As cryptocurrencies are being legalized by majority of countries around the world, the cost of crypto coins is rising. In addition, the majority of people are showing more interest in trading cryptocurrencies. A cryptocurrency account is one of the first and foremost things to consider if you are considering getting started with crypto trading. However, if you are completely new to the process, here we are going to give you all the details on how to open and trade a cryptocurrency trading account on your own. If you are new to Bitcoin, check out how the Bitcoin wallet works.
Here are some ways to open a crypto trading account.
- App Search
In order for you to create a crypto trading account, the first thing you need to do is to check for a crypto exchange platform that’s reliable. There are many different crypto exchanges available in the market today, you can select any one based on the reviews.
- Downloading Crypto Exchange App
After you have choosing a dependable crypto exchange platform, the first thing you need to do is to create a crypto trading account, for which you will have two options. One of which is to download the app through Play Store (Android) or App Store (iOS) and the other is to create an account directly from the web browser
- Filling the Details
These options are one of the most important that when you click on the Sign-up or Sign-in options, a page is shown where you have to enter your complete details correctly. In which, everything will be included like your name, email, date of birth, address, gender, country, country code and mobile number.
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4: Email Confirmation
Once you have completed and submitted the details, you will be sent a confirmation email to your inbox shortly thereafter. You will need to click on the link to fully verify that sent email address.
- Security option
After all these you will need to select a desired security option. Whereas if you use your mobile number, at the same time you will receive an SMS in which a One-Time Password (OTP) will be given. However, there are also some crypto platforms that have an option that does not offer this step. Furthermore, there are many in which it is considered better to complete this step as it is helpful to add additional security to your cryptocurrency trading account if you use this step. Apart from this, there are many trade exchanges which provide an inbuilt passcode system with the help of which your account can be protected from cyber attacks.
- Account KYC Completion
Once you have signed up or login to the crypto exchange website, you will be presented with a menu bar and a few options below it. Click on them to complete the KYC, where you will see lot of alternative that you can open. However, you need to note that the KYC verification documents may vary depending on the country. So you only need to choose the country where you are currently living. The very first process to do the KYC is that you have to upload some important things which firstly include passport size photograph, government issued ID, home address, postal code as well as other mentioned in the form description.
However, there are some crypto exchanges that allow this option to be omitted from verification. In addition, these accounts are excellent for users who contemplate investing in a small amount of cryptocurrency. Furthermore, if KYC information is not submitted by you, a limited number of transactions will be provided by the crypto exchange as well as only basic functions will be offered. Once you have created your account, you need to complete the KYC details so that you will be able to use the full benefits of the crypto exchange.
