How To Open an Exchange Account in USA
Estimated Time to Completion:
2 hours
Miss this step?
Do you have a Bitcoin wallet?
Before creating an account at an exchange, you should have a Bitcoin wallet. Bitcoin wallets are free to use and they allow users to store and transfer Bitcoin securely. Our recommended wallet is Exodus.
To Get Started Choose Your Exchange Below
A bitcoin exchange is the easiest way to buy, sell and trade Bitcoin. Not all exchanges are created equal, however, so our team of experts have reviewed the top exchanges based on security, reputation, payment methods and fees. We’ve listed the best exchanges for buying Bitcoin below.
CRYPTOVANTAGE'S RECOMMENDED EXCHANGE
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1
Coinbase
- Beginner friendly exchange
- Fast and easy verification
- Purchasing options: Debit Card & ACH
- Beginner friendly exchange
- Largest exchange in USA
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Create Your Account
The first step is to create an account by providing basic identity information: First name, last name, email account, password and confirming you are over 18 years old.
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Verify Your Email Address
After creating an account, Coinbase will send you an email and require you to confirm your email address.
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Add a Phone Number
You must add a phone number immediately after validating your email address. Providing a phone number is required for a 2-step verification. Coinbase will text a 7 digit verification code to your mobile device.
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Provide Personal Information
You must then provide basic information including payment address and your name. In addition, you’ll need to prove your identity by providing a scan of one of the following: passport, driver’s license or government issued photo identification.
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2
Cash App
- Easy to use for beginners
- Purchase Bitcoin directly in your Cash App
- Can deposit up to $10,000 in a 7-day period
- Available in all 50 states
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Enter Your Email or Phone Number
You can sign up to Cash App via the app or via the website. The first step will be to provide your email address or phone number.
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Enter Verification Code
After completing step 1, you will be sent a code that you will be required to enter on the screen.
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Provide Debit Card / Bank Information
To use Cash App, you will need to add a bank account using your debit card. You will enter your debit card number, expiration date, CVV & ZIP.
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Enter Your Name
Pick a $Cashtag: A $Cashtag is a unique username people can use to send money to you.
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Confirm Your Zip Code / Identity
After confirming your ZIP code, you will be able to use the Cash App. In some cases you’ll also have to provide a government-issued ID to purchase Bitcoin.
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3
eToro
- Safe and secure way to trade a variety of digital assets
- Streamlined UI that’s perfect for beginners
- Operates in numerous countries around the globe
- Relatively low fees
- Sign-up bonus for new users
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Create Your Account
To create a eToro account you will need to provide an email, username, password and country of residence.
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Agree to Terms and Conditions
Before submitting all of your information, take a look at the eToro Terms and Conditions and various policies that you are agreeing to. You must indicate that you’ve read and agree to these terms before signing up for an account.
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Complete KYC process
To open an account on eToro you will need to fill out some KYC (Know Your Customer) information. For this part of the account creation process, you will need to provide a valid bill or document that proves your residence and your passport or some other government-issued identification.
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Finish Setting Up Your Account
Upon being verified, you can now fund your account and purchase Bitcoin or other cryptos.
Buying Bitcoin Summary
- Download a wallet
- Open an account at an exchange
- Purchase Bitcoin at your exchange
- Send Bitcoin to wallet
- Use your Bitcoin