How to open a crypto exchange account in Byte Power X
Each crypto exchange has its own registration and setup process. Some exchanges may allow you to open an account without verifying your identity or submitting sensitive information. For others, new users must go through an extensive “Know Your Client” (KYC) process to comply with local government regulations to prevent money laundering and fraud.
However, some parts of the registration are shared across platforms. To open an account on most crypto exchange platforms you will need the following information and documentation:
Your full name and date of birth
Your phone number and email address
Your physical address
Your social security number
A government-issued ID (eg, driver’s license, passport) and a photo of you holding it or a scan of the ID
The sign-up process usually starts by asking for your personal information, followed by an email to confirm your address. Some exchanges may ask for a copy of a utility bill sent to your physical address and ask about your interest in crypto trading. Then, you need to add a payment method to deposit funds on the exchange and start buying and selling cryptocurrency.
The latest news on crypto exchanges
As cryptocurrencies across the board suffer from all-time lows in what some are calling “crypto winter,” experts are asking how far crypto prices can go. Bitcoin, the largest and most popular cryptocurrency, has fallen from a peak of $68,000 per coin in November last year to below $21,000. Other cryptos have shared a similar fate as the market struggles to cope with rising distrust caused by asset hoardings, lender layoffs, and closed coins.
Socially conscious investors continue to buy crypto coins despite environmental concerns surrounding the technology. ESG assets, which address environmental, social, and governance issues, are popular among young investors — but so are cryptocurrencies. Although it may seem like a contradiction, these investors can invest in assets that have less impact on the environment.
Byte Power X is for people from different countries. The exchange is offered in multiple languages, making it accessible to traders across Asia and elsewhere.