Binance is the globally leading Malta-based cryptocurrency exchange platform. This company was founded in 2017. Within these three years, this company has had an unmatched rise. In 2021, this exchange is occupying the peak position.
Crypto-game is one of the hottest trends these days. As the number of users is increasing, the demand for trading platforms is also surpassing. According to the general rule of thumb, you can not trust every single cryptocurrency platform out there.
This exchange says, “To enhance your security and unlock unlimited doors of trading, you need to provide your ID proof.”
1What Binance says about identity verification
2Why is Binance verification crucial?
2.1To unlock higher trading limits:
2.2Enhances security measures:
2.3To comply with Global Finance Laws:
3How to complete identity verification on Binance?
3.1Step1 (Verification Process)
3.2Step 2 (Upload Documents)
3.3Step 3 (Upload Photos)
3.4Step 4 (Attach the Document)
3.5Step 5 (Face verification with mobile)
3.6Step 6 (Advanced Verification)
4What are the possible issues in identity verification?
5Is message code supported in every region?
6Frequently Asked Questions (FAQs)
What Binance says about identity verification
Complete identity verification helps you to know your customer & that is what we also do. As we are leading the crypto trading market, we want our consumers not to have limited funds assets. After verifying, we confirm and allow the verified users to trade as much as they want.Binance
Coming to the point, how do you verify your identity? We accept that the method is simple but not that simple: you earn the verified badge by uploading documents and details. You have to pass through a step-by-step manner.
Here in this article, we have mentioned the complete identity verification process. But before that, check out why you need to complete the identification process.
Why is Binance verification crucial?
There must be some solid reasons & benefits of verifying the Binance account that the folks are searching in different articles & going crazy for the method.
To unlock higher trading limits:
Just like other crypto trading platforms, Binance also necessitates identity verification to unlock unlimited trading limits. Understand this situation with this example;
Basic level verified accounts withdraw only $300, with a 2 BTC daily withdrawal limit. Intermediate level verified traders trade $50,000 daily, $500K monthly, and withdraw funds up to100 BTC daily.
Lastly, the Advanced level verified accounts trade $200K daily with a monthly limit of $2 million. Simply by updating your details, you are boosting your trading limits.
Enhances security measures:
As the cryptocurrency game is on fire, scammers and hackers are also active. Trading with an unverified account on Binance is not a safe move for you. Anybody can hack your account, alter your bank statement & your details. You have to take every step carefully.
Secure your Binance account to minimize the scams and chances of getting your data altered.
To comply with Global Finance Laws:
Every cryptocurrency exchange flows the business based on the of global finance. KYC and AML provisions noticeably are the leading global finance laws.
The primary demand of these laws is to have verified consumers. For this, Binance wants every single account on its platform to be verified.
I want liquidity in the crypto exchange with no border for our consumers. Account verification helps us to access the activity of our consumers, keeping fraud aside, and most importantly, improving the security system of Binance.Changpeng Zhao, CEO Binance
How to complete identity verification on Binance?
Follow the step-by-step manner to verify your Binance account.
Step1 (Verification Process)
Log in to your account on the website, and direct to the user’s account option. The option will be top right on your navigation bar. Under the user’s account option, the second option will be verification. Click on it.
On the personal verification page, you will see there are three levels. If you haven’t passed through any level, start with the primary level.
Step 2 (Upload Documents)
In the basic level verification, you need to enter your basic information like nationality, first, middle & last name, date of birth, street address, postal code, and city. Documents submitted, click on continue. After loading, your account is verified on the primary level.
Providing country & street address documents is necessary because Binance verifies the location according to specific location laws. There are some areas where the Binance system is restricted, or its policies might not work.
For US citizens, Binance has a stripped-down version called Binance.US. This version of the Binance app is rigorous over the rules and regulations.
On the page, you will receive an option of upgrading your verification for higher trading limits. Click on it.
Step 3 (Upload Photos)
At this verification level, you have to provide your documents and upload photos. While uploading photos, make sure they are focused and not blurred. Now, you can select from the following options;
- Identity card
- Driver’s license
Upload the documents in which you feel comfortable and are available at the moment. Most of the folks consider uploading the government-issued identity card instead of the driver’s license and passport.
After selecting documents, upload the front & backside photos. The file size should be less than 5MB & the type should be PNG, JPEG, or JPG. Now proceed to the next step.
Step 4 (Attach the Document)
In this step, you have to complete your facial verification. Face verification might sound perplexing, but you can complete it in a few seconds if you follow the guideline keenly.
Step 5 (Face verification with mobile)
In those cases where you lack a computer, you can do facial verification using your mobile phone. Before starting the face verification, below on the screen, you will see the option of using a mobile phone to complete the verification. Click on it.
Now, scan the QR Code to access the verification process on your Binance app. Remember, Binance wants you to complete the facial verification in less than 15 minutes. Do not reload the page after scanning the QR code.
If the system denied your verification more than ten times, you would need to wait 24 hours before applying for the face verification.
