In the world of digital currencies, the KYC (Know Your Customer) procedure is a fundamental necessity to ensure security and compliance with international and local laws. This procedure helps combat money laundering, financing of terrorism, and protects users from financial fraud. In this article, we review the concept of KYC, its importance, and why platforms like #Binance require it.
A detailed guide on how to complete KYC on Binance in the Middle East and North Africa (MENA).
🔍 What is KYC?
KYC stands for "Know Your Customer," which is a procedure required from individuals wishing to use financial platforms – such as banks or cryptocurrency trading platforms – to verify their identity using official documents.
🧭 Why do cryptocurrency platforms like Binance require KYC completion?
According to Notabene's guide on travel rules and KYC in digital currencies, the adoption of KYC by digital platforms aims to:
✅ 1. Combating Money Laundering (AML)
KYC helps trace the sources of funds and verify their legitimacy, limiting the use of digital currencies in illegal activities.
✅ 2. Combating the Financing of Terrorism (CFT)
By identifying users, it becomes difficult to use platforms to fund suspicious entities or activities.
✅ 3. Protecting users
In case of losing access to the account or attempted hacking, identity verification helps recover it easily.
✅ 4. Compliance with regulatory requirements
Governments and central banks around the world impose strict laws regarding digital financial transactions and require platforms to comply to avoid penalties.
🌍 The Importance of KYC in the Middle East and North Africa (MENA)
As the adoption of digital currencies grows in the Middle East and North Africa, governments have begun to establish regulatory frameworks to ensure transaction safety.
Platforms like Binance implement KYC requirements to ensure compliance with these laws and to provide a safe environment for users in the region.
📝 Steps to complete KYC on Binance in the MENA region
Based on the official verification page on Binance, here are the detailed steps to complete the KYC process:
🔹 Step 1: Log into your account
Log into your account at www.binance.com or create a new account.
🔹 Step 2: Go to the verification center
From the top menu, click on the account icon.
Select "Verification" from the dropdown menu.
🔹 Step 3: Select the country
Select your country of residence within the Middle East or North Africa (e.g., Yemen, Jordan, Kuwait, Syria, Saudi Arabia, UAE, Egypt...).
Click on "Start Now."
🔹 Step 4: Upload documents
Select document type: Passport, ID card, or Driver's license.
Take clear pictures of the documents as per the instructions.
Take a selfie using the camera.
🔹 Step 5: Biometric verification (Face Verification)
You will be asked for a biometric verification process using the camera.
Follow the instructions displayed on the screen.
🔹 Step 6: Waiting for review
Your information will be reviewed within a few hours to one business day.
You will receive an email notification when verification is complete.
📌 Direct link to the verification center on Binance:
https://accounts.binance.com/register?ref=HBBC21V8
❓Frequently Asked Questions
Can Binance be used without KYC?
You can browse the platform and use some features, but you won't be able to withdraw or trade large amounts until you verify.
Is the KYC process safe?
Yes, Binance uses advanced encryption techniques to protect your information and does not share data with unauthorized parties.
What should I do if verification fails?
You can resend the documents or contact Binance support for assistance in completing the process.
🧾 Summary
Completing KYC on cryptocurrency platforms is a necessary step for any serious user dealing with digital assets. It not only ensures legal compliance but also provides greater protection against fraud and hacking.
The Binance platform provides a quick and easy verification process for users in the MENA region, and following the mentioned steps ensures you a safe and reliable experience.