Centralized crypto trading platforms must comply with the laws of various countries and governments around the world, and Binance is no exception.
Binance offers many useful features that crypto enthusiasts will definitely appreciate. However, as a centralized exchange, Binance requires all users to go through a personal authentication process.
Verification of Binance is required in order to unlock most of the features in the Binance app, so this is a must. Also, verifying your address is the last step in the verification process.
Binance Address Verification Process
All users must complete Binance's identity verification process. Cryptocurrency exchange Binance asks for different personal details depending on the level of verification you need to pass.
Benefits of Completing the Binance Identity Verification Process
Binance address verification is mandatory for all users who wish to verify their account. There are actually three levels of validation with different benefits that you should be aware of:
- Basic level verification: allows you to link a bank account, asks for basic information (such as email confirmation and mobile phone information) associated with your data, and is the basic personal verification that everyone should complete;
- Medium Verification: Includes Face Verification, and since Face Verification and Voice Verification are mandatory, you will unlock higher trading limits and better withdrawal limits on your account;
- Advanced Verification: This level of security verification requires address verification and is higher on Binance. It opens the full check icon which disables all restrictions for your account.
Binance Address Validation Error: Causes and Fixes
After completing the basic and intermediate verification, the app will give you the option to verify the address. All of these measures, in addition to providing you with greater options for withdrawing funds and using all trading instruments without restrictions, are designed to prevent money laundering and other suspicious activities on the platform.
Thus, these measures are meant to protect you, not control you.
Invalid documents
You must upload photos and valid document files to complete the address verification process within Binance. Documents must be dated a maximum of three months - older documents will not be accepted.
The platform accepts bank statements, utility bills, building management information, or bank statements.
Basic documents such as your driver's license have already been verified by the platform in previous identity verification processes.
If the platform detects the document as invalid, the address validation will fail. The name on the documents must match the name on your Binance account. In addition, photographs or scans must be clearly visible.
If you manage to follow the steps in this guide, you shouldn't have any serious problems with verification.
