Binance Phone Number Data: What It Is and Why It Matters

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Binance, one of the world’s largest cryptocurrency exchanges, requires users to provide phone numbers as part of its identity verification and security process. But what exactly happens with this data? As data privacy becomes more important to users, understanding how Binance handles your phone number can help you make better-informed decisions when trading crypto.

Why Binance Collects Your Phone Number
When you create a Binance account, you're binance phone number data to enter your phone number for two key reasons: account verification and security. Binance uses Two-Factor Authentication (2FA) via SMS to help protect your account from unauthorized access. Your phone number is also used for alerts, including login attempts, withdrawal confirmations, and important security notifications.

Additionally, Binance is required to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations in many jurisdictions. Phone number verification helps confirm user identities, preventing fraud and illicit activity on the platform.