How To Register And Open A Crypto Account?
If you are looking to buy cryptocurrency, you’ll need to register an account with one of the few best cryptocurrency exchanges.
Today, we have over 243 cryptocurrency exchanges around the world, and opening an account with one of these exchanges are usually quite easy, but sometimes as a beginner crypto investor or trader, you may want a step by step process to follow when opening your crypto account.
Here I will go through the step by step process when opening an account at one of the most popular crypto currency exchanges.
Disclaimer. This opinion article is purely informative and is for entertainment purposes only. This is not financial advice and I am not a financial advisor. Like you, I am on a journey to learning more about finance, this website is an journal of my journey. Investing in any form of crypto is very risky, it is often not regulated, and unless you know what you are doing, it is better to invest in traditional stock market where regulation is present to keep investors safe. We’re reader-supported. When you signup for the service through our links, we may earn an affiliate commission at no extra cost to you.
Things You’ll Need Before Opening An Crypto Account
Before you start opening and registering an account on the crypto exchanges there are a few things you’ll need to prepare.
1. Understand the risk of investing in crypto
Unlike our traditional investment such as stocks or real estates, cryptocurrency is generally unregulated, and there is a certain risk that you may loss all your money when investing in crypto. Understanding the risk and knowing how to protect yourself when investing in crypto should be the first thing you need to know before jumping into crypto investing.
When investing in crypto, security is utmost important, thus finding exchanges that have high security should be your main concern.
2. Choose your cryptocurrency exchange
Find the right crypto currency exchange where you wants to start buying and selling cryptos. If you are from Singapore, you can check out my article on the Best Crypto Currency Exchange where you can securely buy and sell crypto.
3. Prepare all the information required
When opening an account on a crypto-exchange, it is important to get all the required information prepared, so that you will not be wasting time going around to get all your information and documents. Information that you may require are:
- Email account: A personal email account that is preferably Gmail, or any other secure email providers.
- Registered mobile number: A personal mobile number where you are the only one with access to it.
- Personal Particulars: Your own personal particulars such as, name, date of birth, nationality.
- National Identity Card or Passport: Depending on where you stay some countries like Singapore will require you to verify your identity when you register an account with an crypto currency exchange.
- Stationary: If your country requires you to perform verification of your identity when opening an account you will need a piece of paper and a marker or a pen.
How To Open A Crypto Account
Each cryptocurrency exchange have their own process in registering and opening an account on their exchange platform, but most follow a similar sequences in opening an account.
While some countries required verification of your identity to open an account, some don’t, but in this step by step guide to open a cryptocurrency account, I’ll show you the full process of signing-up and register an account which also includes the verification process.
Crypto.com shows most promise to be the best crypto-currency exchange, thus for this guide I will be opening a new account using Crypto.com.
If you want to follow what I am going to do next, simply start by clicking the link here or the “Create” button below to get started.
Get $10 sign-up bonus with this link and referral code for crypto.com
- Click the “Create” button below.
- Create an account by entering your name and email.
- Enter referral code “cro10” if it is not auto entered.
- Click create account and claim your signup bonus.
1. Sign Up
After you found your preferred crypto exchange to start investing and trading crypto, click the “Sign Up” or “Register” button which is commonly found at the top right hand corner.
You’ll be greeted by a “Sign Up” form where you will enter all your information onto the form.
General information required are:
- First name and last name
- Date of birth
- Nationality
- Personal email
- Referral code or promo code if any (use cro10 for crypto.com to get $10 during sign-up)
- Terms and condition
Once you’ve confirms all the information you can proceed to click “Create Account”.
2. Email Verification
After you click “create account”, the platform will ask you to verify your email. All legit crypto exchange will requires minimally an email verification before you can proceed. This is to prevent people with bad intention to create fake accounts in the crypto exchange.
Since you’ve already entered your email during sign up, here it will send you an One-Time-Password (OTP) to your email for verification.
Simply log into your email and find the OTP sent by the crypto exchange.
Enter your OTP into the box and click verify to proceed to the next step.
3. Phone Verification
Similar to email verification, most crypto exchange will require you to perform phone verification as well. This is to verify that you are a real person, as well as allowing Two-Factor Authentication (2-FA) to ensure your account’s security and prevent you from being hacked by hackers.
Enter your phone number including your country code where you want the verification to be sent and press “Submit”
An OTP will be sent to your registered phone number within 3 minutes depending on your internet service providers.
Enter your OTP and click “Verify”
4. Account Opening Confirmation
After your phone and email confirmation, the crypto exchange will greet you with a confirmation page.
Most of the major cryptocurrency exchanges that seek to be compliance with the countries that it operates will requires you to proceed to perform ID verification.
Known countries or cities where registering on cryptocurrency exchange will require ID verification are:
- Australia
- Canada
- Chile
- European Union
- Hong Kong
- Japan
- Mexico
- Singapore
- South Korea
- Switzerland
- Taiwan
- Thailand
- United Kingdom
- United States
Just click “Continue” and continue your registration process.
5. Identity Verification
Proceed to verify your personal information to continue the registration process.
There are 3 parts of verification you’ll need to do:
- Enter your personal info such as your Full legal name.
- Picture of your government-issued ID such as your National Identity Card, or your Passport.
