Does Binance need kyc to do any trading?

[lixer]

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.

Currently, withdraw is possible without KYC but deposit and trading are not available because I already check my account, and they are allowing for withdraw of my funds without any issue but not allowing me to deposit more funds or having any option in trading because due to some regulations they are forcing all members for this.

Not only Binance now having few other exchanges and sites are also forcing for this KYC because day by day authorities in different countries are forcing for this all as FATF rules are also having some stick check on these for stopping money laundering and finance supply to terrorist groups. Right now, very few P2P sites are available for trading without KYC.

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[passwordnow]

It is true that you will not be able to trade on large amounts without KYC

Even with a small amount, you can't trade if you don't do KYC on binance. They've become strict and they've required everyone to do mandatory KYC.

and withdrawal of funds will be impossible if you do not pass verification

Wrong mate. If you don't do such, no other activity but only withdrawals. So it means that even if you don't comply to KYC, you're still allowed to withdraw but there's no sense on trading there anymore if you're only going for the withdrawals until your funds are dry.

[Wawa2013]

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.

Currently, withdraw is possible without KYC but deposit and trading are not available because I already check my account, and they are allowing for withdraw of my funds without any issue but not allowing me to deposit more funds or having any option in trading because due to some regulations they are forcing all members for this.

Not only Binance now having few other exchanges and sites are also forcing for this KYC because day by day authorities in different countries are forcing for this all as FATF rules are also having some stick check on these for stopping money laundering and finance supply to terrorist groups. Right now, very few P2P sites are available for trading without KYC.

Most of the centralized exchanges enforce KYC procedures, including Binance now can only make withdrawals if not KYC. But I don't mind if I have
to do the KYC procedure, as long as I can trade safely. Maybe for some people who are not comfortable doing KYC procedures can use
decentralized exchanges, or use platforms that provide P2P transactions without KYC. There is still a solution for those who want to trade without
doing KYC procedures, so there is no need to force trading on the Binance exchange. But for me it's ok to do the KYC procedure, because I believe
in Binance's reputation, after all I have been using Binance exchange for trading for a long time and have never had any serious problems.
So if Binance exchange  finally enforces KYC now to be able to trade, it must be related to regulatory issues that Binance must comply with.

[goldkingcoiner]

It seems  that since the first of November 2021, my account is now prohibited from trading. I thought about switching to kucoin but I have also heard of unjust account freezing going on over there. So I think I am just going to withdraw funds from all exchanges, and trade using defi dex's. Although I do not have much experience with trading on DEX's. How are the fees for BSC? Is trading expensive for BSC? Myetherwallet wants to swap at astronomically unfair prices. So each swap I would pay a hundred dollars to trade 20k from busd to bnb for example. There has to be a better way to trade without giving your information to exchanges.

[Tigerheart3026]

It seems  that since the first of November 2021, my account is now prohibited from trading.

i think my binance account restricted so early to you,
7th october i have got email from binance and i'm restricted to only for withdrawals.
although i have been warned a few times to complete intermediate kyc.