Binance has recently notified its users about a series of changes in its policies, making intermediate level identity verification (KYC) on the platform mandatory for all of them.
Last August 20, 2021, Binance published an official announcement that can be viewed at this link. By means of this announcement, Binance urges all its users to verify their identity on the platform in order to continue enjoying its products and services. If this procedure is not completed, the user’s permissions will be cancelled.
This statement joins a first announcement that was made public on August 6, 2021, and that can be seen in this other link, in which Binance called all its users interested in using the API Keys to perform the KYC in order to continue enjoying the service. If this procedure is not completed, as of August 23, 2021 at 00:00 am If this procedure is not completed, as of August 23, 2021 at 00:00 am (UTC), the API Keys of users will be deactivated until they perform the respective KYC.
How does this new Binance requirement affect me as an Atani user?
If you are an Atani and Binance user, you should pay special attention to this release. First of all, remember that Atani allows you to trade on Binance through API Keys. These are the means that makes it possible to operate from our platform in the different exchanges that you have connected. Without API Keys, the operations you perform in Atani are not executed, since there is no communication between the platform and the exchange server. This means that API Keys are essential for the operation of Atani and its security, as they are the fundamental pillar of our non-custodian and secure operation of your funds in the exchanges you manage.
That said, it is clear that, if you are a Binance user and you do not have a verified account, come August 23rd you will not be able to trade on Binance using Atani via API Keys. The solution to this however is very simple: go through the identity verification (KYC) process and rebuild the Binance API Keys, to reconnect them to the Atani application. By performing this simple procedure you will be able to keep using Atani as you have been doing without any major inconvenience.
How do I perform the KYC process in Binance?
The Binance KYC verification process is very easy to perform and can be complete in a few minutes. Before you begin, please note that you will need the following:
- Your National ID, passport or driver’s license at hand. One of these documents will be require to complete the verification process.
- A computer with webcam or smartphone with the Binance app.
Starting the KYC process at Binance
If you already have a Binance account, all you need to do is to log in to your account. At this point, your first step is to go to your account menu and look for the “Identification” section to start the KYC process.
Once there you will be able to see the verification options that Binance offers you. In total there are three levels of verification, each with its own capabilities within the platform:
- Basic, for personal data and email verification. With the new policy this level of verification becomes insufficient for trading with Binance.
- Intermediate, the minimum verification level to continue trading with Binance under its new policy.
- Advanced is the most complete type of verification, especially for companies or users that handle large capital flows in both crypto and fiat.
Initiating the intermediate verification process
To start the process all you have to do is click on the “Verify Now” button:
With this we will start with the data verification process of this level. The first step will be to enter in the form your basic nationality data and choose an identification document.
Once this first step is done, the next thing to do will be to click on “Continue” to then upload a photo. You must take special care when taking the photo, which will be indicate during the process. At this point you should upload the photo of the chosen document and you click on “Continue”:
Once the photo of the document is upload, it is time to upload the selfie. As in the previous process, you will be asked to be careful when taking the selfie, complying with the requirements.
Finally, when uploading the selfie, you will be ask for the last step to verify your account. At this point you will be require to use the webcam of your computer or smartphone. This because as a live selfie will be taken to complete your intermediate verification registration data. This process is simple, just make sure you follow the instructions to complete the verification process.
When you are done with this step, you must wait some time for review your data. This can take from a few minutes to 10 days maximum in some cases. Generally, it is done in a few minutes, but if you have any problems you can always contact the Binance support team.
Once your account is verified, you will be able to continue enjoying Binance’s services without any major problems.
If you still have any questions after this explanation, you can check this link or contact the Binance support team.
What can I do if my API Keys have been revoke because my verification was late?
If for some reason you have exceed the limit given by Binance’s statement to activate KYC verification and your API Keys have been revoke, all you need to do is the following:
- Make sure you comply with the KYC verification required by Binance. You can do this following the process we have shown earlier in this article.
- Once the verification is ready, proceed to create new API Keys for your Atani application. This process is describe in detail in the following link.
- Connect the new Binance API Keys to the Atani application.
With this you can now enjoy Binance again using our Atani application via API Keys without any inconvenience.
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