As cryptocurrency gradually enters the public eye, opening a virtual currency account has become the first step for many to enter the blockchain world. However, for beginners, facing complex exchange interfaces, security verification processes, and unfamiliar technical terms can often feel overwhelming. This article will teach you how to open a virtual currency account from scratch in a simple and easy-to-understand way, providing key points to help you safely take your first step into the crypto world.
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How to open a virtual currency account? Process for beginners to open a virtual currency account
- Necessary preparations for opening a virtual currency account
Before officially opening an account, you need to prepare the following basic tools: - Documents required for verification
To unlock more services and limit requirements for the account, all compliant exchanges require real-name authentication (KYC). You need to prepare:
A valid ID/passport/driving license with more than three months of validity.
A photo of yourself holding the document (some platforms require this).
Domestic users are advised to use their ID cards, while overseas users should pay attention to the types of documents supported by the platform. - Common phone number and email
It is recommended to register with a long-term phone number and bind an independent email (such as Gmail, Outlook, QQ Mail, NetEase 163 Mail, etc.). Avoid using corporate emails or temporary emails that may expire. - Security tool configuration
You can download dynamic verification tools like Google Authenticator in advance for subsequent two-step verification (2FA) setup. - Choose a suitable virtual currency exchange
Currently, there are over 300 mainstream cryptocurrency exchanges worldwide. Beginners are advised to prioritize the following three types of platforms:
Platform Type
Representative Exchanges
Suitable Audience
International Leading Exchanges Binance, Coinbase Multi-currency trading, global users
Localized Exchanges OKX, ZB.com Chinese interface, local payment method support
Decentralized Exchanges (DEX) Uniswap, PancakeSwap No KYC required, direct wallet trading
Selection Criteria:
Security: Check if it has passed CertiK audits and supports cold wallet storage.
Liquidity: You can use dual C platforms to check the trading volume in the last 24 hours. The higher the trading volume, the more liquid the token on that platform, and the price slippage during trading will not be too large.
Transaction Fees: Spot trading fees generally range from 0.1% to 0.2%.
Fiat Channels: Platforms that support bank cards, Alipay/WeChat deposits are more convenient.
Customer Support: Should have 24-hour human/online customer service and support multiple languages. - Detailed account opening process for virtual currency accounts (taking Binance as an example)
Step 1: Register an account
Open a browser on your phone or computer, enter relevant keywords to search, and visit the Binance official website.
Click "Register" in the upper right corner and select "Personal Account." If it is an institution, you can choose "Corporate Account" to register.
As mentioned above, enter your commonly used email/phone number, set a strong login password (recommended 12 characters including uppercase, lowercase, and symbols), and click "Next" to successfully register your Binance account.
Binance account email registration
Get verification code
Set login password for Binance account
Step 2: Complete KYC verification
In the account center, go to the "Basic Identity Verification" page, select the type of document, upload clear photos of the front and back of your ID (without reflections), and wait for the review to be completed (usually 30 minutes to 2 hours).
As a new user, you can first complete the basic identity verification. Binance's basic verification is very simple; you only need to upload documents and wait for approval. If you want to increase your account limits later, you can then open advanced identity verification.
Binance account KYC verification
Step 3: Strengthen account security
In the account security settings, enable the authenticator app (two-step verification 2FA), and the passkey (biometric) requires device support for fingerprint recognition, and enable the anti-phishing code function to verify whether the email you received is genuinely from the official source.
Strengthen Binance account security
Step 4: C2C bind payment method
Binding a payment method refers to trading local currency (such as RMB, HKD, etc.) to purchase fiat currency (USDT).
On the Binance homepage, enter C2C, click the settings in the upper right corner to open the C2C menu, select the payment method, and click "Add Payment Method" to follow the prompts to add.
Binance currently supports binding payment methods such as WeChat, Alipay, bank cards, and QQ for domestic regions. Whether you need to buy or sell, you need to add it beforehand.
C2C bind payment method - Understand the basic knowledge of virtual currency accounts
Virtual currency and blockchain: Virtual currency is a digital asset issued and circulated based on blockchain technology. The blockchain is a decentralized distributed ledger that ensures the security, transparency, and immutability of transactions.
Virtual currency exchanges: Virtual currency exchanges are platforms for buying and selling virtual currencies (centralized exchanges, commonly referred to as secondary exchanges), where users can recharge, trade, and withdraw virtual currencies. Common exchanges include Binance, OKX, Gate.io, etc.
Account types: Virtual currency accounts are usually divided into spot accounts, contract accounts, leverage accounts, etc. Beginners generally start with spot accounts and consider other types after becoming familiar with the trading process. - FAQ about opening a virtual currency account
Is there a fee to open a virtual currency account?
Most exchanges offer free account registration and opening, but trading, withdrawal, and other operations will incur fees.
Can one ID be used to open multiple exchange accounts?
Generally, yes, but the same platform usually does not allow duplicate registrations. Different platforms have their own rules.
What happens if a virtual currency account is not used for a long time after opening?
It may be considered a dormant account, and after a long period of inactivity, there may be a 24-hour withdrawal limit protection. It is recommended to log in regularly to check.
Can a virtual currency account be frozen?
It is possible. If the platform's risk control is triggered or suspicious activities are involved, the account may be temporarily restricted. Compliant operations can reduce risks.
What should I do if identity verification fails?
Check if the document is within the validity period and ensure that the background of the front and back of the document is the same. - Summary of the detailed process for beginners to open a virtual currency account
Choose an exchange: Select a suitable exchange based on personal needs (such as supported virtual currency types and quantities, trading fees, user interface, etc.).
Register an account: Fill in the necessary personal information on the exchange's official website and complete the registration process.
Identity verification: Complete KYC verification as required by the exchange, usually including uploading ID documents and facial recognition.
Security settings: Enable two-factor authentication, anti-phishing codes, etc., to enhance account security.
Familiarize yourself with the trading interface: After logging into your account, familiarize yourself with the trading market interface and functions, such as limit orders, market orders, and other order types.
Simulated trading: Some exchanges offer simulated trading functions, allowing beginners to practice risk-free and become familiar with the trading process.
Understand the market: After opening an account, beginners should learn the basic knowledge of the virtual currency market through official websites, social media, or professional forums, including the characteristics of different virtual currencies and trading rules.
Opening a virtual currency account is just the first step into the crypto market. Continuous learning about wallet management, technical analysis, and other advanced knowledge is necessary. It is recommended that beginners start with a small amount of funds to practice and gradually become familiar with trading rules. Remember: safety awareness and risk control are always more important than pursuing profits.
Through the above process, beginners can safely and efficiently open a virtual currency account and start trading cryptocurrencies. Remember, safety and compliance are fundamental, strategy and skills are advanced, and continuous learning is the guarantee for long-term growth. I hope this article can provide practical guidance for beginners.