Binance is one of the most popular cryptocurrency exchanges in the world, and it’s not hard to see why. The exchange offers a great selection of coins, low trading fees, and a user-friendly interface.
One thing that can be confusing for new users is the verification process. Binance has a strict verification process in place to prevent fraud and protect users.
So, how long does it take for Binance to verify?
The answer is: it depends. The time it takes for Binance to verify your account can vary depending on a few factors.
First, let’s take a look at the different types of verification that Binance offers. There are three levels of verification on Binance: Level 1, Level 2, and Level 3.
Level 1 verification requires you to provide your full name, country of residence, and date of birth. This is the most basic level of verification and will allow you to withdraw up to 2 BTC per day.
Level 2 verification requires you to provide additional information such as your address, passport or government ID number, and a selfie with your ID. This level of verification will allow you to withdraw up to 100 BTC per day.
Level 3 verification is the highest level of verification offered by Binance. To be eligible for Level 3 verification, you must have completed Levels 1 and 2, and you must also have traded at least 500 BTC or equivalent over the past 30 days.
This level will allow you to withdraw up to 500 BTC per day.
So, how long does it take to get verified on each level?
Level 1: This is the most basic level of verification and should only take a few minutes to complete. However, in some cases it can take up to 24 hours for Binance to review your application and verify your account.
Level 2: This level requires additional information and documentation, so it can take slightly longer than Level 1. In most cases, Binance will review your application and verify your account within 24 hours.
Level 3: This is the highest level of verification offered by Binance, so it can take up to 5 business days for your application to be reviewed and your account verified.
If you need your account verified urgently, Binance does offer an expedited review service for an additional fee. For Level 1 verification, the fee is 50 USD; for Level 2 verification, the fee is 100 USD; and for Level 3 verification, the fee is 500 USD.
Expedited review means that your application will be moved to the front of the line and reviewed within 6 hours (for Level 1), 12 hours (for Level 2), or 48 hours (for Level 3).
To sum things up, how long does it take for Binance to verify? It depends on what level of verification you need and whether or not you use the expedited review service. In most cases, however, you can expect the process to take 24 hours or less.