People rave about digital currencies being the ultimate investment option that can help investors reap the most financial benefits. The significant potential for appreciation and the room for crypto growth is undoubtedly what attracts many new investors to tap into the crypto market. Even so, there is much more to encrypted currency in Hong Kong that investors must know before trying their hands in crypto trading- Art Of Cryptocurrency .
If you are a Hong Kong resident considering investing in the crypto market, this post will discuss the essentials every first-time investor should know about investing in cryptocurrencies. As you read along, keep in mind that MoneySmart helps you compare and choose the best crypto exchange in Hong Kong.
Steps to getting started the crypto exchange in Hong Kong- Art Of Cryptocurrency
Cryptocurrency is becoming increasingly popular in Hong Kong. For those looking to invest in encrypted currency in Hong Kong, here are steps to getting started.
- Choose crypto exchange- Art Of Cryptocurrency
The first step towards investing in the crypto market is choosing a crypto exchange platform with which you will create an account. Thankfully, MoneySmart helps you compare and choose the best crypto exchange in Hong Kong.
Once you have found a suitable crypto exchange platform, download the crypto exchange’s app or visit its website to create an account.
- Create an account
Since the beginning of the internet era, the procedure for creating a crypto exchange account has become almost similar to opening other financial accounts. To open an account, you need to provide personal details such as your full name, email address, phone number, residential address, and date of birth.
- Verify your account
After creating your account, you will be required to verify your phone number, email address, and identity. When it comes to verifying your phone number and email address, your chosen crypto exchange platform will send one time pin or a personalized link so that you can confirm to be the owner of the number and email address you provided.
- Upload necessary document identity
As for identity verification, most crypto exchange platforms will ask you to upload your proof of identity, address proof, and financial account proof. Precisely, you will be required to upload a scanned copy of your ID or passport and bank statement, so make sure to have them scanned before starting the steps to create your account.
- Get a crypto wallet
You can’t invest in crypto space without a wallet.
A crypto wallet is a digital wallet that holds your crypto safely and allows you to manage and retrieve encrypted currency. While most exchanges provide wallets for their consumers, not all platforms will provide one.
If your exchange provides wallets, you can skip this step.
- Fund your crypto wallet
The easiest way ever to fund a crypto wallet is by connecting it with a bank account. When you connect your wallet to a bank account or credit/debit card, you will have an easy time transferring money to and from a crypto exchange. When investing in encrypted currency in Hong Kong, you have the option to fund your account through credit card, wire transfer, ATM transfer, eBanking transfer, FPS, or cash deposit.
The crypto exchange market is one of the most lucrative marketplaces Hong Kong residents can invest in. For those considering investing in encrypted currency in Hong Kong, it may be worth noting that different cryptocurrency exchanges have varying processing fees and commissions, exchange rates, security for trading, crypto availability, reliability, and overall reputation.
MoneySmart helps newbie investors find the best crypto exchange in Hong Kong, ensuring they invest their money in reliable exchanges. Even better, you can get welcome gifts worth up to HK$390 if you successfully open your account and deposit via MoneySmart using their referral codes.
Overall, MoneySmart helps you get started with cryptocurrency while ensuring you find the best cryptocurrency trading platform. With the crypto exchange platforms on the MoneySmart website, you can be sure to get great and easy 24/7 crypto trading service and reliable customer service should your experience issues while trading.
While trading cryptocurrency is not the hardest thing you can do, you will almost certainly need assistance when starting out. MoneySmart has got you covered when it comes to getting a dependable exchange platform, and, hopefully, this post will help you get started and grow your portfolio.