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Do you want to get rid of your Binance account and are you trying to figure out how to delete Binance Account?
Then, we have the solution of “how to delete Binance account” in this article.
Here you will learn how you can either delete or temporarily disable your Binance account.
Temporarily disabling your account means your data is preserved and you can reactivate it anytime you want.
However, deleting your Binance account will result in completely deleting your data and your personal information.
The process for both the options is given below, so make sure you read it till the end.
What is Binance Exchange?
Binance is a currency exchange platform where people can purchase and sell their crypto assets.
It allows traders to transact in a majority of the cryptocurrencies available.
To keep your financial assets safe and secure, Binance has the provision of a wallet.
In the wallet, you can store your cryptocurrencies and use them for transactions.
Binance provides a host of features for traders to generate revenues and make profits with crypto trading.
It provides customized feedback and guidance to let you make smart trading decisions.
The platform also features its domestic currency, which is known as Binance Coin.
The word “Binance” is derived partially from two terms: Bitcoin & Finance. Binance promises enhanced levels of financial security for your assets.
Owing to its multi-level platform infrastructure, it provides its users with a phenomenal transacting capacity.
According to the sources, the platform can compute and fulfill more than 1.4 million transactions every second.
Binance currently allows trade-in of over 500 cryptocurrencies, a few of which include Bitcoin, litecoin, and its domestic currency, Binance Coin.
Should You Delete Your Binance Account?
Let us see if you should remove your Binance account or not.
- The rules and regulations of Binance vary for different countries. These rules also keep getting changed owing to countless other factors. Because of this, users from a few restricted countries won’t be able to trade on certain days due to an account freeze. If your country’s government has restricted Binance, you cannot trade with Binance anymore. What you can do in those cases is, you may send the digital assets to other crypto trading platforms. Also, you should reach out to the Binance support team to figure out why your account is no longer accessible.
- Some banks in the UK, such as Barclays and Santander, have been reported for the action banning transactions from Binance. These sudden actions have spread a worry amongst the customers about banking, and thus many of the customers want to close their accounts. This may very well be the start of a new trend and soon the regulations on such large transactions are sure to be applied, unaffected by public agreement. So if you are one of the people who have noticed these actions, you might be here to take care of it by deleting your Binance account.
- Cryptocurrencies are highly volatile. They have shown some extreme movements all these years when compared with other assets. Traders find it difficult to make smart decisions due to the volatile nature of crypto assets. If you feel you can no longer cope with its fluctuations, you may want to know how to delete Binance account. Binance provides holistic features for trading, but it may not suit you on a personal level. You may want to try our other alternatives in the market. In any of the above cases, deleting your Binance account will be the most sensible decision.
- Other factors that may prompt you to delete your Binance account can be transaction delays or repeated failures, software glitches, or technical bugs. You may not find its dashboard panel very user-friendly. If this is the case, you will have a difficult time navigating the thing you’re trying to search for and it may frustrate you in the process. If nothing else, Binance’s spammy and repetitive emails and newsletters can put you on a call to deleting your account.
But before you learn how to delete Binance account, you need to ensure your data is permanently deleted from the account as well.
This will reduce the risk of cybercrime against you and this will further prove to be a necessary precaution.
The personal information if left unnoticed, could be sold against you putting you at the risk of being a victim of cybercrime.
That is why one must make sure to close their account permanently.
The Important Thing to Check Before Closing Your Binance Account
Your funds- Check if all of your funds are withdrawn. You cannot turn your balance to exactly zero, so try withdrawing maximum funds until the balance is less than or equal to 0.001 BTC.
To know how to withdraw your funds from your Binance account, follow this tutorial.
How to Withdraw Your Cryptocurrency Before You Delete Your Account on Binance
If you’ve decided to finally go with how to delete Binance account, then you should start by withdrawing all of the assets from your account.
Follow the below-mentioned steps to do that:
- Launch your Internet browser.
- Visit the official website of Binance.
- Tap on the Sign-in option from the menu
- Input your login credentials. Your account will show up once you sign in successfully.
- As it displays your account, tap on the Funds option. Select “Deposit vls and Withdrawals”.
- Here, you have to pick up the types of cryptocurrency you wish to redeem.
- Choose the cryptocurrency and tap on the withdrawal option. Type down the tag, address details, and total amount and tap on the Submit button.
