Does Binance need kyc to do any trading?

[otundebis]

Binance is facing regulatory compliance in many jurisdiction accross Europe,  America and UK! This has forced Binance to insist on basic verification of which it has been changed to intermediate verification. If you intend to trade on binance,  you must be prepared to kyc otherwise,  you will not be able to deposit let alone trade!

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[Questat]

No need for KYC you can easily trade with Binance I think you can also deposit and withdraw without KYC but unlike before the withdrawal limit is not limited but still you can trade and withdraw without KYC unlike other exchange that will hold your money unless you send KYC and you will be forced to submit KYC.

I think at the moment you only need to verify yourself through taking a picture while your are in used for the platform.
But no need to submit any documents or it could be depend as well to you if you do like to submit your passport
or drivers license. Maybe for some other exchange they require it for sure. Where they will hold your assets while
your not submitting it completely something like that.

pretty annoying to see binance doing this to us.

they might let us to access some features there but for full feature access such as doing p2p trade in the platform you will require to submit kyc otherwise binance will limit access to some of their main feature which is withdrawal wont be allowed. annoying. chinese exchange as well shutting down.. but guess what.. the market responded it in weird way, the coins pumped up to the sky... should we worry about this and consider the current bullish situation as a fake one? well...

Maybe it was but I believe they have the purpose of asking to complete the KYC and it was to add security features in all individuals who use their platform. I know we don't want that to happen nor to comply with it but if we are often using Binance exchange will have no choice but to follow their rules. Well, I don't see any problem with that since we know that Binance is a reputed exchanger and no worries that our personal identities will be used to illegal activities.

[smartaction]

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!

Before in Binance many big trades, deposits big amount and withdraw  could be done without kyc. But they have been making new laws for quite some days now you must have to pass KYC for withdrawal big amount  crypto and fiat

[tvplus006]

I bought some coins from them a while back and withdrew them and then they started asking for KYC.

After which I stopped going there as I don't want to upload my documents and selfie because I am sure they're going to sell it and call it a theft.

So, in my experience, Binance does asks for KYC.

If you do not use additional services provided by Binance, then you can easily switch to another exchange, where verification is not mandatory. I have already passed KYC on the exchange for a long time, since I needed to withdraw cryptocurrency to the card, as well as participate in launchpads and launchpools.

[Cornia]

It is now mandatory to submit kyc in Binance. If Kyc is not done, you will not be able to trade in binance. Only you can withdraw your crypto. For trading you have to pass at least Intermediate verification.

[so98nn]

On an average you a person is very good to go for 0.06 btc per day. There is no way normal person will trade more than that money so we just need to be calm down handle the situation appropriately. I mean if you feel that you gonna end up in situation where you will need to withdraw more than 0.06 btc then boom, you will have to do full KYC. I got so many notifications everyday regarding this, but I have just done the basic KYC and never looked back to binance after that. I have good amount of USDT and RVN on the binance but I never got the feeling that I should be confirming my full KYC because I don’t trade that much.  
So just relax and do it only if you think you gonna need it ahead.

[Oneandpure]

No need for KYC you can easily trade with Binance I think you can also deposit and withdraw without KYC but unlike before the withdrawal limit is not limited but still you can trade and withdraw without KYC unlike other exchange that will hold your money unless you send KYC and you will be forced to submit KYC.

I think last months available for trading and withdrawing in binance with limit under 2 btc every day but now you need to pass KYC for trading, but still ability to withdraw coin under 2 btc price without KYC. Maybe just few exchange now without KYC and can trade or withdraw like Hotbit, Kucoin and Dex exchange market but less safety because just connect with trust wallet or using metamask.

[Fredomago]

On an average you a person is very good to go for 0.06 btc per day. There is no way normal person will trade more than that money so we just need to be calm down handle the situation appropriately. I mean if you feel that you gonna end up in situation where you will need to withdraw more than 0.06 btc then boom, you will have to do full KYC. I got so many notifications everyday regarding this, but I have just done the basic KYC and never looked back to binance after that. I have good amount of USDT and RVN on the binance but I never got the feeling that I should be confirming my full KYC because I don’t trade that much.  
So just relax and do it only if you think you gonna need it ahead.

If you are not exceeding to that limit you are good to go and continue using binance for just having the basic, it depends to each case as there are people who deal with trading that in need of much higher limits, those traders don't have any other option if they need to use this platform, otherwise, they need to switch to other exchange that will not require them to pass KYC.

Binance needs to comply with the government rules. They are being subjected so like us they also don't have any other option but to require every trader who uses the service to continue good relations with the government and kept their permits to operate.

[Victorycoin]

Binance is a good site for transactions and we like to be hassle free and fast as we still adhere strictly to all the security protocols of binance exchange here our trading desk respects privacy so kyc is not required each user and each block trade is unique for the transaction, can trade as they wish. Binance has sufficient investment knowledge and experience and the ability to bear the risks associated with P2P transactions and you agree to bear all the risks arising out of being involved in P2P transactions individually.

[tazmantasik]

You need KYC right now if begin trading with Binance, new rule update last month where all member can't trade on Binance without KYC, but easy and take faster time for KYC processing. you only need few minutes with KYC but should upload with good and quality picture of your document and take good position when take your face picture. But still can withdraw if not pass KYC because only trading need and have to KYC for withdraw still able but less 2 btc every day.

