Cyprus residence & Binance account

[bab00n]

Hi everyone,

can someone please help me out with these questions: does Binance currently offer their services to Cyprus residents (individual & Limited)? If yes, are there restrictions on derivatives trading or p2p?

I read a lot about Binance withdrawing from their Crypto License application with CySEC in 2023 but get contradicting answers on the practical implications.

Thanks in advance!

 

[forward]

yes they should, cause CY is part of EU as long as you're not in the Northern CY... what's your end goal with Binance and what are the amounts ?

 

[bab00n]

Binance services differ among EU countries. Some EU countries are blocked and for some certain products such as leveraged and derivatives trading are restricted. The goal ist to trade on Binance with in Cyprus after moving there or - for now - finding out if they allow Cyprus residents to register at all. Binance is absolutely awful in providing an overview of countries they actually operate in including the restrictions that apply.

 

[brianK]

If Binance don't work for you, use Kraken, I find kraken better anyway!

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Winners never quit and quitters never win....

 

[forward]

or Bitmex\Derebit if it's a futures\options

 

[Lincoln Burrows]

I've said this before and I'll say it again. To register for an individual account, just use a country of residence that has no trouble with Binance, either in the EU, Africa, South America, or some Islands, etc..
For the Proof of address, just use any statement of an online bank and change the address in the PDF and submit it; If you have no experience with editing PDF files, you may use Wise statements (They used to allow you to change the address in your profile indefinitely, not sure now).

Binance and other exchanges don't enforce geo-restrictions because they assume a large portion of their user base are using VPNs by default, or traveling, etc..

 

[AlicaFunk]

Lincoln Burrows said:
Binance and other exchanges don't enforce geo-restrictions because they assume a large portion of their user base are using VPNs by default, or traveling, etc..
Click to expand...

Thanks for the information, useful and makes Binance to work with easier than Kraken.

 

[dimitriscyprus]

bab00n said:
Hi everyone,

can someone please help me out with these questions: does Binance currently offer their services to Cyprus residents (individual & Limited)? If yes, are there restrictions on derivatives trading or p2p?

I read a lot about Binance withdrawing from their Crypto License application with CySEC in 2023 but get contradicting answers on the practical implications.

Thanks in advance!
Click to expand...

Binance sill has their license according to the regulaors website. From practical experience as of late, futures trading is restricted in Cyprus by Binance, other exchanges ie Bybit still work with futures

 

[OKboomer]

Lincoln Burrows said:
.
For the Proof of address, just use any statement of an online bank and change the address in the PDF and submit it; If you have no experience with editing PDF files, you may use
Click to expand...

Doesn't any modern AI-assisted software immediately spot edited PDFs? You often have barely noticeable differences in font/spacing etc which the machine notices

 

[rss]

OKboomer said:
Doesn't any modern AI-assisted software immediately spot edited PDFs? You often have barely noticeable differences in font/spacing etc which the machine notices
Click to expand...

Perfection requires time and expertise, if you skip details and rush things, you will pay the price later.

 

[bab00n]

Thanks for the info, everyone.

I wanted to use Binance for futures trading because of its liquidity across a wide range of pairs. My intended use was for corporate purposes, not as an individual. I'll try Bybit as an alternative. Kraken and others typically lack liquidity for less popular pairs, but I will explore them as well.

I came across a response from Binance's "Support Bot" stating that they are not accepting new applications from Cyprus residents at the moment. It claimed this situation would be resolved within three months. However, since this hasn't changed over the past month, I'm skeptical it will happen anytime soon.