Binance is one of the largest crypto exchanges by trading volume that provides a wide range of virtual coins for trade. However, since most of the platform’s features are limited to accounts that have been verified, how long does Binance advanced verification take?
Binance advanced verification takes up to fifteen minutes to complete, and you have up to ten attempts per day in case the time runs out. However, the response time is slower, as the platform takes anywhere from an hour to ten days to respond to a request.
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Binance is an incredible platform for anyone looking to get involved with the crypto exchange. However, if you want to experience the full extent of its features, verifying your account is going to be a must.
One of the best things about using the Binance exchange platform is that advanced verification takes only fifteen minutes to complete. However, since you have to finish the application before this period expires, make sure that you have all the necessary information and documents ready.
Thankfully, you have up to ten verification attempts per day, meaning you can restart immediately in case the time runs out.
However, even though you only need fifteen minutes to enter all the necessary data, Binance can take anywhere from an hour to ten days to review and approve an advanced verification application.
The response time can vary depending on the peak period and compliance with government regulations, meaning that users in the US will often have to wait longer than usual before they can find out if their application was successful.
If the request is granted, the platform will email the user to notify them about their newly acquired status and benefits.
While you can still use Binance without completing the verification, you will be very limited in what you can do on the exchange platform. For starters, trading in cryptocurrencies is going to be impossible since your account is going to be restricted to ‘Withdrawal Only”.
More importantly, you’ll only be able to withdraw only a small amount of funds per day. All this basically makes being verified mandatory for anyone who plans on investing on the platform.
Binance accounts have two verification levels, meaning that you will have to complete the lower level first before you can activate the advanced option. On that note, creating a Binance profile will immediately prompt you to set up two-factor authentication (2FA).
This measure allows you to add at least two layers of security to your account right away, including coupling your password with email verification, Google authentication, or phone SMS.
Activating any of these options will immediately notify you when someone logs into the account, allowing you to see whether there was any unauthorized access on your profile.
Once the two-factor authentication is all set up, you are free to continue with the rest of the verification process. If you need any help, all the information you need is in the following few paragraphs.
To start the verification process, log in to your profile, hover over the “User Central” icon, and select “Identification” from the drop-down menu. You can click on the “Get Verified” button directly from the home page if you’re a new user.
Whatever your starting point is, this page should have two sections – “Verified” and “Verified Plus”. If you haven’t already completed the basic level, click on the “Start Now” button underneath the “Verified” section.
The next step will require you to select your country of residence, which will provide a list of all the requirements needed to finish the process. This is used to determine whether the Binance system and policies comply with your local laws and regulations.
Besides selecting a country, you will also need to submit basic personal information, including:
- First, middle, and last name,
- Date of birth,
- Address details.
Make sure that the data you enter is consistent with your ID, as you won’t be able to change it after confirming it.
Once all the basic information has been entered, the next step requires you to provide proof of a valid ID document. Documents accepted by the Binance platform include a government-issued ID card, a driver’s license, and a passport. Although you can add all three, only one is required to proceed to the next stage.
Depending on the ID document you choose to use, you will have to upload photos of its front and backside. Make sure that the images you intend to submit are unedited, clear, and include the entirety of the document. The files also need to be in the correct format (JPG, JPEG, PNG), with a size between 10KB and 5MB.
The final step of this stage includes completing facial recognition, which requires you to scan your face or upload a pre-existing photo. The selfie photo needs to have a neutral expression, with your eyes open, face-centered, and completely visible. This means nothing should cover your face, including hats and glasses.
Don’t forget what I discussed about the ID photos, as the same rules apply here. If you don’t want to bother taking photos, request to complete the facial verification on the mobile app. The exchange platform will provide you with a QR code that you have to scan on the app to finish the facial recognition.
It’s important to note that this action is the last part of the basic verification process. If the request gets approved, your account is officially verified.
Once you’ve officially verified on the platform on a basic level, the “Verified Plus” becomes available, meaning you can finally activate the highest verification level on the Binance exchange platform. This is done by providing proof of address, for which you’ll need to enter all the address details from the document you’ve submitted earlier in the process.
You will also have to upload a document that shows your current address. However, be aware that the only documents accepted on the platform are bank statements and utility bills for electricity, gas, water/sewage, or the internet. More importantly, they need to be issued within the last three months before the verification date.
The same photo rules apply as mentioned in the previous steps, so make sure everything is ok before submitting the file. If your application checks out, you’ll be verified in no time.
There are several reasons why completing Binance ID verification is essential. For starters, being unverified will prevent you from participating in the cryptocurrency trade and limit most of your transactions on the platform.
Another reason why completing the platform’s ID verification is so important is because it adds an extra layer of security to your account, making it much more difficult for someone else to gain access to your profile and steal your cryptocurrency.
Finally, completing the highest form of verification allows you to take advantage of all the features Binance has to offer. With a verified account, you can access advanced trading tools, participate in referral/reward programs, trade on margin, enjoy much better withdrawal and deposit limits, and more.
For an overview of what you gain with each verification level and all the requirements, don’t forget to check out the table below.
|Verified Plus (Advanced)
|– Personal information
– Government-issued ID
– Facial recognition
|– Basic level requirements
– Proof of address
|Fiat Deposit & Withdraw Limits
|Daily – $50K
Monthly – $500K
|Daily – $200K
Monthly – $2M
|Crypto Deposit Limit
|Crypto Withdrawal Limit
|100 BTC Daily
|100 BTC Daily
|P2P Transaction Limit
Address and Complete the Verification Process as Soon as Possible
Binance is an excellent platform for trading almost any cryptocurrency. However, in order to use the full range of its features, you must activate at least the basic verification level. The process can be a little daunting if you’re not familiar with it, but this article I’ve put together should help make things at least a little bit clearer.