Binance Basic Account Verification: A Step-by-Step Guide
In today's digital world, cryptocurrencies are becoming increasingly popular as a means to store and transfer value. Among the many cryptocurrency exchanges available, Binance stands out for its user-friendly interface, extensive trading options, and dedication to innovation in the cryptocurrency market. However, to enjoy all these benefits, users must first complete their account verification process on Binance, which involves the completion of basic account verification steps.
Binance requires all users to undergo a verification process to comply with anti-money laundering (AML) regulations set by various governments and financial authorities worldwide. The verification process also helps protect both Binance and its users against fraudulent activities or unauthorized access to accounts. In this article, we will break down the steps involved in completing basic account verification on Binance, ensuring you can navigate the process with ease.
Understanding Basic Account Verification
Binance's basic account verification is a simplified version of their standard identity verification process. It allows users to trade cryptocurrencies but limits access to some advanced features that require higher levels of security, such as certain types of margin trading and staking for high-value assets like BNB (Binance Coin). By completing this step, users can trade on the exchange without being subjected to a daily deposit limit in their USDT (Tether USD) wallet, which is set at 100,000 USDT per transaction.
The Verification Process Step-by-Step:
1. Signing Up and Logging In
To start the verification process, users must first sign up for a Binance account if they haven't already done so by visiting the website or downloading the app. Once logged in to your account, proceed to the verification section of the account settings. This is usually accessed through your profile icon located at the upper right corner of the screen on mobile and the top right side on desktop.
2. Choosing the Verification Level
Upon accessing the verification page, you will be presented with two options: "Basic" and "Standard." Since our focus is on basic account verification, select "Basic" to proceed. If at any time in the future, you decide to access features that require higher levels of security or trading limits, the standard level can be chosen.
3. Uploading ID Documents
For basic verification, Binance requires users to upload one of the following government-issued identification documents: a passport, driver's license, national id card, or permanent resident card. The document must clearly show your full name and date of birth with no watermarks, copies, expired IDs, or digital IDs (such as ID photos sent via social media).
4. Submitting the Identity Confirmation Code
After uploading a valid identification document, Binance will send an identity confirmation code to the email address associated with your account. This is to ensure that it's indeed you who has control of the account and not another party. Enter this confirmation code on Binance to verify your identity.
5. Confirming Identity in Real-Time
Binance employs a unique face recognition feature for its Basic Verification level, allowing users to prove their identity by taking a photo of themselves facing the camera while holding up their government-issued ID document. This step is not mandatory but highly recommended as it provides additional security to your account.
6. Completing Your Verification
Upon successfully completing all the above steps, Binance will mark your account as "Verified Basic" in your account settings. At this point, you can enjoy trading cryptocurrencies without any deposit limits on transactions up to 100,000 USDT per day.
Conclusion
Basic account verification on Binance is a straightforward process that ensures user security and adherence to regulatory standards. By following the steps outlined in this guide, users can easily navigate through the verification process without compromising their privacy or personal information. Once verified, you're ready to fully engage with Binance's extensive cryptocurrency trading platform, making informed decisions based on real-time market data and executing trades effortlessly. Remember, basic verification does not limit your access to the full array of services offered by Binance; for that, a higher level of verification may be required in the future as you advance in your cryptocurrency journey.