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7 Frequent Mistakes in Binance Exchange and Their Solution

Binance Exchange

You May Also Encounter Problems Such As Blocking Your Account, Forgetting Your Password, Or Losing Your Assets While Working With Digital Currency Exchanges. 

Because most Iranian users of digital currencies Binance Exchange use to buy and sell their assets, a significant part of user reports is dedicated to the problems and challenges of working with this exchange.

Most of these problems are due to simple negligence and disregard for things that users themselves are aware of; Others are due to a lack of awareness of how the China Blockchain network works or a particular exchange’s rules and technical mechanism.

Apart from these cases, Iranian users of Binance Exchange also face problems such as the non-authentication of their user accounts (due to sanctions), which increases the overall risk of operating in this exchange.

In this article, we want to examine 7 of the most frequent errors of users in the Binance exchange and explain the solution to these problems in full.

A summary of the most common user errors in Binance Exchange

Here are some of the most common errors and problems that occur for users of Binance Exchange and briefly explain the solution to each problem.

In the continuation of this article, we will fully explain each of the issues raised and its solution.

Deactivation of Binance account due to login with IP of different countries

As you know, Binance Exchange refuses to serve Iranian users (IP Iran) due to compliance with international financial sanctions. For this reason, most Iranian users have to use IP change software to use Binance Exchange.

If you use the same method, it is better to create your account with the IP of a country that has more liberal rules regarding digital currencies. At present, Eastern European countries are good options for this.

After creating a Binance account, make sure that to maintain the security of your assets, it is better to always log in to your account with the IP of a country. Failure to do so could result in Binance Exchange blocking your account and locking or freezing your assets.

If your account is locked in Binance, follow the steps below to reactivate.

1- Log in to the account and select the Unlock option to the Binance exchange website at the address finance.com and log in to your account. Once logged in, the following window will open for you. In this window, click “Unlock” to begin the process of activating your account.

2- After studying the conditions, confirm the reactivation.
In the next window, after reading the rules of reactivation of the account, check them. Then click on “Reactivate Account” to go to the next step.

3- Answer the security questions
At this stage, according to the instructions you see on the page, you should complete the verification steps by answering a few security questions. These questions are related to your account balance, and by answering them, you can assure Binance Exchange that you are recovering your account yourself.

Binance Security Questionnaire, before reactivating the account

Note that if you are unsure of the answer to a question, not answering it is better than answering it incorrectly.

An example of Binance security questions about the approximate value of an account balance

4. Confirmation Email
After you submit your data, the Binance system will automatically send you a confirmation email. Check your email account and in the email from Binance, click on “Confirm Reactivate” to go to the next step.

5- Authentication
At this stage, you must send a picture of your identity documents (passport) to Binance Exchange. Note that authentication using fake credentials is a crime under international law. So it is better to do this with your real passport.

In this window, click the “Next” button to begin the authentication process.

• Select the type of identity document and the country of issue.

• Send the image to your ID.

• Send the image on the back of your ID.

• Take a clear selfie of yourself (screenshots or edited images will not accept).

6- Face verification
In the next step, you should scan your face using the Binance smart face recognition system to match the image of your identity documents.

To do this, using the Android or IOS Binance app, scan the QR code of this page (as shown above) to begin the face verification process.

To do this, from the top corner, click on the scan icon (like the image below). Then select the Begin Verification option on the Facial verification page. Note that you should not use hats, glasses, and image filters when scanning your face.

Face verification method in Binance Android application

Finally, on the Facial verification page on the Binance website, select I have completed on my phone. After completing the information, Binance will review your request and announce the result via email.

Forget Binance Account Password

If you have forgotten your Binance account password, you can retrieve it through the Binance website and app. Note that after resetting the password, the possibility of withdrawing from the account for security reasons will suspend for up to 24 hours.

To recover your account password, follow these steps:

1. To the Binance website at Binance.com, Go and click “Login.”

If you are using Binance mobile software, click on “Login / Register.”

2. On the login page, click “Forgot Password.”

3. Click “Continue.” As you can see in the image below, Binance warns that after resetting the password, the possibility of withdrawing from the account will suspend for up to 24 hours for security reasons.