- Once this process is done, Binance will send a response to your linked email id. It will be titled “Withdrawal Request confirmation”. Confirm the details of the email before you move ahead.
- Now, when you verify all the details, you can allow the withdrawal process to move further. As the procedure finishes, Binance will provide you with the option to monitor the progress.
Why Am I Not Able to Delete My Binance Account?
Whilst trying to figure out how to delete Binance account one might face difficulty as we did.
After the 3rd step we were presented with only one option, i.e. Disable your account. Thus blocking our path to permanently delete the account.
We are not sure if they have made it unable to delete the Binance account permanently and it’s down to using the Binance UK.
Upon contacting Customer support, we were told that the option to delete Binance was no longer available.
“According to our T & C, we do not provide the option to delete your Binance account. However, we do allow users to disable their accounts temporarily using the link given below. This act is an effort to ensure your and our safety. The option to delete a Binance account was given in the past. However, we have noticed, that disabling your profile instead of deleting it is in the best interests of both parties. Upon disabling your Binance account, your data will remain unscathed and untouched. No one can access your data like email address, phone number, and even your documents after disabling your account.”
We couldn’t find the full reasoning behind this decision. We hope that this issue will be discussed and resolved since the company is being pressured by FCA.
Even so, we recommend using the Binance exchange to buy cryptocurrency.
However, this action by the company is a thing to worry about and we have a strong belief that the customers should be able to choose to delete the Binance account and thus discard their data from the system.
These should be fundamental rights to a customer.
How Can I Disable My Binance Account?
Rather than learning how to delete Binance account, which is a one-time irreversible action, you can choose to disable your Binance account.
The advantage is if in the future you ever change your decision you can always come back and reactivate it.
This way you won’t lose your precious user data as you will do with the former.
You can decide to disable your account in the beginning and if that doesn’t work out, the option to delete it is always there.
So, follow the steps we have mentioned above in the article to disable your Binance account.
As you disable your account, Binance will restrict certain privileges and you don’t have complete access to all of its features.
A few of these restricted privileges include:
- You won’t be able to Sign in as your account is not active.
- Your API keys will be deleted so you can’t use them
- You can’t use the account on any of the devices you’ve used to sign in earlier, as the disabling process removes all of the previous data.
- Trading and making transactions with your account
- If there’s any unfulfilled transaction that’s waiting to be fulfilled from your side, it will be canceled.
If you change your decision and feel like getting your account back you can anytime choose to reactivate it.
What you have to keep in mind is that once you deactivate your account, you can’t reactivate it for 2 hours.
After that, you can reactivate your Binance account and continue trading as usual.
How to Delete Binance Account?
Take the below-mentioned steps to delete your Binance account:
1. Sign in To Your Binance Account
To begin with, go to the official website of Binance Exchange. If you are based in the US, try Binance.us. Or else you can just input Binance.com in your web browser.
Once the site opens up, enter your login details. As you log in, tap on the Account option on the navigation bar at the top, which is your Profile icon as well.
2. Click on The Security Option
Beneath the Account logo, if you scroll down you will find the Security option. Tap on it to proceed
3. Disable Your Account
As the Security sections open up, you will find one checklist to enhance your account security.
Move down to the bottom of this section to find “Account Activity”. You should see “Suspicious Account Activity.” Tap on the “Disable Account” option there
4. Delete your Binance Account
The platform will display 2 options:
- “Delete your account”
- “Disable your Account”
Keep in mind that once removed, your Binance account can’t be retrieved and you will lose all of your data forever.
Hence, be very cautious when proceeding with this step. If you’ve finalized your decision to remove your account, then tap on the “Delete this Account” option.
Note – In a few cases, you may not find “Delete your Account” and you will just see the “Disable this Account” option.
If this happens, immediately contact customer support.
5. Submit the Application to Delete the Account
The final step in deleting and closing your Binance account involves filling out an account removal Form.
To submit this “Delete account application”, you are required to furnish your Email ID or Phone number linked to your account.
Ensure to go through all the terms and conditions thoroughly before you submit the form after filling it.
Once you submit this form and your account is deleted, there’s no way for you to recover it.
So, only after being certain that you have to proceed, tap on the Confirm to Delete option.
Binance will assess your application form to fulfill your deletion request. In certain situations, their team may even contact you for additional procedures.
