![]() ![]() If you are looking to take advantage of the platform’s products and services and wondering about how to complete Binance’s necessary verification requirements, read along.Ĭreate Binance Account Binance Personal Verification tiersīinance adheres to KYC requirements and anti-money laundering (AML) regulatory guidelines in order to provide a secure and regulatory-compliant platform to its customers.īinance provides three distinct personal verification tiers, which provide different levels of access to the platform’s features, mainly in the form of differing crypto and fiat deposit and withdrawal limits. There are too many Binance features to fully cover in such as a short overview. Binance Earn is designed for those who are looking to earn passive income with their crypto and offers a plethora of staking and yield aggregating options. The exchange also launched Binance Smart Chain (BCS) that rivals Ethereum with its smart contract functionality with the benefit of much cheaper fees and almost instantaneous transactions speeds. Binance Liquid Swap brings the Automated Market Maker (AMM) principle into the centralized platform. ![]() Binance houses a token launch platform called Binance Launchpad, which allows users to invest in upcoming initial exchange offerings (IEOs). However, Binance’s suite of products and services includes much more than just the crypto exchange offering. Since being founded in 2017, the Binance exchange offering has grown immensely and now hosts more than 300 coins and over 1200 trading pairs while also topping the charts of cryptocurrency exchanges with the highest daily trading volume. When most people hear about Binance, they immediately think of the cryptocurrency exchange, and for good reason. The policy change became effective immediately for new users while existing users have until October 19 at 00:00 AM (UTC) to update their personal information and provide the necessary data to pass the KYC requirements. Now, the world’s largest crypto exchange has decided to take a step further and made the KYC process even more stringent. As a response, the exchange first reduced withdrawals for users with basic verification from 2 BTC to 0.06 BTC. Over the course of the year, Binance has repeatedly come under scrutiny from regulators. Starting with August 20, Binance implemented new changes to its Know Your Customer (KYC) policy, now requiring all its users to complete the ‘Intermediate Verification’ process in order to access the full suite of Binance’s products and services, including cryptocurrency deposits, trades and withdrawals. ![]()
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