4. Enter the email or mobile number of your Binance account and then click “Next.” Note that Iranian Binance users, for security reasons, register and create an account via email and do not report their phone numbers to the exchange. So when recovering your password, follow the steps via your email.

5. Complete the puzzle ‌ Security test.

6. Enter the verification code sent to your email and click “Next.”

7. Enter the new password you want and click “Next.”

Change Binance Account Password

8. Your password has now been successfully reset. Please log in with your new password.

2FA code error

Before explaining this problem, let’s learn more about the 2-factor authentication code (2FA). The software used for this purpose is Google Authenticator. This software generates a 30-second one-time password to log in to various user accounts.

To log in to Binance, you must first enter your username (email) and password. Binance will ask you to enter a two-factor authentication code on the Security Verification page if the input is correct. But after entering the code, you may encounter this message:

Two-factor authentication code error

Binance warns that the code entered is incorrect. However, the code corresponds exactly to what is stated in the Google Authenticator software. The reason for this is usually that software time is not synchronized.

When the time is not synchronized, the Google Authenticator code is displayed on your phone; But when you enter it, the system considers the password expired. To solve this problem, follow the method below:

If the problem persists, you can try the following methods:

If none of the above work for you, try resetting Google Authenticator.

Loss of 2FA code (losing phone)

A two-factor authentication system is a method that ensures that no one but the account holder has access to the account. However, if you lose access to the Google Authenticator app for any reason, such as losing or stealing your phoneyour account security will compromise.

If such a problem occurs, two things will happen to you:

2FA code recovery key (in the red box); When activating a two-factor authentication system, you must back up this key and keep it in a safe place.

In the following, we will examine both modes and explain how to log in to the account and reset the 2FA code.

Case 1: When you have the 2FA code recovery key

If you took security precautions and backed up your 2FA recovery key when you first activated the two-factor authentication system, you can now easily install the Google Authenticator app on another device (phone) and manually enter the recovery key, or CV Code Scan Access your 2FA account code.

After doing this, follow these steps to reset the 2FA code:

1. Log in to your Binance account and click on the profile to enter the Security section.

2. In the Two-Factor Authentication (2FA) section, click the Change option in front of Google Authentication to directly replace the current Google Authentication. Note that you will not withdraw from your account for up to 24 hours if you make this change.

3. In the window that opens, carefully read the conditions (24-hour withdrawal from the account) and click on Confirm.

4. To remove the previous Google Authenticator, you must confirm this request through devices associated with the previous 2FA code. To do this, enter the code sent to the email and the 2FA code in the display form shown in the image below and click Remove and continue.

5. Scan the displayed QR code using the Google Authenticator app or manually enter the text code. Then click Next.

6. Save the 2FA code recovery key (preferably) physically and on paper. In this case, whenever you lose access to the app, you can still retrieve your Google Authenticator Binance account on another device. After saving the key, click the Next button.

7. In this step, enter the code sent to the email and the 2FA code received in your new Google Authenticator to complete the steps.

Case 2: When you do not have the 2FA code recovery key

If for any reason you do not have the 2FA recovery code (for example, you lost it or did not save it from the beginning), you will not be able to recover your Google Authenticator on another device, and as a result, you will not be able to sign in to your account.

In this case, follow these steps to reset your Google Authentication account:

1. Go to the Binance login page and log in to your account via email and password. On the “Security verification” page, click on the “Security verification unavailable” option to go to the next step.

2. Select the option for Google Authenticator and then click the “Confirm reset” button.

3. In this step, enter the verification code sent to your email and click the “Submit” button. Note that the verification code sent will be valid for up to 30 minutes.

4. Answer security questions.

5. Authenticate yourself.

Click the “Next” button to begin the authentication process.

Select the type of identity document and the country of issue.

Submit the image on your ID.

Submit the image on the back of your ID.

Send a clear selfie (screenshots or edited images will not accept).

6. Confirm your face.

If you have done these steps from your computer browser, click on “Begin Verification.” Otherwise, click “Use mobile phone” to get a QR code. Then scan the QR code with the Binance software installed on your phone.

