Binance verification is meant to last just 15 minutes. Many people, however, often face problems during the verification process.
Yes, we all have those privacy buffs who think that everything should be semi-anonymous. The truth though is that verification allows for cryptocurrency exchanges to meet their legal obligations.
Also, Binance has a 2 BTC withdrawal limit on unverified accounts. This is in place to combat money laundering by criminals. The pseudonymous nature of cryptocurrencies has made trading cryptocurrency tokens to become a prime method of moving illegal funds.
Binance Verification is Easy
Binance verification like other processes is meant to be a walk in the park. But people often aren't able to follow the laid down rules for the verification to occur seamlessly.
Like other cryptocurrency exchanges and financial institutions, Binance has put in place Know Your Customer (KYC) measures to ensure everyone's safety.
The great thing though is that getting verified is a walk in the park. You just have to follow a few easy steps.
Sign up First
First of all, you need to sign up and create an account with Binance. When signing up, make sure you complete the captcha. Once you have signed up you have to activate your e-mail. If the e-mail activation link doesn't arrive in your e-mail address, Binance can resend it again.
Once your account has been activated and you have logged in, you will have to complete the two-factor authentication. The 2FA exists for the security of the account holder.
2FA allows for extra verification of actions to protect users' funds. There are two kinds of two-factor authentication. Google two factor authentication works with most mobile phones and it has chrome desktop browser extensions. SMS authentication works with a simple code that is sent to your phone.
Binance allows for performing a lot of its operations without 2FA enabled. However, identity verification won't happen without 2FA activation.
Once 2FA is activated, identification is a breeze. Getting to the identity verification page is simple. The buttons on the navigation bar have a security tab in one way. The prompt to increase account security is another quick way to get this done.
Once you get to the identity verification page, you will be given the option for both personal and enterprise accounts.
If you are verifying a company, choose the enterprise. If it's just you, then you choose the personal button. You then follow the steps to get verified. And they are quite easy.
First, you enter your personal information. Your first name, last name, and date of birth are first entered. You then enter your address. After that, you upload your government-issued ID.
Once you are done uploading you can take a picture of your face with your phones' camera or your webcam. You could also upload a passport picture stored on your laptop or phone.
Binance will then compare the two using an automated process. Then you will have to use the Binance app to scan the QR code once this is done then you get verified.
While there are other options on the desktop for the QR code, they can be difficult to implement. If you get this right, you can be done in 15 minutes. It is that simple.