I have been meaning to get back into trading and futures for a while. I left binance do with KYC but thinking of sucking it up and excepting it. Looking at alternatives though dydx came to my attention. What are they like and is there any other good Perpetual exchanges that are non KYC
Binance is a centralized exchange and there are many differences between centralized and decentralized as the two work in two ways. But Binance is one of the best exchangers among centralized exchanges where huge volume trades daily. And there are HUGE amounts of whale investors. If you care about KYC and want to avoid doing it then you should definitely use a Decentralized (DEX) where they won't demand KYC from you. But if you use Binance and do kyc there I don't think there will be any problem because they are a trusted and very big exchange platform. So there is nothing to fear about it
I agree that unless KYC is an issue, Binance is the better one and it has everything you could ask for. People talk about it like it's just an exchange but it has a lot more than just exchange there, you could do so much in Binance that you can't make anywhere else and that is why decentralized is not that great.
Plus, most decentralized exchanges uses wrapped versions and they have not controlled liquidity as well, which means that people built bots that could take advantage of the difference and just ruin the parity as well. That should be important to notice, I have seen whole projects crash because of the parity and they just arbitraged it down to zero. Binance would not allow that to happen and just close the pair.