How to open a crypto trading account: Beginners' guide

What is a crypto account?

A crypto account – whether with an exchange or a wallet provider – allows individuals, companies or governments to store, manage and trade cryptocurrencies including Bitcoin, Ethereum and stablecoins. It serves as a gateway to the blockchain ecosystem, allowing clients to buy, sell, transfer and interact with digital assets across decentralised platforms and centralised services.

There are two main types of crypto accounts: 

1. Custodial account - managed by a third party like a crypto exchange or wallet provider, that holds the crypto’s private keys on behalf of the user. This is similar to a traditional bank account, where the institution safeguards your fiat currency. Clients benefit from the ease of use, customer support and added recovery options, but they give up full control over their assets.
2. Non-custodial account – this account type gives users complete ownership of their crypto by allowing them to manage their private keys directly, as they’re accessed through decentralised wallets like MetaMask or hardware wallets like Ledger. While they offer greater control and privacy, users are responsible for safeguarding their keys and losing them usually means losing access to funds permanently.

Crypto exchanges play a key role in managing custodial accounts as they provide a user-friendly interface for onboarding, depositing funds, trading and withdrawals. Many major exchanges also integrate features such as lending and fiat on-ramps. We aim to offer a comprehensive service, including prepaid Visa cards and our own NFT marketplace.

Given the irreversible nature of blockchain transactions, platform integrity and user verification are both crucial. Strong password protection, two-factor authentication (2FA) and biometric logins should be standard security features with any exchange. 

In most custodial settings, exchanges will store assets in cold wallets and use multi-signature protocols to prevent hacks. Additionally, regulated platforms like us must comply with the Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements to verify user identities and prevent fraud.

Commonly, crypto investors will retain their long-term holdings in a non-custodial account while also maintaining a non-custodial account for ease of use. However, the split will depend on your individual preferences for control, security and convenience.

Sign up on Crypto.com to start your crypto journey.

How to open a crypto account in 5 steps

Opening a crypto account is the first step to accessing the world of digital assets, whether you're interested in trading, investing or simply exploring blockchain technology. 

1. Choose a reputable crypto exchange

The first step is selecting a trusted crypto exchange, i.e., the platform that enables you to buy, sell and manage your cryptocurrency investments.

Key factors to consider include:

• Platform integrity – look for platforms with strong integrity measures including cold storage, multi-signature wallets and insurance protection. This is possibly the most important consideration.
• Fees – compare trading, deposit and withdrawal fees. Some exchanges also charge spreads on trades. Platforms that are open with their fee structure tend to offer better customer service support as well.
• Supported assets – ensure the exchange supports the cryptocurrencies you’re interested in, such as Bitcoin, Ethereum or stablecoins.

Crypto.com is a reliable and globally recognised platform offering a wide range of digital assets and a user-friendly interface. 

2. Register and verify your identity

Once you’ve chosen an exchange, you’ll need to create an account by signing up with your email address and a secure password.

To comply with regulations, most exchanges, including Crypto.com, require users to complete the Know Your Customer (KYC) verification process:

What you’ll need:

1. Government-issued ID – commonly a passport or driver’s licence.
2. Proof of address, i.e., a utility bill or bank statement.
3. Selfie or live photo – most platforms require facial recognition for added security.

This process typically takes a few minutes to a few hours, depending on the exchange and your region. 

3. Protect your account

Protecting your account is crucial when dealing with any asset, and digital assets are no different. After registering, it’s important to take steps to protect your account from unauthorised access.

Best practices include:

• Using a strong, unique password – avoid using the same password across different accounts.
• Enabling Two-Factor Authentication (2FA)– this adds an extra layer of protection by requiring a code from your phone in addition to your password.
• Being aware of phishing attempts – always access the exchange through its official website or app.

For added protection, some users choose to move their crypto to a non-custodial wallet after purchasing, especially for long-term storage.

4. Fund your account

Before trading, you’ll need to add funds to your crypto account. Most exchanges support several funding options, including :

• Bank transfer – typically has lower fees but may take 1 to 3 business days.
• Credit/debit card – fast and convenient, though often carries higher fees.

Crypto.com supports many major funding methods, making it easy for users worldwide to get started quickly.

5. Start trading

With your account funded, you’re ready to start trading or investing in cryptocurrency:

1. Browse available assets – use the exchange’s dashboard to view market prices, trends and asset information.
2. Place a trade – choose whether to buy or sell a cryptocurrency. You can place market orders (executed instantly but can be more expensive) or limit orders (executed at a set price but not guaranteed to go through).
3. Monitor your investments – track your portfolio performance, set price alerts and stay updated with market news.

Crypto.com provides helpful tools like real-time charts, recurring buys and an intuitive mobile app to help you manage your crypto on the go. You might also want to get to grips with risk management tools like stop losses.

Why open a crypto account on Crypto.com?

As the cryptocurrency market continues to grow, choosing the right platform remains key to a smooth and protected experience. Over the past few years, we’ve emerged as one of the largest exchanges in the world, trusted by millions of users. 

Whether you’re just starting out or already familiar with crypto, opening an account on Crypto.com offers a powerful combination of accessibility, features and platform integrity.

