Does Binance need kyc to do any trading?

[Issa56]

Seriously binance is now getting very hard to use now before kyc is not really mandatory for every binance members but there is a limit which you can withdraw in a day but now before you can trade any coin you will have to verify your kyc first, which I don't really agree with kyc because you are definitely revealing your identity for people.

It's not, you don't have to fully verify your account, just have the email and phone number confirmed and you're already good to go since the daily limit for withdrawals which is what many look for is around 2 bitcoins.

I think there new rules is you have to be fully verified before you can trade but am not really sure because it has been long I did my verification but I think verification is now mandatory on binance.

[Potato Chips]

No, you need to undergo KYC before you can do anything else in binance.US

Binance.US makes it easy to trade, buy, and sell cryptocurrency—but before you can, you will need to verify your account.

Binance.com is also out of the question as explained by users above. But if you're a US person, you shouldn't be using an exchange that restricts US persons and has a hidden KYC--- this means they can ask you to verify your account at any time.

[zahed]

Seriously binance is now getting very hard to use now before kyc is not really mandatory for every binance members but there is a limit which you can withdraw in a day but now before you can trade any coin you will have to verify your kyc first, which I don't really agree with kyc because you are definitely revealing your identity for people.

If you are not willing to revealing your identity for third party than centralized exchanges is not for you. But this rules of binance they will lost customers to requiring kyc before trading in binance. Their existing users have got more than 1 month to fulfill binance intermediate kyc. 

[tvplus006]

...If you value your privacy make use of the p2p exchange.

A P2P exchange cannot replace trading on Binance. The same applies to decentralized exchanges where we see very large commissions on the Ethereum network. You can use such networks as Matic, Solana, BSC, where the commissions are acceptable, but here we will face the fact that the number of available pairs is too small. I don't see an equivalent replacement for centralized exchanges yet.

[Johnyz]

...If you value your privacy make use of the p2p exchange.

A P2P exchange cannot replace trading on Binance. The same applies to decentralized exchanges where we see very large commissions on the Ethereum network. You can use such networks as Matic, Solana, BSC, where the commissions are acceptable, but here we will face the fact that the number of available pairs is too small. I don't see an equivalent replacement for centralized exchanges yet.

In Binance you have to pass the KYC before you use their P2P platform so technically you are also exposed here and you are not anonymous because of this. Binance are requiring a lvl1 KYC now as far as I know, and if you think its not good then look for other option, Kucoin is still not requiring lvl1 kyc, this could be your next best option.

[CaVO32]

...If you value your privacy make use of the p2p exchange.

A P2P exchange cannot replace trading on Binance. The same applies to decentralized exchanges where we see very large commissions on the Ethereum network. You can use such networks as Matic, Solana, BSC, where the commissions are acceptable, but here we will face the fact that the number of available pairs is too small. I don't see an equivalent replacement for centralized exchanges yet.

In Binance you have to pass the KYC before you use their P2P platform so technically you are also exposed here and you are not anonymous because of this. Binance are requiring a lvl1 KYC now as far as I know, and if you think its not good then look for other option, Kucoin is still not requiring lvl1 kyc, this could be your next best option.

Yes, unverified account in kucoin has still daily withdrawal limit of 5 btc, so maybe, take advantage of this opportunity before they start requiring their traders to undergo this obligatory KYC also. Some binance traders will look for other options especially those who don't want to submit their details. I was ok when Binance reduced the daily withdrawal limit to 0.06 btc for unverified as I am only small trader but when they totally implement full kyc for all users, then, I guess some traders will really look for other exchanges.

[Ziskinberg]

Hey guys! I got a quick question. I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day. Is this true with Binance.us?

Thanks in advance!

That is probably not only in the US alone. They are making this in all places, I guess.

Maybe they are strict on complying with KYC this time as I receive an email in the past days that I need to complete my KYC in order to make withdrawals, but the deposit is still open. I'd just to wonder honestly why they should have to ask it even we just make a small amount of withdrawals, that probably because of the government policy or they just want to give safety on our account.

