Binance is the largest cryptocurrency exchange in the world with a user base hitting 30 million. And daily trading volume over $16 billion.
It would take users just 15 days to surpass Elon Musk’s entire net worth, which is now estimated at $250 billion.
To access all these features you will need to verify your identity and complete the whole KYC verification.
Let’s talk more about the KYC verification and what countries Binance supports.
Can you use Binance without KYC
KYC, or Know your customer is a part of a series of guidelines in financial services that, moreover, requires financial businesses to verify the identity of the user. The KYC is carried out to stop illegal actions like money laundering or fraud, protecting both the company and the client.
The KYC process may vary a bit depending on the industry with financial services provided.
From a real example, you will one time need to provide your ID, face verification, and proof of address on government-issued documents. But the next time you will be asked to only provide your valid ID…
But unlike KuCoin, where users can trade and have access to all essential features without identity verification, Binance requires all its users to complete the Know-your-customer or KYC verification.
How long does the identity verification take on Binance
You’re all excited about finally starting trading cryptocurrencies. I know. But slow down a bit. You must first complete the identity verification and then wait for the system or human staff to process it.
How long you might ask? It varies by country. But Binance has a robust verification system and can verify users quite quickly.
Before writing this article we discussed this topic inside our team. And we agreed that the identity verification time was the shortest for all of us at Binance.
For instance, I waited several weeks for my identity verification at Coinbase, while at Binance my identity was verified in a respectable one hour.
But generally, it takes a maximum of 2 to 3 days.
How many countries does Binance support
The issue is that not all countries have access to all features on Binance. And even though that Binance works more or less worldwide there are exceptions.
Binance services are currently available in more than 140 countries worldwide. You will find the complete list of Binance supported countries in the next part.
It is also worth mentioning, that even though Binance is supported almost everywhere not all countries have access to all the features. In some places, you might be restricted from connecting your bank account, and so on.
And the similar case is with the US. In the US there is only Binance.us available, which doesn’t have all the same functions and features as Binance. And that’s also why you won’t find the United States in the Binance supported countries list below, as it has its own version of this exchange.
For easy navigation, the list was created in alphabetical order. So you can easily go back to the start and click on the table of contents and jump directly to the letter of the country you want to see.
The Complete list of Binance supported countries (in alphabetical order)
Antigua and Barbuda
Isle of Man
Macedonia (North Macedonia)
Papua New Guinea
Saint Kitts and Nevis
Saint Vincent and the Grenadines
Sao Tome and Principe
Trinidad and Tobago
Turks and Caicos
United Arab Emirates
Virgin Islands, British
What to do when Binance says that your country is not supported
Unfortunately, there is not much you can do if your country is not supported.
You can either wait for your government to allow the use of Binance in your territory, or switch to another exchange. There are multiple great options when it comes to cryptocurrency exchanges. Take a look at Coinbase or FTX. And if neither of them works, you can always start on KuCoin as an unverified user.
If you can use Binance in your country lucky for you! As Binance is supposed to be the best crypto exchange in the world. And you are doubly lucky because by using the button below you will get 5% back of all your trading fees. Forever.