Binance Limits Services to Russian Users

[yohananaomi]

That Binance's decision to gradually close the door for Russian users does seem unfair. But at the same time, it is not so critical as many Russian users have just moved to other popular and more loyal exchanges such as Bybit, MEXC, OKX, and HTX. So it turns out that Binance has harmed itself by giving some of its audience to competitors.

However, Russian users are also one of the things that have made Binance possible until now.
If Binance makes a decision that will gradually close its doors to Russian users, it would be very unfortunate, because that is not a solution and could result in antipathy from Russian users.
Binance will feel that because there are many alternatives that can be used and could be a replacement for Binance. Haven't his thought about that? Remember, Russia is one of the biggest users, and it will certainly have an impact in the future.

[dwyane36]

However, Russian users are also one of the things that have made Binance possible until now.
If Binance makes a decision that will gradually close its doors to Russian users, it would be very unfortunate, because that is not a solution and could result in antipathy from Russian users.
Binance will feel that because there are many alternatives that can be used and could be a replacement for Binance. Haven't his thought about that? Remember, Russia is one of the biggest users, and it will certainly have an impact in the future.

I don't know exactly how many percent of the total Binance audience were Russian users, but I'm guessing around 7-10 percent, which is a pretty significant loss of traffic for the exchange. Anyway, the Binance management most likely weighed all the pros and cons of that decision, and that is why they decided to get rid of Russian users gradually (within a year) instead of immediately.

[yohananaomi]

However, Russian users are also one of the things that have made Binance possible until now.
If Binance makes a decision that will gradually close its doors to Russian users, it would be very unfortunate, because that is not a solution and could result in antipathy from Russian users.
Binance will feel that because there are many alternatives that can be used and could be a replacement for Binance. Haven't his thought about that? Remember, Russia is one of the biggest users, and it will certainly have an impact in the future.

I don't know exactly how many percent of the total Binance audience were Russian users, but I'm guessing around 7-10 percent, which is a pretty significant loss of traffic for the exchange. Anyway, the Binance management most likely weighed all the pros and cons of that decision, and that is why they decided to get rid of Russian users gradually (within a year) instead of immediately.

but I am sure that Binance management will still think about users from Russia, with a large number, which will certainly influence sooner or later every transaction that is lost and moved to another place.
That's right, it is certain that there will be pros and cons within the management itself, not to mention pressure from the community that cares about this issue. Hopefully there is a solution and it can be resolved in the best way possible before they can look for other alternatives.


*] War always has an impact on everything.

[TopT3ns]

I don't know exactly how many percent of the total Binance audience were Russian users, but I'm guessing around 7-10 percent, which is a pretty significant loss of traffic for the exchange. Anyway, the Binance management most likely weighed all the pros and cons of that decision, and that is why they decided to get rid of Russian users gradually (within a year) instead of immediately.

Binance is a fairly large exchange, and you, as an ordinary person, will not know how many users are from Russia because this is very sensitive data, and this data is only known by the developers of the Binance exchange and the CEO of Binance. In general, all countries can use the Binance exchange, so it is impossible that users from Russia are only 7–10 percent.

[Freemind]

Someone has wondered why Binance has not imposed limitations on Israeli citizens like it did with Russian citizens?. The answer to that question is the name of a country, the United States. The Biden administration, as is usual in the United States, cannot stand Putin for several reasons as recent history has shown during the last decades, which is why Binance has imposed sanctions on Russian citizens, but there are no limitations on the part of Binance towards Israeli citizens.

CZ can't leave the United States unless something has changed, but I doubt it. We just have to connect some points to know why some do suffer from these limitations and others do not. Everything, once again, is politics.

[yohananaomi]

I don't know exactly how many percent of the total Binance audience were Russian users, but I'm guessing around 7-10 percent, which is a pretty significant loss of traffic for the exchange. Anyway, the Binance management most likely weighed all the pros and cons of that decision, and that is why they decided to get rid of Russian users gradually (within a year) instead of immediately.

