CoinFeedWhat is the Difference Between Binance KYC Tier 1, 2, and 3?
Stuck on the Binance official site KYC page with "Verified," "Verified Plus," and "Enterprise/VIP" options? Simply put: Tier 1 (Verified) only requires an ID; Tier 2 (Verified Plus) adds a proof of address; Tier 3 (Enterprise/VIP) further requires proof of source of wealth. Tier 1 allows for daily withdrawals of $50,000, Tier 2 is $200,000, and Tier 3 starts at $1 million. Most people find Tier 1 sufficient; Tier 2 and 3 are only necessary for large fiat transactions or institutional accounts. You can see your current level in the "Verification Center" of the Binance official App. If you haven't installed the App yet, check the iOS installation tutorial first.
The logic behind the three tiers is simple: the more features you want to use, the more Binance needs to know about you. Let's break down each tier.
Tier 1: Verified (Basic)
What to Submit
- Valid identity document (choose one from ID card, passport, or driver's license)
- Liveness facial recognition
- Basic personal information (name, date of birth, nationality, country of residence)
Features Unlocked
- Full access to spot trading for all coins
- Basic permissions for options and futures trading
- Crypto deposits (on-chain transfers)
- Crypto withdrawals (daily limit approx. $50,000)
- P2P trading (daily limit approx. $50,000)
- Basic Earn products (Locked, Flexible, Dual Investment)
- Participation in Launchpad and Launchpool token sales
Review Duration
30 minutes to 72 hours, most within 2 hours.
Who is it for?
- Regular retail users
- Monthly trading volume under $10,000
- Those using only crypto without large fiat inflows/outflows
- Beginners, learners, and small-scale investors
Tier 2: Verified Plus (Intermediate)
What to Submit (In addition to Tier 1)
- Proof of residential address (bank statement/utility bill/credit card statement from the last 3 months)
- In some regions, additional tax information may be required
Features Unlocked (Upgraded from Tier 1)
- Daily crypto withdrawal limit of approx. $200,000
- Daily P2P trading limit of approx. $200,000
- Large fiat channel deposits (credit card, bank transfer, third-party payments)
- Permissions for high-leverage futures (some high multiples require this)
- Eligibility for VIP fee discounts (combined with trading volume)
- Higher limits for lending products
Review Duration
1-5 business days. Since proof of address requires manual review, it is slower than Tier 1.
Who is it for?
- Monthly trading volume between $10,000 and $300,000
- Those needing large deposits via bank card
- Users involved in cross-border fund transfers
- Medium-to-large OTC clients
Tier 3: Enterprise/VIP (Advanced)
What to Submit (In addition to Tier 2)
- Proof of Source of Wealth
- Salary/Remuneration: Salary slips + employment certificate + labor contract
- Business Operations: Company business license + financial statements + shareholder information
- Investment Returns: Investment account monthly statements + tax payment certificates
- Real Estate Sale: Property sale contract + proof of funds receipt
- Inheritance or Gift: Notarized will + gift agreement
- Tax ID number (if applicable)
- May require a video meeting with an account manager
Features Unlocked
- Daily crypto withdrawal limit starting from $1,000,000 (negotiable for higher)
- Case-by-case approval for fiat channel limits
- Immediate upgrade to VIP3 or higher
- Dedicated account manager support
- Institutional API and custody services
- Customized OTC quotes
- Participation in institutional-level Launchpad allocations
Review Duration
5-15 business days. Depending on material complexity, institutional accounts may take longer.
Who is it for?
- Institutional investors
- High-Net-Worth Individuals (HNWI, net assets over $1 million)
- Crypto mining farms or pool operators
- Project treasuries
- Market makers and hedge funds
Three Tiers Comparison Table
| Dimension | Tier 1 (Verified) | Tier 2 (Verified Plus) | Tier 3 (Enterprise/VIP) |
|---|---|---|---|
| ID Document | Required | Required | Required |
| Proof of Address | Not Required | Required | Required |
| Source of Wealth | Not Required | Not Required | Required |
| Daily Withdrawal Limit | $50,000 | $200,000 | $1,000,000+ |
| Daily Fiat In/Out | $50,000 | $200,000 | Case-by-case |
| Review Duration | 30 mins - 72 hours | 1-5 days | 5-15 days |
| Starting VIP Tier | VIP0 | Based on volume | Starting from VIP3 |
| Dedicated Support | None | None | Available |
How to Upgrade
From Tier 1 to Tier 2
- Log in to the App and enter the "Verification Center".
- Find "Upgrade to Verified Plus" under your current KYC level.
- Upload proof of address (PDF or image).
- Fill in residential address information.
- Wait for review.
From Tier 2 to Tier 3
Tier 3 usually cannot be upgraded via self-service and requires contacting customer service or an account manager. Submit a ticket in the App's help center explaining your account needs and approximate asset size, and a VIP team will reach out.
Can Your Level Be Downgraded?
Yes. The following situations may lead to a downgrade:
- Proof of address has not been updated for more than 6 months.
- Suspicious transactions in the account triggered risk control.
- Identity information (name, document) mismatch with bank card information.
- Changes in regional regulatory policies.
- Long-term inactivity (no operations for over 12 months).
Binance typically sends an email reminder before a downgrade, requesting updated materials. Follow the prompts to maintain your original level.
FAQ
Do I need to upgrade to Tier 2 immediately after completing Tier 1?
No. You can upgrade when you actually need higher limits. There is no mandatory time limit for upgrading.
Do I need to submit proof of address for Tier 2 every month?
No. Once submitted and approved, it is valid long-term unless Binance specifically requests an update (usually an audit every 6-12 months, and most people are not selected).
How to prepare proof of source of wealth for Tier 3?
Prepare based on your primary source of income. Salaried employees provide 6-12 months of salary slips + employment certificate; business owners provide a business license + financial statements from the last year; investors provide investment account statements + tax payment certificates. All materials should be translated into English or Chinese.
Can I skip levels and go directly to Tier 3?
No. Tier 3 requires completing Tier 1 and 2 first; levels cannot be skipped. Each tier builds upon the previous one, and the review process needs to proceed in order.
Are KYC levels universal across different Binance sub-sites?
No. Binance Global, Binance.US, and Binance Turkey are independent account systems; each region requires separate KYC.
Is there a way to avoid KYC?
Binance now mandates that all new registered users complete basic KYC; without it, you cannot deposit, trade, or withdraw. The former "anonymous account" policy has been entirely abolished. If you insist on not doing KYC, you can only view market data and cannot perform operations.
Summary
Binance's three KYC tiers range from light to heavy: Tier 1 (ID card) unlocks basic features with a $50,000 daily limit; Tier 2 (plus address proof) upgrades to $200,000 for larger users; and Tier 3 (plus source of wealth) reaches $1 million+ for institutions. Choose your tier based on actual needs—don't "over-verify" just to look authoritative, as more materials mean more privacy exposure. Completing Tier 1 first and upgrading only when limits become an issue is the most reasonable approach.