The market of cryptocurrency ecosystem or digital assets has created so much commotion that the six letters ‘crypto’ is enough to pull all the attention in the room. It is in existence for the last twelve years, but it is still away from getting the status of legal tender. But, the good thing is that non-recognition from the governments has not stopped this market and millions of people across the globe are actively using crypto for payments of commodities and services.
On the other hand, numerous people are still trying to fit in taking one step at a time. You will find umpteen people like you who are yet to open an account on a crypto platform. You will get the needed information by the end of this post to get registered on a crypto exchange. The steps are easy and do not take much of your precious time. You can execute the following steps in this process.
1. Select the best crypto exchange
You cannot proceed with the crypto trading process without choosing a crypto exchange. All you have to do is type “crypto exchange” on the Search Engine of your browser to check the list of exchanges. You will see abundant options on the SERP (Search Engine Results Page). The cautionary point here is that you cannot be random while choosing your crypto exchange. The chosen exchange will determine the safety of your funds, and you must be wise and selective. You should weigh the worthiness of the exchange by checking several parameters like:
- Licensing of the site/ app
- Safety protocols like SSL encryption
- Types of supported cryptocurrencies
- Modes of payment options available
- Easiness or complexity of the interface
- Feedback from other users or investors
2. Keep essential documents handy
After being utterly careful in selecting the best crypto exchange, you will have to submit a few documents to verify your identity. Do not worry about having to share such documents; these are mandatory to protect the interest of all traders. The exchange platform usually asks for a name, address, contact, country, etc. to create an account. Enter the OTP sent to the phone number and you must submit the following documents to verify your KYC:
- Voter ID
- Passport
- PAN Card
- Aadhar Card
- Driving License
- Other proof of address
Make sure, you must check the list of approved countries of such exchanges because you cannot trade on an exchange where your country is not listed. Basically, you need to use your fiat currency to buy crypto from your exchange account, and most of these exchanges do not support all fiat currencies.
3. Careful verification of bank account
Since your crypto account needs to be linked with a bank account or other digital wallets for further trading, you will have to verify the same. You must be very conscious while sharing these details as these are sensitive. These are mandatory so you cannot choose to skip but remember to share bank details only with a reliable crypto exchange platform. The required details for bank account verification usually include:
- Bank account number
- IFSC code
- Branch name
- Scanned photograph of canceled cheque, passbook, or bank statement (self-attested)
Also, if you wish to be experimental and explore the new horizons of digital currencies available in different parts of the world, you may visit Sitio Oficial which allows trading the particular Chinese currency. Remember to use only safe platforms for the best experiences. Here are the essentials steps you will have to follow more or less in all types of exchanges to register yourself as a trade of cryptocurrencies.
Conclusion:
The hosts of the crypto exchanges wish to keep the registration procedure simple and doable for everyone. Thus, the steps at almost all of the exchanges may seem to be similar to one another. However, some factors like user-friendly interface, quick loading of the pages, availability of app instead of only a website, number of payment options available, and most significantly, the safety of each transaction can be different on such platforms. You must tick all these points before registering yourself with any exchange for a secured crypto trading experience.