В Binance объяснили, как россиянам избежать блокировки кошелька за рубежом
Криптобиржа Binance ограничит доступ к аккаунтам только тем пользователям из России, чей баланс превышает €10 тыс. Проживающим за пределами страны россиянам необходимо это подтвердить, тогда их активы останутся нетронутыми. Об этом 22 апреля RTVI сообщили в компании.
«Гражданам России, проживающим за пределами России, необходимо пройти проверку подтверждения адреса (верификация с предоставлением подтверждения адреса — Proof of Address). После подтверждения адреса ваш аккаунт останется незатронутым и активным», — рассказал представитель Binance.
В компании пояснили, что после введения пятого пакета санкций Евросоюза против России Binance «обязана ввести ограничение предоставления услуг» для граждан России, как физлиц, так и юрлиц. Ограничения коснутся аккаунтов, у которых баланс криптовалютных активов превышает €10 тыс.
«Пользователям аккаунтов, попадающих под это ограничение, будет доступна только функция вывода средств. На этих аккаунтах будут ограничены возможности ввода средств и торговли», — сообщил представитель биржи.
В Binance отметили, что лимит распространяется на все спотовые, фьючерсные и депозитные кошельки, а также активы в продуктах Binance Staking и Binance Earn.
Накануне Binance отстранила от торгов пользователей, которые находятся в России и имеют на счетах активы свыше €10 тыс. В марте биржа заявляла, что не планирует уходить из России, но будет соблюдать введенные санкции, следя за тем, чтобы они не коснулись «непричастных пользователей».
С 10 марта Binance перестала принимать российские карты Visa и Mastercard. При этом биржа не стала блокировать кошельки российских пользователей и компаний и оставила возможность вывода средств через свой P2P-сервис, на котором обмен происходит между пользователями.
Binance — крупнейшая криптобиржа в мире. По итогам 2020 года Binance объявила о среднем дневном обороте $3,88 млрд.
Proof Of Address Binance
Any digital or virtual currency, also known as cryptocurrency, can be abbreviated to crypto. To ensure that transactions are secure, cryptocurrency uses cryptography as a means of security.
Cryptocurrencies do not have a regulating or central issuing power; rather, they depend on a decentralized system to record transactions and issue new units. It doesn’t depend on banks to conduct transactions.
So what does it use? It depends on a peer-to-peer system that allows anybody to send and receive payment anywhere. This currency exists purely as digital entries and is recorded on an online database that describes specific transactions.
Every transaction made with cryptocurrency funds will be recorded in the public ledger. Each owner of a cryptocurrency has their funds stored in a digital wallet.
Cryptocurrency’s name is derived from its use of encryption to verify and keep transactions. This is why cryptocurrency can only exist in the digital and virtual space, as it uses encryption methods that only computers can understand.
This advanced coding is used to store and transmit cryptocurrency data. It provides security and safety while transactions between wallets and public ledgers take place.
Bitcoin was the first Cryptocurrency and was established in 2009. It is still the most well-known cryptocurrency today. It is not the only cryptocurrency. Some others include: DogeCoin, Ethereum, BNB (Binance Coin), Tether, Solana, and Polkadot.
To trade or exchange these currencies, one would need to use the services of a crypto exchange or digital currency exchange (DCE).
A Cryptocurrency exchange is a business that allows customers to trade cryptocurrencies and digital currencies for other assets like other digital currencies or fiat money.
Crypto exchanges have functions that are similar to online brokerage platforms. You can use them to purchase and sell digital currencies or tokens for various cryptocurrencies.
Crypto Exchanges accept wire transfers and credit card payments in exchange for digital currencies.
One such dedicated cryptocurrency exchange is Binance.
Binance and Overview Proof Of Address Binance
For those of you who prefer a more visual experience, here is a video review from Beau Troxclair on his YouTube channel 0xBeau. You can still read our article for a complete overview of Binance.
Binance is still the best cryptocurrency exchange in the world when it comes to cryptocurrency trading. It has the highest trading volume of any crypto exchange by offering users the most cryptocurrency trading pairs.
Binance was founded in 2017 by Changpeng Zhao (“CZ” Zhao). It was initially based in China but was quickly moved out of the country due to crypto restrictions getting stricter and stricter. Since then, it has moved from Japan and Malta but did not have a permanent place to call home.
