Many people wonder what happens if they do not complete the Binance identity verification process. In this post, we will explore the reasons for Binance identity verification, the time it takes, and what to do if it fails.
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💰 Binance Taker Fee Free, 60% Market Fee Discount MethodReasons for Binance Identity Verification (KYC)
Why is identity verification necessary? The Binance identity verification system was established to protect personal account security and prevent money laundering.
Therefore, if you have created a new Binance account, you must go through the identity verification process.
What Happens If You Don't Complete Binance Identity Verification
Some users find the KYC process tedious and wonder if they can use the platform without it.
While it is possible to register an account without verification, trading, deposits, and withdrawals will be restricted.
If you do not complete verification, you cannot withdraw amounts exceeding 2 BTC.
For these reasons, it is highly recommended that you complete the identity verification process.
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💰 Binance Taker Fee Free, 60% Market Fee Discount MethodBinance Identity Verification Time (Approval Period)
The time required for approval varies depending on the situation, so there is no fixed duration.
based on general feedback:
In fast cases, it can take between 5 to 30 minutes. In slower cases, it may take up to 7 to 10 days.
Ultimately, the waiting period for Binance identity verification status varies by individual.
Reasons for Identity Verification Failure
Why does identity verification fail? There are five primary reasons:
1. Face-ID Mismatch: The face in the photo does not match the ID.
2. Name Mismatch: The name on the ID does not match the name entered during account registration.
3. Nationality Mismatch: The nationality provided does not match the ID.
4. Invalid ID Number: The numbers on the front or back of the ID are invalid.
5. Expired ID: The identification document has expired.
Most failures occur because the photos do not match. When taking a photo of your ID for Binance, ensure it is clear and legible.
Binance Usage Guide
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