But if you want to use additional services of Binance, you have no choice but to pass the KYC or leave the exchange. I am now talking about such services as margin and futures trading, as well as participation in IEO, which are held on the exchange. Of course, there are many other exchanges, but they also can't guarantee security.
Yeah, you are kind of forced to go through KYC if you are trading or withdrawing a rather large amount of assets because you can not just trust any new exchange these days, although I'm pretty sure many whales out there won't be using their own identity information to pass KYC and many of them buy identity information or the trading account(pre-verified) itself either from a person or the black market that we talked about in this topic earlier, also they have the option to use a few decentralized exchanges that still don't ask users for KYC, they definitely won't have as good experience using this exchange comparing to the centralized ones since it has larger spreads, lower volume, less number of pairs and higher fees(blockchain transaction fees), but regardless they will be able to trade big amount of assets without the need for KYC verification.