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Questions about an unverified account

Questions about an unverified account


Cryptocoins Exchanges / Binance 28 Views

I recently got interested in crypto trading and made a Binance account earlier. I had planned to purchase around $20 worth of Bitcoin to start, and depending on how everything goes perhaps purchase more at a later date.

When I went to buy via Visa, I got a notification saying that my limit to purchase is $0, and that in order to raise my limit to $5000 I need to verify, among other things, my face and a piece of government ID. While address and name are fine, face and ID are raising some serious red flags for me (as someone who is nervous about identity theft). I read the terms of service, certainly, and I understand the need for security, however facial recognition seems rather excessive for low level trades (I can hardly see myself making several grand).

Is the only way I can purchase bitcoin through Binance to verify my face?

submitted by /u/owegner
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