Account verification is a common practice across decentralized and centralized exchanges. But how long does Binance verification take? Normally, it is a simple process that doesn’t take long to complete, but its benefits are lifelong. So, if you’re wondering how long it will take for your Binance identity verification to take effect, here’s an article that summarizes it all.
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What Is Binance Verification Process?
Binance identity verification refers to the process of obtaining an account holder’s details and fact-checking them to ensure the account’s legitimacy. This process is part of legal regulations that serve as an anti-money laundering strategy. ID verification also ensures Binance remains in line with global regulations that regulate the crypto industry.
Binance Identity Verification Levels
On Binance, verification is divided into a verified and verified plus. Depending on a user’s region of residence, the verified option or both options may be available.
Basic level verification, known simply as “verified,” requires Binance account holders to submit basic information like their names, identification documents like an ID, international passport, or driver’s license, and address verification. The full extent of this requirement list is covered in the section on how to “Complete Basic Verification on Binance” later in the article.
There’s also the verified plus option, enabling users to unlock higher trading limits of up to two million dollars daily. Users must successfully complete their basic verification before they embark on a verified plus application. To apply for this level of verification, one must provide proof of address. Binance address verification will depend on the applicant’s region of residence.
Notably, these are the main personal verification categories available on Binance. With Binance U.S. – the American version of the platform may have varying categories, like basic, intermediate, and advanced verification. It may also include other non-personal verification levels like enterprise verification where companies upload documents on business details and address verification to verify organizational Binance accounts.
How Long Does Binance Verification Take in 2023?
The identity verification process, in this case, the most basic identity verification, is simple. The time it takes to complete verification depends on the kind of verification and the region where the applicant comes from. On average, once you submit all the required personal details, Binance verification takes anywhere between one and ten days to get a Binance verification badge.
Typically, the identity verification plus process takes three to ten days, while basic verification takes two to ten days. On the other hand, enterprise verification takes a longer time to complete. This is because of the complexity of verifying a business’ details. The shortest time it takes to complete this verification is five days. However, this may spill over to a maximum of ten days.
The best part, however, is that you don’t need to keep guessing which stage of your account’s identity verification process is in. During the waiting period, Binance constantly sends updates notifying applicants whether their verification process is under review or has failed.
What do I Need to Have Before Applying for Binance Verification?
The verification process has several requirements. Here’s a list of what you need before you embark on applying for verifying your account on Binance.
- A Binance account: You will need to open a new account if you didn’t have one before. If you have one, you need to be able to log into it.
- An operational phone number: You need to have an operational phone number where Binance can send the verification SMS.
- A working front camera: The device you use to apply for verification needs to have a functional webcam or front camera. This will come in handy during document verification.
- Your original ID, passport, or driver’s license: You will need one of these documents to complete the verification process.
- At least 15 minutes of uninterrupted time: the application takes approximately 15 minutes. Although you can complete it in less time, you need to ensure you have 15 minutes to spare. Don’t leave the application midway because when the time lapses it will be considered a failed application.
How do I Verify My Binance Account?
The Binance verification process is a two-step process that involves creating a Binance account and completing basic verification. Optionally account holders can get advanced verification. Let’s explore the step-by-step guide for each of these processes.
Step 1: Create a Binance Account
Creating a Binance account is the first step to getting verified. Here are the instructions on how to create a Binance trading account.
- Go to the Binance website and click on Register at the top right side of the homepage.
2. Enter the email address you intend to use for the account and fill in your password. You can also opt to create an account using your Apple ID or your Google Account.
3. If someone referred you to the platform, enter the referral code they gave you in your Referral ID section.
4. Read and agree to Binance’s terms and conditions, then click on Create Account to create your account.
If your sign-up process is successful, Binance will send you a verification email or an SMS alert with a verification code. Follow the instructions in the email to verify the account.
Alternatively, enter the code from the verification SMS on the code verification page, and your account will instantly verify if the code is correct.
Step 2: Complete Basic Verification on Binance
Once you set up your account, you can access basic Binance functions and limited trade. The only way to scale up your account’s functionalities is to complete the basic verification.
