For people who constantly make use of the Binance mobile app, it is very important to have absolute control over your cryptocurrency.
If you want to use Binance, you will have to provide some personal information; once you do, you will have great flexibility in using all the available features. Additionally, you will also have more control over various aspects.
Hence, it is very important that you get done with your personal verification; it does not matter whether you have a lot of crypto in your kitty or not.
In this article, we will talk about many more factors regarding the authentication and verification of your Binance account, some of which include:
- How Long Does Binance Verification Take?
- The Importance Of Successfully Completing Binance Verification
- Step-By-Step Guidance During The Whole Identity Verification Process Of Your Binance Account
What Is The Binance Verification Process?
In the past few years, there have been quite some controversies related to the anonymity of cryptocurrency.
While Blockchain technology is functioning as it should, it is crucial for Binance that its users complete the verification process quickly and efficiently.
In today’s time, it is simply not enough to enter your standard information for the verification process – major crypto platforms legally need to know more about their clients and customers and the work they do on their platforms.
Hot Tip: It is not only Binance that requires the verification of its users; other exchanges are also implementing the fiat and crypto verification process.
For example, if you wish to withdraw funds from Coinbase, you will be asked for certain important details like your ID documents or bank account.
Why Should You Complete Identity Verification Process On Binance?
Before we get into the gist of this section, the important point you need to remember here is that you can opt for not completing the verification process if you do not plan on using the platform very often.
If you do, completing the verification process is very important; if you do not get done with the verification process, you will face certain limitations with your account, which could lead to major problems in the future.
Eventually, understanding the importance of the verification process is the reason why you need to get done with this process in the right way.
1. Unlock New And Better Binance Account Limits
Even if you have an unverified account, you will still be able to receive and/or send funds via the Wallet Address of your Binance account.
However, you should know of some types of limitations. For example, the lifetime withdrawal limit is 2BBTC or $300. Similarly, the basic verification process will also limit most other Binance features that you would want to use.
Meanwhile, if you have successfully completed the verification process, you can trade an estimated amount of US$50,000 per day; the limitation on your BTC will also increase – 100 BTC per day.
Note: The basic verification process is the moment when you are done with the creation of your profile.
You also need to consider that everything you read here should not be understood as investment advice; this is a simple article for informational reading only.
2. Binance Account Security Measures
Getting done with the Binance verification method will further enhance the security and safety features on your Binance account.
On the other hand, if you do not own a large amount of crypto in the first place, you have nothing to be worried about.
Completing the Binance verification process is very important because it will stop and prevent security breaches and various other illegal activities on your Binance account.
You need to understand that Binance is one of those crypto platforms that are always on the lookout for methods to improve the protection of the investor against sham developments on the mobile application of Binance.
Binance aims to provide a safe space where you can buy, sell, and trade crypto without having to worry about your security.
3. Crypto Exchanges Financial Regulations
Another critical reason why the verification for your Binance account is so important is that fiscal regulators have laid down strong laws related to crypto to protect platforms and users from various types of illegal activities.
For Know Your User (KYC) and AML verification laws, the platform needs to know certain personal details about the users. In such cases, ID verification becomes mandatory.
Unless you have something to hide, it is important for companies like Binance to conform with these written laws all anywhere in the world.
If you want to know more about the KYC verification on Binance, you can click here.
Things To Know Before Starting Binance Identity Verification Process
Once you start gaining an understanding of the importance of the Binance verification process, we can move forward with the basics of everything else that you should know before you can get started with the verification.
The overall process is quite simple and quick. However, you need to ensure that you remember the following tips before getting started.
This will lower your chances of falling while going through the verification process.
1. You Have 15 Minutes To Properly Complete The Process
You have heard it right! You will only have a total of 15 minutes to get done with the verification process.
While you can do it under this set time limit, you must ensure that everything is being done in the right way.
The only bright side here is that every user has ten trials to complete the verification process.
Even if you have failed or are unable to do so, you will have to endure a waiting period of another entire day to get your shot again.
Expert Advice: Experts suggest that you should not hit the Refresh button of your browser when the Binance verification timer is ticking.
Of course, while you have the luxury of trying out the verification process after 24 hours, you will end up wasting more of your time.
2. How Long Does Binance Verification Take?
Now this is a question that almost all users have in their minds – does the verification process get done immediately after 15 minutes or does it take a month for the same?
Well, the answer to this question is very straightforward – since all the information and documents you provide during the verification process are checked by a real person, this process should not take more than ten days maximum.
Of course, there also have been cases where the profiles of users have been verified within some minutes; however, this is a scenario that does not happen often.
The total amount of time it takes for the final verification will depend on whether the customer support team at Binance is not busy solving the queries of another user.