[teosanru]

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!

Binance has changed their rules, they now have made it mandatory for everyone to complete their respective KYCs otherwise the accounts of the people will be restricted.  Earlier this restriction applied only on the withdrawals but now they are even restricting trading in a non kyc account which means every account will have to complete their kyc. They are citing regulatory concerns for this and I think somehow they are justified too because the number of governments filing cases against Binance regarding money laundering is increasing day by day they need to keep themselves safe in order to survive in the long term.

[Cadaver20]

Without being verified one can only withdraw his / her assets.  The process of kyc of binance is very easy. Whenever you submit your kyc, you will be intermediate verified and you can deposit, trade everything in Binance.

[TheGreatPython]

Binance is a good site for transactions and we like to be hassle free and fast as we still adhere strictly to all the security protocols of binance exchange here our trading desk respects privacy so kyc is not required each user and each block trade is unique for the transaction, can trade as they wish. Binance has sufficient investment knowledge and experience and the ability to bear the risks associated with P2P transactions and you agree to bear all the risks arising out of being involved in P2P transactions individually.

I believe that there is a good reason why Binance is doing KYC which is basically going full on exchange with credentials in the nations that doesn't accept them and that is where they will need this KYC part as well. You have connection from binance.us to binance.com as well so basically you are doing something that you should not be doing if you are an exchange with that where you are leaving a tunnel left that would be basically just something that could help people who carry money to another nation or something.

As long as you have that KYC going on then you are not going to have too many people stealing money and moving it out of nation or you won't have the money laundering as well. There are too many bad people that would use it and KYC will stop that and it would help the governments to get those people and that is why KYC is very important for binance to get more legit.

[osasshem]

Binance is a very good platform to trade on, though, for the Binance.us I don't know neither do I use that platform cause they might have some slight change in their rules. I think it is okay to have a verified KYC with the trading exchange of your choice, except you don't have the necessary documents to complete the verification process. Outside that, I don't see any reason why one shouldn't verify his account in any platform of trading. The mode of verification on binance exchange is simple and easy to pass with immediate response if the process is/was successful and accepted.

[tazmantasik]

Binance is a very good platform to trade on, though, for the Binance.us I don't know neither do I use that platform cause they might have some slight change in their rules. I think it is okay to have a verified KYC with the trading exchange of your choice, except you don't have the necessary documents to complete the verification process. Outside that, I don't see any reason why one shouldn't verify his account in any platform of trading. The mode of verification on binance exchange is simple and easy to pass with immediate response if the process is/was successful and accepted.

Trough Binance need KYC right now because an effect when China banned cryptocurrency and many exchange list, now they give feedback respond when Binance should KYC for every member when trading there, Binance have not allowed people from China to use Binance and I think when KYC procedure adopt there are not any chance for China to use Binance any more, for later not any impact again if China make new announcement and give bad news about bitcoin or altcoin because almost exchange have banned user from China.

[ItsCrafty]

No, it was before the situation, now it has completely changed, you need KYC for deposit of money and somehow it needs to withdraw the amount. So, it would better for the people to verify for the security and safeness of their money and trading account, I don't even think it has now the same as before, its security is tough now.

[shawonngp]

Binance is a very good exchange site for trading. It is easy to trade here. You can verify. It's very simple. When you submit kyc, it becomes verified. So think of a simple tie.Binance security is very tight..

[Fredomago]

No, it was before the situation, now it has completely changed, you need KYC for deposit of money and somehow it needs to withdraw the amount. So, it would better for the people to verify for the security and safeness of their money and trading account, I don't even think it has now the same as before, its security is tough now.

More on government policies which Binance can't be avoided to implement to secure the future of their business, unlike before where you can enjoy 2btc unverified account, Now, in order to use the service you need to have an intermediate verified account and if you want to increase your trading volume, you need to move up and process the remaining requirements.

Binance is a very good exchange site for trading. It is easy to trade here. You can verify. It's very simple. When you submit kyc, it becomes verified. So think of a simple tie.Binance security is very tight..

If you trust the site, there's no problem completing the verification and enjoy all the benefits as end users. More on your personal appreciation with this exchange and how good you are in dealing with KYC.

[Victorycoin]

Binance is a very good exchange site for trading. It is easy to trade here. You can verify. It's very simple. When you submit kyc, it becomes verified. So think of a simple tie.Binance security is very tight..

Absolutely I think binance is much more trusted than other trading platforms but many will not be interested in using binance after they turn on verification if binance does not move away from the mandatory kyc decision for everyone, many people will stop using binance excluding the use of binance will reduce the number of subscribers of binance in general. My personal opinion is that binance may deviate from their decision at any time they are thinking of the customer and maybe they are taking this kind of step kyc would have canceled it later.

[MIner1448]

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!

It is true that you will not be able to trade on large amounts without KYC, and withdrawal of funds will be impossible if you do not pass verification, this is of course a minus of this exchange, there you must provide a full package of documents in order to pass this check, otherwise you will not be able to normally trade and withdraw funds from there.