You WILL lose money unless you use regular Binance
There’s basically no trading volume on Binance US. They also shut of trading for hours during crashes with no text or alert so you can’t sell. The trading volume is so low, sometimes I have to buy $200 above market value and sell $200 below in order to get very small orders filled. Then when you address the issues asking for it to be fixed, they get attitude with you and block you. If you can’t find a way to use the original Binance, move exchanges. Until we refuse to use Binance US, these problems will persist. Oh also there’s hardly any market on the US version. They also report everything to the IRS, so even if you lose, you will have to spend days or pay hundreds to file each trade with the IRS which is sometimes 1000s. Binance US should be banned from the US. Since I was made to switch to to here by the idiots, all they’ve done is made me lose money. Use any exchange besides Binance US
Update: I just had my limit orders for a bitcoin each skipped over 4 times. 1 2 3 4 TIMES! There wasn’t enough volume to fill my trades so Binance decided to just skip them, and then they have the nerve to ask for trading fees still when I had to buy $1500 higher than market value losing money and bitcoin. WARNING: NOTHING HAS CHANGED AND THEY DON’T ANSWER SUPPORT TICKETS. MY FRIEND HAS HAD $140,000 OF FUNDS FROZEN ON HERE AND NO ONE WILL ANSWER HIS SUPPORT TICKET EITHER. THEY ARE THIEVES AND WILL TAKE YOUR MONEY.
They won’t verify you so don’t even bother trying
Not only did they screw over my brother by selling off his cryptocurrency when he put his money into dogecoin causing him to loose thousands of dollars they also locked my account and won’t verify me, do not use this app unless you enjoy having a huge headache and unnecessary stress that will cause your hair to fall out early, Verification takes an eon to go through and that’s not even guaranteed that you will even get accepted, if they decide the information you send them isn’t sufficient then you will have to go through it again and keep in mind sometimes the waiting process to get verified takes months and they use a third party source to verify you so you don’t know who sees your sensitive information that you provide them such as your social security. Honestly I’m not even surprised that they have 11 major lawsuits currently going on and I honestly recommend you try a different exchange such as KuCoin or bittrex or even kraken because this exchange is the worst and I highly recommend you stay off it unless you like getting screwed over.
P.S. the only way to reach support is through email and when you send an email don’t be expecting to get a response back from their support team, I sent an email a few months ago and still haven’t heard back from them.
I’ve found customer support to be very unhelpful. I signed up for ACH thru Plaid and Biance in its own publication said daily limit for deposits by ACH when signing up through Plaid was $5000. I did it correctly but Biance would only let me deposit $1000 per day. CS initially responded for me to delete the ACH and manually redo it, which I did not because manually doing it does limit to $1000. After about 20 hours of back in forth with CS they finally told me that I was limited to $1000 by Plaid because my Biance account used legal first name, middle initial and last name and my bank account name is first initial, middle name, and last name. There is no problem for $1000 transfers. My gosh they have a copy of my drivers license, a face selfie to match with the DL picture, my social security number, my bank Id and password to my mobile account. You would think they should be able to do something about this, but they have no interest or suggestions except to use wire transfers which of course my bank charges for. They of course do not phone contact for real communication when their CS people just can’t understand what u are talking about. Otherwise I found the entire interface easy and intuitive. Opening my account with my iPhone was so simple and easy and took very little time even going thru the three verification levels.
Overly complicated and doesn’t operate properly
A few issues starting with the wallet overview. Why wouldn’t you let us see the charts there. Why would you make us navigate to an entirely different area of the app to view charts for your wallet. Then when you’re looking at the charts, you cannot see any data about your wallet. The app only lets you see the last 10 transactions though it has an option for the past 3 months you only get to see the last 10. The app makes it extremely difficult to find out how much you’ve invested and how much return you are seeing. Upon moving to the computer to attempt to see all my transactions, it takes you through a two step verification process. Upon completion of that you are redirected to the home screen again and are still un able to logon. It will try to do the 2 step authentication again but says unable to send sms the second time. Screw this app. One last thing. When making ACH deposits it says you won’t be able to withdraw the funds for 10 days to prevent charge backs. So I switched to making debit deposits (which cost a fee) because they dont warn of that. Though they should because you won’t be able to withdraw that either. And who knows for how long if ever.
