How to Open Bitcoin Account in 5 Minute - Step-by-Step Procedure

To Open a Live Bitcoin Account you as a trader can go to an online Bitcoin broker website and OPEN AN ACCOUNT. Once you go to the Bitcoin broker of your choice and select this option of opening an account, you'll then have to fill some online forms - the step by step guide of filling these forms is explained in this article. If you fill the forms correctly and follow the account signing up procedure explained below you as a trader can have your account opened within 5 minutes.

With this online account you as a trader can transact the following: Forex currencies, BTCUSD Crypto, Silver, Oil, CFDs, Futures and Index.

With this same account using the MT4 software you as a trader can trade newly added CryptoCurrencies:

With this account there is no need for a Bitcoin wallet - Bitcoin is a Crypto that can be traded in the same way as other online currencies - BTCUSD (Bitcoin / US Dollar) can now be traded as a cash CFD.

How to Open an Online Bitcoin Account

To sign up this real trading Bitcoin account, a trader has to fill some online forms provided by a Bitcoin broker. The account signing up online form can be obtained from your online broker.

Process of opening a real Bitcoin account is one that your broker also will need you to upload following accompanying docs:

What Documents Are Required To Open An BTCUSD CryptoCurrency Trade Account?

1. Proof of ID - Color copy of Identity card or Passport - A color copy of valid passport or other official ID document that's issued by authorities (example. Driver's license, identity card, etc). The ID document must contain the online trader's full names, an issue or an expiry date, client's place & date of birth or tax identification No. And client's signature.

2. Proof of Residence - Coloured copy of utility bill copy - Recent dated bill (e.g. Electricity, gas, water, phone, oil, Internet and/or pay TV connection, bank account statement) dated within the last 6 months & confirming your registered address location (physical residential address not post office address).

You can use your mobile phone to take snapshots of these documents and upload them direct from your phone(this is the best option). Alternatively, use a digital camera, upload the pictures to your computer and then upload these supporting documents on to your account

To Find where to upload these supporting documents look for the option 'Upload Documents' - this option is shown below. Please note after registering your trading account it won't get verified til you have completed uploading these accompanying documents.

Please note if you don't upload above needed documents your account won't be validated - Make sure you upload above documents to get your account verified. More than 50 % of all beginner traders do not succeed in opening their Online account because they fail to upload the required accompanying documents. If you correctly upload all the required supporting documents then your account will be verified and you as a trader can begin trading with your account within five minutes. Take color photo of these 2 documents with your smartphone & upload these docs directly to your Forex and Bitcoin broker website using your mobile phone browser app.

Where to Upload Documents on the Bitcoin Account

Once you've filled out and Submitted trading account signing up forms that your broker will have provided you as a btc usd trader with, you'll get access to the following trader cabinet: This will now be your Bitcoin account.

Why is a Copy of My ID & Utility Bill that Has My Name Required?

The documents are needed by your Forex and Bitcoin broker to safeguard against any money laundering activity. AML, or Anti-Money Laundering Regulations necessitate that all online brokers ask proof of ID & Residence with your name so that to verify that you're a resident citizen of the country you claim you are from as well as a Copy of Utility Bill that shows your exact location where you reside, that way you can not come up with some fake identity or fake residency location to use for money laundry.

All regulated Forex and Bitcoin brokers must adhere with this requirement before registering a trading account for a new client.

Once your online Forex and Bitcoin broker gets these online trading account opening application forms in addition to the above documents, your application will be processed & you'll be assigned a log in account number & a password for live Bitcoin account.

Once your up-loaded documents are validated by your broker - your account then will get verified. Your login details will be sent to your Mail address. An example of a verified account is shown and displayed below:

This is K.Y.C. - Know Your Client, it is more of a legal requirement than just a mere formality, your broker must comply with this policy and try to do everything so as to learn details of who their client is, so as to guard against any money laundry activities.

You then can use your details to sign in to your MT4 software & begin trading on this verified account. You also can use the same log in authorization sign in credentials to sign in to your trader cabinet on the Forex and Bitcoin broker website. On the my client area cabin you as a trader can deposit funds, withdraw money and view reports of your Bitcoin broker trading account.

Trader Cabinet

The Bitcoin account trader cabinet is a client area where once a trader opens a live account, then they can login to this trader cabinet and do the following operations; deposit money, withdraw money, generate trade reports, upload documents and get to view the balance of their trading transactions as shown below.

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