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If you follow the step-by-step guidelines below, you will be able to invest with a cryptocurrency broker within minutes.

Step 1: Choose a cryptocurrency broker.

Your first port of call is to choose a cryptocurrency broker that best suits your needs. You need to consider key factors, such as whether you want to buy cryptocurrencies or invest in CFDs, as well as fees, payment methods, customer support, and spreads.

We recommend reading the following section on how to choose a cryptocurrency broker if you need further help. If you don't have time to search for a cryptocurrency broker yourself, you should consider the merits of one of the pre-screened platforms listed on this page.

Step 2: Open an account

Regardless of whether you use a traditional broker or a CFD platform, you will need to open an account. The amount of information you collect will depend on the type of cryptocurrency broker you choose.

However, if you want to deposit money with real money, this will probably include the following:

  •     First and last name
  •     Home address
  •     Nationality
  •     Date of birth
  •     Contact

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Step 3: Verify your identity

You must now verify your identity. This is to ensure that the broker complies with its licensors as well as national anti-money laundering laws. For this process, you will need to upload a clear copy of your government issued ID (passport or driver's license) and proof of address. This should be a bank statement or utility bill dated within the last three months.

Step 4: Deposits

Once you have verified your account from the cryptocurrency broker - trader app, you will need to deposit some money. The specific payment method available to you will depend on the broker, although this usually involves a debit / credit card or wire transfer.

Some brokers also support e-wallets such as Paypal and Skrill. Unless you use a wire transfer, all other deposit methods are readily available.

Step 5: Invest in your chosen cryptocurrency.

You can now make a cryptocurrency investment. You will first need to select the specific cryptocurrency you wish to purchase (Bitcoin, Ethereum, etc.) and then enter the amount you wish to invest.

It is not necessary to buy an entire bitcoin, so you can buy as little as you want - as long as you meet the broker's minimum investment amount. The money is then deducted from your cash balance and the cryptocurrencies are added to your account.

Note: The investment process with a CFD cryptocurrency broker remains much the same, although you don't have to complete the following step when withdrawing your coins. This is because the coins are not present, as you are merely speculating on the future price of the asset.

Step 6: Withdraw coins from the cryptocurrency broker.

You now need to withdraw your newly purchased cryptocurrency coins from the broker. Although most platforms allow you to store your coins on the broker's website, we strongly advise against it. If the broker has been hacked by a malicious third party, there is a risk that your coins will be stolen.

Therefore, you should withdraw your coins to a private cryptocurrency wallet. To do so, go to your wallet and copy your wallet address. Decide to withdraw from the broker by inserting your wallet address and entering the amount you want to withdraw. The coins should arrive in your wallet within 1 hour - depending on how long the broker takes to process them.