filter their users and they're doing that likely for tax purposes. Also, they do it to avoid fraud and they can easily track transactions from people while it's inside of their platform.
If the new policy is against to your will, look for another exchange that doesn't mandate KYC.

[chaser15]

If the new policy is against to your will, look for another exchange that doesn't mandate KYC.

And in fairness, it's not an issue for me if I will comply with KYC with a big exchange. Others are just too overreacting with that KYC thinking their information will be used on criminal activities. It's true but it's not always the case for everybody.

Correct, look for other exchanges if not interested in KYC. But that is riskier as those platforms with no KYC are mostly non-popular exchanges.

[blockman]

If the new policy is against to your will, look for another exchange that doesn't mandate KYC.

And in fairness, it's not an issue for me if I will comply with KYC with a big exchange. Others are just too overreacting with that KYC thinking their information will be used on criminal activities. It's true but it's not always the case for everybody.

Correct, look for other exchanges if not interested in KYC. But that is riskier as those platforms with no KYC are mostly non-popular exchanges.

It wouldn't be an issue for many because it's enjoyable to use the exchange and there's a lot of features that you can enjoy being a verified account there. And on the other hand, there is no option but just to comply because we've been used to this exchange and they're safe as what we've experienced. We don't like to use other exchanges because it's been tested too and as usual, "funds are safu".

[carlfebz2]

Binance no longer offers their services to non-verified account holders. However, you can still transfer your assets to another exchange or wallet. Ensure that you move your assets as quickly as possible to avoid any issues. For those of you experiencing KYC issues, I recommend you use dex exchanges. As long as KYC isn't a problem, verify your account fully and start using all Binance services.

You would really still  end up on using centralized exchange and just like what other users or members post above then you  would really need to have some conversion with fiat which simply means that you would
really touched up centralized exchange no matter what.

Have no choice? There are still platforms who do still have unverified account considerable limitations for a day which simply means that you could really still have that one
and never too late to transfer assets if you could afford to.

Regulation is indeed going tighter which isnt really that surprising.