Binance--2nd account query.

connie147

Hi all,

I opened an account in Binance for crypto trading a few weeks ago. I am doing that jointly with my daughter and we are enjoying the trip so far.

Now my son, from watching what we are at would like to get involved as well. (they are both adults!)

Is it possible to open a 2nd account on Binance or sub account using the same details as I already gave them, or do we have to open a completely new account in my sons name?

We are doing this for investment education and a fun pastime. We will only be investing monies that can afford to be lost if things go belly up (but hopefully not obviously).

thanks
Connie

seannash

Whats the benefit of a shared account or sub account?
Better off having his own account. CGT on profits will also be spread across 2 accounts instead of 1.


Also not sure how a sub account would work with 2FA. Might be a way around it but not sure.

djan

Binance does something like this for corporate use where a main account has independent sub accounts for traders within companies to use.

It's best to have each person have separate account to easily utilise the individual yearly 1200 odd eur capital gains exemption.