Trade Bitcoin Trading

Quick Start: Opening a Bitcoin Account in Just 5 Minutes

To open a live Bitcoin account, visit an online Bitcoin broker site and pick open account. Choose your Bitcoin broker and select the account option. Fill out the online forms. This article explains the step-by-step form guide. Fill them right and follow the signup steps below. Get your account open in 5 minutes.

With this online account, you can trade: Forex currencies, BTCUSD Crypto, Silver, Oil, CFDs, Futures, and Index.

Using the identical account setup with the MT4 software permits trading of newly introduced Cryptocurrencies.

With this account type, there is no need for a Bitcoin wallet. Bitcoin can be traded like other online currencies, and BTCUSD (Bitcoin/US Dollar) is available as a cash-based CFD option.

How to Open an Online Bitcoin Account

To open a real Bitcoin trading account, just fill out the online forms from your Bitcoin broker. You can get the sign-up form from your broker's website.

The procedure for establishing a live Bitcoin account necessitates that your broker will also require you to submit the subsequent supporting documentation:

What Papers Do You Need to Open a BTCUSD Trading Account?

1. Proof of ID - Color copy of ID card or passport - Submit a color scan of a valid passport or official ID from authorities. Examples include driver's license or identity card. The document needs your full name, issue or expiry date, birth place and date or tax ID, and your 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 take pictures of these papers with your mobile device and send them right from your device(this is the best way). Or, take pictures with a camera, put the pictures on your computer, and then send these papers to open your account.

To upload supporting documents, locate the 'Upload Documents' option as displayed below. Note that your trading account will not be verified until you complete uploading the necessary documents after signing up.

Be advised that failure to upload the documents specified above will prevent your account from being validated. Make certain you upload these mentioned documents to secure the verification of your account. More than half (over 50%) of all beginner traders fail to establish their Online accounts because they omit uploading the necessary supporting paperwork. If you upload all required accompanying documents correctly, your account status will be verified, and you can commence trading within five minutes. Capture a color photograph of these two documents with your smartphone and upload them directly to your Forex and Bitcoin broker's website through your mobile phone's browser app.

Where to Upload Documents on the Bitcoin Account

Upon completing and submitting the trading account registration forms provided by your broker, you will gain access to the trader's cabinet. This will serve as your Bitcoin trading account.

Why do you need to provide a copy of your ID and a utility bill with your name?

Your Forex and Bitcoin broker requires these documents to prevent any fraudulent money laundering activities. AML regulations - Anti-Money Laundering - mandate that online brokers verify your identification and proof of residency. You must supply official papers bearing your name to confirm your citizenship and country of origin. Additionally, include a copy of a utility bill that visibly displays your present home address. These measures prevent the use of fabricated identities or addresses for illicit financial transfers.

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

Once your forex or bitcoin broker gets your application and documents, they process it. You get a login number and password for your live account.

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

This process is known as KYC, or Know Your Customer. It functions more as a legal mandate than a mere administrative step: your broker is obligated to adhere to this regulation and take necessary measures to ascertain detailed information about their clientele, primarily to prevent involvement in money laundering schemes.

Use your login details to access your MT4 software. Then start trading on this verified account. The same login info works for your trader cabinet on the Forex and Bitcoin broker site. In your client area, you can add funds, take out money, and check reports on your Bitcoin 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.

Explore Further Instructions and Manuals:

Bitcoin Broker