If you are new in crypto, you need a Binance account for many reasons. As a student in crypto lessons, one of the CEX (Centralized Exchange) we recommend and use is Binance Exchange.
While some people just gets approved easily, so many others are having difficulties verifying their Binance account in Nigeria. So, I want to help you overcome that challenge and help you understand how Binance Account Verification works and how best to get verified within 24 hours.
This lesson will teach you everything you need to know about registering and verifying a Binance account. It’s a step-by-step guide. So, follow it religiously if you want to get result. You should also join our WHATSAPP and TELEGRAM class if you haven’t joined yet.
✅ Why Get a Binance Account?
Although it’s the biggest and number one crypto exchange in the world, but that’s not even one of the reasons you should have an account with them. Binance is useful for 2 important reasons I will mention below:
?️To buy BNB coin for your smart chain transactions on Trustwallet
?️To sell your crypto profits with ease and instantly
You can see that none of the reasons includes being the biggest exchange in the world. But it’s the best platform to buy BNB coin because the coin also belongs to them. It’s safer and better to buy Binance coin from them. It’s equally cheaper in transaction fee when sending it to Trustwallet.
Another plausible reason is that Binance also owns Trustwallet. So, it’s like sending from Binance to Binance when you send from Binance to Trustwallet.
My second reason is about taking profits, especially if you are in Nigeria. When you want to cashout your crypto profits, you need an exchange that can send the currency equivalent directly into your bank account.
Binance offers P2P (person-to-person or peer-to-peer) transaction, supervised by it – that offers Nigerians opportunity to cash out directly into their bank account.
When you want to sell your crypto on Binance, it offers your crypto to someone on its platform who buys it from you. The person will pay the fiat equivalent to your bank account while Binance will release your crypto to them once you confirmed that you have been paid the accurate amount.
This happens within some minutes. Sometimes in less than 10 minutes this kind of transaction is concluded. Binance leads in this kind of service for the Nigerian market.
✅ How to Register A Binance Account
The registration process for a Binance Account is very simple. Binance registration process starts on the website. If you are using the mobile site, it’s a little more simplified than desktop site.
At the home page you will see a REGISTER NOW button to quickly direct you to the registration page. If it’s your first time visiting Binance website, it will require a confirmation of your country or area of residence.
Due to different laws of business operation in different countries, Binance has different sites for countries to ease off the way of doing business and to customize services for each country or location.
Once you confirm your location you can proceed to create an account. The options available for account creation are:
?️Create personal account
?️Create entity account
Your choice of account creation would determine the requirements and services to be provided by Binance. When you complete the simple account creation steps, you will proceed to account verification.
✅ Important Verification Factor
Binance reserve the right to approve or not to approve based on their requirements. Don’t assume anything until you have completed every process to the satisfaction of Binance system. he process is automated and you can’t bribe or beg or scam your way through.
Also, Binance has no reason not to approve your account if you follow the prescribed process. If you know what verification process seek to do you will not have any problem getting verified.
The reason some people can’t get their Binance account verified includes:
?️No Identification or unclear image of your ID card
?️Poor image or video submission
?️ Different names in your ID and registration
You will be surprised that even though some people have proper identification they are still rejected by Binance. The reason is simple, your image or video submission is very poor or not clear.
If your phone camera is very poor or too old, you should change it or use someone’s else phone camera to login and verify your account. The requirement for video submission is to avoid fraudulently using another person’s documents to register.
The video submission is too important to ignore. And it must be done according to Binance requirement. You must read the instructions given for each submission and follow it to the letter.
✅ KYC – Know Your Customer
The only thing Binance Verification process seek to achieve is KYC. They want to know who their customer is. KYC is not a difficult process. It’s just for identification purpose. Binance just want to know who you are.
In a digital world there is really not many options left for KYC verification than documentation. You are providing your documents to prove your identification. So, Binance KYC or any KYC for that matter seek to identify who you are – period!
If you can prove to them that you are the person in the iD, Binance will approve your account. KYC is actually the most simple process because it all depends on you and not on Binance to approve you.
✅ Binance Verification Levels
Moreover, you don’t need to get all the Verification process right. Binance now offers 2 levels of Verification, let’s see what they are and how to get verify at each level.
Binance is offering the following verification levels:
These levels gives you some privileges. However, the idea of different levels is to make it easier for most people to pass the minimum Verification stage and starts using their Binance account for transaction, while they can upgrade their account to the verified plus to increase their access.
✅ Binance Verified Account
To qualify for minimum Verified Binance account here are requirements:
?️Personal information (Name, email, phone number, BVN (optional), address, etc)
?️Government issued ID card (Drivers Licence, Voters Card, National Identification Number (NIN), International Travel Passport, etc)
?️Facial recognition (current video or picture recording of yourself)
Personal information may include your name, email, phone number, personal identification, BVN (for Bank Account verification if applicable), residential address, etc. These are equally things you can easily provide. Note that your email and phone maybe required to verify them by accepting a code and verifying the receipt of that code on Binance website.
Government ID card can be drivers licence, international passport, NIN, and voters card. Any of these 4 can be used for ID Verification. But for facial recognition you will need to send a video or picture of yourself with that ID card provided.
The basic reason for facial recognition is to confirm your identity with the ID card provided. That you are the actually person sending the documents and it’s you. Note that anybody can claim to be somebody else. But with facial recognition that is abortive.
✅ Binance Verified Plus
Since this is just an upgrade of Verified Binance, the requirement is just one document, the proof of your address. Remember, you gave them an address when entering personal information. Now to fully verify you they want a proof of that address.
This would require government issued documents like utility bill, receipt of purchase of the house, or your bank statement with the address on it. One thing that’s basic about this proof of address is that it must have your name on the document.
✅ When Is Your Binance Account Approved?
Once you pass the first Verification level, which is the Binance Verified, your account is approve to start transacting on Binance app and sites, but with some limitation. At this level as a beginner you can do more than what your beginner experience can allow. So, this is actually okay for you for now.
✅ Binance Account Limitation
Let’s see what you can do with each of the Binance level of verified account – Binance Verified versus Binance Verified-plus. Let’s start with the first one:
Fiat Currency Limits On Binance Verified
?️Deposit limit is $50,000 daily
?️Withdrawal Limit is $50,000 daily
P2P Limit on Binance Verified is unlimited
Crypto Limit on Binance Verified:
?️Deposit limit is unlimited
?️Withdrawal limit is $8 Million BUSD
Fiat Currency Limits On Binance Verified-plus:
?️Deposit limit is $200,000 daily
?️Withdrawal Limit is $200,000 daily
P2P Limit on Binance Verified-plus is unlimited
Crypto Limit on Binance Verified-plus:
?️Deposit limit is unlimited
?️Withdrawal limit is $8 Million BUSD
You can see that the only difference in their Limits is in fiat currency limit, which practical doesn’t concern Nigerians because you can only buy and sell through P2P transaction. So, in reality you don’t need Binance Verified-plus level.
if you take this information into consideration and follow the requirements you will be able to get your Binance approval done in less than 24 hours. Although, Binance can ask for up to 72 hours to process your request.
But if the information is correct and meets the system auto verification, it gets approved without any human verification process. Always ensure you provide the right information.
Most importantly, your names must be the same in all your documents. If you use 3 names, all your documents must have 3 names and must also be presented in the same way or format.
Let me know if this is useful for you. And if you followed this guide to get your Binance account verified also notify me. Believe me, in crypto market you need Binance wallet. They are not number one for nothing.