Does Binance need kyc to do any trading?

[eaLiTy]

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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.

They are not asking to verify your account for US customers but for everyone i believe. I was trading with them from the start and my monthly volume i usually would adjust within their limits to avoid their KYC but two days back they asked me to verify the account if i want to continue trading or asked me to withdraw the coins, basically i was asked to verify my account to continue trading or move out.

[jostorres]

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.

This is very sad because I personally use this exchange for very long time and never have any issue in any deposit, trading or withdraw, but suddenly they send an email please verify your account otherwise your account could be restricted I never take this seriously because I was feeling may be this is just for pursuing, but they will never do anything.

But now they disable my deposits and I can't do any trading just able to withdraw my funds if I don't like this KYC, after reading many articles and other updates now realizing they are right in this case because now many countries insisting for this otherwise they have to shut down their all business.
 
So, now we have to live with this because we have no good choices without this KYC, if we want to live in some better and secure environment then we need to clear this also.

[martina14]

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!

I am one of the regular trader in Binance dude, I could say that before yes, you are not oblige to submit KYC, until your not reaching the limit amount of your withdrawal over this platform. But, recently, they've changed were all traders are oblige to submit some of the requirements were binance need it to any user to verify if it is really you.

[danherbias07]

This is very sad because I personally use this exchange for very long time and never have any issue in any deposit, trading or withdraw, but suddenly they send an email please verify your account otherwise your account could be restricted I never take this seriously because I was feeling may be this is just for pursuing, but they will never do anything.

But now they disable my deposits and I can't do any trading just able to withdraw my funds if I don't like this KYC, after reading many articles and other updates now realizing they are right in this case because now many countries insisting for this otherwise they have to shut down their all business.
 
So, now we have to live with this because we have no good choices without this KYC, if we want to live in some better and secure environment then we need to clear this also.

I also don't like what happened although I am one of the guys who did KYC years ago because of an issue regarding my 2FA. They won't let me through if I won't submit any information and my account will just be forfeited. All we could do is to find a new exchange that provide the same service as Binance before the mandated KYC and of course trust rating should be part of it.
I think Kucoin still offers a non-KYC trade, deposits and withdrawals. We are back to research if we don't agree with them. Perhaps a new exchange will come out again to take the top rank.

[Peanutswar]

From the previous time with binance, they are allowing their non-verified users to make a deposit and withdraw just the use of the basic verification without having ID.

Code:

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

They only allowed now the withdrawal for the no verified users so it's looks like mandatory to make a following the KYC verification of their platform.

[South Park]

Don’t fill up any KYC if you don’t want to, beside Binance is a great exchange and you can enjoy their features by filling up the KYC so I don’t see any reason to remain anonymous on Binance platform, well its your personal choice.

Privacy is an important part of our lives and we have a right to it no matter how much the government, private business like Facebook or even our peers pressure us to give it up, retaining a high level of privacy is necessary in this day and age precisely because governments and private companies are interested in using every single bit of information about you to try monetize you or to keep you monitored.

[Cornia]

In order to trade for a new account, at least intermediate verification is required. And the old unverified account can only withdraw their coins from Binance. However, intermediate verification is required to trade for old account.

[Cling18]

I'm an old user and I received a notice of verification request last time which I have complied with since that's their requirement. However, I don't doubt submitting my personal details to them since they have been trusted for years. They're providing a good service so I'm sure that they're also requiring us to comply with their KYC for our own protection as well.

[iv4n]

I'm an old user and I received a notice of verification request last time which I have complied with since that's their requirement. However, I don't doubt submitting my personal details to them since they have been trusted for years. They're providing a good service so I'm sure that they're also requiring us to comply with their KYC for our own protection as well.

I got the same mail, but I didn't verify myself and I still trade! When it comes to the point I need to verify in order to trade or stake I will probably move to some other exchange... Binance and all features there are great, but I will support the places that are not asking for KYC!
Binance is definitely great, but as it looks like they are going to have a mandatory KYC in the future, at least it's what I think will happen, it's just a question of time. But luckily there are other places that are good for us amateurs!

[so98nn]

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?

That’s very scary answer if you know nothing about the binance. Well binance is huge company now and they have set up different rules and regulations as per the country they are operating in.

Binance knows their way into diffent countries and undertaking all the revaluations in accordance with those government. For example, just now I came to know that Binance is going out of the market from Singapore considering that Singapore government is not in favour of crypto currency. On the contrary they are very very strong in the country like India or some Europe region where the restrictions are somewhat in accordance with the government regulations. So binance can be declared as multi national exchanger with different rules and revaluations in terms of KYC. Better get in touch with the respective binance customer support.

[fullhdpixel]

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?

I would say that there are swaps now that you do not require to give any KYC at all if only thing you want to do is trading. Yes the depositing part and withdrawing part still is a big challenge, finding a place without KYC is hard and I have my KYC both in binance and also in 3 of my local exchanges (moved to better ones each time) and that is why I can't say that I am "against" KYC while having my KYC in 4 different places.

