Binance is currently the largest cryptocurrency exchange by daily trading volume globally. It is a centralized exchange, so it must comply with global financial regulations, including KYC (identity verification) and AML (anti-money laundering) laws. Therefore, identity verification on Binance is now mandatory. The following article learns the time and experience of identity verification to complete Binance verification to save time.
What Is binance Identity Verification?
Identity verification on a Binance account is where users need to declare personal information, including full name, date of birth, address, ID card number…
and download verification documents that match the data. Declare to your Binance account.
Binance verification is how the Binance exchange follows AML and KYC regulations. Binance verification is divided into layers. Each level requires a more detailed proof of identity and gives you access to more features on the exchange. Three levels are the declaration of information, the verification of personal information and the verification of the address.
- At the first level, users only need to fill in the required personal information.
- For 2nd level verification, users must upload identity verification documents (identity card, citizen identification or passport …) and verify the face.
- Address verification is the highest level of verification with the obligation to upload address verification documents that match the information declared at level 1.
Binance Identity Verification Completion Time
Verifying the identity of your Binance account is usually pretty simple. If you have all the required documents ready, it takes about 15 minutes to complete the account verification process.
Binance does not have an exact time to review documents for users. However, if the document is error-free, the verification process is confirmed by Binance in about a few days. Also have a verified account in minutes. And some accounts have to wait up to 10 days for confirmation of the completion of Binance account identity verification.
To complete the fastest Binance verification, the uploaded document must meet the requirements, capture all four angles from above, be bright enough, clear enough, and the correct document type.
Why do you need to verify your Binance identity?
Previously, Binance users were not required to verify their identity. However, as of 2021, Binance’s user identity verification becomes mandatory after opening an account.
If you don’t have a Binance account, open it by following the link below:
There are several reasons why users need to complete Binance account verification. In which the basis for improving security is often mentioned. Account verification prevents hackers from stealing user accounts or attempting to withdraw user funds. Also, having duplicate accounts that complete verification can make it easier for users to recover lost funds.
In addition, Binance is a centralized cryptocurrency exchange, so it must comply with international financial regulations. And one of these regulations helps prevent financial crimes, money laundering. Therefore, the completion of identity verification is also the user’s compliance with international laws.
In addition to the above reasons, Binance’s identity verification allows users to access and use significant transaction limits. After completing Binance Level 3 account verification (Verified Plus), users can deposit and withdraw $200,000 per day, the unlimited volume of crypto deposits and P2P transactions. They can withdraw $8 million a day. If the user does not trade cryptocurrencies in large volumes every day, address verification is not required.
Some time-saving tips on Binance identity verification
To complete identity verification as soon as possible, users must prepare documents for verification. The documents used for verification depend on the level of account verification that the user wants to perform.
- Verify personal information: To verify personal information, you must prepare one of the following documents: identity card, citizen ID card, driver’s license or passport. The photo of the document must be clear and the information corresponds to the information entered in the previous verification phase.
- Face verification: Users who need to use portraits of clear faces do not edit or use beauty software. Suppose the device you are using has a face scanning camera. In that case, users should do it in a place with enough light, do not move too much when the scanner recognizes faces, scan the face at different angles according to the instructions above the screen.
- Address verification: Users can use different address verification documents, including bank statements, credit card statements, utility bills (electricity, water, gas, internet, etc.), tax reports … The documents used to verify the address must have the full name and address corresponding to the information filled in in the initial verification steps and see knowledge of the unit it provides confirmation. The photo of the address verification document must use the PDF format, transparent, total at four corners, without modification. In addition, these documents must be issued within the last 90 days.
- After carefully preparing identity verification documents, users perform a quick verification process in 15 minutes. When verifying your identity, make sure that the Internet is working properly. If it is not completed within 15 minutes, the user must try again. Each person has ten attempts to complete the verification process. If they are still not successful, they have to do it again after 24 hours.
- We recommend that you enable 2-level SMS security before performing identity verification. After completing identity verification, the user can enable 2FA using Google Authenticator.
How to verify Binance account?
To verify a Binance account, users must sign in. Then, go to the account management tab and select [Identification].
In the following steps, the user takes turns performing operations based on the process that appears on the screen.
Binance account identity verification failed
There are several reasons why Binance’s identity verification fails, including:
- Users perform verification steps to upload documents to Binance for too long, over 15 minutes.
- Invalid upload document format.
- One of the uploaded documents is not accepted because it is not the correct document or the photo is not clear, it has full corners …
- The Internet is so weak that the document fails to load.
If identity verification fails, the user can try again and resolve it in several ways:
- Capture user photos and verification documents. Make sure the photograph is clear, well lit and unobstructed. Users should place photos taken on a background of one color to see clearly. The documents must be by the due date, in particular the document that captures the proof of address that must be issued under 90 days.
- Users must convert document captures to PDF or accepted files to ensure that there are no formatting errors.
- It is recommended to perform Binance verification when the Internet is stable to ensure that there are no errors when uploading documents to ensure the completion of the process within the allotted time.
- If you try again and continue to receive the error, users should try on another device and use a different internet network.
- If you have tried all of the above options but Binance’s identity verification fails, try contacting Binance Support for assistance. Remember to videos and capture your verification process as proof to make the Binance support process more convenient.