That said, there has been news about the company signing a memorandum of understanding with Bermuda and Malta, where it could finally find its home base. Proof Of Address Binance
Binance’s popularity was due to its user base who liked the low fees, availability of cryptocurrencies and innovative products. The platform currently offers many crypto-based products.
From Binance, you can avail of such services as exchange, earn, staking, derivatives, loans, payments, credit cards, NFTs, and more.
Binance also has its set of unique tokens and cryptocurrencies. One of which is BUSD, a stablecoin, and the other is BNB which is known as a strong performer due to its low fees.
However, Binance has its problems and dark sides.
The United States Department of Justice (Internal Revenue Service) investigated the company in 2021 for money laundering and tax crimes.
The Financial Conduct Authority of the United Kingdom ordered that the platform stop all regulated activities in June 2021. However, this ban had a limited scope and non-registered companies can still interact with UK customers.
Earlier that year, it was set up to launch its own digital asset marketplace in Britain, but it withdrew this application due to not meeting anti-money laundering requirements.
Also, in the same year, Binance was said to have shared client data, including names and addresses, with the Russian government. The Russian government justified this as a way to help them fight crime.
Binance Perks
Large Crypto Selection
Given that the company is among the biggest cryptocurrency platforms in the market. Hence, it is no surprise that many cryptocurrencies and other digital currencies are available. You can get decentralized finance tokens (DeFi), stable coins, alt currencies, and other popular cryptos.
Here are some examples:
- Binance Coins (BNB).
- VeChain (VET)
- Harmony (ONE)
- VeThor (VTHO).
- Dogecoin (DOGE).
- Matic Network (MATIC).
For those who want them, Binance also offers and support for the more popular cryptocurrencies such as:
- Dash (DASH)
- Compound (COMP).
- Bitcoin (BTC).
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Cosmos (ATOM)
Low Fees
No platform offers trading currencies and tokens for free. Binance is a trading platform that offers deals that are often as good as free. Comparable to other cryptocurrency exchanges, which charge commissions and fees, this is quite a difference. So far, the highest spot trading fee is 0.1%.
The platform employs a maker/taker fee structure, and fees will vary depending on trading volume and Binance Coin (BNB) balance. As a rule of thumb, the higher the volume of your trade, the lower the fees your trades are subjected to. Proof Of Address Binance
What’s more, is that users can also get fee discounts for some services. These include:
- Using Binance (BNB) coins in trades
- You can become a Very Important Person (VIP) by trading certain assets.
That said, Binance users are still subject to other fees. Different fees will apply depending on which type of withdrawal you make and what payment method you use. As a sample, you refer to the chart below
- Wallet
- Debit cards
- ACH Transfer
- Wire transfer
- Crypto Conversion
- Trades
- Buy/Sell Crypto
- N/A
- 4.5%
- Free
- $15 for U.S. Customers
- N/A
- 0.00% to 0.1%
- 0.50%
We can discuss more about fees in a later section.
Regulatory Attention
As covered in the overview, one of Binance’s main drawbacks is that it has been in the crosshairs of some countries. Major countries that have it in for Binance include Japan, the United Kingdom, Canada, Singapore, and Thailand.
The United States authorities are investigating the platform for potential money laundering, tax evasion, and even insider trading. Binance has not been charged and no criminal charges have been filed. Should anything come out of this, only time will tell.
In response, Binance has taken steps to strengthen its compliance team and keep regulators onside. However, this could prove to be a difficult endeavor as most of the products that make Binance attractive to customers are also the ones attracting regulatory attention.
Not Available in the U.S.
In response to regulations targeting Binance’s business in the United States, they had to build a separate platform for U.S. customers called Binance.US. This U.S. version of Binance has fewer features and cryptocurrencies offered.
Binance.US also trades over 120 cryptocurrencies and does not offer futures trading or leveraged token. Also, it lacks availability as it is not available to the whole country. It’s unavailable in Hawaii, New York, Texas, or Vermont.
From then on, you will have to wait for an email from Binance to ensure that your account has been verified.
Trading Experience
Binance provides a wide range of trading tools, as we have already mentioned. These tools include real-time charting with moving averages or exponential moving averages. Trades can also be made easy and accessible through the Binance mobile app, Binance website or Binance desktop application.