To do this, open the Binance app and click on the scan icon in the upper left corner of the screen from the “home” section. Then click on Begin verification from the page that opens.

After completing these steps, the Binance team will review your application at the earliest opportunity.

Note that the actions taken by different users will vary depending on their account status and related information.

Send BEP20 tokens to wallets incompatible with the BSC network.

BEP20 is a token standard in the China Binance Smart China (BSC) blockchain that has a mechanism similar to the ERC20 token, the most common token standard in the Atrium blockchain. Users can create an asset based on the BEP20 token in Binance Smart China or even attach tokens from other blockchains to these tokens to be usable in the Binance Smart China network. These tokens are called “Peggy coins,” originally the BEP20 version of other digital assets.

In this section, we want to examine the cases in which the user mistakenly sent BEP20 tokens to wallets that only support Atrium tokens.

Withdrawal withdrawals from Binance Exchange

Sending tokens to exchange offices and wallets

If a user mistakenly sends a BEP20 token to other trading platforms over an unsupported network, these tokens can no longer retrieve. For this reason, it is best to read through the proper methods of the transfer before making any transfer.
Also, if you have transferred your BEP20 tokens to so-called (wallet) wallets that do not support China’s Binance Smart network. Because in these wallets, users have no access to their private keys and can not retrieve their tokens in another wallet that supports it.

In such cases, it is best to contact the wallet support team.

Send BEP20 tokens to Atrium wallets.

If you mistakenly sent the BEP20 token to a wallet that does not support China SmartBinance, you can access your tokens by adding the China Smart Binance network to this wallet or retrieving the private key in the wallet that supports BEP20 tokens. Be.

Note that you should always take great care of your private key and your seed phrase. If you lose or steal a private key or reminder, your property will not return.

Connecting the wallet to China Binance Smart Network

This solution works for wallets that can support both Atrium and Binance Smart China. For example, if your BEP20 tokens Metamorphic wallet(Metamask) you have deposited, all you have to do is manually add China Binance Smart Network to it and activate its connection. By doing this, you will see your BEP20 tokens in your wallet.

Follow the steps below to connect the Metamsk wallet to China Binance Smart Network:

First, open your wallet and enter the menu in the right corner, then enter the settings option.

Then enter the Networks tab and click on Add Network in this section.

You will now take to a page where you must enter the following information.

Network Name:  Smart Chain
New RPC URL:  https://bsc-dataseed.binance.org/
Chanel:  56
Symbol:  BNB
Block Explorer URL: https://bscscan.com

Then save this information.

Retrieve BEP20 tokens via a compatible Binance Smart China wallet:

In this method, you have to retrieve the private key of the address to which you sent the tokens in a wallet compatible with the China Binance Smart Network to access your BEP20 tokens. Binance Chain Wallet and trust Walt (Trust Wallet) and other wallets are compatible with China Smart Binance.

For example, the Binance China wallet, which is available as a browser plugin, is used in this section.

Step 1: Download the China Binance Wallet Plugin and install it on your Chrome or Firefox browser.

Step 2: Create an account in Binance China Wallet and write down the recovery phrase.

Step 3: Open the wallet to which you first sent the tokens and copy the address’s private key.

Step 4: In the Binance China wallet, click the Account button on the top right. On the Account page, select the Import Account option, and on the page that opens, enter your private key. Then click on Import.

Step 5: After logging in to your new account, you will see BEP20 tokens.

Please note that withdrawing assets from Binance Smart China or Binance China requires a fee with Binance Coin (BNB). Therefore, he must already have a small amount of BNB in ​​his wallet to complete the transaction.

Do not enter or incorrectly enter tags or memos when depositing Binance.

A tag or memo is a unique identifier assigned to each account in Binance. The use of a tag or memo is to make the deposit of currency or credit in the relevant account identifiable. When certain digital currencies such as BinanceQueen (BNB), Nam (XEM), Stellar (XLM), Ripple (XRP), KAVA, LUNA, Kazmas (ATOM), Protocol (BAND), IOS (EOS), Or any other digital currency you deposit to Binance, you must enter the relevant tag or memo to make the deposit successful.