- A selfie of yourself.
1. Entering full legal name
When entering your Full legal name make sure it is the name you’ve registered with the government. Do not use a nickname.
Make sure to enter your “First Name”, “Last Name” and your “Middle Name” to prevent any issues down the road.
2. Providing a picture of your government-issued ID
When providing your government-issued ID, make sure that your ID includes your full name, your photo, your national ID or security ID. Take note that your ID must be yours and it should be in good condition. Providing a fake ID is illegal and it is an chargeable offence. If your ID is in bad condition, it will be recommended to get an renewal of your ID or approach relative government authorities to make an replacement.
Government-issued ID accepted are:
- Passport
- National ID
- Driving License
If you are in the United States, most cases, US citizens and residents will only required to submit either their state-issued driver’s license or ID.
3. Selfie of yourself
For most cases, this is the part where people generally get confused and not sure who to proceed in performing the selfie verification.
When performing a selfie of yourself, you’ll be need to do the following:
- Take a piece of paper and write the name of the crypto exchange using a marker or a pen.
- Then on the same piece of paper write down the date of the day you are doing the verification. i.e. 01 January 2023. It is need to be the current date.
- Then place your ID on top of the paper and make a selfie with the piece of paper together with your ID.
Once you’ve completed all these steps, simply click the “Submit” button.
6. Phone Verification
With your verification completed, you will be greeted by the completion confirmation page.
Staff of the crypto exchange will then proceed to process your registration and help you open your cryptocurrency exchange account.
You will be notified through email when your account is successfully created.
Or in the case where more information is required or clarification is required, the crypto currency exchange will contact you through your registered email.
How To Do A Selfie Verification For A Crypto Exchange
Doing a selfie for verification isn’t hard but the instruction given is always unclear leading to the user making many mistake which lead to rejection on the application, being request for a replacement of the selfie, or required further clarification by the staff of the the crypto exchange.
When doing a selfie verification it is important to be prepared with all the required documents and equipment required. Things to prepare are:
- Government issued identity card or equivalent.
- Stationary such as a piece of paper with a pen or marker.
- A camera or a handphone camera for taking selfie.
- A tripod for taking selfie or someone to help take selfie.
- A brightly lit environment.
When you do the selfie verification you’ll need to follow the following steps:
- Prepare a blank piece of paper with white background, preferably an A4 size paper.
- Use a marker (pen is acceptable) with black or dark blue ink to write the “Website” or the “Company” where it request the verification to be performed. For example. in the case of Crypto.com, the work “Crypto.com” is written on the paper.
- Writing on the paper should be legible and big enough to be seen clearly on a selfie.
- Use a marker (pen is acceptable) with black or dark blue ink to write the “Date” of when your selfie will be taken, follow the format requested by the crypto exchange. The date should be your current date. For example. Crypto.com request the format to be “DD MMMM YYYY”, thus you should write the date format as “01 January 2023” or “31 Dec 2024”.
- Take your ID and place on top of the paper, not covering any of the information on the paper. Care have to be taken that your fingers that is holding your ID is not covering any of the critical information as well.
- Setup your tripod or ask someone to help you take a selfie with the paper and your ID.
The reasons why crypto-exchanges requires the user to make a selfie verification is to ensure the following:
- To verify that the selfie is provided by the applicant and not from photos that is obtained from online or other means.
- To verify that the selfie is taken for the purpose of the application of the crypto exchange.
- To verify that the picture in the ID is the same person as the person who apply for the account
- To verify that the selfie is taken on the day of application and it is not an reused selfie which was intended for something else.
- To verify that the applicant is aware and have the intention of applying for the account.
Because of all these reasons, a selfie is usually required by most established crypto exchanges. And by following the steps illustrated here, you will probably will have no issue.
Did You Manage To Open An Account?
Opening and registering an crypto exchange account is a really simple process. If you follow through the steps shown in this article, you should have successfully created your crypto exchange account to start buying and selling cryptocurrencies.
But to be successful as a crypto investor or a crypto trader, you’ll need to open your account at the best crypto exchange, where it is in compliance with the regulation required by the country you are in.
And when considering which are the crypto exchange you should start your crypto journey, we’ve reviewed some of the best exchanges which offers a wide range of cryptocurrencies to trade, including Altcoins and crypto wallets.
Check out my article on the best crypto exchange if you are still undecided where you should start.
Or if you are like me, you can start your journey with Crypto.com, and with the link below, you can enter the referral code to get an extra $10 to start your investing journey.
Get $10 sign-up bonus with this link and referral code for crypto.com
- Click the “Create” button below.
- Create an account by entering your name and email.
- Enter referral code “cro10” if it is not auto entered.
- Click create account and claim your signup bonus.
Disclaimer: We do not think the investing of crypto-assets is for everyone, investing/trading of crypto assets is extremely risky, and you can loss everything. This list here is only to share what I find regarding each of the exchanges and an opinion article that is purely for entertainment purpose. It is vital to always invest responsibly in awareness of all risks involved. Markets can be extremely volatile, so you should conduct extensive research before investing. Our site provides updates periodically, but you should form your own opinion and invest only what you can afford to lose. There is never any guarantee of a return on investment. Do check with the relative platforms on the information for accuracy before making any investment decision.
