I went by way of a whole lot of processes and time to set up an institutional account with Binance. I've a British Checking account. The documentation and process alone took me a few month to validate absolutely.
Lengthy story brief IU obtained absolutely validated and so I made a decision to purchase 1 BTC to start to put it on my stability sheet.
And then I noticed I can't buy anything. What a FUCKTARD of a company Binance you're. You made me spend a month establishing, getting paperwork, going to and from together with your institutional workforce to validate, after which I can't purchase????
Binance institutional account has 4 alternative ways enabled so that you can buy:
- Credit/Debit Card Deposit - This is disabled for UK Corporations
- Card Deposit - This is disabled
- P2P Buying and selling - This is only facilitation however you're buying and selling outdoors of Binane and I'm paying a 3rd celebration, leaving me exposed probably as I might nonetheless want a full invoice. Perhaps someone right here might help on this and highlight what are the pros and cons of going via P2P
- Money Stability - Properly cant put cash so this is stupid to even have until you will have cash in your account.
The consumer experience for an institutional account for a small firm has been abysmal to say the least.
I acquired a name from the gross sales representative in the UK as soon as I finalized the KYC validation and once he understood I was solely a small fish trying to buy a number of BTC and never 100+ he just literally cling up on me and left me to my own units.
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