All you need in this case is an email address.Īn unverified account is perfect for casual investors who are not looking to control large amounts of cryptocurrencies. In the case of Binance, the world’s largest crypto exchange, users can enjoy withdrawals of up to 2 BTC daily without any verification.
While some exchanges may allow customers to enjoy some basic features without KYC, others require some form of identity verification before you can deposit or even trade. Thanks to stricter regulations, it is now almost impossible to use most centralized exchanges without completing your KYC. If you are new to the cryptocurrency space, you might have discovered that “Know Your Customer (KYC)” procedures are such a big deal.