Removing your Bank Verification Number (BVN) from your Binance account can be done in just a few simple steps. In this comprehensive guide, we’ll walk you through the entire process of deleting your BVN from Binance safely and securely.
Binance, one of the world’s largest cryptocurrency exchanges, requires users to submit their BVN for account verification purposes. This allows Binance to confirm users’ identities and prevent fraud.
However, there may come a time when you need to remove your BVN from Binance. Perhaps you want to increase your privacy or no longer use Binance services. Whatever the reason, deleting your BVN is easy when you follow the right steps.
In this 3000+ word guide, you’ll learn:
- What BVN is and why Binance requires it
- Step-by-step instructions for removing BVN from Binance
- Alternative verification options without BVN
- Safety tips for managing your Binance account
- FAQs about deleting BVN from Binance
By the end of this comprehensive guide, you’ll know exactly how to remove your BVN from Binance smoothly and securely. Let’s get started!
What is BVN and Why Does Binance Require It?
BVN stands for Bank Verification Number. It is a unique 11-digit number assigned by Nigerian banks to each customer during enrollment into the banking system.
BVN links all of your bank accounts, credit cards and other financial services. It provides a unified financial ID that can be verified across different financial institutions.
Here are some key facts about BVN:
- Issued by the Central Bank of Nigeria (CBN)
- Mandatory for operating bank accounts in Nigeria
- Contains biometric data like fingerprints and facial photo
- Helps prevent fraud by cross-checking customer identities
Binance, being a global crypto exchange, must comply with anti-money laundering (AML) and know your customer (KYC) regulations in the jurisdictions it operates.
To verify users from Nigeria, Binance requires them to submit their BVN during account creation or when upgrading verification levels.
BVN provides the following benefits to Binance:
- Identity verification – Confirms users’ real names, age, address etc.
- Fraud detection – Flags suspicious accounts using tools like biometrics.
- Compliance – Helps Binance meet AML and KYC legal requirements.
- Risk management – Lowers risks associated with anonymous crypto transactions.
However, some Binance users may prefer not to share their BVN due to privacy concerns. Fortunately, it is possible to delete your BVN from Binance by following a few easy steps.
How to Remove BVN from Binance in 6 Simple Steps
Removing BVN from your Binance account can be done in just a few minutes if you follow these six simple steps:
1. Log in to your Binance Account
- Go to www.binance.com and log in to your account.
- Make sure you have your login email and password handy.
- If you have 2FA enabled, input your 2FA code from Google Authenticator or SMS to access your account.
2. Click on your Profile Icon
- Once logged in, click on the profile icon located at the top right corner of the screen.
3. Access Account Settings
- From the drop-down menu, click on Settings.
4. Go to the Verification Section
- On the Settings page, scroll down to the Verification section.
5. Remove BVN
- In the BVN field, click on the trash can icon to remove your BVN.
6. Confirm Deletion
- A pop-up will appear asking you to confirm removal of BVN. Click Confirm to permanently delete your BVN from Binance.
And that’s it! Your BVN should no longer be linked with your Binance account after following these 6 quick and easy steps. The process is really straightforward and should only take you a couple of minutes.
Alternative Verification Options Without BVN
Removing your BVN from Binance will downgrade your account verification level. So Binance will impose limits on features like fiat purchases and higher withdrawals.
To unlock full account access again, you will have to provide alternative documentation to verify your identity. Here are some options:
An international passport can be used to verify your identity without providing BVN. Make sure your passport is not expired and has your full names, photo and signature.
National ID Card
National ID cards like voter’s card, driver’s license or NIMC slip can also be submitted instead of BVN. Ensure the ID is valid and has not expired.
Proof of Address
You can upload a proof of address to confirm your residential address. This can be a utility bill, bank statement or similar document less than 3 months old.
Selfie with ID Document
Take a selfie while holding your ID document with your photo visible. This provides visual confirmation that you own the ID.
You may have to provide a combination of these documents if one is not enough to fully verify your account. Contact Binance customer support for advice on the best alternative docs to use.
Safety Tips for Managing Your Binance Account Without BVN
If you choose to delete your BVN from Binance, here are some tips to keep your account safe and secure:
- Use a strong password – Create a long, complex password that would be difficult to guess. Avoid repeating the same passwords across different sites.
- Enable 2FA – Two-factor authentication adds an extra layer of security to your account by requiring a code from your phone or authenticator app to log in.
- Watch for phishing – Beware of scam emails asking you to click suspicious links and provide your login details. Binance will never ask for your password.
- Withdraw to private wallets – Instead of leaving coins on the exchange, withdraw them to a private wallet where you control the private keys.
- Monitor account activity – Log in frequently to check for any unauthorized transactions. Enable email and push notifications for account activity.
- Limit account access – Only access your account from personal devices and avoid public WiFi networks. Don’t save your login details on shared devices.
- Contact support if compromised – If your account is hacked, immediately contact Binance support and reset your password. Enable the anti-phishing code as an added security feature.
By taking these precautions, you can securely manage your Binance account even without BVN.
Frequently Asked Questions
Here are answers to some common questions about removing BVN from Binance:
Can I delete BVN from Binance mobile app?
Yes, you can remove your BVN directly from the Binance mobile app. Just go to your Profile, click Verification and remove your BVN.
Does account verification level drop after removing BVN?
Yes, removing BVN will downgrade your verification status from “Verified” to “Basic”. You’ll have decreased withdrawal limits.
Can I withdraw my coins after deleting BVN?
You can still withdraw your coins after removing BVN but the daily/monthly withdrawal limits will be lower for lower verification levels.
Is a passport enough to verify my account without BVN?
An international passport may be sufficient to re-verify your account. But Binance may require additional documents like proof of address.
Can I sign up for Binance P2P trading without BVN?
Binance P2P trading requires account verification. You can register with alternative IDs instead of BVN.
Does Binance inform Nigerian banks after I delete my BVN?
No, removing your BVN from Binance does not notify your bank. The deletion only affects your Binance account.
Can I recover my deleted BVN from Binance?
Unfortunately, once your BVN is removed from Binance, there is no way to recover it. You’ll have to add it again and re-verify your account.
Is it risky to use Binance without BVN?
There are small risks of account suspension. But plenty of users from other countries use Binance without BVN. Just take precautions to secure your account.
Removing your BVN from Binance gives you greater privacy and control over your personal data. While verification requirements will be stricter, alternative options exist to validate your identity.
We highly recommend enabling 2FA, using strong passwords, withdrawing assets to private wallets and monitoring account activity frequently. This will help keep your Binance account secure even after deleting your BVN.
Overall, the process of erasing BVN is quick and straightforward. Just head to your Binance profile, click the trash icon and confirm the deletion. You’ll be able to enjoy the Binance platform with added privacy.
Did you find this guide helpful for removing your BVN from Binance? Let us know if you have any other questions in the comments! We’re happy to provide tips for securely managing your crypto without BVN.Sharing Is Caring: