Why do I need verification on the Binance exchange and how to get it?

Today we will tell you about how account verification occurs on the Binance crypto exchange and why it is needed.Indeed, it would seem a requirementsubmitting documents before trading crypto goes against one of the core principles of blockchain payment privacy. But, you need to really look at things. If you put anonymity at the forefront, the blockchain will become the property of the darknet and neither the powers that be nor society will ever accept it.

Crypto-skeptics argue that complete anonymityholders of digital currencies is an aid to the black market. They say that with the advent of bitcoin and other crypto coins, the possibilities for making illegal transactions and laundering dirty money have increased significantly. They are partially correct, although not everything is as simple as it seems. Especially after all reputable trading platforms, in order to ensure anti-money laundering, introduced a mandatory identity verification procedure for clients with a large trading volume.

So, let's go directly to the topic of the review, verification on Binance for Russians and residents of other countries of the former CIS, what you need to know in order to go through the procedure the first time.

Registering a new account

Very few crypto trading platforms allowwork without creating an account, synchronizing directly with the wallet. To get on an exchange with a solid trading turnover, you need to register.

To register, you need to go to the official website of the exchange https://binance.com/

The user provides and confirms the addresse-mail box or mobile phone number and, creates an individual password to enter the site. Only after that, a personal account is provided, in which there is a multi-currency wallet for placing assets.

On Binance, creating an account works exactly like this:Therefore, we will not consider this issue in more detail, especially since a separate review is devoted to it on our website, but rather we will tell you how to pass KYC verification on Binance.

ID confirmation

So, you have created an account on https://binance.com, confirmed your email, completed basic security settings and now you can make a deposit to participate in trading. But please note, Binance customers,those who have not passed verification can withdraw a maximum of two bitcoins per day in cryptocurrency from the exchange, and if you want to withdraw fiat money, then thiscannot be done. Therefore, if you want to withdraw money in US dollars, rubles, hryvnias or other national currency, you will have to connect to the “know your customer” program.

This is not difficult to do. First, log into the website https://binance.com with your username and password, open your personal account and go to the “ tabID confirmation".

Now you need to fill out the form by specifying:

Citizenship;
FULL NAME;
Date of birth;
Residence address.

After the questionnaire is completed, submit the data for verification and proceed to the second stage of Binance KYC.

Extended verification

Now you need to upload a photo or scanned copy of the document on the photo page. Accepted:

ID card of identity card;
The passport;
Driver's license.

Previously, you also had to take a photopassport cover or the back of an ID card, but for now, all you need to do is take one high-quality photo of the document (driver's license) and upload it to the Binance verification page.

You will then be asked to take a selfie or upload a portrait photo.

The last step is a dynamic face check. You no longer need to take a selfie with an open document and a white sheet of paper with the inscription Binance and the current date.

Now the requirements are slightly different.You will need a webcam or smartphone with the Binance app installed. If the webcam is connected to a desktop PC, the third stage of verification will start automatically.You will be asked to align the video capture outline on the display with your face, and slowly perform a specific movement. For example, turn your head left or right, nod, or even open your mouth.

If you don't have a webcam, no problem,use your smartphone. You need to download the Binance trading application in advance and log in to it using the same account that you will verify.

Once you complete the first two steps of KYC, a Qr code will be available on the verification page to complete your face verification via your smartphone.

Open the mobile app, scan the code andcomplete the third stage of identity verification in the mobile application interface. The procedure is the same, match the outline with your face and do what you are asked to do.

I must say that it is much more convenient to undergo a face check in a smartphone. When the procedure is completed, the verification form in the mobile application will close and the button “Done".

Click it and be sure to click the inscription: “I have completed face verification in the mobile app»On the Binance Desktop Verification page.You will see a message that the documents have been accepted for verification and a message will be sent to your email address about the results. It remains only to wait. The execution time depends on the workload of the system and ranges from one 3 minutes to several days.

Withdrawal limits

Immediately upon completion of registration, you will bethe maximum withdrawal limit is set within 2 BTC in 24 hours. Of course, you can withdraw any cryptocurrency, its amount should not exceed the current value of two digital gold coins.

As of 17.02.By 2021, this limit in fiat equivalent will be approximately $ 102,000, which is more than enough for many users. After passing the verification, the daily withdrawal limit will be increased to one hundred bitcoins. And, most importantly, you can withdraw rubles or other traditional currencies supported by the Binance exchange.

To increase the limit for withdrawal of funds through certain fiat channels, you must go throughaddress verification... That is, provide photographs of documents and payment receipts confirming the place of residence.

Social media accounts

You can link your Twitter social media account to your Binance account. But if your twitter account does not have the status "Authentic»This does not obviate the need for identity verification on the exchange.

Basically, accounts have this statusgovernment and commercial organizations, journalists and public figures. But, the administration of the social platform Twitter plans to resume voluntary authentication of accounts of ordinary users and begin accepting applications this year.

Frequent user mistakes

Please be aware that Binance's internal passport does not pass verification. With its help, you can verify your identity on Payeer or Advanced Cash services, but such a document will not work for Binance.

Need a passport,ID cardorinternational law(regular Russian driver's license with photo). Although if you upload a photo of your internal passport, the system will accept the document for processing, but soon you will receive a message from Binance by email: verification error.

Try to include photographs of documentsclear. You need to undergo a face check in good conditionin a lighted room, without a hat or sunglasses. Sometimes a client's selfie can be very different from the passport photo. In this case, the exchange security service asks you to provide additional documents in order to perform a manual check.

Conclusion

The identity verification procedure on such a reputable exchange as Binance poses no threat to your personal safety. Customer data is reliably protected.

Verified user is much fasterwill restore access to your account if you lose your password and 2FA recovery code. However, if you do not want to go through KYC and the daily withdrawal limit of 2 BTC is quite satisfactory, then you can work anonymously.

Official website of the Binance exchange https://binance.com/

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?