Binance is a fairly large exchange, and you, as an ordinary person, will not know how many users are from Russia because this is very sensitive data, and this data is only known by the developers of the Binance exchange and the CEO of Binance. In general, all countries can use the Binance exchange, so it is impossible that users from Russia are only 7–10 percent.

It is certainly impossible to determine the correct number of users from Russia, and I am not sure that Binance also knows the details because technological developments will be difficult to detect; perhaps we can only estimate from the KYC report if they are carried out. Because it is difficult, they will also be very careful when doing it. Of course, this is something that is not easy to implement with the consequences being taken into consideration.

[EthereumDev_]

It is certainly impossible to determine the correct number of users from Russia, and I am not sure that Binance also knows the details because technological developments will be difficult to detect; perhaps we can only estimate from the KYC report if they are carried out. Because it is difficult, they will also be very careful when doing it. Of course, this is something that is not easy to implement with the consequences being taken into consideration.

Unfortunately not all exchanges require KYC, only for those who have transactions it may be mandatory to carry out KYC, so far there are still some exchanges that do not really require KYC, the Russians have so far been very careful about providing their identity in a website.

[Freemind]

It is certainly impossible to determine the correct number of users from Russia, and I am not sure that Binance also knows the details because technological developments will be difficult to detect; perhaps we can only estimate from the KYC report if they are carried out. Because it is difficult, they will also be very careful when doing it. Of course, this is something that is not easy to implement with the consequences being taken into consideration.

Binance will most likely do its math and impose its per-IP limitations. Although it is also true that many users will use VPN to connect to Binance, doing KYC with legal documents and connecting to the exchange with another country's IP can cause problems for the user. It all depends on the risk that users want to take, but I personally am not going to send my documents to any site that sooner or later may have security problems. I prefer to continue using DEX and not send my coins/tokens to a centralized site that also "punishes" users from one country for political reasons.

[yohananaomi]

It is certainly impossible to determine the correct number of users from Russia, and I am not sure that Binance also knows the details because technological developments will be difficult to detect; perhaps we can only estimate from the KYC report if they are carried out. Because it is difficult, they will also be very careful when doing it. Of course, this is something that is not easy to implement with the consequences being taken into consideration.

Unfortunately not all exchanges require KYC, only for those who have transactions it may be mandatory to carry out KYC, so far there are still some exchanges that do not really require KYC, the Russians have so far been very careful about providing their identity in a website.

If the Russians were very careful about providing their identity information, it would be difficult to enforce the restrictions imposed by Binance on Russian users.. Even if they detect the IP address, they are also smart and will use VPN to trick them.
So is Binance doing what they want effectively? It's hard to estimate.
But I myself don't like Russian intervention, but also don't like Binance's intervention towards certain citizens for momentary political reasons.

[Google+]

If the Russians were very careful about providing their identity information, it would be difficult to enforce the restrictions imposed by Binance on Russian users.. Even if they detect the IP address, they are also smart and will use VPN to trick them.
So is Binance doing what they want effectively? It's hard to estimate.
But I myself don't like Russian intervention, but also don't like Binance's intervention towards certain citizens for momentary political reasons.

Usually Binance will pay attention to transactions with very large amounts that enter its exchange, but if they make small transactions and use VPN then it still looks normal and not easy to track, Binance does all this because it wants to avoid risks that could cause losses on its platform .

[UNIVERSE]

Someone has wondered why Binance has not imposed limitations on Israeli citizens like it did with Russian citizens?. The answer to that question is the name of a country, the United States. The Biden administration, as is usual in the United States, cannot stand Putin for several reasons as recent history has shown during the last decades, which is why Binance has imposed sanctions on Russian citizens, but there are no limitations on the part of Binance towards Israeli citizens.

CZ can't leave the United States unless something has changed, but I doubt it. We just have to connect some points to know why some do suffer from these limitations and others do not. Everything, once again, is politics.

