March 28, 2024

Binance users must be verified by October 19

Binance users must be verified by October 19

The largest crypto exchange Binance published news on its website that now every newthe user must pass at leastIntermediate Verification to gain access to the company's products, including cryptocurrency deposits, the ability to carry out trading operations and withdrawals.

New requirements for existing userswill be presented in stages until October 19. Before passing the verification, they will only be able to withdraw assets, cancel existing orders and close active positions. Such users will receive personal notifications with additional details.

Verification instructions on the Binance platform are available here.

Restrictions are introduced for all already registered users until they pass intermediate verification.After passing the intermediate verification, all functionality will become available again.

“Binance has taken these measures to complyKnow Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This step helps to strengthen the protection of users and the fight against financial crime ", says the company.

Intermediate verification involves loadingidentity documents in addition to personal information, which is indicated at the stage of basic verification. You also need to be verified with a face recognition tool.

“Binance is revising its products and services aton an ongoing basis to identify changes and improvements in the light of evolving global compliance standards. Binance is making these changes to strengthen user protection and ensure a safer stay in the cryptocurrency space for all its participants. These measures are intended to support our efforts in customer identification and anti-money laundering. They will help to further strengthen the protection of users and fight financial crimes ", — adds the exchange.

How do I get verified on Binance?

To start the verification process on the https://binance.com platform, you need to hover over the account icon in the top menu and select “Verification”.

There are three levels of verification available for personal accounts on the Binance exchange:

  • Basic.
  • Intermediate.
  • Extended.

Binance users must be verified by October 19

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Basic verification

To pass basic verification, you need:

  1. Select the appropriate section on the identity confirmation page and click the “Confirm Now” button.
  2. In the form that opens, indicate your citizenship, full name, date of birth, city, street, postal code and telephone number.

The entered information is saved automatically, and you immediately receive a new status.

Binance users must be verified by October 19

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After passing the basic verification, you will be able to use your account with the following limits:

  • fiat currency withdrawal – $300 for the entire time;
  • cryptocurrency input - unlimited;
  • cryptocurrency withdrawal – up to 2 BTC per day.

In addition, at this level you can use some additional services, for example, Binance Earn, Binance Pool, Binance DEX exchange and others.

Intermediate verification

If the above limits are not enough, you can increase them by going through “interim” verification.

Binance users must be verified by October 19

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To do this, follow these steps:

  1. Click the "Pass verification" button in the corresponding section;
  2. In the form that opens, upload a photo of your identity document.
  3. Upload a photo that clearly shows your face (selfie).
  4. Complete face verification following the prompts. This is done using the camera on a PC or smartphone.

Now you need to wait for verification confirmation.

After passing the intermediate verification, your limits will be significantly increased:

  • deposit and withdrawal of fiat funds – $50,000 per day, but not more than $500,000 per month;
  • withdrawal of cryptocurrency - up to 100 BTC per day.

Additional services will also become available to you:

  • use of leverage and derivatives;
  • over-the-counter trade (OTC);
  • participation in various competitions and sweepstakes;
  • ordering a plastic card from the Binance exchange.

In addition, you will get the option of unlimited use of the Binance-P2P exchange. You can learn more about this service in the P2P trading guide.

The official website of the crypto exchange is https://binance.com.

Binance users must be verified by October 19

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