How to open an Account on a Cryptocurrency Exchange in India - Step by Step Guide
Jul 29, 2020 23:21
Interested to invest in digital currencies but don’t know how to start? Well, worry, not. There is no rocket science. Getting started to trade on cryptocurrencies is much easier than you think. The only thing you need to pay attention to is choosing the right trading platform. Before you even think of investing in crypto assets, it is essential that you choose a trusted exchange. Reliable services, affordable trade fee, intuitive interface are some of the prerequisites of a good crypto exchange platform.
To further know how to open an account and trade on a crypto exchange platform, let’s read below.
Step 1 – Gather the required documents:
The very first thing you need to do is to collect all documents. To open a trading account, you are required to complete a verification process, which is a prerequisite for all exchanges. However, the documents required are likely to vary from one exchange to another, so make sure to do your homework. Given below is the list of primary documents that are a must for opening a trading account on an exchange in India.
1. Aadhaar Card for identity proof.
2. PAN Card
3. Bank Account statement/Passbook
4. A scanned photograph of the applicant
Step 2 – Choose the exchange to open an account:
There are several exchanges that allow you to buy bitcoin in India. Apart from this, there are a lot of exchanges that can offer you a variety of cryptocurrencies to trade. Thus, when choosing crypto, exchanges consider your preferences. The trade fee charged and digital assets supported all play an essential role in narrowing down your selection of a specific exchange platform.
Some of the trusted crypto exchange platforms are:
Step 3 – Open an account:
Opening an account on a crypto exchange involves few easy steps.
●Visit your chosen exchange’s official website.
●Signup with a new account.
●Create an account and furnish the required details, including your name, email address, city, password, and age.
●Verify email with a verification link sent to your email address. Likewise, there will be verification for mobile number.
Step 4 – Complete the KYC:
Next, complete the KYC process with the documents you have already gathered. Although the process is as easy as filling an online form for more information, you can watch the official videos of the exchange app/website.
Step 5 – Deposit INR to Trade:
Once the KYC is completed, and bank account details are verified, you can start trading. Whether you want to buy ethereum in India or any other cryptocurrency like bitcoin, ripple, or bitcoin cash, you need to deposit INR in your exchange account.
Step 6 – Now buy what you want:
Since you have deposited INR in your account, you can now sell and buy crypto assets as per your preference.
That’s all; following these simple steps, you can easily create an account on a crypto exchange platform.
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