Binance and Kraken issues - both give errors

[paalmtree]

Hi guys, just signed up for both exchanges, just to try and see how they work. Might or might not use either.
Ironically, both have issues with linking my bank account.
Called my bank (one of the major banks in US), no issue on their end.
Binance support doesn't respond to the ticket for over 24 hours.
Kraken live chat says "we are aware of the issue and working on it" which means pretty much nothing.
Basically cannot buy crypto on neither exchanges.

Did anybody encounter such issues and was able to resolve it?
What can one do?

 

[Gogol]

Perhaps do it from the p2p section on binance? Works fine on my end (both for buying as well as selling). Just having kyc should be enough. No need to add bank accounts.

 

[paalmtree]

Perhaps do it from the p2p section on binance? Works fine on my end (both for buying as well as selling). Just having kyc should be enough. No need to add bank accounts.

Never used it. So, how do I pay for crypto then?
The whole idea of using crypto for anonymity is to not give access to anyone to your other payment methods.
So, how do i pay to sellers then if not through the exchange?

 

[DuoDeep]

these kind of errors are normal at the moment

 

[paalmtree]

these kind of errors are normal at the moment

What do you mean by that, bugs are normal at the moment?
When can they be resolved, you think?
I mean, how do I buy crypto securely?

 

[Gogol]

Never used it. So, how do I pay for crypto then?
The whole idea of using crypto for anonymity is to not give access to anyone to your other payment methods.
So, how do i pay to sellers then if not through the exchange?

Simple. You send money from your bank account to the one mentioned in the deal. Then you confirm that you have made the payment. Seller then releases the crypto. The risk is managed by binance themselves.

Just be sure to read the tutorial and terms (for example, do not send money from an account that is not under your kyced name) before you begin.

 

[ahref]

Never used it. So, how do I pay for crypto then?
The whole idea of using crypto for anonymity is to not give access to anyone to your other payment methods.
So, how do i pay to sellers then if not through the exchange?

Seller will give his bank account, you need to transfer fund to his account, he will release the crypto to you. Check feedback of seller before transferring fund in p2p. Binance act as escrow in p2p.

 

[paalmtree]

Simple. You send money from your bank account to the one mentioned in the deal. Then you confirm that you have made the payment. Seller then releases the crypto. The risk is managed by binance themselves.

managed how, could you please explain?
How do I send from my bank account directly to the seller without him seeing my bank information, since account linking through Binance is not workin?

Sorry, i am a nob, so forgive stupid questions.

 

[paalmtree]

Seller will give his bank account, you need to transfer fund to his account, he will release the crypto to you. Check feedback of seller before transferring fund in p2p. Binance act as escrow in p2p.

So, how safe is it?
Does the seller see my bank details?
Are the cases that crypto is never received?
What are the major mistakes with it?

 

[Gogol]

managed how, could you please explain?
How do I send from my bank account directly to the seller without him seeing my bank information, since account linking through Binance is not workin?

Sorry, i am a nob, so forgive stupid questions.

The asset (e.g. Usdt) goes from sellers binance account to your binance account. After you make the payment, if the seller does not release the crypto, you then appeal (never had to do it till date and I have moved more than 30k).

You pay from your bank account, not from binance account, so there is no need to add the account on binance.


When the deal starts, you get the account number and other details where you are going to pay the money.


ps I am assuming you have a binance account with kyc already done. Otherwise it won’t be possible to buy/sell in p2p.

 

[ahref]

So, how safe is it?
Does the seller see my bank details?
Are the cases that crypto is never received?
What are the major mistakes with it?

There will not be any problem if you choose seller with good feedback and trades also there are many verified seller with yellow tick.

Don't choose new seller even if he is offering better price.

Fraud do happen everywhere, but binance act as escrow so there is security as seller crypto is locked.

 

[paalmtree]

There will not be any problem if you choose seller with good feedback and trades also there are many verified seller with yellow tick.

Don't choose new seller even if he is offering better price.

Fraud do happen everywhere, but binance act as escrow so there is security as seller crypto is locked.

cool. but is my bank info visible to the seller in this transaction or Binance masks all P2P payments?

 

[Salamouna]

We have crypto section here https://www.blackhatworld.com/forums/cryptocurrency.218/

 

[Gogol]

cool. but is my bank info visible to the seller in this transaction or Binance masks all P2P payments?

Binance cannot control the transaction from fiat side. Binance advises you to not write anything like “p2p transaction” in the transfer comment. That way, your government might freeze your account. Just do a normal transfer like you would for sending funds to someone.

Binance only controls the crypto side. If there is a dispute, the fund is frozen and a mediator is assigned to get the dispute settled.

 

[paalmtree]

Binance cannot control the transaction from fiat side. Binance advises you to not write anything like “p2p transaction” in the transfer comment. That way, your government might freeze your account. Just do a normal transfer like you would for sending funds to someone.

Binance only controls the crypto side. If there is a dispute, the fund is frozen and a mediator is assigned to get the dispute settled.

ok, so basically those transactions are not private at all, as you give your bank info to a stranger that participates and is obviously therefore aware of your transactions, identity etc,.... correct? And who knows who will do what with it...

that kind of defies the whole purpose of anonymity with crypto...

 

[paalmtree]

So, basically, how often do those errors occur and how to get through them to trade only via exchange, not P2P network?

What are other secure exchanges to try? Crupto.com seems to be only for mobile? I need web based.

 

[Gogol]

ok, so basically those transactions are not private at all, as you give your bank info to a stranger that participates and is obviously therefore aware of your transactions, identity etc,.... correct? And who knows who will do what with it...

that kind of defies the whole purpose of anonymity with crypto...

Yep, that is correct. But same goes for buying crypto directly with your card. If you want to be completely private about it, you need a earning source directly in crypto.

 

[paalmtree]

Yep, that is correct. But same goes for buying crypto directly with your card. If you want to be completely private about it, you need a earning source directly in crypto.

"But same goes for buying crypto directly with your card."

yes, but if I buy through exchange itself, the trading details (payment method data) are not in the open to anyone, right?
only of it's P2P trading, correct?

"earning source directly in crypto."?
Please say more...