[tvplus006]

Yes, unverified account in kucoin has still daily withdrawal limit of 5 btc, so maybe, take advantage of this opportunity before they start requiring their traders to undergo this obligatory KYC also. Some binance traders will look for other options especially those who don't want to submit their details. I was ok when Binance reduced the daily withdrawal limit to 0.06 btc for unverified as I am only small trader but when they totally implement full kyc for all users, then, I guess some traders will really look for other exchanges.

On KuCoin, as well as on Binance, for those who have not passed verification, there are a number of restrictions for the use of their services. These restrictions are not limited only to the withdrawal limit, but there is also a ban on participation in launchpads and margin trading.

[Charles-Tim]

Try to read people's replies from the beginning, you can see this link

https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca

[airdata]

I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day.

Existing user, those still not complete full kyc verification now their daily withdrawal limit is 0.06 BTC that was 2 BTC on the past.
For New user, need KYC verification and without any verification they can't access full feature of Binance exchange, and for Old user, those used Binance exchange without kyc verification, now need kyc for using Binance exchange otherwise they can't access all feature, that's clear that all user's need verified account.         

[HedgeFx]

After over 2 years i had to left binance : not for KYC (i done it due i deposited and withdrawal FIAT) but because it no longer to offer future trading for my country 

[rhomelmabini]

Hey guys! I got a quick question. I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day. Is this true with Binance.us?

Thanks in advance!

Good on before but not on this upcoming update.
They would requiring all users for Intermediate Verification.Therefore, there would be no already that limit of 0.06/day.
https://www.binance.com/en/support/announcement/51bf294e26324211a4731ca998e110ca

For new users then it would be effective immediately but for old users they do still have 20 days from now as of writing for them to comply.

Done this KYC thing and I say it was that smooth as long as you provide the needed requirements and if the resolution of your camera is that of good quality, it wouldn't be a hassle. Been using Binance mainly for spot and minimal futures trading and I think it's an obligation on my part to do this, not that I am maximizing that limit but for future preference as well if it gets stricter again.

After over 2 years i had to left binance : not for KYC (i done it due i deposited and withdrawal FIAT) but because it no longer to offer future trading for my country 

That's a sad thing for you mate, but need not to worry since Binance isn't the best in terms of futures trading, personal experience. There's Bybit, FTX and much more for you to discover.

[Hypnosis00]

I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day.

Existing user, those still not complete full kyc verification now their daily withdrawal limit is 0.06 BTC that was 2 BTC on the past.
For New user, need KYC verification and without any verification they can't access full feature of Binance exchange, and for Old user, those used Binance exchange without kyc verification, now need kyc for using Binance exchange otherwise they can't access all feature, that's clear that all user's need verified account.         

Well, that si happens that Binance urging users to get fully verified as to their intention. But I'm not denying that I wasn't fully verified and got an email regarding this. KYC is somewhat most people are worried about but Binance is a legit exchange with a high reputation, I think I have not to do against this, I have to comply for sure.

This has come as no surprise at all, maybe some who got serious dealing with their privacy might be an issue but as this was become mandatory, that they need to provide or to stop using their services instead.

[Ararbermas]

Hey guys! I got a quick question. I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day. Is this true with Binance.us?

Thanks in advance!

they already informed each users to have KYC in order to enjoy the full feature within the platform so probably that's the new policy of binance, in fact there are some complaints because they don't update their KYC during the said date and you know their accounts turn into withdrawal only, so that's what it's wherein no other option, if you really want to use their service just follow their rules..

[breathlessz]

Hey guys! I got a quick question. I have heard that on binance, you dont need to submit a KYC as long as youre not trading over 0.06 btc a day. Is this true with Binance.us?

