Losing access to your account can be a nightmare 😱.
But, what would really happen? I'll explain it with a realistic simulation:
1️⃣ Day 1 – The scare
You open the app… and you can't log in.
On-screen message: “Access denied. Verify your account.”
Immediate panic.
2️⃣ Step 1 – Recovery attempt
• Go to the “Forgot my password” option
• Binance asks for email + verification by SMS or Authenticator
• If you don't have access to the email or phone, you need to go to the next level…
3️⃣ Step 2 – Identity verification
• Binance activates recovery KYC
• It asks for a live selfie + photo of your ID/Passport
• Security questions and last transactions
4️⃣ Step 3 – Preventive freeze
During the recovery, your funds remain temporarily blocked
This prevents, if it was a hack, the attacker from withdrawing your crypto.
5️⃣ Step 4 – Waiting time
The process can take from 24h to 7 days depending on the complexity.
Meanwhile, you can't trade or withdraw.
6️⃣ Happy ending (or not)
• If you pass the verification, you recover your account and everything remains the same.
• If you fail the verification (inconsistent data), you may lose permanent access.
💡 Tip:
• Activate 2FA with Google Authenticator
• Keep your recovery codes safe
• Keep your email secure and with 2FA as well
📢 Moral: In crypto, your security depends 100% on you.