The platform allows traders to view their trade history and portfolios. They can view the order book and price charts. You can also choose from a variety of order types. They can stop orders, limit orders, stop-limit orders, stop-market orders, and trailing stop orders.
Also, users can choose different trading views to easily comprehend data or view them in a way they prefer. There are many views to choose from, including classic, margin and OTC views.
Your trading fee percentage will depend on your trading history in the past 30 days and the volume in the past 30 days. It will also impact the amount of BNB that you have.
Maker orders, which add liquidity to the market, will get lower fees than taker or remover orders.
The platform also encourages the use of its own native currency, the Binance Coin (BNB). Anybody who does so will receive a 25% discount on their trading fees. Binance offers 0% trading for selected Bitcoin and Binance USD pairs (BUSD).
The chart below shows how VIP status, the 30-day trade volume, and maker/taker are related.
| VIP | 30-Day Trade Volume (BUSD) | Maker/Taker |
| 0 | Below 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4,999,999 and at least 25 BNB | 0.09%/0.10% |
| 2 | 5,000,000 to 19,999,999 and at least 100 BNB | 0.08% / 0.10% |
| 3 | Between 20,000,000 and 119,999.999, with at least 250 BNB | 0.07% / 0.10% |
| 4 | 120,000,000 to 199,999,999 and at least 500 BNB | 0.07% / 0.09% |
| 5 | Between 200,000,000 and 499,999.999 and at most 1,000 BNB | 0.06% / 0.08% |
| 6 | 500,000,000 to 999,999,999 and at least 1,750 BNB | 0.05% / 0.07% |
| 7 | Between 1,000,000,000 and 2,499,999.999999 and at most 3,000 BNB | 0.04% / 0.06% |
| 8 | Between 2,500,000,000 and 4,999,999.999999999 with at least 4,500 BNB | 0.03% / 0.05% |
| 9 | More than 5,000,000,000 and at least 5,500 BNB | 0.02% / 0.04% |
Security
Since Binance handles multiple sensitive and high stakes data, and it should be expected that the platform has good and robust security measures to protect its assets as well as their client base.
Binance includes two-factor authentication (2FA) via the Google Authenticator app or short message service for the customer side. It uses address whitelisting, device administration, and the ability restrict device access.
Binance also claims to have its own insurance fund made by storing 10% of all trading fees in a secure fund. This is meant to cover any losses from hacking, an incident that Binance is familiar with (more on that later).
This insurance is not the same as having a third party doing it, but it does give users some protection.
Binance also keeps its most important security feature, its funds, offline, in cold storage. This is to avoid any contact with hackers.
Customers should be cautious about Binance, however, as it has a poor track record in security. In early 2019, the platform was hacked for $40 million in BTC. Another major hack occurred in October 2022. This time, it cost them $570 million in BNB.
However, there is a bright side to this; sometimes, it would be better to have exchanges experience these incidents so they know which part of their security they should focus on and fix. As for the customer side, at least they can see how the platform handles themselves and their customer base whenever these cases happen.
Binance quickly responded to the hack and reimbursed all those affected through their Secure Asset Fund for Users. This cold storage wallet has enough capital to cover losses.
Customer Service
Binance provides three options for customer support. You have three options for customer support: submit a ticket, chat with a representative, or reach out via Twitter.
To obtain tickets, you simply need to complete a form on Binance’s website. You will be able to get email assistance by submitting a ticket.
If you are approaching them through Twitter, you only need to tag or mention Binance on their Twitter account (@BinanceHelpDesk) for support. Binance has been known to encourage users to tweet their issues through this channel as it has more visibility.
If you need to get in touch with Binance directly, there is a chat box at the bottom right corner. You can access this on the Binance website.
- Wide selection of Cryptocurrencies: From Bitcoin to Dogecoin and Etherium, there is no shortage of cryptocurrency you can buy from Binance. With the addition of cryptos such as Fish (FISH) or Fanverse (FT), that number is increasing.
The platform even has its crypto in the form of BNB. This allows crypto investors and traders flexibility in making their selections.
- Advanced Trading Tools
The tools that a trading platform provides to its users will determine how good it is. In the case of Binance, it gives users enough tools for a more flexible trading experience. Investors and traders will have no trouble trading on the platform.
