In order to begin investing in cryptocurrencies, you first need to sign up for an exchange. This can be a daunting task, but don’t worry, we’re here to help! In this step-by-step guide, we will walk you through the process of signing up for an exchange and getting started with investing in crypto. So whether you’re a beginner or experienced trader, read on for all the information you need to get started!
5-Step Guide on How to Sign up for a Crypto Exchange
Below, we’ll outline how to sign up for a crypto exchange. It’s important to note that each exchange has its own method/requirements for signing up.
Step 1: Choose An Exchange
In order to sign up for an exchange, you’ll first need to choose which crypto exchange. There are a few things to consider when choosing an exchange:
- What type of trader are you? (Beginner, Intermediate, Experienced)
- What currencies do you want to trade?
- What country are you located in?
Some exchanges only allow certain countries. Exchanges usually differ on the number of cryptocurrencies they offer. By answering each of these questions, you should have a pretty good start on which exchanges will best suite your needs. To see a complete list of our top ranked exchanges, read our article “69 Best Cryptocurrency Exchanges.”
Step 2: Create an Account on Your Chosen Exchange
Usually, you will begin by providing an email and/or creating a username. We recommend using an email you have access to incase you need to change your password in the future. When you create your password, create a secure password that you will remember, but that isn’t a password you use for everything else. The last thing you want is someone accessing your account and messing with your portfolio.
To help with security, a lot of exchanges make their clients set up two factor authentication to ensure that no data breaches or security breaches happen.
Step 3: Provide the Required Personal Information
Users will need verify their identity once they’ve created an account. This ensures that users are of legal age and aren’t from an area of the world that the exchange doesn’t support. This also helps prevent money laundering because they have your information on hand.
You can expect to provide personal information such as your legal name, age, address, and drivers license/passport information.
Step 4: Wait for Your Account to be Approved
The next part of the process is the waiting game. The exchange you choose to do business with will verify your identity using a 3rd party verification software. This process can take a few days depending on the platform.
Step 5: Start Trading!
Once your account is verified, you’re ready to enter into the market of crypto! Do your research and invest wisely!
What is a Crypto Exchange?
A crypto exchange is a digital marketplace where you can buy, sell, or trade cryptocurrencies. Some companies allow you to trade fiat currencies (like USD or EUR) for cryptocurrencies, while others only allow trading between different cryptocurrencies.
What are the Best Crypto Exchanges?
What are the Best Crypto Exchanges?If you want to see which exchange is best, we have ranked our top exchanges in another article.
How do I Trade Crypto?
If you’re looking for a guide to learn how to trade crypto, check out our beginners guide on how to trade crypto. As with any type of investing, it’s vital to do research before you invest.
Wrap Up.
Investing in crypto can be an exciting skill to learn. We all have to start somewhere and that somewhere is signing up for a crypto exchange. By following our simple 5-step process, you should be headed in the right direction!
