After registering an account on Binance, you must complete identity verification (KYC, Know Your Customer) to normally use features like trading, depositing, and withdrawing. Many beginners find this process complicated, but it is actually not difficult if you follow the steps. This article will teach you step-by-step how to complete KYC verification on the official Binance website. Of course, you can also operate on the official Binance APP. Completing verification on a mobile phone is actually more convenient, as you can directly use the phone's camera for taking photos and facial recognition. Apple phone users should first check the iOS installation guide to install the APP.
What is KYC Identity Verification
KYC stands for "Know Your Customer". This is an identity verification process required by financial institutions and trading platforms worldwide. Its purposes are:
- Prevent Money Laundering: Ensure the trading platform is not used for illegal fund transfers.
- Anti-Terrorist Financing: Comply with regulatory requirements for international anti-terrorist financing.
- Protect Users: If there are issues with your account, the real-name verification information can help recover the account.
- Compliant Operations: Binance holds licenses in multiple countries and regions globally and must comply with local KYC regulations.
Simply put, KYC is to let Binance confirm that you are a real, legal natural person.
What are the Restrictions of Not Doing KYC
If you do not complete KYC identity verification, your Binance account will be subject to the following restrictions:
- Unable to Trade Fiat: Cannot directly use fiat currencies like USD or EUR to purchase cryptocurrencies.
- Limited Withdrawal Quotas: Unverified accounts have very low withdrawal limits, or may even be unable to withdraw.
- Unable to Use P2P Trading: Peer-to-peer trading features require completed identity verification.
- Some Features Unavailable: Certain advanced trading features and events are only open to verified users.
So if you plan to seriously use Binance for trading, KYC is a must-do.
What to Prepare for KYC Verification
Valid ID Documents
Binance accepts the following documents for identity verification:
- ID Card: The most commonly used verification document; photos of both the front and back are required.
- Passport: Suitable for users without a local ID card; requires a photo of the information page.
- Driver's License: Some countries and regions support using a driver's license for verification.
Document Requirements:
- The document must be within its validity period; expired documents are not accepted.
- The information on the document must be clearly readable.
- The document must not be obscured, have glare, or be blurry.
Personal Photo or Facial Recognition
Facial recognition is required during the verification process to confirm that the operator is the document holder. So you need:
- A working camera (your phone's built-in camera is fine).
- A well-lit environment.
- Do not wear hats, sunglasses, or other items that obscure your face.
Address Information
The country/region of residence you selected during registration needs to match your document information.
Detailed Steps for KYC Verification
Step 1: Enter the Verification Page
Web Version:
- Log in to your Binance account.
- Click on the profile avatar in the upper right corner.
- Select "Identification" or "Identity Verification".
- Enter the verification page.
APP Version:
- Open the Binance APP and log in.
- Click on the avatar icon in the upper left corner.
- Click "Identification".
- Select "Start Verification".
Step 2: Select Nationality and Document Type
On the verification page:
- Confirm if your nationality information is correct.
- Select the type of document you want to use for verification (ID Card, Passport, or Driver's License).
- Click "Continue".
Step 3: Fill in Personal Information
The system will ask you to fill in some basic personal information:
- Name (must be exactly the same as the name on the document).
- Date of Birth.
- Residential Address.
Special Attention:
- The spelling of the name must be exactly the same as the document, without any discrepancies.
- Fill out the information exactly as it appears on your ID.
- The address information should be as detailed and accurate as possible.
Step 4: Upload Document Photos
Depending on the document type you selected, upload the corresponding photos:
ID Card / Driver's License:
- Take a photo of the front of the ID (the side with the photo and name).
- Take a photo of the back of the ID (the side with the validity period).
Passport:
- Take a photo of the passport information page (the page with the photo and personal information).
Photo Guidelines:
- Place the document flat on a solid color background (white or dark desk).
- Ensure the entire document is in the frame, and all four corners are visible.
- Avoid glare and shadows.
- The photo must be of high clarity; text on the document must be readable.
- Do not use Photoshop or alter the photos.
Step 5: Perform Facial Recognition
After the document is successfully uploaded, proceed to the facial recognition phase:
- The system will open your front-facing camera.
- Align your face with the frame on the screen.
- Keep your face straight towards the camera.
- Follow the prompts to perform actions (like blinking, opening your mouth, turning your head, etc.).
- The system will automatically complete the capture and comparison.
Facial Recognition Guidelines:
- Ensure lighting is adequate and even; do not shoot against the light.
- Do not wear masks, hats, or sunglasses.
- If glasses have severe glare, it is recommended to take them off.
- Keep the background as simple as possible without too much clutter.
- Hold steady and avoid shaking.
Step 6: Wait for Review
After submitting all information, the system will conduct a review. The review process is usually automated:
- In most cases, you will receive results within minutes.
- In some cases where manual review is required, it may take a few hours.
- In rare cases, it might take 1-3 business days.
Once the review is completed, you will receive an email or APP push notification telling you whether the verification was approved.
Common Reasons for KYC Verification Failure
If the verification fails, do not panic. Let's look at common reasons for failure:
Document Photo Quality Issues
- The photo is blurry and illegible.
- The document has glare obscuring key information.
- The complete document was not captured.
- The photo was cropped.
Information Mismatch
- The filled name does not match the one on the document.
- The selected nationality does not match the document.
- The date of birth was entered incorrectly.
Facial Recognition Failure
- The lighting is too dark or too bright.
- The face is obscured.
- There is too much difference from the document photo (e.g., a major change in hairstyle, wearing glasses, etc.).
Document Issues
- The document has expired.
- An unaccepted document type was used.
- The document information is blurry and illegible.
How to Resubmit After Verification Fails
If verification fails, you can usually resubmit immediately:
- Return to the identity verification page.
- Check the specific reason for failure.
- Correct the issue according to the prompt.
- Retake and upload the document photos.
- Perform facial recognition again.
In most cases, resubmitting after correcting the issue will pass. If multiple attempts fail, it is recommended to contact Binance customer support for help.
Security of KYC Verification
Many people worry about the security of submitting identity information. Here is an explanation:
- Data Encryption: Binance uses bank-level encryption technology to protect your personal information.
- Privacy Protection: Your document information is only used for identity verification and will not be used for other purposes.
- Compliant Storage: According to local regulatory requirements, Binance will securely store your verification information.
- No Leakage: Binance has strict data security management mechanisms.
Although KYC involves submitting sensitive information, as a global compliant trading platform, Binance invests heavily in data security.
Frequently Asked Questions
Is there a fee for Binance KYC verification?
No. KYC verification is completely free. Anyone charging you fees under the pretense of "expedited verification" is a scammer.
Can KYC verification be revoked after passing?
In rare cases, if Binance finds issues with your verification information (such as using fake documents), the verification status may be revoked. Normally, this issue will not occur.
Can I use someone else's documents for KYC?
Absolutely not. Using another person's documents for real-name verification is a violation. Once discovered, the account will be permanently banned. Moreover, the facial recognition phase cannot be passed, as the system will compare the document photo with your face.
How often do I need to redo KYC?
Currently, Binance's KYC verification is a one-time process; you do not need to redo it after passing. However, if your document expires or your personal information changes (such as a name change), you may need to update your verification information.
What are the levels of KYC verification?
Binance's KYC verification is divided into Basic and Advanced verification (Verified and Verified Plus). Basic verification only requires document photos and facial recognition to unlock most features and higher trading limits. Advanced verification may require additional proof of address documents to further increase trading and withdrawal limits.