In this article, you learn about Binance verification and how to do it. Binance Exchange is one of the most reputable digital currency exchange companies, which was established in 2017. Within two years, this exchange will become the largest center for buying and selling digital currencies.
In 2021, this exchange is still the largest and most reputable place for buying, selling, and trading digital currencies. The company currently has a daily turnover of more than $ 15 billion and $ 37 billion in intermediate markets.
As a centralized exchange, the platform must operate by financial rules, including KYC and AML, meaning that you must authenticate to work on the platform. In this article, we will thoroughly teach the authentication methods in Binance.
Why you should complete ID verification on Binance?
Due to reducing security problems, authentication is required on websites that operate by banking financial practices and rules. Important information such as an account should not change after authentication unless you choose a new method of withdrawing money on this type of platform.
The world’s financial systems have enacted laws to increase the security of individuals’ assets by eliminating illegal activities. These rules are known as KYC and AML. Most centralized exchange offices must operate under these rules. Therefore, authentication is one of the things that can prove that a person acts under the said rules.
Authentication at most cryptocurrency exchanges is a way to unlock more trading restrictions. You may be able to unlock many new features for authentication in Binance trading. For example, unapproved accounts and those in the basic level can withdraw only less than two bitcoins per day and have a $ 300 Fiat currency limit. As the Binance authentication account grows to Intermediate levels, the limit will increase to $ 50,000 per day and $ 500,000 per month, and more than 100 bitcoins can be withdrawn per day. Advanced levels can also raise more than $ 200,000 a day and $ 2 million a month.
Setting up 2-factor authentication
Setting up a two-factor authentication system is suitable for increasing account security. In this way, in addition to entering your password, you must also confirm a code sent via email or SMS. Binding allows you to have at least three facts about this method to increase the security of your account.
Once you have set up your Binance account, you will also be asked to verify two-factor authentication. Never authenticate before enabling 2FA. If you have not enabled 2FA, you will always be prompted with a notification to secure your account.
How to complete identity verification on Binance
Now it’s time to look at the complete Binance authentication method and learn how to do it step by step.
Step 1
Log in to your Binance account. Then click on your profile icon at the top right and click on Identification.
On the next page, you will see three options Basic, Intermediate and Advanced. You will be allowed to choose the second and third options, as your account is in Basic mode at the time of registration.
Step 2
In this section, select the Intermediate option. To complete Binance authentication in Advanced mode, you must first complete Intermediate. In this section, click on the Verify option to go to the ID verification.
Step 3
At this stage, you must specify your country and region of residence. This information is critical because Binance works according to the laws of some areas of the world, and the policies of your region should be covered by these laws.
Therefore, if you are in a country that is not subject to the rules of Binance, you can not get an Intermediate or Advanced account. For people living in the United States, Binance offers a global version known as Binance US. This platform is more compatible with the United States and its laws. We suggest that you use Coinbase instead of Binance if you live in the United States.
There are two steps to authentication. The first step is to submit your basic information, and the next step is to provide face recognition and confirmation documents.
Step 4
First, complete your basic information on the Binance website. This information includes the name and address of the residence. Make sure your name matches the documents provided. Also, make sure that your address information is the same as the confirmation of the address you send to the website later. You must provide a verification document such as a bank confirmation.
At this stage, by completing all the required information, you can go to the next section to confirm your face.
Step 5
In this section, select the ID document option. You can now choose three different items from the required documents to include an international passport, driver’s license, or national ID card. Binance requests only one of these documents from you.
Step 6
Submit a clear image of your ID. Depending on what document you choose, you should take a photo or two of it and submit it. You can send only one picture for the passport, but for other documents, the images on the back and it are requested.
You can send images in JPG, JPEG, PNG formats, and your file size should not be more than 5 MB.
Step 7
Take a portrait of yourself and submit it at this stage to confirm the face. Binance also allows you to submit your passport photo. The size and structure of the images should be the same as the previous step.
Step 8
At this stage, you must confirm the face. Binance allows you to use the phone’s camera to scan faces. Even if you work with a desktop, you can complete this step with a webcam, so to do this, a QR code is sent to receive the Binance application.
This step is the last step to verify Binance authentication. But you have to do all the authentication in less than 15 minutes. You only have the opportunity to authenticate every 24 hours.
The process of confirming the submitted documents takes less than an hour, but sometimes due to network traffic or a large number of requests, it can take up to 36 hours.
After your ID has been verified in Binance, you must also verify the address. But what documents are needed to confirm the address, and what should we do?
Advanced verification
In this step, you must also confirm the address. Binance asks you to provide a document to demonstrate and display your address on it.
Step 9
First, on the Verify now account and address verification page, click the Verify now option, a yellow button. In this step, you will be shown that the ID verification steps have been completed successfully, and now the button under the Advanced option is activated, and you can select it.
Step 10
You must first enter your full address in the field that appears. There are two different pages in this section. You must first enter the address details. This information must match the document on which your address is registered and provided to Binance for your address to be verified.
On the next page, you must upload the location address document. This document must be official to be approved under Binance rules. You can use the following to do this:
- Bank statement
- Utility bill for your electricity, water/sewage, gas, or internet.
All documents you submit should not be more than three months old. The file can be in PDF, JPEG, JPG, PNG extensions, and its size should be less than 5 MB.
Once you have thoroughly reviewed the items and are sure of them, confirm the items. Binance will review your information and respond to you in less than ten days. Usually, the confirmation time is less than this amount, but it is better to wait for the Binance answer before doing anything.
Conclusion
To access more features, unlock withdrawal details, and remove Binance restrictions, you can complete two levels of Intermediate and Advanced user authentication levels. The intermediate level does not require confirmation of residential address, but you must submit your passport or other personal identification documents. The procedure is straightforward. You can complete all the needed items and upgrade your account in Binance in less than 10 minutes.