Step Two: Getting Set Up

Setting up an account is a lot like opening a bank account. Sign up and prove you’re real, usually by uploading ID and taking a selfie – that’s the exchange following the Anti-Money Laundering (AML) rules. 

Once you’re in, have a look around. Check your settings for security, preferences and notifications. Turn on two-factor authentication (2FA) – you’re probably already using it for everything from your bank account to your Netflix account. That's the extra code you get on your phone when logging in.

The next step is to buy crypto or deposit cash into your account. Options include ACH bank transfer, debit cards, PayPal – or wire transfers for larger amounts. It’s worth noting that each has its own fees and transfer times.

Don’t forget to check the exchange’s trading fee – usually a small fixed amount or a percentage of each transaction.