- There are many ways to deposit money
If you don’t have any money to invest, trading is impossible. That is why, Binance allows for easier access and start to crypto trading through its multitude of ways to deposit funds
- Flexible Order Types and Trading Options
Bear in mind, trading is like a gamble. While assets and stocks may be worth a lot right now, you never know when they will lose value. Binance, one of the best trading platforms, should allow users to trade in any way they like. Proof Of Address Binance
- Platform can be overwhelming for beginner users.
Multiple options and advanced tools can be a bad thing. A multitude of choices can overwhelm beginners and make it difficult to choose from. Some experienced traders even claim they are intimidated by Binance’s many available options.
- Regulation issues in many countries
Binance has faced several regulatory and legal issues. This is a major issue that many investors are considering switching to other exchanges.
That said, the platform has been trying hard to remedy these regulatory issues and doing its best to meet the requirements to comply with and solve these issues.
- Not available in the United States
Due to issues with the United States regulatory bodies, Binance was somewhat banned in the country. That is why the parent company created Binance U.S., a U.S.-exclusive version of the platform.
Binance U.S. has a smaller selection than the original Binance. Furthermore, it is also not available in some U.S. states like New York and Vermont.
- There is no built-in digital wallet
Most popular cryptocurrency exchange platforms have their digital wallets built-in and included in. For some reason, Binance does not. Rather it recommends a third-party service called Trust Wallet. Although it is a well-respected service, they may not be able to offer sufficient support. Proof Of Address Binance
Binance Last Thoughts
Let me begin by saying that I’m a complete beginner when it comes crypto. My knowledge is based on a few YouTube videos, articles here and there, as well as some Reddit threads.
I chose Binance for the main reason that many choose the platform, and that is because of its low fees. I joined cryptocurrency to find out what all the fuss was about. This is not something I intend to take seriously.
It took me no time to create my account and verify it. In a matter of minutes I was able to view the UI and all the features offered by the platform. And here is what I have to say…..
With confidence, I can say that Binance is not for beginners. I can tell you that the myriad of choices presented to me by Binance was pretty intimidating and overwhelming. I needed a friend to help me understand the complexities of all this stuff.
So with his help, along with some tutorials found in Binance Support, I was able to get some of my bearings and begin trading. Although it is still confusing at times, I am slowly getting the hang of trading.
As of right now, I want to bet on the right horse and not the wrong one.
Binance is safe?
Yes, it is safe, but it does not have a good track record.
While Binance has its own set of key security features, it still is a blight on its record that it was hacked twice. Although the company increased its security, it will be determined if they can withstand attacks.
How Would You Decide if Binance is Right for You?
It is hard to determine which platform is right for your needs until you have read the reviews and tried the services for yourself.
However, for the sake of having an answer, you may deem Binance is a right fit for you if:
- You are not a newbie in crypto trading, and you have intermediate to the advanced crypto trading experience.
- You need a service that is affordable and can accept many currencies.
- You’re looking for advanced features in your service.
- An institutional trader is one with a high net worth.
- You are not a citizen of the United States.
Bianance offers FOREX trading
Binance doesn’t offer Forex trading (Foreign Exchange Trading) traditional Forex.
It lacks the currency pairing required to join FOREX. A company must have access to thousands of currency pairings in order to be able enter FOREX-only markets. It is a far cry from Binance, which only has over 50 currency pairings.
CFD trading is offered by Binance
Unlike FOREX trading, Binance does offer CFD (Contracts for Difference) trading.
They are still controversial in crypto, and many prefer native assets. These assets, unlike CFD’s can be easily withdrawn to a personal account. However, CFDs have their advantages. They can be extremely liquid.
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Много фактов про самую крупную криптобиржу Binance. Её основатель богаче Цукерберга, но она запрещена в США
В закладки
Всякий раз, когда речь заходит о криптовалютных биржах, первое, что приходит на ум — Binance. Это самая крупная биржа в мире по дневному обороту.
Она также имеет множество инструментов для торговли криптовалютами и цифровыми активами. Binance поддерживает более 600 криптовалют, и по этому показателю в несколько раз превосходит своего ближайшего конкурента Coinbase.
Помимо этого, у Binance очень насыщенная история, которая содержит много интересных фактов.
1. Binance была основана в Китае гражданином Канады
Binance запустилась в 2017 году. Компанию основал Чанпэн Чжао, известный в криптосообществе как CZ. Он родился в Китае, а в 12 лет переехал вместе с родителями в Ванкувер.
