What is Binance KYC?

Image source: Binance KYC origins date back to 1990 when financial institutions were first required to establish the legitimacy of a client’s identity as a part of a concerted effort to curb money laundering and other types of financial crimes. Following the terrorist attacks of 9/11, KYC rules were incorporated into the Patriot Act.

How long does KYC verification take on Binance?

Binance has three verification tiers: basic, intermediate and advanced. Submitting all your details for verification should not take more than one hour. Afterward, you will have to wait for your verification to be processed. Submit your KYC verification on Binance. If you don't have a Binance account yet, you can sign up to get started.

What is KYC and how does it work?

1. Customer Identification Program (CIP) This is the first and most straightforward KYC process. It simply involves the collection and verification of customer data. For banks, this stage usually comes during enrollment. For cryptocurrency exchanges and other less rigid financial institutions, it comes after registration. 2.

How do I verify my Binance account?

Binance’s personal verification tiers and their respective KYC requirements. Once you’ve successfully logged into your Binance account, you need to click on the “Get Verified” button in the middle of Binance’s homepage in order to start the verification process. Binance produced a helpful GIF that shows a quick summary of the verification process.