No matter how long Binance verification takes, it is a necessary step if you want to trade on the exchange without restrictions.
Binance, being the biggest cryptocurrency exchange by volume, has adopted Know Your Customer (KYC) Verification just like any other company that deals with finance. This is in order to minimize any financial scams like money laundering by using the exchange.
The documents Binance collects and the facial verification they require are to help them get the identity of their users so they can track and confront any scams activities that can take place in their platform.
So, in this post, I’ll walk you through the steps you’ll need to take to speed up your Binance verification. Also, I will provide you with some tips and solutions to some problems you might encounter in your Binance verification process.
Table of Contents
Binance Verification Levels.
Before we talk about how long Binance verification takes, it is very important to show you the levels of verification that obtainable in the exchange.
Depending on the account verification level a user has completed, such a user has a specific withdrawal limit within 24 hours. This withdrawal limit is some time updated but the one I will list below is as it is the time I am writing this post.
This is the first level of verification you must complete on Binance. This is done on the course of signing up on Binance. This is just the email verification or phone verification.
This the level you have to upload your ID card and personal photo. On completing this verification level, you will have access to the following service (though it is updated timely):
This is the proof of Address verification. On completing this level you will have access to the following services (Though is updated timely):
Enterprise verification is reserved for businesses using the exchange. Upon completion, you will have access to the following services (Though is updated Timely):
1.Fiat Deposit & Withdrawal Limits: Up to 2M monthly
2. Crypto Withdrawal Limit: Up to 2M monthly.
3. P2P Transaction Limits: Unlimited
How Long Does Binance Verification Take?
Submitting your documents and facial verification takes a maximum of 15 minutes. This means that for each session you click the “verify button,” you must make sure that within 15 minutes you have uploaded and done your facial capture.
On the other hand, there is no specified amount of time that the review of your document submitted for Binance verification will take. Depending on how clear your document is and how busy the Binance team Team are, reviewing it can take minutes, hours, days, but a maximum of 10days.
You may attempt to complete the balance verification process 10 times per day. If your application is denied up to 10 times within 24 hours, you have to wait another 24 hours to try again.
Tips To Reduce how long the Binance verification takes
Here are some tips to reduce how long Binance verification will take:
1.Make sure the pictures of your documents are clear.
2. When snapping your ID card, make sure it is horizontal.
3. Make sure you have enough lighting when doing your facial capture.
4. Ensure that the facial capture and document upload are completed within 15 minutes.
5. Make sure that you upload the correct documents.
Reasons for Binance Verification
The Know Your Customer regulation adopted by Binance and any other company dealing with financial assets has some purpose, and this is mostly for your own good.
Here are some of the reasons why you should complete your Binance verification.
Binance collects your identity on account verification to make sure no one can claim your account and withdraw your money. As you know, there are many scammers looking for ways to steal money online, but with BINANCE having your correct identity, the chance for these scammers would be reduced.
2. Compliance With Global Financial Regulations
To reduce scams in the financial market, there are global anti-money laundering (AML) and KYC (know your customer) regulations for any financial company, including crypto exchanges.
This regulation is in order to track and purge any person suspected of money laundering (and related scams) according to the law. The government requires that any financial company offering services to its citizens must adhere to this regulation.
3. Access to Binance Advanced services
Once you complete your Binance verification, you will have access to their advanced services, like higher transaction limits and a p2p trading service.
What are the things needed for Binance Verification?
To reduce how long your balance verification takes you, you must provide a picture of the following document:
1. National ID card/international passport/driver’s license
2. Facial Capture
3. Personal photo
4. Proof of Address (For Verified Plus)
How to Complete The Binance Verification Process
In order to access the services they offer and secure your fund, you must stop considering how long Binance verification takes and start the process today.
Here are a few steps on how you can complete the Binance verification process.
Step1: Sign into your Bianance account and click on “Identification.”
On the home page of your Binance account, scroll up and, from the profile icon located at the top right corner, click on “identification”.
Step 2: Choose the level of verification you want to perform.
On the identification page, you will see two options: “verified” and “verified plus.” You must complete the intermediate (verified) verification before going to verified plus.
So, below the “verified option,” click on “start now.”
Step 3: Select Your country of Residence.
By default, at the top right corner, your country of residence would be filled in. If it’s not filled correctly, click on the drop-down and change it.
Then click “Continue.”
Step 4: Enter your personal information.
Enter your personal information exactly as it is on your ID card. Make sure you enter it correctly as it is on your ID card. You won’t be able to change it once confirmed.
Step 5: Select your means of identification.
You can choose from an ID card, a driver’s license, or an international passport.
Then click “continue.”
Step 6: Upload your documents
Follow the instructions on the page to upload your documents. Make sure your documents are snapped clearly and well positioned.
Also, the system will ask for a selfie; click continue to take a selfie and upload it.
Step 7: Click “Continue” to complete the facial verification:
After uploading your personal photo, the system will ask for facial verification. Click “Continue” to begin this facial verification.
While doing it, make sure you have enough lighting and avoid wearing hats, glasses, or using filters.
After completing this level, Binance will review your data for minutes or hours, but the maximum period is 10 days.
What can I do If my Binance Verification Failed?
After uploading your documents and your verification failed for reasons you think are the fault of the verification team. You can contact them to file a complaint using their contact form or chat with them directly. Refer to this page to learn three ways you can contact the Binance team for an immediate reply.
No mater how long it takes for Binance verification, Any cryptocurrency investors should put it as the first thing to do before having to fund his Binance account. Verified Binance Account gives access to higher service option, higher trading experience and above all security of fund. If you encounter any other issue other than what we discussed here, you can always reach out to us for help.