Don’t know where to start with cryptocurrency lending? In this post we outline all the key terms and concepts you need to know.
The SelfKey Exchanges Marketplace
Learn more about the most recent addition to the SelfKey Marketplace – the Exchanges Marketplace! In this article we walk you through our newest addition.
You may have noticed a new addition to the SelfKey Wallet – the Exchanges Marketplace! We’re delighted to bring you a comprehensive crypto exchange marketplace where you can compare different exchange accounts and sign up instantly.
In this article, we walk you through our newest Marketplace and all of the great exchanges that are listed. Here’s how to get started.
Disclosure: Some of the links in this article are affiliate links; we may receive a commission for purchases made through these links at no cost to you.
How to open a crypto exchange account
We specifically designed this process to be as easy for you, the user, as possible. Our aim is to provide clarity and transparency throughout the entire user experience, and you’ll see how that is reflected in our process.
Step 1: Download the Wallet
The SelfKey Identity Wallet is free, open-source and designed to keep your tokens safe. That being said, it offers a lot more than a simple cryptocurrency wallet. Instead it allows you to manage your identification documents and provides access to the Self!Key Marketplace where you can open bank accounts, incorporate your business abroad, and more.
Head over to this page and download the wallet on Windows, Linux or Mac OSX. You can also download the SelfKey Wallet on your smartphone by visiting the above page. Whether you’re on your computer or your phone, the wallet is free and light-weight, meaning you’ll thoroughly enjoy using it. Of course, you own your private keys and can even access the Wallet using Ledger and Trezor.
Step 2: Set up your Wallet
Setting up your wallet couldn’t be easier, but it’s a very important step. As a result, it’s vital to make sure you do it correctly. The first thing you need to do is securely store your public and private keys. As a non-custodial Wallet, SelfKey cannot recover your private key, so make sure you don’t lose it.
Step 3: Complete your SelfKey ID (optional)
Once the Wallet is downloaded and your keys are securely stored, the next step is to set up your SelfKey ID. This is a collection of locally stored Know Your Customer (KYC) information used to quickly access new service providers. Thanks to the SelfKey ID, you can reuse the same KYC data multiple times. So instead of having to go through many different sign-up processes within the Marketplace, you simply complete your SelfKey ID once and then use it whenever you need it.
This feature will be coming soon to our Exchanges Marketplace. Once it is in effect, if you want to join multiple crypto exchanges, you simply complete your SelfKey ID once and then use it for all registrations.
Step 4: Find your preferred exchange
Now that your SelfKey ID is set up, it’s time to head to the SelfKey Marketplace and check out the different crypto exchanges on offer. When logged into the Wallet, click on the Menu in the top right of your screen and select “Marketplace”.
Six different Marketplaces should now appear, with one clearly being for exchanges. Click on the button to see a screen similar to this one:
To learn more about each, make sure to click on “Details” and peruse the individual listing pages. We’ve endeavoured to give you all the relevant information, but please make sure to do your own research as well.
Here you can see an example for one of our exchanges, Bitpanda:
As you will be able to see, information such as exchange location, fees, if KYC is required, excluded residents, if fiat currencies are accepted, and more, are all clearly laid out. This way it’s easy to see which exchanges meet any criteria you have, and which exchanges you are eligible to join.
Step 5: Sign up
Once you’ve decided which exchange you’d like to join, simply click on the “Sign Up” button on the top right. From there, you’ll be directed to the exchange’s website where you’ll need to register for a new account and follow the instructions they provide. You may need to confirm your identity for KYC purposes, so make sure to have a piece of government-issued ID on hand.
And that’s it, you’re all signed up for your new crypto account!
The SelfKey Identity Wallet is a free identity solution for Windows, Linux and Mac. Get yours today!
