Binance is it required to verify account to withdraw coins?

[richardsNY]

Limit 2 BTC for unverified accounts is very reasonable.

Reasonable? It's insanely high. In current market that equates to an amount of +$18,000 that you can withdraw on a daily basis, which is something I can't see them continue endlessly. I have a basic verified account on Bittrex, and they lowered my daily withdrawal limit to 0.4 BTC! Unverified accounts at Bittrex can't even withdraw anything, which is quite funny and weird. If you can't withdraw anything as unverified user, why would you be able to deposit? It doesn't make any sense. It's something more exchanges do, and I find it quite shady, especially because of the fact that you as exchange are almost knowingly setting up a noob trap. Once people make the mistake to deposit, they will either leave their funds there for ever, or they will have to get themselves verified to get their coins back.

[Oasisman]

Limit 2 BTC for unverified accounts is very reasonable.

Reasonable? It's insanely high. In current market that equates to an amount of +$18,000 that you can withdraw on a daily basis, which is something I can't see them continue endlessly. I have a basic verified account on Bittrex, and they lowered my daily withdrawal limit to 0.4 BTC! Unverified accounts at Bittrex can't even withdraw anything, which is quite funny and weird. If you can't withdraw anything as unverified user, why would you be able to deposit? It doesn't make any sense. It's something more exchanges do, and I find it quite shady, especially because of the fact that you as exchange are almost knowingly setting up a noob trap. Once people make the mistake to deposit, they will either leave their funds there for ever, or they will have to get themselves verified to get their coins back.

Exactly just what I have in mind. I know it must be written in the terms of agreements, but for some people are too lazy to read, but its also not right for the exchanges to let their unverified clients to deposit only to find out that the funds arent be able to be withdraw. They must've deprived the unverified client in the first attempt of deposit. That's right, this is like a set-up trap for the newbies.

[kynaz]

Limit 2 BTC for unverified accounts is very reasonable.

Reasonable? It's insanely high. In current market that equates to an amount of +$18,000 that you can withdraw on a daily basis, which is something I can't see them continue endlessly. I have a basic verified account on Bittrex, and they lowered my daily withdrawal limit to 0.4 BTC! Unverified accounts at Bittrex can't even withdraw anything, which is quite funny and weird. If you can't withdraw anything as unverified user, why would you be able to deposit? It doesn't make any sense. It's something more exchanges do, and I find it quite shady, especially because of the fact that you as exchange are almost knowingly setting up a noob trap. Once people make the mistake to deposit, they will either leave their funds there for ever, or they will have to get themselves verified to get their coins back.

Exactly just what I have in mind. I know it must be written in the terms of agreements, but for some people are too lazy to read, but its also not right for the exchanges to let their unverified clients to deposit only to find out that the funds arent be able to be withdraw. They must've deprived the unverified client in the first attempt of deposit. That's right, this is like a set-up trap for the newbies.

I think this will help newcomers to the Crypto market have better look when depositing on the exchange because if you do not understand that exchange then certainly 70% you can lose money at any time but if Have a guide, you will certainly avoid this mistake. I also lose money from Bittrex exchange because I can not verify my account

[rhayot]

If you want to withdraw higher than 2 BTC, binance is requiring to verify your account for them to know that your account is not a hoax or for security purposes. But if you will just withdraw less than 2 BTC you don't need to verify your account they allow it in a day. Also verifying an account in binance and other exchanges are very easy, you will just provide a valid id together with your photo and a paper that is written the name of their exchanges.

[Btc_1856]

Most of the beginers will have a good opinion if they need to verify the  in order to secure their fund. Even it is a good thought for the people who are holding the coins in the binance, it is good sign to very the account in order to withdraw the coins.

[gabbie2010]

I transfered some funds to my unverified binance account for trading, after making some profits I applied for withdrawal which was successful done without any hassle although all account holders are mandated to do google authentication to avoid hacking of accounts.