# Binance to block US customers



## Particle Bored (Jun 14, 2019)

Crypto Exchange Binance.com to Block US Customers from Trading - CoinDesk
					

Binance will bar deposits and trading by users in certain jurisdictions and those found to violate the exchange's terms of use.




					www.coindesk.com
				




I'm wondering how diligent they will be... Will they just go by IP or by KYC data. I already did KYC when I signed up early last year. If it's just IP then no biggie, but who knows. I'm pretty sure I did KYC and can still use one or two other exchanges that claim they cant serve the US.

Also, what coins will we be able to transfer to their new upcoming US exchange? Maybe the block won't matter if we can just move everything over.

And of course: BNB... to dump or not to dump?

Guess we just have to wait for more details.


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## Kazami Yuuka (Jun 14, 2019)

Not a big deal, there is virtually zero exchange loyalty anyway.
Anybody with a brain only uses Binance for purchases only, and at the very least, sends their coins to a strictly crypto-crypto exchange (that can flout AML/KYC more easily).


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## Particle Bored (Jun 14, 2019)

Kazami Yuuka said:


> Not a big deal, there is virtually zero exchange loyalty anyway.
> Anybody with a brain only uses Binance for purchases only, and at the very least, sends their coins to a strictly crypto-crypto exchange (that can flout AML/KYC more easily).


Recommendations? I've personally never bought on Binance (I assume you mean fiat to crypto), but def do most of my trading there. I don't think they even had a fiat buying option when I signed up.


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## eldri (Jun 14, 2019)

Is there a more detailed reason why they are doing this? Is it for political or moral reasons?

This article suggests this:


> The caution could be connected to the SEC charging the founder of decentralized exchange EtherDelta with operating an unregistered securities exchange in November.


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## Particle Bored (Jun 14, 2019)

eldri said:


> Is there a more detailed reason why they are doing this? Is it for political or moral reasons?
> 
> This article suggests this:


I'm sure it's for legal reasons. There are a number of exchanges that ostensibly say they can't provide services to US customers (and various other countries) (eg, I believe BitMEX prevents US users from margin trading). I'm not well enough versed to know the legal framework.


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## CrunkLord420 (Jun 14, 2019)

Binance is probably blocking US customers since they don't KYC. It's probably just an IP block, just like BitMEX or Deribit.


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## Rei is shit (Jun 14, 2019)

great my funds are safu from the american menance


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## Rand /pol/ (Jun 14, 2019)

Why is the monopoly money subforum still up? Null usually cucks out and deletes failed subforums that don't get any attention like Shots Fired.


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## AF 802 (Jun 14, 2019)

Funds are super safu now. Americans can't do anything with them now.


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## Kazami Yuuka (Jun 14, 2019)

Particle Bored said:


> Recommendations? I've personally never bought on Binance (I assume you mean fiat to crypto), but def do most of my trading there. I don't think they even had a fiat buying option when I signed up.


If you have BNB, use that up to transfer your holdings to another exchange, since Binance will do 50% off txs if you opt to pay it in BNB. Preferably one that doesn't have fiat to crypto.



eldri said:


> Is there a more detailed reason why they are doing this? Is it for political or moral reasons?
> 
> This article suggests this:


My personal theory I thought of is they want to make sure everything is "clean". Since they are going to be launching a US service (according to some), they are going to do their best to avoid FinCEN and other spooks. The easiest way to do that is to disallow the transfer of crypto into the exchange, making it a purchase and transfer out only exchange. This way, all of the bitcoin in the exchange is "clean". They'll probably drop support for any "privacycoins" or any coin that doesn't have a fully public ledger. From there, they will continue doing the industry standard of monitoring your transactions up to three hops. If you send it to another exchange, they probably won't care. But any gambling or mixers, and they'll be on you pretty quick. Same with known suspicious wallet addresses (e.g. anything posted on darknet vendors).


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## mindlessobserver (Jun 16, 2019)

I dont follow bitcoin but every time I see you guys talk about Binance I see this thread as I scroll by and think of Spurdo. Get a chuckle every time.


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## ОТСТАЛАЯ ПИЗДА (Jun 16, 2019)

CrunkLord420 said:


> Binance is probably blocking US customers since they don't KYC. It's probably just an IP block, just like BitMEX or Deribit.


Do you think it will still be usable by VPN?


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## CrunkLord420 (Jun 16, 2019)

That's what US-based BitMEX and Deribit traders do. Though on BitMEX they actually permanently flag your account with a huge ass red warning message if you log in via a US IP ever. They used to only block initial registration IP and didn't care about general login IP.

They also reserve the right to liquidate all your positions if they catch you, I haven't heard of them withhold any funds though. Binance is a spot market so if they catch you, be prepared to have to withdraw your ultra-shitcoins to wallets that barely work.


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## KevinMcCabe (Aug 29, 2019)

Already been blocked there. Any alternatives you would suggest?


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## Particle Bored (Aug 30, 2019)

KevinMcCabe said:


> Already been blocked there. Any alternatives you would suggest?


Kucoin ain't bad.


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## WhoIsSutterKane (Aug 30, 2019)

Syndrome of a Down said:


> Do you think it will still be usable by VPN?


I always login from a Japanese VPN server and haven't had any issues trading.


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## Begemot (Aug 30, 2019)

Particle Bored said:


> Kucoin ain't bad.


You got some kucoin shares, brother?


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## Particle Bored (Sep 1, 2019)

chekovia said:


> You got some kucoin shares, brother?


Nah. (have I made this suggestion before? wouldn't surprise me) Don't even have any KuCoin (or whatever they call their Binance Coin alternative). It's just the most user-friendly one I've seen of the few I've used, and where I'll probably be moving any alts I don't liquidate in the next week.. Huobi is okay as well, but I don't think they're as reputable.


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## Begemot (Sep 2, 2019)

Particle Bored said:


> Nah. (have I made this suggestion before? wouldn't surprise me) Don't even have any KuCoin (or whatever they call their Binance Coin alternative). It's just the most user-friendly one I've seen of the few I've used, and where I'll probably be moving any alts I don't liquidate in the next week.. Huobi is okay as well, but I don't think they're as reputable.


I like the soft staking option for other coins like NRG & TRX. It's pretty user-friendly so far.


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## Particle Bored (Sep 2, 2019)

chekovia said:


> I like the soft staking option for other coins like NRG & TRX. It's pretty user-friendly so far.


I just finished transferring what I could. Looks like I'll be scraping some staking pennies off my TRX and NULS.

I'm not too happy with Huobi.Pro at the moment. Apparently theyve blocked trading and deposits for US customers as well, and Ive got $40 worth of BTC I cant get off because its below minimum withdrawal limits. They do have a new exchange for US customers at huobi.com.

Edit: I emailed Huobi, and they said they will trade my leftovers to Tether. Looks like all such conversions will take place Sept 10.


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## Begemot (Sep 2, 2019)

Particle Bored said:


> I just finished transferring what I could. Looks like I'll be scraping some staking pennies off my TRX and NULS.
> 
> I'm not too happy with Huobi.Pro at the moment. Apparently theyve blocked trading and deposits for US customers as well, and Ive got $40 worth of BTC I cant get off because its below minimum withdrawal limits. They do have a new exchange for US customers at huobi.com.


I think there are some incentives with trading fees if you possess a certain amount of a KCS I'm a crypto minnow so it's never come up. Just HODLing and waiting for Power Ledger to moon after getting real world applications set up


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