If you want to start trading cryptocurrencies on the most popular exchange Binance, it’s natural to be curious about how long will it take to register your account. Binance is a centralized exchange, meaning it complies with the know-your-customer (KYC) regulations and will ask you to provide documents to verify your identity to start trading. That could be considered one of the last steps of creating your account so if you wonder how long does Binance take to verify your registration, we’ve got you covered.
Here you’ll learn a little more about the whole process of registering on this platform for crypto trading, as well as learn how long does Binance take to verify your account and why you have to verify it in the first place. Before you go on and register on Binance, take a moment to learn the basics of the process and what you should look for.
What Is Binance and Why Does It Need Account Verification?
Before we go into further explanations, let’s quickly cover what is Binance (see official website). As mentioned, Binance is the most popular exchange for cryptocurrencies, based on daily trading volume. The platform was created in 2017 by Changpeng Zhao and in 2019 the Binance.US emerged. If you now wonder what’s the difference between Binance vs Binance.US, it’s quite simple – the Binance.US exchange was created to comply with crypto regulations in the US and operate there instead of Binance. That means it may have fewer cryptocurrencies for trading and fewer features than the original Binance.
Binance offers a very big number of cryptocurrencies for trading, more than 600. It provides different trading services and allows users to pay with a variety of fiat and crypto currencies and payment methods. That’s why it comes as no surprise that after a year of Binance’s existence, it became the first crypto exchange by trading volume and has remained solid in that position.
Binance is a centralized exchange. This means that when you make a transaction, a third party will be monitoring it. It also means that the platform will perform a know-your-customer process to verify your identity when you create an account. That’s done in financial services to prove that it’s a real person and not someone creating an account to launder money. To some people, this may sound very difficult, and wonder how long does Binance take to verify your account. Here we’ll go in further detail to answer this question.
However, you should know that if you want to trade cryptocurrencies without having to wait for Binance or any other centralized platform for crypto trading to confirm your identity, you have another choice – decentralized exchanges. There, you don’t have to provide any documents to trade digital assets. Keep in mind, though, that by skipping this part, you’re also exposing yourself to the risk of not having support should something go wrong. If you trade on a centralized exchange like Binance, you may seek their support or the help of a cryptocurrency lawyer if something happens with your money. On the other hand, decentralized exchanges leave full control and responsibility for your assets at your own disposal.
How Long Does Binance Take To Verify – But First Create an Account
Before we discover how long does Binance takes to verify your account, let’s go over how to register on Binance first since you should know how to reach the step of verification rightly. We’ll cover how to create an account on the exchange both on the website, and on the mobile app.
How to Register on Binance Website
- Go to binance.com and click Register
- Enter your email address, and password (at least 8 characters, including one uppercase letter and one number), and enter a Referral ID if you’ve been referred by a friend to register
- Read the Terms of Service and click Create Account
- Complete the security verification by entering the verification code sent to your email by Binance. You have 30 minutes to do that or you’ll have to resend the email
- Your account is complete! Before you can start trading you need to verify your identity, shortly we’ll cover how long does Binance take to verify your account before you can trade.
How to Register on Binance App
- Download the Binance App, open it, and tap Log In/Register
- Enter your email address, password (at least 8 characters, including one uppercase letter and one number), and enter a Referral ID if you’ve been referred by a friend to register
- Complete the security verification step by dragging the slider
- Enter the verification code you’ve received from Binance into your email. Keep in mind you have only 10 minutes to do this, if you need, click Send Code to get another one after the time has run out.
- You’ve completed your Binance account registration! You need to complete identity verification before you can start trading.
You may have noticed that it differs how long does Binance take to verify your email security code if you register through the site and the app. If you make an account on the website, you’ll have 30 minutes to enter the code sent to your email, but if you make an account through the app you have only 10 minutes. After the time for you to enter the security verification code, you’ll have to ask the platform to send you a new code.
It’s worth noting that you may also want to activate the two-factor authentication for your account. It’s essential for you to have it to trade P2P.