Step 6 (Advanced Verification)
It is the last and the highest level of identity verification. After completing the personal & intermediate level verification, your badge should be orange. Now you have to provide such documents that give proof of your address.
- Bank statement document
- Utility bills document
First, input the address on the dialog box and upload photos of your bank statement or utility bills that display your address. Remember, upload a document that is not older than three months.
Binance will take around 7-10 working days to review the document for advanced verification. After that, you will receive an email verification.
That is the step-by-step complete identity verification process. If your essential information is complete, you can direct it to the intermediate level. Similarly, if the intermediate level is complete, proceed to the advanced level.
What are the possible issues in identity verification?
Some of the possible issues in identity verification include the recognition of facial expressions. As every user’s computer setting is different, the system finds it difficult to verify the person. Before stepping into the method, know your computer.
The Binance system will ask you to record a video showing your facial expressions. Submit the video to the portal. The system will take around 1-2 working days. After that, your identity will be fully verified.
Is message code supported in every region?
Another issue in the identity verification process is not receiving the verification code via message. Verification via message code is a crucial step of two-factor authentication. However, some regions do not support message code verification.
Check the countries list on Binance’s website to confirm whether your country is on the list or not. If not, then enable the Google Auth verification to receive the code.
If your country is enlisted, but you are still not receiving the verification code, make sure your internet connection is strong, try restarting the device, or try voice verification.Take a look at this video for clarification: https://www.youtube.com/watch?v=1newgMTWeWA
Frequently Asked Questions (FAQs)
Why can’t I complete my face verification even after uploading the proper document?
It is one of the common issues during identity verification. Make sure that you are not wearing any glasses, avoiding filters, and the light is appropriate. If the issue is still, then verify by uploading your selfie. Your selfie will prove your identity.
In case someone invades your privacy, what should you do?
If you notice any illegal activity in your wallet, you can directly contact support. Binance’s customer support is available 24/7. Consult with your issue, and they will respond to you immediately.
After solving your issue, verify your identity verification by attaching the document.
What digital assets does Binance offer to the consumers?
Binance offers more than 500 tokens and digital currencies to the consumer. Besides, the trading model is crypto-to-crypto.
How Binance protects your money from money laundering?
Your wallet on Binance is 100% protected from money laundering. It has anti-money laundering policies that protect your money. KYC has an active eye on your money activity.
Once I completed my identification, how long do I have to wait for the security badge?
After completing the identification process, you must wait for 7-10 days for the security badge. After that, you will receive an email & the badge will be displayed on your screen.
Why is my Binance verification taking so long? ›
Some verifications may even take a few minutes, and some may take up to 10 days. The best way to reduce how long does Binance verification take is to make sure all the pictures of your documents are clear. That means not blurry or too dark—the document must be readable in the picture.Why is Binance verification not working? ›
Why can't I complete my face verification even after uploading the proper document? It is one of the common issues during identity verification. Make sure that you are not wearing any glasses, avoiding filters, and the light is appropriate. If the issue is still, then verify by uploading your selfie.How do I get past Binance verification? ›
Log in to your account created on the Cryptorobotics platform.
- Click on the “Account” button.
- Press the “Binance Sub-Accounts” and “+ Binance Sub-Account”.
- API keys will be automatically obtained for the Binance crypto exchange.
The Binance intermediate verification process usually takes between a few minutes up to 10 days. How long does Binance US advanced verification take? The Binance US advanced verification process usually can take a few minutes, or up to 10 days, for Binance to verify your documents.What is the fastest way to get Binance verified? ›
Log in to your Binance account and click [User Center] - [Identification]. You may click [Get verified] on the homepage directly for new users. 2. Here, you can see [Verified], [Verified Plus], and [Enterprise Verification] and their respective deposit and withdrawal limits.Why do I have to wait 10 days on Binance? ›
This gives the user time to notice the unauthorized activity and take action to secure their account before any funds are lost. The number of days that the withdrawal lock is set for can be customized by the user. By default, it is set to 10 days, but it can be changed to any number of days between 1 and 30.Can I use Binance without verification? ›
Those who don't complete verification will only have basic access to the Binance site. Non-verified users can explore our offerings, and claim NFTs, Fan Tokens, and Binance Gift Cards, but they will not — under any circumstances — be able to interact with any Binance trading products.Can I still trade on Binance without verification? ›
Can I buy on Binance without verification? No, All users are needed to verify their accounts in order to access Binance products and service offerings, including cryptocurrency purchase, trades and withdrawals.How do I chat with Binance Customer Service? ›
- If you are using the Binance App, tap the [Support] icon on the homepage.
- You will see a list of common issues and their solutions, self-service links, and FAQ topics.
As part of our commitment to building a safe platform to protect users against identity theft, fraud, and money laundering, you may be asked to complete facial verification again when you withdraw an NFT.
