How Long Does Binance Verification Take?
All crypto enthusiasts and Binance users must complete an important authentication process to comply with Binance Terms of Use.
In case you constantly use the Binance app, then you know how important it is to have full control of your crypto funds.
Nevertheless, using Binance is a two-way street: you need to provide your personal information so you can use all the features of this platform, and they can have greater control of their users.
That’s why it’s fundamental to complete your personal verification, even if you don’t plan to control large amounts of cryptocurrencies.
Read this guide we have written for you to learn more about the following matters:
- How long does Binance verification take?;
- The importance of successfully completing Binance verification;
- Step-by-step guidance during the whole Identity Verification process of your Binance account.
What is The Binance Verification Process?
It is not a secret for anyone that the anonymous nature of cryptocurrencies has caused a lot of controversy during the past few years.
Even though Blockchain technology seems to be working perfectly, it’s vital for Binance that users complete verification efficiently.
Entering standard information and other data is not enough anymore - the big crypto platforms are obligated by law to know their customers and the operations they are making on their websites.
Pro Tip: Other exchanges also ask their users for crypto and fiat verification processes.
For example, if you want to Withdraw Money from Coinbase, it’s fundamental to know important details related to your bank account and ID documents.
Why Should You Complete Identity Verification Process On Binance?
First of all, we must mention that you might choose not to complete Binance verification if you don’t use this platform that often.
Nevertheless, some limitations will appear in your Binance account, which might be a problem in the future.
At the end of the day, comprehending the importance of Binance verification is the key to start doing this process right away.
1. Unlock New and Better Binance Account Limits
You can still send and receive funds using your Binance Wallet Address if you have an unverified account, but there are some important limits that you must get to know.
For instance, you will have withdrawal limits of 2 BTC and $300 (fiat limit), which are lifetime limits.
Besides, basic verification will cause most Binance features to be limited for you.
On the other hand, once the full Binance Verification is completed, you will be able to trade up to 50,000 USD per day, and make crypto withdrawals up to 100 BTC.
Note: Basic level verification is completed the moment you create your account.
Also, consider that the information in this section should not be interpreted as investment advice - this article is meant only for informational purposes for all our readers.
2. Binance Account Security Measures
ID verification is crucial to enhance security measures on your account.
Of course, if you don’t manage large amounts of cryptos, then all should be fine.
Otherwise, completing the ID verification process is a must to prevent illegal activities and possible security breaches on your account.
Keep in mind that Binance is constantly looking for new ways to enhance investor protection against fraudulent processes on the Binance app, which is why it’s fundamental for all of us to create a safe community where trading, selling and buying crypto can take place without problems.
3. Crypto Exchanges Financial Regulations
One of the reasons why Binance verification is a thing is that financial regulators have imposed important laws regarding cryptocurrency in order to protect users and platforms from illegal activities.
Knowing the personal details of their users is a must for AML and Know Your User (KYC) verification laws. ID verification isn’t optional - it’s mandatory.
If you have nothing to hide, then you understand why it’s vital for companies such as Binance to comply with these laws all around the globe.
You can learn more about KYC Binance verification here.
Things to Know Before Starting Binance Identity Verification Process
Now that you know the importance of Binance verification, it’s time to move on with the fundamentals you need to know before starting this process.
It should all be really easy, but just right before you get there, make sure to read these three pieces of advice, so you don’t end up failing during the process.
1. You Have 15 Minutes to Properly Complete the Process
That’s right - the verification time you have it’s 15 minutes.
You can complete it in less than the top verification time, but you need to be more than sure that you are doing it all right.
Besides, there’s a 10 trials per day set for users to complete this process.
If you fail to do this in the 10 tries they give you, you will then need to wait for 24 hours to try again.
2. Binance Google Authenticator App
Activating Google Authentication app (mobile or Chrome Extension) is the best way to ensure the safety of your account.
