IIs KYC compulsory in binance account registration?

[Akumari45]

I wanted to open an account on binance and was told that I have to do account verification. Is this verification also compulsory for someone that wanted to start small in the platform?.

 

[Suba]

At the moment I don't know the Binance regulations, since my government blocks the Binance site so I can't access it, but in my experience Binance doesn't require KYC to withdraw under 2 Btc, so I think it would be better if you join first so that you will know more about Binance KYC.

 

[OptiShen]

Binance doesn't need KYC to access their platform. However, if you wanted to trade in P2P Trading (lesser fees), you'll need to do KYC.

 

[Lord Saru]

I dont think they have a KYC requirement now. KYC is asked for licensed wallets and Binance, in most of the countries, are outlawed and considered as a back channel for financial transactions .

For P2P, what do they ask as KYC document? Any government approved document would be alright? Or are there specifications?

 

[guestph]

P2P and some features of binance needs KYC, but for trading on market like Spot or Swap does not, also cryptocurrency withdrawals

 

[Godleads1]

The Binance site might not have the KYC portion before and they do now. This is because most of these sites look and study what other sites are incorporating and they are not. They learn, improvise and then implement much. Above all, it's for your security.

 

[Setho]

I think in particular to binance , the know your customer verifications carries within countries. Here you need to verify your bvn , face and email to be able to deposit and to trade. Sending you home verification and means of identification unlocks other benefits.

 

[Dubai]

I wanted to open an account on binance and was told that I have to do account verification. Is this verification also compulsory for someone that wanted to start small on the platform?.

To a very large extent, I would say know your customer is quite compulsory. You might fall into the hands of scammers or fraudsters if you do not know who you are dealing with.

 

[Ralphjoe]

KYC registration is not compulsory on Binance as the only verification you would do on the platform is picture and BVN submission. These are what I did before I was verified on the platform.

 

[Setho]

Binance mostly ask people to complete a kyc verification because of the law of the land. You can receive and trader cry to without having to complete the kyc on binanacw.

 

[Dowenship]

I wanted to open an account on binance and was told that I have to do account verification. Is this verification also compulsory for someone that wanted to start small in the platform?.

Yes.... very important, this are measures that have been put in place to curb all manner of fraud... So its necessary if you want to use binance for crypto transaction..

 

[Sheyemanu]

In reply to your above question concerning if KYC is needed for binance account registration, well i would say that i have successfully registered and been verified on binance plattform and i didn't need KYC to get registered or to be verified

 

[Bousine123]

Yes binance kyc verification is compulsory for all levels of using the platform. Only that you just need to do little verification if you want to stay small.

 

[Mika]

You don't need to do KYC to receive cryptos on your account as well as send cryptos to other accounts, however, you need KYC verification to buy, sell and trade.

 

[Nomad]

Limited features are available to you on binance if you do not go through KYC verification, however, you can still enjoy some features on Binance even without verification

 

[Ralphjoe]

I wanted to open an account on binance and was told that I have to do account verification. Is this verification also compulsory for someone that wanted to start small in the platform?.

Well know your customer registration is not actually very important in binance account opening but they will ask for some very important documents to verify that you are who you say that you are like any government generated means of identification.

 

[HayKay]

Of course such processes are very necessary - as much as the whole idea of the blockchain or cryptocurrency network is to be decentralized, processes and transactions have to be monitored or records kept at least to prevent criminals from hijacking the whole process

 

[Stylex]

Write your reply... Well I think kyc is a compulsory binance account registration, the reason why I said that is because as much as the idea of block chain that's crypto currency network is decentralized and payment have to new monitored

 

[Solutionav]

Binance doesn't need KYC to access their platform. However, if you wanted to trade in P2P Trading (lesser fees), you'll need to do KYC.

Now I get the point when I was registering my binance account I was faced with similar challenge, so I have to pause the registration before a friend help me out

 

[GoldenLady]

Now I get the point when I was registering my binance account I was faced with similar challenge, so I have to pause the registration before a friend help me out

The policy now is that to use any part of the exchange, you had to get at least a level two verification. They accept international ID, national ID or any other means of identification that has a card form.