1. What are privacy coins?
Privacy coins are cryptocurrencies designed to protect users’ privacy and ensure strong data security. However, the issuance and trading of privacy coins may be restricted by law or regulations in some regions.
2. Why can’t I trade privacy coins?
Due to the regulatory requirements of certain local authorities, users that used certain payment channels to deposit fiat currencies are not allowed to trade privacy coins. You will see the below pop-up when you try to place an order:
By offering you a vast variety of depositing channels, Binance is obligated to adhere to local regulations. If you wish to proceed, your account will be restricted from buying, selling, and trading privacy coins. Privacy coin restrictions may vary across jurisdictions and could include cryptocurrencies such as DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR, MOB, and so on. Please ensure there are no unfulfilled trades or open positions involving privacy coins in your Spot, Margin, and Futures accounts. All existing privacy coin balances can only be withdrawn from your account.