However I did that because I was forced to, they requested it before I can do any withdrawal and because of that I gave them my information, I rather not do that if I had the chance but I didn't have that option. So, which means I am fine with KYC when I am forced to when it is from an exchange (still don't do it for casinos) but I also believe that if it wasn't asked at all that would have been even better.

[goldkingcoiner]

As far as new accounts go, you definitely need to hand in your KYC documents if you want to trade and as far as old accounts are concerned,  you currently are free to trade and withdraw with a daily limit of 0.06 BTC. Not sure about deposit limits though.... I think that will change after October 10th. Everyone will be forced to KYC.

[Oneandpure]

As far as new accounts go, you definitely need to hand in your KYC documents if you want to trade and as far as old accounts are concerned,  you currently are free to trade and withdraw with a daily limit of 0.06 BTC. Not sure about deposit limits though.... I think that will change after October 10th. Everyone will be forced to KYC.

How come I was still able to buy in Spot Trading when I have my name labeled as unverified yet? I only have Binance because that's where I send my SLP to and convert it in there, I don't think that you will be forced to, they don't even notify you to get verified so I don't think that they're forcing people.

He was wrong, without KYC available to trade and can withdraw just have limit under 2 btc can withdraw, why he gave fake news about binance need to KYC, I use for long time without KYC can trade and sell coin there, withdraw limit under 2 btc every day but if you pass KYC with upload document and take selfie you can increase withdraw limit above 100 btc on every day.

[RokokGudangGaram]

I think you can trade without KYC but I think they also have new terms and condition on where you will need to do KYC before you can withdraw your funds out their website but depositing and trading doesn't require your to pass KYC so I think you can trade without it but still I recommend you should pass KYC not just because it is required but for the safety of your account.

[DarkDays]

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.

Yes, the recent crack down on Binance by local governments has really been felt by many users. Decentralized trading (on these large exchanges) is far from what before used to be the norm.

Today, you need to KYC directly to even open an account unlike before where users had the choice. Unfortunately, it is a slow-balling change that I think will become more and more apparent day by day.

[goldkingcoiner]

As far as new accounts go, you definitely need to hand in your KYC documents if you want to trade and as far as old accounts are concerned,  you currently are free to trade and withdraw with a daily limit of 0.06 BTC. Not sure about deposit limits though.... I think that will change after October 10th. Everyone will be forced to KYC.

How come I was still able to buy in Spot Trading when I have my name labeled as unverified yet? I only have Binance because that's where I send my SLP to and convert it in there, I don't think that you will be forced to, they don't even notify you to get verified so I don't think that they're forcing people.

He was wrong, without KYC available to trade and can withdraw just have limit under 2 btc can withdraw, why he gave fake news about binance need to KYC, I use for long time without KYC can trade and sell coin there, withdraw limit under 2 btc every day but if you pass KYC with upload document and take selfie you can increase withdraw limit above 100 btc on every day.

I might be wrong and binance may have not yet set into motion all the regulations that they announced. I was just reporting what Binance announced to their userbase. Just because they haven't yet set things into motion doesn't mean things will stay as they are...

[livingfree]

I think you can trade without KYC but I think they also have new terms and condition on where you will need to do KYC before you can withdraw your funds out their website but depositing and trading doesn't require your to pass KYC so I think you can trade without it but still I recommend you should pass KYC not just because it is required but for the safety of your account.

It is possible to trade without KYC before the announcement.

But now, everyone has to submit their KYC for you to keep trading there. If you don't then you're only allowed to withdraw your funds.

That's their new policy.

[lalabotax]

Yes, this is a new regulation on Binance. Moreover, if we are new to registration, we must do and verify the KYC process. If we are old members, we also need to verify KYC because if not, we can only do withdraw.
It is new for Binance and many people don't agree with this. But rule must be obeyed and we cannot doa anything if we want to still use Binance services.
See the official Binance announcement.

[Mahanton]

I think you can trade without KYC but I think they also have new terms and condition on where you will need to do KYC before you can withdraw your funds out their website but depositing and trading doesn't require your to pass KYC so I think you can trade without it but still I recommend you should pass KYC not just because it is required but for the safety of your account.

It is possible to trade without KYC before the announcement.

But now, everyone has to submit their KYC for you to keep trading there. If you don't then you're only allowed to withdraw your funds.

That's their new policy.

If you dont like the new policy or towards KYC then you could just simply leave or avoid as simple as that.There are lots of whines and complaints about such changes without even realizing or thinking that we
would really be heading on this situation sooner or later because government isnt really that blind and take a look on how big Binance on the current state.They are centralized and its just normal that they would
need to comply or follow up orders that been mandated if they would like to continue their business and no doubt that users would be mainly affected but well we do have our own choice to make.

[sumant]

We make  binance account earlier 2017 when there is no need of kyc. 2BTC of amount was withdrawbale but for more then this you need kyc. Now at present time binance new rules for everyone who is new or old customer must complete kyc. I think this is good rule where money involved and in trading exist. So everyone should follow the rules to make trading easier.