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Binance.US should not be recommended for alt-coin trade as they have no support and are locking up withdrawal.

Binance.US should not be recommended for alt-coin trade as they have no support and are locking up withdrawal.

All Cryptocurrencies

by COINS NEWS 28 Views

Like many noob crypto investors, I made a chargeback mistake. That means my balance went negative on Binance.US. It was just $100 and I settled quickly within two days by doing a wire transfer. However, they locked my asset which is significantly more than $100. I was hung out dry for about two weeks without any help.

In another instance, my friend did a wire transfer, but he forgot to add a unique code in the wire transfer so the money was in limbo and not released by Binance. He is fighting to have it released with no response.

Those are all common mistakes people make. I agree I am partially at fault here, but you need swift customer support to fix this. Binance.US fails so badly in this.

Big story short. I reached out to a lawyer for counsel and he asked me to reach to Binance.US compliance officer. Last week, I emailed the compliance officer explaining the situation, and the account was unlocked in 2 hours.

Either you are a pro or noob crypto investor, Binance.US is not an ideal place to trade. Even for a small mistake, they are locking up accounts without providing any support. Their ticket system is joke and tickets are being closed without solving them.

Maybe one day if they have customer support like Kraken, Binance.US is a good place, but until then I would avoid it.

submitted by /u/theusdesi
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