Binance exchange for cryptocurrency is a Malta-based business established in 2017 by Changpeng Zhao and his team. Within 2 years of operation, Binance was the most popular crypto trading platform based on the daily volume of transactions. It was a record-breaking rise.
If you’re a crypto enthusiast and want to be part of the safest well-known cryptocurrency brand to start your journey you must be using Binance, Binance account creation is mystifying and slow. In this article we will discuss how long does Binance verification takes and why verification is important.
What is Binance Verification?
As a user, you must verify your identity to avoid any kind of fraud, by the help of verification you can get your domain or contact by entering your telegram, email, or WeChat details.
To start Verifying your account after creating your account you can verify it from the profile signup page of Binance, you can also check your verification level from this page, to complete this verification you have to follow some steps.
If you are not a frequent user then you don’t need to verify, but there will be some limitations if your account is not completely verified which might create problems for your account in the future.
Why is Binance Verification Important?
As a Binance user it is important for you to completely verify your account if you want to get the complete exposure and benefits of the app.
- Per Day Limit: When you get basic verification your account will be limited to $300 or 2 BTC, But if you complete your verification you can trade up to $50,000 and 100 BTC per day.
- Unlock Features: Basic Account is created on the spot but complete verification will take time.
- Security Measures: By doing complete verification it will secure your transaction and account from illegal activities if you manage a large amount on a daily basis , but if you are handling a small amount then it is fine to have a basic account.
How Long Does Binance Verification Take?
If you are concerned about how long does Binance verification takes the Verification process of Binance will take almost 15 minutes, they will give you 10 trials in which you have to verify your account and submit all the relevant information.
If you missed all 10 trials you have to wait for 24 hours to try again submitting your information.
After submitting all your information again you are thinking about when your Binance pending verification will be verified by their support team. It depends on how busy they are as sometimes the verification can be done within minutes but most of the time they will take 1 to 10 days to process and verify all this information.
Reasons why you should complete ID verification on Binance
It doesn’t matter how long Binance verification time will take but it will be necessary for you to verify your account to get most of the benefits from the highest trading app. These reasons will show why you should complete your ID verification.
- Binance Google Authenticator: Google Authenticator will give you two factor authentication, to make sure your account is secure.
- Enhanced Security Measures: By verifying your account details and all the transactions will be secured. It will make your account secure from the people who will login from your details by pretending to be you.
- Access to Higher Trading Limits: After verification there are strict rules and regulations to protect against financial crimes, you can have access to trade higher but if you are a small investor then there will be less rules and regulations.
A step-by-step guide – How to Complete Binance Identity Verification
Step1: Login or create your account first, after login to your account there will be User Center – Identification option click on that option to proceed further.
If you are a new user they will redirect you to get verified page directly.
Step2: There will be three options namely, Verified , Verified plus and Enterprise Verification according to your accounts, you can change your country by clicking on the option next to Residential Country/Region.
Step3: After changing your region according to your location you can click on start now, to start the verification process.
Step4: Select the country according to your location mentioned in your ID documents. After selecting click on continue.
Step5: Enter all your personal information asked by the app and continue.
Note: please make sure all the mentioned details are correct as you will not be able to change once it is submitted.
Step6: Now upload a picture of your ID Documents issued by your country, you can verify by passport, Driving license and ID Card. you can refer to the options offered for your country.
Step7: Next follow instructions to upload documents, All documents should be clearly visible.
Step8: After uploading all documents, they will ask you for a selfie, you can select an upload file to upload from your computer too.
Step9: Next they will ask you for face verification, click continue and complete the verification
Note: Don’t wear a mask, hat, glasses etc. Make sure your face is clearly visible.
The Alternate option to complete this step is you can use QR code by your Binance App instead to finish this face verification process.
Step10: Ather all the steps are completed you have to wait as Binance verification takes time, once your ID is verified you will be notified by email.
- Do not refresh your web page during all this process and make sure you can complete all details within 15 minutes.
- Do fill your country or region properly as most of the time Binance verification failed due to this reason.
- Images format should be jpeg or png
Binance verification process is an Important step for both Binance and it’s user, by following all these steps properly you are able to verify your account easily. To get all the benefits of Binance verifying your identity and address so that your transactions will be secure, safe and you will get better services by System.