До создания Binance он основал компанию Fusion Systems, которая создавала торговые системы для биржевых маклеров.
Про криптовалюты он узнал в 2013 году, когда глава BTC China Бобби Ли и его инвестор во время игры в покер предложил Чжао перевести 10% своего капитала в биткоин. Изначально он так и сделал, а через год продал дом, чтобы докупить новых биткоинов.
2. У Binance нет штаб-квартиры
Binance была основана в Китае, но переехала в Японию в связи с приближающимся запретом правительства на торговлю криптовалютой.
После ужесточения японских законов Binance решила переехать на Мальту. Мальтийское управление финансовых услуг отрицало, что контролирует биржу. Позже из юридических документов Binance выяснилось, что компания зарегистрирована на Каймановых островах.
При этом офиса у Binance нет. Во время «переездов» компания меняет юридическое лицо и перевозит сервера и часть сотрудников. Сам Чжао в ноябре 2021 года заявил, что Binance ищет место для открытия штаб-квартиры.
3. Binance запрещена в США
В 2019 году власти США запретили работу Binance в стране. В ответ компания зарегистрировала дочернюю компанию Binance.US для соблюдения всех законов США. Это отдельная биржа, но её функции и интерфейс идентичны мировому аналогу.
Тем не менее, это не помогло Binance. В мае 2021 года Министерство юстиции и Налоговая служба США начали проверку Binance в связи с обвинениями в отмывании денег и уклонении от уплаты налогов. Binance.US запрещена в семи штатах.
4. Binance несколько лет возглавляет рейтинг по дневному объему торгов
Объем торгов на Binance за сутки составляет $76 млрд, что превышает показатели четырех её крупнейших конкурентов вместе взятых.
По данным Bloomberg, Binance также является крупнейшей биржей криптовалют по объему торгов на рынке спотов и деривативов.
5. Binance запустила две криптовалюты
В июне 2017 года запустился Binance Coin (BNB), а в сентябре 2020 года — Binance Smart Chain (BSC). По состоянию на 2021 год Binance Coin была криптовалютой с третьей по величине рыночной капитализацией. С момента запуска Binance Coin выросла на 12 300%.
В феврале 2022 года на базе двух криптовалют была создана BNB Chain. Это децентрализованная валюта предназначена в том числе для метавселенных.
6. Основатель Binance сделал тату с логотипом компании
В декабре 2018 года Чанпэн Чжао сделал татуировку с логотипом Binance.
В блоге компании он рассказал, что теперь Binance не может изменить свой логотип.
7. Россия входит в Топ-5 крупнейших рынков Binance
Источники Bloomberg заявляют, что Россия входит в пятерку крупнейших рынков Binance с примерно 10 млн криптокошельков.
Из них менее 50 тысяч имеют активы, превышающие €10 тыс.
8. Binance до сих пор непубличная компания
Несмотря на рекордные показатели и мировую известность, Binance все еще является частной компанией, поэтому её финансовые показатели остаются в секрете.
По данным Bloomberg, в 2021 году Binance заработала не менее $20 млрд. Бывшие топ-менеджеры компании заявили The Wall Street Journal, что капитализация Binance могла бы достигать $300 млрд, если бы её акции торговались на бирже.
9. Каждую неделю Binance удаляет 100 клонов
В интервью РИА Новости Чанпэн Чжао рассказал, что еженедельно компания удаляет более 100 фейковых сайтов, приложений и аккаунтов в соцсетях, которые используют бренд Binance.
Биржа постоянно отражает атаки хакеров и борется с мошенничеством, но не всегда успешно.
В 2019 году Binance сообщила, что хакеры украли у неё 7 тысяч биткоинов на сумму около $40 млн.
10. Состояние основателя Binance больше, чем у Марка Цукерберга
Bloomberg оценивает состояние Чанпэн Чжао в $96 млрд, но при этом в рейтинг миллиардеров он не входит. Для сравнения, Марк Цукерберг владеет $73,9 млрд.
Состояние Чжао на самом деле может быть больше, поскольку Bloomberg не учитывало криптоактивы миллиардера.
Если Binance выйдет на биржу, то Чжао может стать богаче Илона Маска.
В закладки
How Long Does Binance Verification Take?
