Tips and Tricks for Picking the Right Cryptocurrency… – Coinspeaker

Let’s look at how traders with clean capital pick the right cryptocurrency exchange. Read on and you’ll be a pro at finding places that fit safety demands.

Losing honest capital is more painful than losing grey money. Picking the right cryptocurrency exchange is essential in terms of self-protection against dirty capital. The less you mix your funds with unknown money, the fewer troubles you get.

KYC Check Strictness and How to Prepare Well

Never submit fake documents or the IDs of your relatives to the exchange. Because the exchanges will notice and fight such tricks. You can use both local and international passports to pass the KYC check, as well as a driver’s license.

The exchanges have substantial resources to cover their main capital from dirty coins and illicit fiat money. This includes a team of people who will perform checks of new traders to identify that they are not laundering money for criminals.

For those who want to prove that they won’t do bad things, a couple of simple methods are in use by the cryptocurrency exchanges. For example, the staff may ask you to join a short video interview via Skype or Zoom with the representative asking questions about you. Not every cryptocurrency exchange has the legal right to perform such a check as it depends on the jurisdiction.

However, in most cases, you will have a brief chat with the exchange KYC department in English. If your language is bad, prepare some answers beforehand. Please, be polite: they first look