Binance is a cryptocurrency exchange that offers a wide range of account options to meet the different needs of its customers. In addition to providing trading accounts for individual clients, Binance also allows clients to open a Binance business account with qualified clients.
What is a Binance business account?
A Binance entity account (or business account) is a Binance account owned by a company (company) or legal entity. Users can use many services and enjoy special offers only for business customers with a business account.
Some of the services for corporate customers include:
- Binance Custody: Binance’s custody service provides a secure and robust, regulated and compliant hosted crypto-asset custody platform.
- Sub-accounts: This feature allows institutions to set up multiple trading accounts within a single master account with clearly defined access and control parameters. This sub-account will connect the investor and the company for asset management purposes. Sub-accounts offer investors flexibility in asset allocation and account registration, entrust trades to a professional team of traders and enjoy VIP fees, and allow companies to trade more flexible fund management while protecting trading strategies, orders and transaction history.
- Broker Program: This is a program that allows brokers, exchanges, trading robots, etc. they can take advantage of the API to mine and use many special functions applicable to spot and futures contracts.
- Floating API: This feature helps ensure compatibility and seamless connectivity to all market data and services, including REST and WebSocket. The private key API is available for all accounts.
- Reporting: This service offers various reporting services, including account statements, Spot/Futures order placement and transaction history (downloadable) and offers solutions for financial audits. Accounts, filing tax returns, and certification returns to meet various customer reporting needs.
How to open a Binance business account?
To open a Binance business account, visit the Binance homepage by following the link below:
- Click to select Register
- Then choose to sign up with an email or phone number, or use an existing Google or Apple account.
- Then, select the country where you live and get proof of identity.
Click Create Entity Account to open an organizational account.
- Enter the email (or phone number) and password for the account. The account and phone number you use must never have been registered for a Binance account.
- Check the two empty boxes to accept Binance’s terms. The empty box to request to receive an email from Binance can be checked or ignored.
- If you don’t click to open an account via the link above, enter your referral ID: 152871883
- Then click Create Account to complete.
- Therefore, the opening of a Binance account is completed. Users must verify their email and phone number, enable 2FA, and verify their identity to use a Binance account.
Verifying the identity of your Binance company account
To verify identity, users must first enable the 2FA security feature for the newly created Binance account. Sign in to your Binance account, select Profile, then Identification, then click Verify Entity to get started.
- Select your country of residence, business account type, and click Start Verification.
- Enter the account holder’s basic information and click Next.
- Upload documents proving the legal entity of the company or organization that owns the account and select Next
- Confirm and enter your Fiat account information, then click Next.
- Enter the information of the parties involved and upload the required documents, including the personal information of the Directors, Beneficiary Owners and Authorized Merchants.
- Select the main trader to perform facial verification and press Confirm.
To verify the face, users need to do it over the phone.
- Open the Binance app to scan the QR code and perform face verification as required.
- Once done, click on the screen icon at the bottom right corner of the Binance desktop window to finish.
- Then, click on I have completed this on my phone.
Read and click confirm Binance’s regulations. Once completed, Binance will review the application and notify you once the review is complete.
Conclusion
Below are instructions for opening and verifying a Binance business account. If the verification document is denied, the user clicks Edit Info to view the relevant reasons for rejection. If your application is rejected, please resubmit your application, reviewing the reason for the rejection. Binance will prioritize your new application within seven business days.