3. Binance Google Authenticator App
If you want to ensure the safety of your Binance account, it is recommended that you activate the Google Authentication app for your Chrome extension or mobile device.
If you want to activate the two-factor authentication process, all you need to do is follow the steps mentioned below:
- After you have opened your account, you need to tap on the Security Page icon; this will open a drop-down menu.
- Tap on the Two Factor Authentication (2FA) option; after a while, Binance will provide you with either a QR code or a verification code.
- All you need to do is scan the QR code or copy-paste the verification code and tap on Submit to activate the Two Factor Authentication (2FA).
This is the only method to set up the Google Authenticator; by the looks of it, the process is very fast and easy.
4. Set Your Binance Phone Number
Additionally, you also need to integrate the voice and SMS verification if there is something wrong in the future.
With that being said, there have been reports that some people face some problems related to transactions via the Binance SMS, like having an activated call blocker app or poor network signal.
In such cases, you need to ensure that you type down the right mobile number so that you do not do anything that could mess up your account.
Expert Advice: Based on experts, there is a way to reinstate the SMS authentication with a new email or mobile notification number; to do this, you need to head over to the security menu and tap on the ‘Security Verification Unavailable?’ button.
How To Complete Binance Identity Verification Process
If you have paid attention to everything we have discussed above, it is time to start with the requirements for intermediate verification.
While the process is very easy to understand, you need to ensure that you read all the steps mentioned below to avoid any confusion.
Step 1: Go To The User Center
Once you have logged into your Binance account using your email address and the corresponding password, you need to click on the User Center.
Here, simply click on the ‘Identification’ button.
Step 2: Select ‘Identity Verification’
This is the step where the work starts; hence, you need to pay your undivided attention to it. A menu will appear where you need to answer a few basic questions.
You should remember that if your residential address is not present on the list of the allowed nations, the verification process will self-terminate.
Step 3: Complete All Of Your Basic Data
On the screen, you will see some basic but vital questions that you need to answer. Once done, you can proceed to the next step.
Step 4: Upload Each ID Document
The next step is to upload a few ID documents like your driver’s license and your passport. Once the photos of these IDs are uploaded, the verification process of the provided photograph will begin.
Lastly, you will be asked to complete the ‘Face Verification’ process. In this stage, you will have to provide a visible and clear portrait photo and upload the same.
You cannot wear glasses, hats, or even use any type of filters to complete this Photo Verification process.
Step 5: Finish The Basic ID Verification Requirement
Most users want to know the total time it will take to get done with this verification process. Thankfully, the process should not take more than five minutes if you follow the steps that are mentioned above.
After you are done with this section, next is the process of residential address verification.
Residential Address Verification
Now, this is quite an advanced verification stage. This is the last step of the verification process; therefore, it is important that you complete the process right.
Also Read: If you want to delete any other crypto account to get started on Binance, you can read more about it in our guide here.
Step 1: Go To Advanced Verification
The first step of the address verification process is to tap the correct choice, as you can see in the image below.
Step 2: Complete All The Information Needed
Here, you need to provide your postal code. Next, Binance will request any file that you can use to confirm your real address.
For instance, you can make use of documents like a utility bill or a bank statement if you want. All you need to remember is that the address on the documents needs to be visible and clear.
Binance Address Verification Failed: What Happened?
If your Binance address verification process has failed, there are three reasons why such a thing has happened:
- You were unable to get done with the verification within the 15-minute window, which is very critical
- You uploaded the wrong documents or photo files
- One or more documents that you have submitted are invalid
Of course, if you think that you have done everything by the book and there were no mistakes in uploading the documents, you can get in touch with the Binance support team here.
You should remember that the Binance support team receives more than a thousand queries related to verifications daily.
Therefore, it is important that you check all documents and IDs before forwarding your verification query.
On the bright side, you can try the verification process ten times in a day; hence, even if you fail on Day 1, you can always try again after 24 hours.
When it comes to verifying your Binance account, these are the steps that you need to take. You can follow our page if you are looking for more similar articles.
Binance Verification FAQ
Can I Use Binance Without Verification?
The answer is yes! However, unverified Binance profiles will have a lot of limitations, particularly in the terms of certain aspects like withdrawal, transfers, and trading.
Hence, it is highly recommended that you get your Binance profile verified so that you get all the benefits of using Binance with no limitations.
Can I Withdraw In Binance Without Verification?
Yes, you can easily withdraw 2 BTC or US$300 with an unverified profile. However, this amount of crypto will not be enough to get converted into fiat currency.
Hence, it is recommended that you get done with the verification process of your Binance profile.
With a verified Binance profile, you will be able to withdraw a lot more than an unverified profile.