Exactly, the US's competitor is Russia, we know very well how the relationship between these two countries is in various fields, even in all fields. And, however, the US, is quite a significant influence on Binance, not only on Binance US but also globally. Even though CZ comes from China, right? However, it is due to limitations in operating it in the country and is even restricted. But indeed, why should it be limited to Russia when if they legalized it it would certainly provide extraordinary profits for Binance, because crypto activists in Russia are really big. Once again, this definitely has something to do with the US, for the security of the exchange platform.

[yohananaomi]

If the Russians were very careful about providing their identity information, it would be difficult to enforce the restrictions imposed by Binance on Russian users.. Even if they detect the IP address, they are also smart and will use VPN to trick them.
So is Binance doing what they want effectively? It's hard to estimate.
But I myself don't like Russian intervention, but also don't like Binance's intervention towards certain citizens for momentary political reasons.

Usually Binance will pay attention to transactions with very large amounts that enter its exchange, but if they make small transactions and use VPN then it still looks normal and not easy to track, Binance does all this because it wants to avoid risks that could cause losses on its platform .

Indeed, if it is a desire, of course they also have to be, consumed doing what they want to do, but obstacles also cannot be avoided. I think you are right.
Of course, there are many ways they can do to avoid tracking the binance to them,
but they also know how to avoid. Maybe for large transactions there will be tighter supervision than small ones. Binance clearly wants to take them seriously about what will be done and there is always a cause and effect on all this.

[TopT3ns]

Indeed, if it is a desire, of course they also have to be, consumed doing what they want to do, but obstacles also cannot be avoided. I think you are right.
Of course, there are many ways they can do to avoid tracking the binance to them,
but they also know how to avoid. Maybe for large transactions there will be tighter supervision than small ones. Binance clearly wants to take them seriously about what will be done and there is always a cause and effect on all this.

If the Binance exchange always makes it difficult for its users to trade on its platform, then these traders who have a lot of money will probably leave the Binance exchange. The policies provided by Binance are indeed very good, but if they are too strict it will not be good for the future because it could reduce users on the Binance exchange.

[Freemind]

Exactly, the US's competitor is Russia, we know very well how the relationship between these two countries is in various fields, even in all fields. And, however, the US, is quite a significant influence on Binance, not only on Binance US but also globally. Even though CZ comes from China, right? However, it is due to limitations in operating it in the country and is even restricted. But indeed, why should it be limited to Russia when if they legalized it it would certainly provide extraordinary profits for Binance, because crypto activists in Russia are really big. Once again, this definitely has something to do with the US, for the security of the exchange platform.

Unfortunately, the United States has influence for better or worse throughout the world, that is undeniable. The reason or reasons why the United States does not act with the same forcefulness as it did with Russia is very clear: geopolitical and economic interests as well as military ones. It's funny how careless they are in doing these things since they don't care about being called hypocrites. Binance is tied hand and foot, they can't do whatever they want, if they do something wrong, among other things, they could be shut down from the exchange and licenses, and even imprisoned. Sad, but true.

[yohananaomi]

Indeed, if it is a desire, of course they also have to be, consumed doing what they want to do, but obstacles also cannot be avoided. I think you are right.
Of course, there are many ways they can do to avoid tracking the binance to them,
but they also know how to avoid. Maybe for large transactions there will be tighter supervision than small ones. Binance clearly wants to take them seriously about what will be done and there is always a cause and effect on all this.

If the Binance exchange always makes it difficult for its users to trade on its platform, then these traders who have a lot of money will probably leave the Binance exchange. The policies provided by Binance are indeed very good, but if they are too strict it will not be good for the future because it could reduce users on the Binance exchange.

Of course, the dilemma that will be faced with Binance. I really agree and really agree with you, that the method used for making things difficult for users will certainly have an impact in the future, because everyone doesn't want what they are doing to get into trouble, not because of a fair policy.
Even though they may be right in saying that this policy can be said to be very good, they must also think about the impact it will have on other users, because they may not be comfortable with this treatment.