can i use binance without kyc

To utilize Binance without completing KYC, restrictions apply, limiting withdrawals to 2 BTC daily, excluding users from futures and margin trading, and potentially increasing trading fees.

Nov 01, 2024 at 04:59 am

Can You Use Binance Without KYC?

Yes, you can use Binance without KYC, but with limitations.

What is KYC?

KYC (Know Your Customer) is a verification process that exchanges and financial institutions use to verify the identities of their customers. This helps prevent money laundering and fraud.

Binance KYC Requirements

Binance requires KYC verification for users who:

1. Withdraw more than 2 BTC daily
2. Trade futures or margin
3. Use certain cryptocurrency services like P2P trading

How to Use Binance Without KYC

To use Binance without KYC, simply:

1. Create a Binance account. You can do this by providing your email address or mobile phone number.
2. Deposit funds into your account. You can do this using a credit/debit card, bank transfer, or cryptocurrency.
3. Trade cryptocurrencies. You can trade a wide variety of cryptocurrencies on Binance, including Bitcoin, Ethereum, and Dogecoin.

Limitations of Using Binance Without KYC

There are some limitations to using Binance without KYC:

• You can only withdraw a maximum of 2 BTC daily.
• You cannot trade futures or margin.
• You may have to pay higher trading fees.
• Your account may be suspended or closed if Binance detects suspicious activity.

Overall

Using Binance without KYC is possible, but it comes with some limitations. If you need to withdraw more than 2 BTC daily or trade futures or margin, you will need to complete KYC verification.