With the rise in the popularity of the cryptocurrency, there is a rise in the use of digital trade. This has raised the demand for security as well. This is the reason since the exchange is one of the most popular exchanges in the world. One of the processes is called the Binance Identity Verification which is used for security purposes.
Trading the cryptocurrency on any platform can be dangerous. It is always better to trade on the exchanges which take security as one of the top priority. This is the reason binance is included in top market caps of the cryptocurrency world. Binance is the exchange which came into the existence in the year 2013 and since then it is gaining popularity. It is providing its services all around the world and they are enjoying the benefits. You can see the seriousness of the exchange by considering the action it takes for it. The actions it takes are:
- ID Verification process
- Two-Factor Authentication
- Cold Storage
In this article, we are going to discuss Binance Identity Verification.
Binance Identity Verification
When you start trading there is a need for the user to verify his or her identity. This process is very important for security purposes. As this makes the user secure its account from the hackers and cons who want to steal your money. In this process, you have to submit your ID card and the picture of yours to verify the authenticity.
You have to complete the verification process if you do not then you will not be able to trade on the exchange. You can consider it a necessary step to trade on the binance. The thing you have to keep in mind is that you have to complete the verification process within 15 minutes. If you are not able to do that than your process will be suspended and you can try again after 30 minutes.
When you are going through the process you have to submit ID card and picture but there are some other things also which you have to keep in mind. If you do not follow the procedure then there is a chance that you will not be able to go through the procedure. Here is the list of things that are important to check before submitting your ID card and Picture:
- The picture you are submitting should be in JPEG format.
- The photo you will be submitting should be in high resolution and clear.
- There should be no manipulation in the image and the ID card.
- The ID card must be original and valid.
- Your face must be visible in both the ID card and the picture.
- There should be no other person in the Picture you are submitting.
- There should be a handwritten note saying “Binance” and have a date on it.
When you submit the ID card and Picture for the verification you have to wait as will not be verified immediately. The usual time taken by the exchange for the verification can range from 2 days to week.
If you are going through the Binance Identity Verification process than you should wait and hope that it gets approved. Because it does not then you will not be able to trade on the platform and has to go through the process again.