TO VERIFY OR NOT TO VERIFY?
The process of verification on a cryptocurrency exchange usually consists of entering your personal data and downloading required documents. In some cases, you need to verify your home address as well.
Which benefits do you get after the procedure?
First of all, you receive full control over your assets. Although this factor is very important, many traders forget about it.
Recently the Poloniex exchange has frozen the accounts of unverified users. Customers now can’t get an access to their funds till they submit their personal data.
Yes, most of our subscribers use Binance exchange, which has almost no any limits for unverified accounts. But where is the guarantee, that this policy wouldn’t change someday? Besides, the verification gives you additional protection against frauds.
Some exchanges provide verified users with additional functions and higher limits of withdrawals.
✔️Binance allows verified users to withdraw up to 100BTC (why the limit for unverified accounts on most of exchanges is about 3BTC).
✔️ Livecoin allows verified users to work with fiat pairs.
✔️EXMO allows verified users to work with various payment systems and to transfer funds directly onto the card.
Every exchange has its own rules and bonuses. Before you send money to your account, you must learn everything about the withdrawals, limits and other conditions!