When opening a Binance account, you'll see two options: "Personal Account" and "Corporate/Institutional Account." Many people aren't sure which to choose or what the differences are. This article helps you sort it out.
Individual users can simply register on Binance directly. We recommend downloading the Binance App for easier operation.
Different Verification Methods
Personal accounts require KYC with an ID document and facial recognition.
Corporate accounts require KYB (Know Your Business) with company registration certificates, business licenses, shareholder structures, beneficial ownership information, and other corporate documents.
Different Limits
Corporate accounts typically have higher deposit and withdrawal limits. If your business requires frequent large transactions, corporate account limits are better suited to your needs.
Sub-Account Features
Corporate accounts can create more sub-accounts, making it convenient for different departments or traders to operate independently. Personal accounts also have sub-account functionality, but with more limited numbers and permissions.
Tax and Compliance
Using a crypto exchange under a corporate identity is more standardized for tax reporting and regulatory compliance. Many countries require clear accounting records for corporate crypto transactions, and a corporate account helps meet these requirements.
Fee Rates
The base fee rates are the same for both. However, corporate accounts may more easily reach VIP tier trading volume requirements (since multiple sub-accounts' trading volumes can be combined), resulting in lower fee rates.
Which Should You Choose
If you're an individual investor, just choose a personal account -- it's simple and convenient.
If you're investing under a company name, doing quantitative trading, or running a crypto-related business (such as payments, OTC, etc.), a corporate account is more appropriate.
Note: Personal and corporate accounts cannot be converted to each other. If you've already registered with a personal account and want to switch to corporate, you'll need to register a new corporate account with a different email.