Just another Robinhood
I’ve been using Binance with zero problems for several months now. The only thing I’ve invested in in Dogecoin. Suddenly Dogecoin starts to skyrocket, and now I can’t do anything. Can’t deposit, can’t withdrawal, can’t buy, can’t sell. For the last two days, I’ve tried numerous times and have submitted tickets. The first email told me that it was a problem on my end, and that my bank was reporting insufficient funds. I called my bank, and they said that Binance was the one rejecting my deposits. The next email said that I needed to delete and re-enter my banking info. I did that, and nothing was resolved. Then I get an email telling me that I need to submit a new ticket with a pdf of my most recent bank statement, and a video selfie of myself holding my ID and reading a portion of the email out loud on the video. I tried to do that, and the video was too large. They said upload it to Dropbox first and everything should work. Did that. Still too large to upload. Made a new video with the lowest possible resolution. Tried uploading that. Still too large to upload. Everyone was complaining about Robinhood being shady when the GameStop thing was taking off, and Binance is no different. Doge took off, and they’re just as shady.
Great app, verification is a nightmare
Let me preface this by saying that I actually love using this app and it’s the best exchange in my opinion, HOWEVER, the big issue I have with Binance is that I’ve had this since December 2020 and I’m STILL NOT VERIFIED! It’s currently May 2021! Ive passed the Id verification but continue to get rejected over and over on the adress verification. I’ve sent so many documents their way; electric Bill, cable Bill, my closing disclosure on my home, my title contract, bank statements; yet I STILL can’t get verified. I live in Tennessee so it’s not a state with restrictions. I’ve contacted support multiple times and have not gotten one response. I’ve reached out through social media - no response. This really stinks because I really recommend it if you can get verified. I was able to trade for a long time without the complete verification and it’s fantastic to use, but now I’m restricted from trading and I’m not allowed to buy or sell any of my coins until I get approval. Technically my coins are stuck. It really stinks that they have a customer that loves their product so much and a person that has made many attempts to get this corrected, only to kicked to the curb and ignored for months.
Very bad App! DO NOT DOWNLOAD!!!!!!!
They are so bad! 0 customers service. You can email them all you want, they will never reply you. They only care about you downloading their app so they can get your money and coins. To transfer your coins out because you can’t even withdraw them willingly is 100% impossible. They asked me to submit my ID, I did then they asked me to submit my Electricity Bill and I did then they said my address on my ID does not correlate with my address on my bill. Am I supposed to continue living in the same place forever? Of course I moved to a different place that’s why my new address is not the same with my ID that was issued 4 years ago but they wouldn’t still approve my verification. Then they asked me to submit my bank statement and I did which shows my new address as the same thing with my utility bill but still they wouldn’t approve my verification. I’ve been emailing them to please let me close my account and transfer my coins out of their App since it’s impossible to do anything on it but they have ignored all my several emails now for over 3 months. Don’t ever download their app! You will regret it!!!
Verification takes years, other reviews are BIG red flags
How could it possibly take so long to verify my address? This app isn’t supported in a way that should inspire any confidence in it’s user base. After reading other reviews here I am glad that the verification process took so long because otherwise I wouldn’t have known how terrible and sketchy the US version is. Should be banned. Do some research. The way this exchange is run will get them thrown in jail at some point and likely loose all your money. The articles and reviews are out there, don’t just take my word for it, do your own research and you will see. Not that it really matters anyway, after you download the app and give them all your personal info they will just restrict you from doing anything for months because of “verification” - I am suspicious that they may be selling user information. If they can’t verify new users in a couple of weeks than what makes me think they can protect the information I sent to them in the first place? I hope an AG in the US takes on these sketchy people. Also, Binance is a stupid name. Byeeee
No support, constant double charges
I pride myself on never leaving reviews for companies unless they’re good and someone earned it.... but this app AND their mobile website are just crap at this point. They input my name wrong on the verification process which has caused nothing but issues. They said to reach out to customer service to get it fixed but that was the first week of January, 2021. Still not response. It’s caused a headache with buying and multiple double charges. There’s never anything to show for it on the binance account either. To my understanding, they’ll liquidate your stuff sometimes too.
My bank knows why I’m calling at this point but to have to sit here and go through claims just to get my money back because binance won’t ever bother to help? I swear no one is actually working in customer service. I’ve genuinely never met any type of financial institution with this much lack of care and support... 0 stars if possible. Meanwhile the CEO won’t even address a single issue. Everything’s all fine and dandy on their end.
Don’t give your info!
If you read these things you’ll find SO MANY people have the same problem and the good reviews seem generic. From what I’ve gathered this is just a scam for you to give up your personal info and once they get all they want (required photo of drivers license, photos of mail, etc) you’re left waiting to get verified. From what I’m reading I don’t think anyone gets verifie, yet all seem get to the same point before we get stuck. And that’s right after supposed “verification” process that requires your personal info. Honestly, I was very excited about this app and I am letdown. And now worried my info is floating around being sold to big tech, probably was anyways. Tho I might be wrong! And if proven wrong I’ll denounce everything I said cuz the idea of this app is incredible! But I don’t think I saw one review In which customer service responded. And everyone having same problem at same point? Seems very fishy. As it stands you’d be better off going to companies with credibility like Coinbase and the like.