Featured crypto exchanges
We have over twenty different crypto exchanges listed in our Exchanges Marketplace. While we recommend that you take a look at all of the ones we have on offer, here are some of our featured crypto exchanges:
After a successful launch in 2018, Hotbit has been steadily growing. The crypto exchange offers one of the largest markets for trading, with over 500 different trading pairs available. Hotbit boasts over 500,000 active users from over 170 different countries. Hotbit is registered in both Estonia and Hong Kong. Fees are lower than average for both takers and makers at 0.1%
WhiteBIT is a centralized crypto exchange based in Estonia that offers not only crypto-to-crypto transactions, but also crypto-to-fiat. Having both European Exchange and Custody licenses, the exchange meets all AML and KYC requirements. Fiat currency in USD, EUR, RUB, and UAH are supported. Fees for makers and takers are relatively low at 0.1%
Operating out of Estonia and licensed by the relevant authorities in the EU, p2pb2b is an advanced cryptocurrency exchange that is all about its users. The exchange offers 24/7 support in eight different languages, and has an optimized user interface to make your experience more pleasant. The exchange has a strong focus on security: over 95% of user assets are stored in cold wallets, making them far less vulnerable to hacks.
Based in South Korea, ProBit offers enhanced security and a cutting edge trading engine. The exchange only lists what it deems to be qualified and deserving cryptocurrency projects, and reportedly has an order matching speed of over 1.5 million orders per second. ProBit offers a totally customizable dashboard, which makes it easy to use for beginners and perfect for professional traders too.
While ExMarkets is smaller than some of the other exchanges, it offers a great experience to its users. Powered by a proprietary, state-of-the-art trading engine, users can set up an account in minutes and begin buying and selling crypto and some fiat currencies. Users can also access the token sales of promising blockchain and crypto projects through ExMarket’s IEO LaunchPad.
SimpleSwap is an instant cryptocurrency exchange that allows customers to swap crypto in an easy way. The platform is free from sign-up and supports more than 300 cryptocurrencies. SimpleSwap provides two exchange types: floating and fixed rate. SimpleSwap has made the cryptocurrency exchange process simple, safe and comfortable
Based in Austria, Bitpanda is a fintech platform that offers a number of services including the Bitpanda Global Exchange. The Bitpanda Global Exchange already has over one million users and offers state-of-the-art performance with a strong focus on security to ensure that your crypto stays safe. The exchange offers a wide range of payment and payout providers for added flexibility. Bitpanda’s advanced trading platform and digital asset exchange is perfect for experienced traders, professionals and institutions.
Based in the United Kingdom, Tokens.net is a cryptocurrency exchange operating in a stable and reliable business environment managed by industry pioneers with proven track records. The Tokens.net platform represents a distinctive trading engine with a user-friendly interface, assuring 100% trading volume transparency and fast execution. The primary function of the exchange’s native DTR tokens is providing real-time information on the number of transactions and transparent trading volume.
Headquartered in Singapore, Zipmex currently operates in Indonesia and Australia and recently launched operations in Thailand. The crypto exchange focuses on fast trades, low buying prices, speed, and high liquidity. The exchange has been engineered to deal with high trading volumes, resulting in low prices for users.
Launched in 2019 with offices in Brisbane and Sydney, Mine Digital is a digital asset exchange and brokerage firm. The brokerage side of Mine Digital provides tailored advice and access to investment opportunities thanks to its highly experienced team. The Mine Digital exchange allows users to trade crypto and fiat currency pairings on a state-of-the-art platform, with low fixed fees and insured custody for added security.
Conclusion – The SelfKey Cryptocurrency Exchange Marketplace
As you can see, signing up for a crypto exchange account through our Exchange Marketplace is a simple and straightforward process. We encourage you to experience the marketplace for yourself and check out the many exchanges we have on offer. We’re certain that we’ve got an exchange that meets all your criteria!
As always, we advise you to do your own research about any crypto exchange that you’d like to sign up with. We’ll continue to add more crypto exchanges over time, so keep an eye out for new announcements regarding the Exchanges Marketplace.