Thanks in advance!

they already informed each users to have KYC in order to enjoy the full feature within the platform so probably that's the new policy of binance, in fact there are some complaints because they don't update their KYC during the said date and you know their accounts turn into withdrawal only, so that's what it's wherein no other option, if you really want to use their service just follow their rules..

if previously you didn't need a kyc but there was a withdrawal limit for one day. but if you need kyc, I don't think it's a problem, especially since binance is the most trusted exchange today, so we can freely take advantage of its features. Moreover, there are also many exchanges besides Binance that require Kyc

[otundebis]

Before now,  it was true you don't need kyc to trade two bitcoin a day for withdrawal.  However,  binance have been under the pressure lately to kyc it's users so there could be proper documentation to protect against money laundering and other related crimes.  What that means for users is that you must kyc no matter amount of bitcoin that you trade.  In my opinion,  kyc on binance is very simple and straight straight forward!

[Dragonfund]

Not sure about binance US but I've heard there's a policy of new accounts needing kyc before you can trade with them now?

Binance has been made mandatory for all the traders and you wouldn't even see Wallet Address deposit like it use to be in the past, to trade you must undergo an intermediate due to the new regulation.

Binance has to comply to survive if not they would loose every customer they work for so far from 2018 and it's as if all countries were doing it on purpose by sending Binance away from their space, they had to bend the rule of decentralization with minimum withdrawal of 2 btc to intermediate kyc, don't blame them but the country who were kin on anti money laundering scheme.

[Ziskinberg]

Not sure about binance US but I've heard there's a policy of new accounts needing kyc before you can trade with them now?

Binance has been made mandatory for all the traders and you wouldn't even see Wallet Address deposit like it use to be in the past, to trade you must undergo an intermediate due to the new regulation.

Binance has to comply to survive if not they would loose every customer they work for so far from 2018 and it's as if all countries were doing it on purpose by sending Binance away from their space, they had to bend the rule of decentralization with minimum withdrawal of 2 btc to intermediate kyc, don't blame them but the country who were kin on anti money laundering scheme.

The days of decentralization is gone, exchanges are regulated so they should abide by the rules for them to continue operating, even their so-called DEX is not fully decentralized at all, so what could we expect on their centralized exchange, of course, it should not be different from the others.

The popularity of crypto is unstoppable, so the government's job is to tighten its regulation regarding crypto so they would not be use for money laundering and since everyone exchanges their bitcoin to fiat, then obviously regulators will target exchanges to be more compliant.

[samcrypto]

Before now,  it was true you don't need kyc to trade two bitcoin a day for withdrawal.  However,  binance have been under the pressure lately to kyc it's users so there could be proper documentation to protect against money laundering and other related crimes.  What that means for users is that you must kyc no matter amount of bitcoin that you trade.  In my opinion,  kyc on binance is very simple and straight straight forward!

This is one of the reason why Binance is already asking for a basic information, KYC is a thing now and regulations are getting strict with Binance which can affect their system if they didn’t follow that so they have no choice but to implement this one now. Binance US for sure they are also asking for a basic KYC, if you’re good with that you can easily fill it and enjoy the Binance services.

[Hamphser]

Not sure about binance US but I've heard there's a policy of new accounts needing kyc before you can trade with them now?

Binance has been made mandatory for all the traders and you wouldn't even see Wallet Address deposit like it use to be in the past, to trade you must undergo an intermediate due to the new regulation.

Binance has to comply to survive if not they would loose every customer they work for so far from 2018 and it's as if all countries were doing it on purpose by sending Binance away from their space, they had to bend the rule of decentralization with minimum withdrawal of 2 btc to intermediate kyc, don't blame them but the country who were kin on anti money laundering scheme.

They wont really be having any choice but to comply and follow on whats been mandated or else they would really be facing real issues and they dont like that which means they dont have any choice.

As a user neither old or new one then you would really be need to verify for you to make use of all of features and services but if you dont like kyc then you could choose up another exchange.

Its up to your own choice and Binance is just doing on whats right and as a crypto enthusiast then theres nothing we can do.