To enable two-factor authentication, follow these three quick steps:
- Open your account and click on the security page icon. Dropdown menu will open;
- Click on the “Two Factor Authentication” (2FA) option and wait for Binance to give you a verification code or a QR code;
- Activate Binance Google Authenticator (Two Factor Authentication) by clicking on Submit.
That’s how you set up Google Authenticator! Easy peasy.
Set Your Binance Phone Number
You must integrate SMS authentication and voice verification in case something goes wrong in the future.
Nonetheless, some users have experienced problems during transactions with Binance SMS, such as having poor network signal or a call blocker app active.
In that case, be sure to put your correct mobile phone, so you don’t end up messing up with your account.
How Long Does Binance Verification Take?
That’s the million-dollar question: How long does Binance verification take?
Will it be ready in 15 minutes, or do I have to wait for a month?!
So, the answer to the “how long does Binance verification take?” question is that Binance verification time to review all the required documents is between one hour and ten days.
Here, a lot of depends on the country you are resident of.
If you are a resident of the country where cryptocurrency is less regulated, you can get your account verified almost instantly.
In countries where cryptocurrency is heavily regulated, e.g. United States, expect the Binance verification to take up to ten days.
Some people get the final approval within minutes, but that doesn’t happen all the time.
It also depends on how busy the Binance customer support team is.
How to Complete Binance Identity Verification Process
You are now prepared to start with the Intermediate verification requirement.
It’s all really simple, but be sure to read all the steps carefully, so you don’t end up confusing yourself.
Step 1: Go to the User Center
After you log in using your email and account password, go to the User center on the top of the screen and tap on “Identification.”
Step 2: Select “Identity Verification”
You are about to start the process here, so be prepared:
A menu will appear where lots of basic questions will be asked.
Keep in mind that if your residential address isn’t included on the list of allowed countries, then the process will simply finish.
Step 3: Complete All of Your Basic Data
Some vital but very basic information will be asked on the screen.
Once you have answered it all, you can now proceed.
Step 4: Upload Each ID document
Binance will ask you for ID documents, such as passport and driver’s license.
A photo verification process will start where you must upload photos of your IDs.
Finally, they will ask you to complete “Face verification.” In the Facial verification stage, it’s fundamental to upload a completely visible portrait photo:
To complete Photo Verification, you can’t wear hats, glasses or use digital filters:
Step 5: Finish the Basic ID Verification Requirement
So, how long does this verification take? No more than 5 minutes to upload all they ask you for.
Once everything is ready and set up, you can proceed with the following steps.
Residential Address verification
Now, it’s time to go with the Advanced verification stage.
Here, you need to complete an address verification, which is mandatory to fulfill the process correctly.
Step 1: Go to Advanced Verification
In order to complete the address verification step, you must select the right option on the menu as shown in the following image:
Step 2: Complete All the Information Needed
Type in your postal code. Afterward, Binance will ask you to upload a file that actually confirms your real address:
You can use a bank statement document or a utility bill if you please.
Remember that all documents must be clearly visible.
Binance Address Verification Failed: What Happened?
There are three main reasons why the address verification failed:
- You failed to comply with the 15-minute window - this is really important;
- You uploaded incorrect photo or documents files;
- One or more of your documents are not valid.
If you believe that there wasn’t a clear mistake while uploading your data, then you can contact Binance support by clicking here.
It’s crucial to remember that Binance team receive thousands of verification request every single day.
So, it’s necessary that you check everything before sending it.
Remember that you can make this process up to ten times a day, so don’t worry if you fail on your first attempt.
Binance account: verified! That’s all you need to know about this process.
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Binance Verification FAQ
Can I use Binance Without Verification?
Yes, you can. Nevertheless, your account will have some significant limitations when it comes to trading, transferring, or withdrawing your funds.
So, we highly recommend verifying your account.
Can I Withdraw in Binance Without Verification?
Yes, up to 300 USD or 2 BTC. If you want to convert crypto to fiat currency, then it might not be enough.
That’s why it’s fundamental to verify your data once you have a chance.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.