Hello Folks !!
Let's understand how we can create an account on any exchange available today. The exchanges are much different from those which are used to trade in the stock market for BSE, NSE or any other Indian exchanges. So you won't be able to use something like your Demat account with banks or Zerodha, Grow, Sharekhan to trade. The options which you have here for crypto are like Binance, Bit BNS, CoinDCX, WaZirX, CoinSwitch etc.
While the names and offerings are different, they have one common goal: to allow their users ease of trading. They make the display interface or UI as simple as possible for the user to seamlessly trade on. Before we get into trading let's understand how we can set-up the account. Similar to the counterpart stock market applications, here too you need to update the KYC details before trading. PAN Card is a mandatory document required by all applications. This is the first level of verification and once the document is uploaded, they will ask for another Govt. documents such as Aadhar card, Passport or Driving License(Driving License is accepted by very few applications). Now comes the selfie time where you have to click your picture and submit. You should ensure that the pictures uploaded are not blurred. Once you have completed the process and submitted the documents, the KYC process is started by the application. They usually take 15 minutes to 72 Hours to update the KYC status. Currently due to a surge in volumes of KYC requests the same is usually completed within 48 Hours.
It is important to note that you will be able to add money into your wallet only when your KYC is completed.
So why wait? Start your Crypto Journey today!!
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