How long does crypto verification take? ›
This is a case-by-case process and may take anywhere from a few hours to a couple of business days, depending on many factors (e.g. your country of application, nationality, quality of the pictures, etc.).Can I buy in Binance while waiting for verification? ›
All new users are required to complete [Verified] verification to access Binance products and service offerings, including cryptocurrency deposits, trades, and withdrawals.How many days does Binance verification take? ›
If your question is “how long does Binance verification take?”, my answer is “within ten days”. You're done once you've verified your entry. Within ten days, Binance will review the information and paperwork.How do I pass Binance facial verification? ›
Top Tips to Pass your Verification. To unlock full access to Binance's products, we require identity verification. Rest assured, your personal information is securely encrypted both in storage and in transit. Please ensure you are not wearing any glasses, hats, headphones or other items that can obscure your face.Can US citizens use Binance? ›
The world's largest cryptocurrency exchange, Binance.com, isn't available in the US. It stopped accepting US users in 2019 after facing regulatory issues in the country. That's why Binance partnered with US-based BAM Trading Services to create Binance.us, a new cryptocurrency exchange for US citizens.Why are people pulling out of Binance? ›
Customers of Binance have been pulling their funds out of the exchange in the past few weeks amid waning confidence in the crypto sector, after Binance's former rival FTX collapsed. Sam Bankman-Fried, FTX's co-founder, has been charged with fraud for allegedly misappropriating billions of dollars of users' money.Can I still get my money out of Binance? ›
Binance accommodates for fiat withdrawals for any amount available in your account via different payment methods. To withdraw money from your account to a bank account, you can choose either the Bank Transfer SWIFT method or Instant card withdrawal.Can you use Binance without SSN? ›
A valid Social Security Number (SSN) or Taxpayer Identification Number (TIN) is required. If you are unable to obtain either, we advise contacting your local Social Security Administration office.Does Binance report to the IRS? ›
What does Binance US report to the IRS? Currently, Binance issues 1099-MISC forms which include details of any income over $600 investors have made to the IRS. The IRS is currently developing a dedicated digital asset 1099 form, so in the future the information Binance US reports to the IRS may increase considerably.Can you buy crypto on Binance without ID verification? ›
In order to ensure a stable and compliant fiat gateway, users buying crypto with credit & debit cards are required to complete Identity Verification. Users who have already completed Identity Verification for the Binance account will be able to continue to buy crypto without any additional information required.
Can I trade crypto without verification? ›
Q #1) Can you trade Bitcoin without verification? Answer: Yes. You can actually trade it for fiat without a single verification on different marketplaces like ShapeShift, BitQuick, and LocalBitcoins.com, Paxful, and DameCoins.How to bypass KYC Binance? ›
- Download a Binance Wallet. ...
- Set up your Binance. ...
- Buy BNB Chain as Your Base Currency. ...
- Send BNB Chain From Binance to Your Crypto Wallet. ...
- Choose a Decentralized Exchange (DEX) ...
- Connect Your Wallet. ...
- Trade Your BNB Chain With the Coin You Want to Get.
We have initiated a live chat session with you as there is an important matter that requires your attention. You may be required to login in the next step if you have not already done so.How long does it take for Binance customer service to reply? ›
Average Support Response Time: Now only 1–2 minutes. Productivity Improvement: Live Agents are 35% more effective.How do I redo verification process Binance? ›
- Log in to your Binance account and go to the [Identity Verification Update] page. ...
- Enter the updated information and click [Continue].
- Please wait patiently for the system to process your request.
How long will manual identity verification take? Manual identity verification may take 1-2 business days. Once your identity has been manually verified your driving record report or criminal background check report will update automatically.Why did my crypto verification fail? ›
If the documents you provided are not valid or don't match the other personal identification information, your submission will be rejected. In most cases, prior to being rejected, we'll reach out to make sure we've got all the proper information from you.How do I know if my Binance account is verified? ›
Where can I get my account verified? You can access the Identity Verification from [User Center] - [Identification] or access it directly from here. You can check your current verification level on the page, which determines the trading limit of your Binance account.Why does my ID verification keep failing on Binance? ›
Binance verification fail for various reasons: This could happen because their codes are not flexible enough to read and decide if a verification should be successful or not. Things that could be a cause: Poor inflexible codes or too strict algorithm for security reasons. Standard account limits per duration.Why am I not getting a verification email from Binance? ›
Have you checked the spam folder of your email? If you find that your email service provider is pushing Binance emails into your spam folder, you can mark them as “safe” by whitelisting Binance's email addresses. You can refer to How to Whitelist Binance Emails to set it up.
Why am i unable to verify my address on Binance? ›
As simple as it might sound, this is the most common reason why address verification fails. You must include your address's zip code, house number, and every possible detail related to it. As Binance states on their official website , invalid addresses will be rejected without hesitation.Why I Cannot use Binance in us? ›
The world's largest cryptocurrency exchange, Binance.com, isn't available in the US. It stopped accepting US users in 2019 after facing regulatory issues in the country. That's why Binance partnered with US-based BAM Trading Services to create Binance.us, a new cryptocurrency exchange for US citizens.How do I pass address verification Binance? ›
How do I verify my residential address? You need to upload a copy of the document showing your full name or business which clearly indicates: residential address, date of issuance, and name of the issuer, it needs to be dated within three months before the date of submission.