Wealth verification

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Hey so I have some money invested from my savings(im unemployed) and I’ve been hearing about this wealth verification lately. How much money do you need to put in for it to trigger? Or does it trigger upon trying to withdraw your money. I plan on taking out my money through crypto exchanges in real life(im pretty sure they work by you sending them the crypto to their address and they give you cash up front), can this “wealth verification” pose a problem in that case when trying to trade?

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4 Comments

  1. sabinpro on 17. January 2025 at 20:15

    Normally no any exchange asks it. But they will ask in case if you have money coming from SUSPECTED or bad address or connected with hackers/scammers…

     


  2. kdaveT on 17. January 2025 at 20:15

    Make sure your bank is a crypto friendly but mostly banks are not. Just make sure you have enough documents that support where the money came from but I recommend to do not make one stop bulk transfer that came from crypto exchanges just little by little.

     


  3. [deleted] on 17. January 2025 at 20:15

    [removed]

     


  4. BinanceCSHelp on 17. January 2025 at 20:15

    Hi, as Binance we aim to keep the exchange and community safe for everyone. On the other hand, we also have to comply with regional regulations. Therefore, you might be asked to provide the source of your income regardless of the amount of the funds. For further inquiries, please do not hesitate to reach our chat support here: https://www.binance.com/en/chat | TS