There are several reasons why identity verification is necessary at Binance. The most important reason is to ensure the safety and protection of customers. The identification process helps prevent illegal transactions and protect customers' assets.
Importance of identification
Through identification, Binance can confirm that the user is indeed who they claim to be. This enhances the security of assets and reduces the risk of hacking and fraud. Therefore, the user can only access various services and benefits after completing identification.
The identification process is quite simple. First, you need to visit the Binance website, create an account, and provide the necessary information. After creating the account, the KYC (Know Your Customer) process follows, which consists of the following steps:
Steps of KYC identification
Selecting a country – The user must select their country of residence. In this process, certain countries may have restrictions or special requirements.
Providing identification and personal data – A photo of a government-issued ID must be uploaded, and personal data must be entered. Based on this, Binance verifies the authenticity of the information.
At the end of the process, Binance reviews the information and then decides on the approval of the identification. After approval, the user gains access to various services and additional benefits.
Benefits after identification
After identification, you can access higher trading and withdrawal limits. Additionally, you will have the opportunity to participate in various promotions and events on Binance. This helps the user to engage in safer and more advantageous trading.
Identification is also mandatory on Binance's futures exchange. This allows the user to access various features of the platform and operate in a more secure trading environment.
Binance also provides an additional advantage: a reduction in trading fees. By registering through the link below, you can benefit from a 20% fee discount.
✨ How to get a 20% Binance fee discount
Existing users can also receive a 20% discount if they meet the following 5 conditions.
The invited person already has a registered Binance account.
The invited person has never accepted an invitation before.
The invited person has not traded or used any products on the Binance platform in the last 180 days.
When the eligible person opens the link and logs in, a confirmation window will appear.
If the inviter clicks the [Bind Now] button, the connection will take effect.
After completing identification, the user can also access various financial products of Binance. Particularly, there is potential for high returns in futures trading.