Before trading on Binance, the user needs to register on the platform website.
You can create an account by following the simple instructions:
- Click the “Register” button at the top right of the page.
- Select country of residence.
- Select an account type by clicking “Create a personal account” or an organization account.
- Enter your email address and create a password to protect access.
- Specify the referral ID of the user who advised the exchange (if any).
- Provide consent to email marketing and access to data for marketing purposes or not give it by checking the appropriate boxes.
- Proceed to the next page by clicking “Next” and send the confirmation code by email by clicking the “Send Code” button.
- Paste the code in the provided field and send it.
- Enter your phone number and on the next page click “Send code” to receive SMS.
- Paste the confirmation code in the provided field and send it.
At this stage, the main registration on Binance is completed, the user account is created. However, in order to gain access to the site’s functions and raise transaction limits, it is necessary to verify the identity of the client. This is a mandatory procedure, and the system will offer to do it immediately after registration.
Verification on Binance: what is needed and how to pass
Verification is needed to confirm user data and open access to the functionality of the resource. From August 19, 2021, this procedure is mandatory for all traders. The purpose of its introduction was the fight against illegal financial transactions and money laundering. To verify the data, you need to enter the Binance exchange and wait for the verification page to appear, and then:
- Click “Go now” to open the client profile.
- Indicate citizenship, first and last name, date of birth.
- Enter the postal code, residential address and phone number.
- Select the type of document used for verification. This can be an ID card, passport or driver’s license.
- Take pictures of the document with your webcam and send them.
- Take a selfie to match the face with the image in the document.
- Launch the camera on the computer and scan the face following the prompts of the system.
- Wait for the review of the application for identity verification.
- If your computer does not have a webcam, you will need a smartphone for verification. To pass it, you need to install the Binance app from the App Store, Google Pay, or another software store. After installation, in the verification menu, you need to click the QR code icon in the lower right corner of the form and launch the application. You should scan the code in it, then launch the camera and scan the face there, following the instructions and voice prompts.
When passing verification, it is important to ensure high-quality shooting conditions so that photographs of documents are clear, even and without glare. If the pictures are unsuccessful, the procedure for sending documents will have to be repeated.
After passing the basic verification, the client will be able to deposit and withdraw fiat funds in the amount of $50,000 per day. A full verification of documents “Verification Plus” for advanced users lasts up to 10 days, but usually takes less time. After its completion, the limits for depositing and withdrawing fiat funds increase by $200,000 per day. There is a limit equivalent to $8 million per day for the withdrawal of cryptocurrencies.