Binance is one of the most popular exchanges in the world, currently operating in more than 190 countries. The exchange is quite popular among traders and investors for its reliability and trustworthiness. Creating an account on Binance is fairly simple, however, one has to verify his identity in order to lift the trade limits.
To simply create an account on Binance, all you need is a valid email address or phone number and you can create an account within a minute or two. However, to enjoy other perks and trading on Binance, you need to verify your identity. Verifying your identity on Binance is quite simple, all it needs is a valid identification document, and if you want to get more secure, you can also verify with an additional document as a proof of address. Here is the step-by-step guide about how to create a Binance account. Let’s start with the basics.
What verification documents can you submit to Binance?
For the verification on Binance, you need to provide a valid ID document. This valid document for most of the users can be among these three options, you can choose the one that you’re most comfortable with.
National ID Card
Steps To Complete Verification on Binance:
Go to Binance, create an account with your email or phone number.
After creating an account, you need to go to Identification Area. This can be done either by clicking on your profile Avatar or you can go to settings > Basic Info > Click on Verify
On the next page select your Nationality
Binance will ask you for some personal info like your name and address
After completion of the previous step, Binance will ask you for further verification AKA advanced verification. This is the step where you have to submit your ID documents.
On the next screen, select the type of document that you want to upload. And upload the front and back of the document (In case of DL or ID card) in the next steps.
On the next screen, it will ask you to take a selfie for photo verification. You can use your webcam for these steps and if you don’t have a good webcam or you don’t use a webcam at all, it’s better to use your mobile phone for all these steps. It will make the Binance verification process easier and less time-consuming for you.
Click on submit button and wait for the automatic system to verify your ID. It usually takes a few minutes, but it can take up to 36 hours in some rare cases, so you need to be patient keeping this time frame in mind.
Why To Get Verified On Binance?
There are certain benefits for those who get Binance verification. In case you get verified by submitting the documents mentioned above, your transaction limit can go up to €5,000/day. And this is not just limited to that, if you also verify your proof of address after completing the initial ID verification check on Binance, you can get an additional perk of transaction limit up to €10,000/day. You need to keep in mind that this transaction limit is for banking and not for Cryptos. The crypto limit for ID-verified users is up to 100 BTC which is more than enough for most of the users. However, if you further want to increase it, you can talk to the Binance support and they will surely help you with the things.
This was all about getting verified on Binance, if you have any further queries, please do let us know in the comment section. Here is a video for your help.
Here is an infographic to show you how Crypto works, btw it has nothing to do with the Binance verification process, it’s just to show the Nerds and curious, how the process of Crypto transaction works.