Here’s a walkthrough on how to complete basic verification on the Binance web app and mobile Binance app. It’s important to note that the steps below work for Binance users in Binance-supported countries other than the U.S. For Binance U.S. users, there are other requirements and steps to follow on the Binance U.S. platform to get verified.
- Login to your account on your browser, navigate to the drop-down menu on the left and click on Settings.
- On the tab that opens click on Identity Verification.
- This will lead you to the Personal Verification page, where you will find the verified or verified plus options, depending on your selected region of residence. Select the Verified option by clicking Start Now.
4. A pop-up will appear with fields to enter your residential address, your official first, middle, and last name, and your date of birth.
5. Enter the details correctly in their respective fields and click Continue to continue with verification.
6. This opens a new Document Verification pop-up. Select the id documents you would like to submit and click Continue.
7. Read the instructions on the id verification tab that appears and click Continue once you are ready.
8. Allow Binance to use your device’s camera to scan your selected document and click continue.
9. You will see a Document Uploaded pop-up appear, click the yellow Continue button at the bottom of this pop-up.
10. Complete the Liveness Check for facial verification and click Continue.
11. After you finish this successfully, a pop-up will notify you of your application’s status.
This marks the end of the last verification stage. After this point, you will get an email with one of the three responses discussed below.
Successful: This response appears on a new Identity Verification Successful screen. It notifies you that you now have the perks that come with a basic Binance verification. With this confirmation, you can add your preferred payment method, explore advanced Binance trading features and withdraw at most $50000 every day.
Under review: An under review message indicates that your submitted verification details are pending. You can also get this message if you didn’t submit documents as instructed, if your face verification fails or if you miss a step of the authentication process.
If your verification is approved after the pending period, you will receive an email confirming the same. If not, you can access the site after three to ten business days to confirm your application’s status.
Unsuccessful: Binance’s unsuccessful response shows that your account’s verification failed. Verification fails mostly due to submitting incorrect personal details, skipping a verification stage, or failing to submit all the required documents. When you get this response, it will come with a Try Again button that allows you to restart the application process. Alternatively, you can contact customer support for a guide on how to reapply.
Why Should I Get Binance Verification?
It’s important for crypto traders on platforms like Binance to Complete ID verification processes. The Binance verification process is a requirement that the platform has to remain compliant with global financial regulations, implemented laws from financial regulators, and security measures.
Routine account verifications also ensure that existing users have sufficient measures to enhance financial security and transactional benefits. Here are some of the perks of getting Binance verification.
1. It Raises Your Withdrawal Limits
The higher you go up the verification chain, the more funds you can withdraw from Binance in a day. While non-verified users can only withdraw $1000, verified Binance account holders can withdraw $50000.
If these accounts complete the verified plus verification successfully, this amount can go up to two million dollars daily. For the advanced verification stage on Binance U.S., users can even get an unlimited lifetime fiat withdrawal limit.
2. It Secures Your Account From Activity Suspension
When you log in to your Binance accounts from different networks, the platform picks this up as suspicious activity. For verified accounts, Binance can realize that the accounts are linked.
However, for unverified accounts, Binance often flags and suspends all transactions until the account holder can verify ownership. To prevent this, users need to undergo identity verification to ensure the platform recognizes all their accounts.
3. It Makes Your Account More Credible
A Verified account may have higher credibility than an unverified one. This is important when trading because most traders prefer trading with verified accounts over unverified ones.
Binance Verification-FAQs
1. How do I know if my Binance is verified?
You will know your account’s verification status through an email after completing the verification process. However, you can check on it by clicking the Profile icon on your account’s dashboard.
2. Why is Binance taking so long to verify?
Your Binance verification may take longer to be approved because of the region where you reside. It may also take a while because the platform is counter-checking some of your details. Either way, the account verification process shouldn’t go beyond ten days without feedback. If this happens, you can contact customer support.
3. How long does Basic Binance U.S. verification take?
Binance U.S. verification takes more or less the same time frame that Binance does. Basic identity verification could take between a day and three days.
On the other hand, intermediate verification may take 3-5 days.
4. How long does Binance advanced verification take?
So once you have the basic verification set, you can decide to go for advanced verification by just going through a few more steps. With advanced verification, you will have access to everything Binance.US has to offer. Binance advanced verification takes around 5–10 days for you to be verified.