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If you’re getting into cryptocurrency, you may have decided that the safest way is using one of the most well-known brands in cryptocurrency; Binance, or Binance.US. Creating an account on Binance may be a bit confusing. Particularly, verification may seem like a slow process. If you are wondering how long does Binance verification takes, read on to learn more about the whole process.
In This Article
What is Binance Verification?
Just like many other companies that deal with financial matters, the Binance exchange is subject to legal regulations in the countries it operates in.
To combat criminal activities like money laundering, many countries have AML (anti-money laundering) and KYC (know your customer) regulations. These regulations require financial institutions to record the identity and personal or business details of the customers they do business with. This process allows government officials to trace the identity of account holders if a crime is committed.
Centralized exchanges based in the United States and many other countries require you to provide some form of official identification before you can use the full capabilities of the platform.
Binance verification is the Binance exchange’s way of obeying AML and KYC regulations. Binance verification is divided into levels. Each level requires more detailed proof of identity and gives you access to more functions on the exchange. The three levels are Verification, Verification Plus, and Enterprise Verification. Enterprise verification is reserved for businesses using the exchange.
To do Binance verification, you need to upload photos of some documents and your face. Binance will use specialized software and trained staff to verify your documents with the information you provide.
How Long Does Binance Verification Take?
Submitting all of the required documents takes a maximum of 15 minutes. That is because you have to submit all documents and information within 15 minutes after starting the process.
In terms of Binance processing your documents and giving you a result, there is no guaranteed length of time. For the majority of routine account verifications, the process only takes a few days. Some verifications may even take a few minutes, and some may take up to 10 days. The best way to reduce how long does Binance verification take is to make sure all the pictures of your documents are clear. That means not blurry or too dark—the document must be readable in the picture.
Reasons Why You Should Complete Your Binance Verification
No matter how long Binance verification does take, it is a necessary step if you want to trade on the exchange without restrictions.
Enhanced Security Measures
Verification also allows you to prevent people from stealing your money by pretending to be you. It means anyone wanting to steal from your account would need to make a lot of effort to steal or forge your identification documents on top of stealing your account login details.
This extra effort makes it more likely that a thief will give up or fail before they gain access to your crypto.
Compliance With Global Financial Regulations
Binance verification is also necessary for the company to comply with the financial regulations of countries around the world. These regulations are for preventing financial crimes. They also help authorities to track down and charge people with the crimes that have already been committed.
Governments require that companies providing financial services to their citizens comply with these regulations, or risk being stopped from operating in the country.
Access to Higher Trading Limits
The kinds of international financial crimes that AML and KYC regulations are designed to fight usually involve large amounts of money—hundreds of thousands or millions of dollars per transaction. As such, for small transactions made by individual investors, regulations are often less strict.
As a result, many exchanges have certain limits below which they allow you to use the platform without completing full verification.
How to Complete Binance Identity Verification
The Binance verification menu is located in the User Centre under the Identification heading. This is where you will see the details of each of the three verification levels and what each one lets you access.
- Personal Identification: This is in the form of official government-issued identification documents. This could be a national ID, driver’s license, or passport. You will just need to take a clear picture of the document.
- Personal photo: You will need to upload a photo of your face for facial recognition software to process. If your device has a camera you can take a photo of yourself. You can also upload a photo you already have. In the second step of the photo check, facial recognition software will try to use your device’s camera to match your identity with the photo you provided. You can also use the Binance app to scan a QR code to complete this step.
- Proof of address (verification plus): If you want to access the benefits of verification plus you will need to upload a clear photo of either a bank statement or a bill that shows your address (e.g. electricity, water, or internet bill).
After you submit the requirements for Binance verification, software and Binance staff will check that all your documents are clear and match the account information you provided.
If there is a problem, you will receive an email with instructions to try the process again. You can try again up to 10 times in 24 hours. After that, you have to wait 24 hours to try again.
Also, note that you need to submit all the required proof within 15 minutes. If you take too long, you will have to start again. It will make it easier for you to have all the documents and photos ready before starting the Binance verification process.
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Conclusion
If you have been delaying the process, wondering “How long does Binance verification take?”, you now have an answer: not very long. Although you don’t have to complete the Binance verification process, it can help you by making it harder for cybercriminals to pretend to be you and use your account. If you want to use Binance for large transactions, Binance verification is not optional. This requirement is in place so that Binance can comply with AML and KYC regulations around the world.