does binance require kyc

Binance Global requires all users to complete KYC verification to access all its services, including trading, deposits, and withdrawals.

Oct 29, 2024 at 07:48 pm

Does Binance Require KYC?

1. Binance Global KYC Policy

Yes, Binance Global (the international version of Binance) requires all users to complete Know-Your-Customer (KYC) verification to access all its services, including trading, deposits, and withdrawals. KYC compliance helps prevent money laundering, terrorist financing, and other financial crimes.

2. KYC Verification Process

The KYC process on Binance involves providing personal information and documents, such as:

• Full name
• Address
• Date of birth
• Government-issued ID (e.g., passport, driver's license)
• Photo of yourself holding your ID

3. KYC Verification Levels

Binance offers different KYC verification levels with varying limits and features:

• Basic KYC: Verifies your name and address, allows for withdrawals up to 2 BTC/day.
• Intermediate KYC: Verifies your identity with a government-issued ID, allows for withdrawals up to 100 BTC/day.
• Advanced KYC: Verifies your source of funds, allows for unlimited withdrawals.

4. Benefits of KYC Verification

Completing KYC on Binance provides several benefits:

• Increased security and protection of your account
• Higher transaction limits and access to all Binance services
• Compliance with legal and regulatory requirements
• Faster customer support response times

5. Countries Exempted from KYC

Binance does not require KYC verification for users from certain countries, including:

• United States
• Canada
• Japan
• China

However, users from these countries may be subject to other compliance measures, such as geographic restrictions or transaction monitoring.

6. Timeframe for KYC Verification

KYC verification typically takes a few hours to complete. However, it may take longer depending on the complexity of your submission and the current processing time.