Binance decreased withdrawal limits for basic verified users.

[OmegaStarScream]

So i have some powerledger in my binance account.  When i go to withdraw, i see there is option to do this.  The fee is paid in powerledger right?  It ask for the address... and also the network.  The only network it shows is ETH.

So I don't need ETH to withdraw powerledger right?

Now which exchange account can i open to store powerledger?  I do have a hardware wallet and they support powerledger but i need to use it together with myetherwallet?

Yes. The fees will be paid in the same currency you're withdrawing, regardless of which network is selected. No ETH is needed.

I assume you're using either Trezor or Ledger wallet? If so, then yes, you can use that with either MetaMask or MEW but in this case, whenever you want to send the powerledger to somebody else, gas fees must be paid in ETH. non-custodial wallets and exchange do not function the same way.

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[The Cryptovator]

Now which exchange account can i open to store powerledger?  I do have a hardware wallet and they support powerledger but i need to use it together with myetherwallet?

Which hardware wallet you have been using? And why you should connect it with myetherwallet? Hardware doesn't itself have management software? Like if you use Ledger hardware wallet then they have Ledger Live to operate Ledger nano. I am not saying myetherwallet is un-secure, but it's always better to use official software.

By the way, if you are using the noncustodial wallet, then you should have a balance for the network fees that network you have been using to make transactions. Doesn't matter it's hardware or a hot wallet. It's only for a token, not for the coin. For example, if you are going to make transactions USDT in the Ethereum network then you should have a balance in ETH on your non-custodial wallet. If you are sending it through the Tron network then you should have TRX in your wallet.

[jerry0]

What are binance withdraw limits now?  I am unverified as I never sent in documents.


But how many forms of verification are there in binance? 


Asking since im going to withdraw my funds soon as I just kept my coins there as a wallet and haven't traded in a while.

[Maus0728]

@jerry0
You can have your Binance account to be Verified and Verified Plus. But usually, having a KYC level of "Verified" or "Intermediate verified" is all you need to have 100 BTC daily withdrawal limit as well as to avoid having your funds being locked as per their announcement^[1].


[1] Important Changes About Binance Identity Verification

[jerry0]

Okay so if you are verified... you are either verified or intermediate verified?  Which is higher then?


But if you are not verified, then there is only one form of that right?


Again, I never set in any verification.  So I'm not KYC then right?  Or are there two forms of non KYC?

[hosseinimr93]

Okay so if you are verified... you are either verified or intermediate verified?  Which is higher then?

The last time I checked my profile on binance, there were three kinds of verification. "Basic", "Intermediate" and "Advanced".
I just checked my account and noticed that now there are two kinds of verification. "Verified" and "Verified plus".

According to their announcement and as stated by Maus0728, if you are "unverified", you won't be allowed to use their service after October, 19.
If you are "verified" or "verified plus", your withdrawal limits will be as shown in the following image.


The image has been taken from my profile on binance.

[Maus0728]

Okay so if you are verified... you are either verified or intermediate verified?  Which is higher then?

After you have created your account, uploaded the ID's required, finished setting up the 2FA as well as the facial recognition; After a few minutes, you'll see your account have an "Intermediate verified".

Take note that an account that is verified is also equal to an intermediate level verified account just to avoid any confusion. And I am not sure why Binance have changed it from 3 levels into 2.

[hosseinimr93]

And I am not sure why Binance have changed it from 3 levels into 2.

They have removed "Basic" verification, because according to their new rules, unverified users (those who have not uploaded any document) won't be able to use their service and there is no point in having that tier of verification.
The "Intermediate" verification has been changed to "Verified".
The "Advanced" verification has been changed to "Verified Plus".


Updates to Terminologies