I was going through a forum yesterday and some one asked this question” Does Binance allow multiple accounts for an individual”. This question is important because some users may want to test trading bots, circumvent limits for unverified users, and many other purposes. This guide is about me helping you find out the truth. So, lets start.
In the forum, I saw many interesting replies. Some one said
“Yes it is allowed. However you can not use the same verification document for both the accounts. Using a passport for 1 account and using your driver’s license for the the other account is the way to go.”
Another contributors said this, Yes it is allowed. However you can not use the same verification document for both the accounts. Using a passport for 1 account and using your driver’s license for the the other account is the way to go.
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While these sounds smart, and looks like a quick walk around, this doesn’t work on Binance anymore.
Again, you ask does Binance allow multiple accounts for an individual?
The simple answer is No. Officially, it is a taboo to have multiple binance accounts. Binance doesn’t permit or allow accounts for any individual for whatever reason.
However, there are other legal methods permitted by Binance that enabled individuals create multiple accounts. This method is called SubAccount.
How to have Multiple accounts account on Binance
What is a SubAccount?
A SubAccount permits individuals like me and you trade and perform transactions on Binance exchange platform using multiple accounts. The problem with SubAccount is that it is elitist.
To have a subaccount, an individual must own a verified account with a VIP 1 status. That individual can get this status if his trading volume for the month is at least 50 BTC. This means that, If you trade large volumes, it will not be difficult to create a second account on binance. As a matter of fact, VIP1 are allowed a total of 200 subaccounts.
Of course, the above scenario doesn’t suit many people. Not many binance users trade up to 1btc monthly not to talk of 50btc. Since most traders have significantly smaller monthly volumes. If you fall under this category, you can have a second binance account the manual way. The next best question is, what is the manual way? The manual way involves using a different official personal details, with the aid of VPN to register and verify another binance account. This method is not recommended as an individual may lose his or her account, if Binance notices a relationship.
How to have a second Binance accounts: the manual way, without the risk of being banned.
As said earlier, Binance can ban several accounts only if they notice any relationship between them. The major parameter that gives traders away is their IP addresses. So, when you create a second account on the binance, it is absolutely important you change your device IP. You can do this by using a very good VPN services. So, whenever you are logging into your second, always switch to to IP you used when creating it. To make it less complicated and easier, the best is to have two separate devices for both of your accounts.
But if you use one phone (this is more risky, as you could forget to switch on your IP one day). It is important to not forget to change the IP address before each login to the second binance account.
The second thing you need to pay attention is the registration data. It will be perfect to register with the mobile operator of the country with the IP that you will use the exchange. In this case, it will be impossible to get to the account. How can you do this, you might want to use virtual numbers, or ask your friends that live abroad to help you verify with their numbers (assuming the IP you chose tallies with your friend’s country)
Immediately after registration, go in and enable two-factor authentication instead of SMS confirmations.
If you do the above well and good enough, you can have several working accounts on the binance exchange without any risks.