Beyond your email address and password, you can set up 2FA by enabling SMS authentication or Google authentication. Two-factor authentication, aka 2FA, is a secondary layer of protection on your Binance account. Binance, on the other hand, stays protected and will be able to report any money laundering incidents to the authorities. The only benefit you get to enjoy is the increased withdrawal limit.
#BINANCE ACCOUNT STILL PENDING VERIFICATION#
Taken literally, identity verification is more beneficial to Binance than to you the customer. Peradventure your application to verify your identity is denied up to 10 times within 24 hours, you will have to wait for another 24 hours before you can try again. The second thing to note is that if your verification fails the first time, you can try again 9 extra times within 24 hours.
During the verification process, ensure you do not refresh your browser. It includes filling in your basic info and completing the photo verification. You have a 15-minute window to complete the entire identity verification process on Binance. But hey, you can still trade and withdraw up to 2 BTC without verifying your account. Although it is possible to get approval in a few minutes, it is also possible that you could wait up to a week. The verification time varies depending on how chocked up support staff is. But on the question of how long it takes to get verified on the exchange, there is no one-answer-fits-all response. How Long Does Binance Verification Take?Ĭompleting your Binance verification is actually quite easy. Some of the benefits that come with a verified Binance account include an increased withdrawal limit of up to 100 BTC of crypto daily, increased deposit and withdrawal limits for certain fiat channels, and the ability to trade fiat currencies. Besides, Binance’s withdrawal cap of 2 BTC should be enough for most average traders and investors. Well, unless you have something to hide, basic level verification shouldn’t be a problem. 29 people were arrested in the country in September 2020 in connection with using cryptocurrencies to fund Islamist extremists. To keep tabs on who is sending what and for what purpose, most governments now require exchanges to verify the identity of their customers.Ī clear case study in this regard is the stiffer KYC stance of France towards crypto transactions. The anonymous nature of cryptocurrencies has made them a honeypot for the transfer of illegal funds. Without further ado, let’s dive right in… Why is Binance Verification Important?
#BINANCE ACCOUNT STILL PENDING HOW TO#
In this article, I am going to cover everything from why verifying your account is important to how to complete Binance verification, how long it takes, setting up 2FA to protect your account, and what to do if your verification fails. All you need in this case is an email address.Īn unverified account is perfect for casual investors who are not looking to control large amounts of cryptocurrencies.
In the case of Binance, the world’s largest crypto exchange, users can enjoy withdrawals of up to 2 BTC daily without any verification. While some exchanges may allow customers to enjoy some basic features without KYC, others require some form of identity verification before you can deposit or even trade. Thanks to stricter regulations, it is now almost impossible to use most centralized exchanges without completing your KYC. Please do not file multiple support tickets as this will not speed up the verification process and could potentially delay verification.ĭownload the Binance.US app to trade on the go: iOS | Androidįollow us on social media to stay up to date with Binance.US news and announcements:īinance.US reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.If you are new to the cryptocurrency space, you might have discovered that “Know Your Customer (KYC)” procedures are such a big deal. Please allow us time to review your application. Generally this process can be completed in a few minutes, though in some cases verification may take a few business days. You can also check in on the status of your verification any time from the Basic Info page in your settings. You will receive an email once your account is verified, or your verification application will be reset and you will be asked to resubmit new documents.
Check out our additional tips for success before submitting your documents. We aim to process your account verification in a timely manner and appreciate you providing accurate and valid documents to make this possible. We are excited about your interest in joining Binance.US!
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