How to Delete Binance Account Forever
If you observe all the steps mentioned in the article as specified, you will be able to easily know how to delete Binance account.
Even though the process is quite straightforward and doesn’t demand any prior expertise of the platform, in certain circumstances you will be asked to upload or furnish necessary papers and documents.
This may elongate the process a little bit, but you should comply with all the rules to get your account deleted.
Keep in mind not to fix any asset or high monetary amount in your Binance account, as upon deleting the account you will not be able to recover those assets.
We generally do not encourage you to remove your Binance account.
However, if you feel the privacy and security of your account have been compromised, then the ideal solution is to disable your Binance account.
When you disable your account, it’s not lost forever.
It’s temporary enforcement, and you can get your account back after hours if you feel like it.
If you choose to delete your Binance account, then keep in mind that it’s not a reversible action.
Once you take that step, the effect is permanent and you will lose your account forever.
That is why we recommend that you should go for the disable option rather than deleting the account as you will always have the possibility of reactivating it in the future.
Here we’ve mentioned a few of the most frequently asked questions related to the Binance trading platform:
How Can I Secure My Binance Account?
It’s important to protect your account before you make transactions or initial any trading in cryptocurrencies.
With a little bit of negligence, you can end up getting compromised. Being cautious from the start can help you avoid such situations.
Follow the below-mentioned steps to ensure the proper safety of your Binance account:
Make Your Passwords Unique
The passwords you choose must be unique and personalized. They should not be something obvious like your birth dates that are easy to guess.
As it involves a financial matter, you have to be extra cautious with the password you select for your Binance account.
The platform mandates the password to be of a minimum of 8 characters.
It also encourages you to keep a blend of different character types to increase the complexity of your password.
Hackers can have multiple strategies to access your password irrespective of how complex they are.
Because of this, we advise that you update your Binance password on a regular basis.
In certain cases, hackers may target the email connected with your Binance profile. Hence, change your email password as well from time to time.
Safeguard Your Additional Funds
Binance is a popular place for traders to invest their money. Your trading account should not be used as a wallet.
Hackers may attack your trading account at any time.
Binance also has a savings account function that you may use. It is, however, dangerous.
We recommend moving your spare cash to a hardware wallet since it is safer.
Is Binance Trustworthy?
Many investors consider Binance to be a viable option when it comes to their trading requirements.
The two-factor authentication provides additional protection to your account data and transaction details.
This is, not to say that Binance is the ideal platform.
But when we consider the overall picture, Binance offers to provide a comprehensive package to cater to a majority of your needs at a very reasonable price.
The years of experience Binance holds add to its credibility.
Binance is also the topmost crypto exchange when we consider its daily transactional volume.
When you also count on their capacity to provide a genuinely global service while remaining independent of the Chinese government, there isn’t enough competition against it.
What Services Does Binance Offer?
Binance is not the platform meant only for trading cryptocurrencies.
Other than the facilities it provides related to crypto trading, it also lets users enjoy the following privileges:
1. Through Binance Earn, you can invest money on your platform and generate revenue in the form of regular interest.
You can deposit your assets in the form of stable coins.
Based on the kind of cryptocurrency that you invest in and its validity, Binance provides you with numerous investment alternatives that offer you different interest amounts.
2. Binance Labs is a blockchain-based initiative that aims at developing innovative pre-ICO phase startups.
It provides required cash for research, advising services, and a hub for every needed registration and financing activities to suitable cryptocurrency workgroups.
3. The Binance Visa Card enables customers to change their bitcoin into conventional cash and expend it on commodities.
Although there are no administrative costs involved with the transfer, third-party charges in the form of card processing charges will be applicable.
4. Miners can change between multiple coins for computing on the Binance virtual network to maximize and increase their earnings.
5. Binance now has a LaunchPad portal where current and innovative blockchain applications and API gateways can be hosted. 42 initiatives have been started since March 2021.
We hope by now you know how to delete Binance account. Binance is among the most popular cryptocurrency exchanges in the world.
In the article, we talked about the steps you can take to disable or delete your account as per your preferences.
Please make sure to remove your crypto cash before freezing your account. The action of disabling your account can’t be taken back.
Once deleted, you can use decentralized exchanges to keep your cryptocurrency for trading and transactions.
Following the steps outlined in this article, you can know how to delete Binance account.