From 1 July, Binance will no longer be permitted to carry out crypto transactions within the EU, as the relevant MiCA licence has not been granted or the application has been withdrawn. For the time being, this means no further purchases or sales, and no legal transactions. Your deposits are nevertheless secure and remain accessible. You can access them at any time. As you’ll probably want to trade actively, I’d currently recommend using a different provider (my choice would be Revolut). Binance is, however, still trying to obtain a licence so that they can continue operating as before. Incidentally, I’ve found their customer service to be quick, competent and solution-oriented.
Thank you! Yes, indeed and I am starting to think this is somewhat intentional.
So from what I understand, if any assets are left with them after 1st of Jul, they won't be tradable or transferable, meaning they would be locked until Binance eventually gets their MiCA license.
With regards to Revolut, I don't have their premium levels and the standard level says crypto trading fees are 1.49%, that's a bit high but from my own experience ,the crypto trading fees are 50% as few months ago I won some alt coins by doing a few of their learn and earn programs and when I tried to sell those alt coins, the experience was really rubbish. 50%, come on. I am not trusting my crypto on Revolut. I love their flexibility and speed when it comes to sending money to relatives and friends, but lately, it feels more and more like a regular bank to me ;) My favorite local bank here, has 1% flexible APY on EUR, free instant SEPA transfers and tons of extra services and shopping discounts and offers, and no monthly fees if I do at least 1 transaction in 6 months so it feels almost the same, and the best is they have a real office where I can go and speak to a clerk ;)
I'll probably move some crypto to Kraken, their trading fees are bigger than Binance but so far it's one of the most secure exchanges and they've got their MiCA license long ago.
Have a lovely Sunday! :)
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