If you mistakenly enter a tag or memo when depositing a currency into a Binance exchange, you can recover your assets by filling out a special form ( Tag / Memo Recovery ).

Note that this method is for deposit to Binance account transactions. If you enter the wrong tag or memo when withdrawing from your Binance account, Binance Exchange will not be able to help you. In this case, you should contact the platform to which the withdrawn currency transfer. In the event of such a mistake, you may lose your property.

Tutorial for filling out the Tag / Memo Recovery form

Follow the steps below to fill out the Tag / Memo Recovery form:

1. Log in to your Binance account and fill out the tag/memo recovery form page with this link Open.

2. Enter your deposit details in the form.

Token:
Use the search field to find the assets you want to recover. Note that you can only request recovery for currencies listed in Binance Exchange. If you do not find the deposited digital currency in the list, you should proceed to the special section of self-service recovery.

Source Address:
Enter the sender’s address in the box next to “From” or “Sender.”

Deposit amount:
Enter the exact deposit amount. Up to 8 decimal places are supported in this section. Do not enter more than one decimal place. Also, be careful not to use delimiter (,) characters when entering the deposit amount number.

Transaction ID (TxID) or hash ID (TxHash):
TxID or TxHash is an identification number assigned to each transaction on the blockchain. Make sure you copy the correct TxID and enter it in the appropriate field. Do not enter any information other than TxID in this field. Information such as deposit amount, withdrawal address, unique identification code, and email address, or similar information should not enter in this section at all.

Check the details you entered in the form one more time and after confirming, click the “Submit” button. After submitting the form, you can see the status of your application in the Request History section «Application Records.»See.

Things to keep in mind

Possible reasons It is not possible to send a recovery form:

Deposit unlisted tokens or deposit to the wrong address

If you have mistakenly sent the tokens not listed in the Binance Exchange to one of your account addresses, you can return these tokens by filling out and submitting a self-service recovery form.

Read the following steps carefully before submitting your self-service recovery request; Binance will not help you at all in the event of a mistake.

Which transactions can be retrieved through self-service recovery?

If your deposit does not reach your account after one hour and the transaction related to it has recovery conditions, fill out the self-service recovery form to recover your deposit.

How to use self-service recovery

Step 1:
Log in to your account on the Binance website and go to this Address go. Enter your deposit details and click the “Submit” button. Copy and paste the address and TxID or TxHash to ensure the information you enter here.

Step 2:
Check the entered information and after confirming their accuracy, click on the “Submit” button.

Step 3:
After sending the form, you can enter the status of your request in the section Request records look.

Step 4:
If you need to send more information, click on “Upload Files” to upload the files and documents you want.

Note that Binance receives a fee for recovery. Then enter the address to which you want the recovered amount to be deposited and, if necessary, enter the relevant tag or meme carefully.

If the deposit is a withdrawal from another platform, send the transfer records between you and the respective platform along with TxID.

common questions

1. The system incorrectly detects the address or deposit network

The address you enter to receive the refund must be the address of China Binance Wallet or Walt Trust Wallet. If your request is denied again, check the following:

The four types of transactions listed above cannot recover through self-service recovery. If necessary, you can contact Binance Support.

2. Is there a charge for recovering lost funds?

If the recovery is successful, Binance will deduct a fee for it. The fee is listed at the bottom of the application form.

3. Why was my request rejected?

Here are some reasons to reject the application:

Tips on depositing to the wrong address or transferring an unlisted token

In general, Binance does not provide any recovery services for incorrect addresses or depositing unlisted tokens into exchange accounts. But if you make a big mistake due to such a mistake, Binance will help you recover your assets as much as you can.

Binance has comprehensive processes to help recover users’ assets. But you should note that there is no guarantee of a successful recovery of your lost funds. If you find yourself in such a situation, send the following information to Binance to see if recovery can help:

If you have transferred your digital currency to an address that does not belong to Binance, this exchange can not help you at all. To resolve this issue, you can only contact the address owner or the exchange and the platform to which the address belongs.

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