There are several reasons on Binance for requiring identity verification. The most important reason is to ensure the security and protection of customers. The verification process helps prevent illegal transactions and protect users' assets.
Importance of verification
With verification, Binance can confirm that the user is indeed who they claim to be. This enhances asset security and reduces the risk of hacking and fraud. Therefore, only after completing the verification does the user gain access to various services and benefits.
The verification process is quite simple. First, you need to go to the Binance website, create an account, and enter the necessary details. After creating the account, you should go through the KYC (Know Your Customer) procedure, which consists of the following steps.
KYC verification steps
Country selection — the user must select their country of residence. Certain restrictions or requirements may apply at this stage.
Uploading a photo of an ID and entering personal information — it is necessary to upload a photo of a government document and enter personal details. Binance verifies the authenticity of the provided information.
After completing the process, Binance verifies the data and makes a decision on confirmation. After successful verification, the user gains access to various services and additional benefits.
Benefits after verification
After verification, the user receives higher limits for trading and withdrawals. There is also the opportunity to participate in various Binance promotions and events. This helps to make trading safer and more profitable.
Verification is also mandatory on the Binance futures exchange. This allows the user to utilize all platform features and trade in a more secure environment.
Binance also provides an additional advantage — reduced trading fees. By registering through the link below, you can get a 20% discount on fees.
✨ Click the link to get a 20% discount on Binance fees
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's account has not had any trades or used Binance products in the last 180 days.
When the invited person opens the link and logs in, a confirmation window will appear.
When the inviter clicks the [Bind Now] button, the binding takes effect.
After completing the verification, the user can also take advantage of various Binance financial products. Especially in futures trading, there is an opportunity to earn high returns.