Binance unverified account

[hugeblack]

Update: Today I deposited $10 into my account, I clicked on deposit button and got a USDT-TRC20 address, I sent the money, the balance was updated and I withdrew my balance.

But what I noticed after that is that, they asks me to verify my identity when I requested a new deposit, and I get that address when ignoring KYC message and refresh that page but there is no problem with the withdrawal.

So I can say that I can still use all (almost) features using an unverified Binance account (creation date --> 2019) but the deposit feature is blocked (and sometimes works) after I made my first deposit.

The IP address I used to create my account was a UK IP address.

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[dkbit98]

So I can say that I can still use all (almost) features using an unverified Binance account (creation date --> 2019) but the deposit feature is blocked (and sometimes works) after I made my first deposit.

What do you mean when you say that deposit coins sometimes works?
It works only until they detect that you don't have verified account, and after that you can't deposit anything anymore.
I know one easy way you can mitigate this with Binance by using other clone exchanges that are using Binance cloud, and everything works perfectly fine without verification.
However, theer is always a risk using centralized exchanges so I am not going to recommend anyone doing this with large amount of coins.

[OmegaStarScream]

I know one easy way you can mitigate this with Binance by using other clone exchanges that are using Binance cloud, and everything works perfectly fine without verification.

Any names that come to mind? I believe Mandala exchange used that but it did have some restrictions. I'm not even sure if they're still running since their CMC page is longer reporting anything.

[dkbit98]

Any names that come to mind? I believe Mandala exchange used that but it did have some restrictions. I'm not even sure if they're still running since their CMC page is longer reporting anything.

They still exist and they are active in twitter and other social media, but I can't find them listed in Coingecko website also, maybe because it's just cloned binance volume.
I can still find their mandala token but markets are showing only listing on uniswap exchange, and CMC is reporting this exchange as Untracked Listing.
Checking their Blog page and it is active posting new partnerships and news, but like I said before... I am not recommending anyone to use this exchange.

[hugeblack]

What do you mean when you say that deposit coins sometimes works?

When you click on the deposit button you cannot see the deposit address, as it is obscured by "Please verify identity".

Overall, yesterday I took an extra risk and sent $500 to my old USDT TRC20 address that was given to me earlier.
I was able to deposit, exchange, and withdraw up to 4k BUSD.

Therefore, even if the deposit option is not activated, you can send the coins to the deposit addresses, which you will find in the “Deposit History^[1]”

[1] How to Show My Deposit History within 6 Months



Overall, there is no need to risk and it is better to avoid Binance but I wanted to prove that you can still use your unverified account.

[dkbit98]

Therefore, even if the deposit option is not activated, you can send the coins to the deposit addresses, which you will find in the “Deposit History^[1]”

Interesting find and I understand how it could work now.
That means you can deposit coins only to previously used addresses for coins you used before, and you can't generate new address or use any new coins.
I think this is clearly done on purpose by Binance exchange, and most people believed their warnings to verify or quit using their exchange.
Thanks for taking a risk and testing this for all of us.

[pooya87]

~I was surprised that I can still trade~

You got my hopes up for nothing .
I had some coins there that I was too lazy to pull out, after seeing this post I went there and was disappointed that I could not place any orders anywhere (Convert, Classic, Advanced,...) as soon as I click sell/buy the pop up comes up demanding verification.

I did withdraw my bitcoins and the limit was 160k which I believe has something to do with the "silly" verification they used to have. I forgot the name but I remember there were 3 stages, first was fully unverified where they only had your email, second was you just giving them your name and address (could be fake ) and the third was submitting documents and whole KYC thing. I did the second step before they changed their rules so it is possible that limit is higher because of that.

P.S. Any other KYC-free centralized exchange you guys would suggest?

[logfiles]

P.S. Any other KYC-free centralized exchange you guys would suggest?

Kucoin and Okex don't seem to be so strict with KYC verification as of now, unlike exchanges like Binance or Bitmex that have. I have ever used an unverified Kucoin account to transact and all went smoothly

[virasog]

I also have an unverified account on binance. I just logged in to my account to see if I have the same withdrawal limit.
As shown in the following image, the withdrawal limit for me is 2000 BUSD. Of course, I wouldn't trust what displayed there and I would never make any deposit.

No, not as far as I know. IIRC, when you try to make a deposit with an unverified account, they'll tell you to verify your identity first and won't even give you an address to deposit to. Maybe you can try doing that.

My account is unverified, but they show me the deposit address.

I do not have unverified binance account but it would need only an email to make an account. Don't need it because i already have a KYC verified one.

My question to you is that why would you not trust the binance unverified account. You will only be able to withdraw 2000$ worth of crypto per day and few others restrictions like no P2P trading but this does not mean that you can't use binance account at all.

[hosseinimr93]

My question to you is that why would you not trust the binance unverified account.

I won't make any deposit, because I'm not sure I will be able to make withdrawal without verifying my identity.
I remember they officially announced that KYC is mandatory for all users. So, even if it's shown that I have a withdrawal limit of 2000 dollars per day, it's still possible that they don't process my withdrawal until I verify my identity. They have full control over users fund and can do anything they want.

[JeromeTash]

My question to you is that why would you not trust the binance unverified account. You will only be able to withdraw 2000$ worth of crypto per day and few others restrictions like no P2P trading but this does not mean that you can't use binance account at all.

As per the last announcement, all people using Binance must be fully verified. You being able to use an unverified account and even make deposits plus withdrawals means someone is either not doing their job well at binance or they are still lax on KYC requirements as of now.

They could wake up one day and block all unverified accounts. You don't want to be one of those people with a blocked account yet you hate KYC.

[ololajulo]

I can only say that I received an e-mail a long time ago informing me that I cannot make deposits and trade without KYC, and that I have a withdraw limit of 0.05 BTC or something similar. After that, it does not occur to me to test whether these are the correct conditions, or whether there are still some holes in the system.

Given how their business has been in recent years, I am not surprised that they have failed to harmonize a level playing field for all users - or perhaps they are adjusting the terms in line with crypto regulations in some countries?

I just checked and I have the same withdrawal limit as @hosseinimr93.

Withdrawal can still be possible for token retained in the account beyond the period of warning  but trade may not be allowed. The withdrawal limit is just a deception and if wallet cant be accessed how can deposit be processed?