How to Complete Verification and How Long Does Binance Take To Verify
You now know how to register on Binance, both on the website from your computer or using the Binance App. But as established, after you’ve registered, you still need to complete a final step to start your Binance trading. That’s the identity verification step. If you’ve reached this step you may wonder how to do it and how long does Binance take to verify your account completely for you to start buying and selling digital assets.
Let’s go over how to complete the verification of your Binance account:
- Log into your Binance account and go to User Center and Identification. If you’re a new user, there will be a button Get verified on the homepage of the Binance website.
- On the Identification page you’ll have three options: Verified, Verified Plus, and Enterprise Verification, each with their deposit and withdrawal limits (this varies depending on your location).
- Click Start Now to verify your account
- Select your country of residents. It should match the ID documents you’ll be presenting to the platform. After that, you’ll see a list of requirements of identification, depending on your country, that you should provide
- Enter your personal verification information based on the requirements and click Continue. Be cautious as you can’t edit the information once entered
- Upload pictures of your ID documents, you can use your ID card, passport, or driver’s license. Follow the instructions and upload clear photos of your documents
- After the documents you’ll need to upload a selfie, clicking the Upload File button
- The next step is to complete the face verification by showing your face to your camera with good lighting and without wearing hats or sunglasses. If you’re using the website of Binance, you can switch to the app for that part
- You’re now done. You’ll have to wait to see how long does Binance take to verify your data to start trading
You should know that you have only 15 minutes to complete the identity verification. Keep in mind that you can try to complete this verification step up to 10 times in 24 hours. If you’ve been denied 10 times, you have to wait 24 hours to try again. During the verification process, you can’t refresh your browser.
How Long Does Binance Take To Verify Your Account?
Let’s say you’ve registered on Binance, completed the identity verification, and now you’re sitting impatiently waiting to start trading and wondering how long does Binance take to verify the data you’ve provided. Don’t worry, you’re almost ready to start buying and selling cryptocurrencies once you’ve completed the steps we’ve described so far. Since Binance provides users with only 15 minutes to complete the final step of their account, it’s natural to wonder how long does Binance take to verify the data that users have uploaded. The short answer:
Binance takes from 1 to 10 days to review and verify your documents.
Now it may seem that how long does Binance verification take is a very lengthy period of time and you will be missing many opportunities. You have to keep a few things in mind, though. You may get your account within the same day as you’ve submitted the data. Most of the time the workload determines how long does Binance take to verify each customer’s account. This means that if there are many people registering at once, you’ll most likely have to wait a little longer to start trading. However, if you’ve hit a time frame where not as many demanded identity verification, it may happen almost immediately for you.
You should also realize that Binance requires that step and takes time to process customers’ documents to provide the traders of the platform with security. As mentioned, you can use a decentralized exchange like Uniswap or PancakeSwap, and won’t be how long does Binance take to verify your account, since they won’t ask for verification at all. But there also you won’t be protected by the exchange if something goes amiss.
Why Do You Have to Verify Your Binance Account?
The whole registration process on Binance may seem a little complicated and considering how long does Binance take to verify your data to start may seem unnecessary to some. However, as we mentioned, it’s done to secure your account and allow only real users on the platform, securing trading for everyone else as well. If you don’t use Binance often or you’re okay with having a limited account, you can skip this part. But if you want to trade cryptocurrencies on the platform for a longer period, here’s why you should confirm your identity no matter how long does Binance take to verify it.
- You can use your Binance wallet address to send and receive funds without limitations
- If you complete the verification process the chance of security breaches on your account lowers
- If you want to legally trade, abiding by the know-your-customer laws, you must confirm your identity
How Long Does Binance Verification Take as a Whole?
Considering how long does Binance take to verify your account, it may be concluded that from the time you register to when you can trade cryptocurrencies on Binance, you may have to wait up to 10 days. Now that would be in the worst-case scenario when many people want to verify their accounts at the same time and Binance has to review their documents at once. If you’re lucky, Binance may verify your identity and account within an hour from you sending the data.
After you’ve completed all the steps of signing up in Binance, and waited out how long does Binance verification take, you can now start buying and selling digital assets, as well as taking advantage of the other perks of the platform. In the end, it may take a little time to register, but since so many people recognized the value of Binance as a top place to trade crypto, it may be worth the wait.