Access to 400+ cryptocurrencies

Crypto.com provides access to a diverse range of over 400 cryptocurrencies, including major assets like Bitcoin, Ethereum and Solana, as well as trending altcoins and stablecoins. This broad selection allows users to build a well-diversified portfolio, in addition to exploring emerging tokens in DeFi, NFTs, metaverse projects and more. 

Discover a platform offering 400+ cryptocurrencies and user-friendly trading tools.

Beginner-friendly interface

One of our standout features is our user-friendly mobile App and desktop interface, designed to make crypto trading easy for beginners. The app offers a clean layout, simple navigation and helpful tutorials to get you started. 

From buying your first crypto to tracking portfolio performance or setting up recurring purchases, every feature is built with ease of use in mind. Even complex tasks like setting limit or stop loss orders are made intuitive, and we’re consistently improving our offering in response to community feedback.

Competitive fees and transparent pricing

Crypto.com offers competitive trading fees with no hidden charges. The pricing structure is transparent and clearly displayed before you confirm a trade, helping you to make informed decisions. 

Users can also benefit from reduced fees by holding and staking our native token, CRO, and we regularly offer promotions for new users. 

Robust platform integrity and 24/7 support

Platform integrity is a top priority for Crypto.com. Our platform uses industry-leading protections, including:

• Cold storage for the majority of user funds.
• Multi-factor authentication (MFA).
• Withdrawal whitelisting.
• Real-time monitoring and anti-phishing measures.

Crypto.com is also one of the few exchanges to receive certifications including ISO/IEC 27001 and SOC 2 compliance. In addition, our 24/7 customer support ensures that users can get help quickly whenever needed.

Extra perks: Crypto.com Visa Card and more

Beyond trading, we offer a range of services that allows users to have all their crypto needs met on one platform:

• The Crypto.com Prepaid Visa Card lets you spend crypto in real life while earning up to 5% back in CRO rewards.
• Built-in advanced features including crypto earn and DeFi wallet integration enable you to earn interest and participate in Web3.

What to consider before opening a crypto account

Before opening a crypto account, it’s important to analyse the key factors that can impact your overall experience and long-term success in the world of digital assets. In an ideal world, you want to pick a platform that is accessible for beginners but has the depth to grow with you as you learn more about crypto investing.

1. Regulatory compliance and licensing

Always check that the platform is licensed and compliant with financial regulations in your country or region. Regulatory compliance means that the exchange operates under strict guidelines for security, transparency and consumer protection. Licensed platforms are also more likely to follow KYC and AML rules, which help to prevent fraud.

Learn about our robust security measures and how we protect your assets.

2. Range of supported cryptocurrencies

The variety of digital assets offered can significantly influence your trading and investment opportunities. While most platforms support major cryptocurrencies like Bitcoin and Ethereum, access to a wider selection, including altcoins, stablecoins and tokens from DeFi or NFT ecosystems, allows for greater diversification, access to emerging trends and potentially larger profits.

As a beginner, you may only want access to the most traded coins, but this often changes as you get more comfortable.

3. Fee structures and trading costs

Understanding the platform’s fee structure is crucial to managing costs. Look out for:

• Trading fees (maker-taker model).
• Deposit and withdrawal fees.
• Spreads on asset prices.

Some platforms may offer lower fees for higher trading volumes or discounts for holding their native tokens. But transparent pricing is key, as it helps you avoid unexpected charges and improves long-term profitability. 

Reasonable fees are also important from a fairness viewpoint; cryptocurrency was originally designed to decentralise control of money but with financial rewards on offer for those supporting the system.

4. User experience and platform usability

Whether you’re a beginner or an advanced trader, the platform’s interface should be intuitive and easy to navigate. A clean dashboard, clear charts, mobile compatibility and smooth performance are all essential for hassle-free trading and portfolio management.

Good design also reduces the likelihood of mistakes when buying or selling assets. In a world with dozens of exchanges available, there’s no need to settle for a poor user experience.

5. Customer support and educational resources

Reliable customer support is vital, especially when dealing with financial transactions. Look for platforms that offer 24/7 assistance via chat or email and consider how quickly you will get support if something goes wrong. 

Additionally, platforms that provide educational tools, such as tutorials, informative articles or news updates can help you to build your knowledge and confidence over time.

Access educational resources to become a confident crypto trader.

Tips for beginners in crypto trading

Entering the world of crypto trading can be exciting for beginners, but it can also feel overwhelming. Inarguably, the market is fast-moving, volatile, and in some ways, completely different to traditional finance. 

It’s essential to approach crypto trading with a well-informed and cautious mindset, and these key tips could help you when you start out:

Start with small investments

When you’re just starting out, many choose to only invest what they can afford to lose. The crypto market is highly volatile, and prices can and do fluctuate dramatically in a short time. 

By starting small, you can reduce your exposure to risk while gaining hands-on experience with trading platforms and asset behaviour. Once confident in your strategy and risk tolerance, you can invest more.

Diversify your portfolio

Don’t put all your funds into a single cryptocurrency. While assets like Bitcoin and Ethereum are popular and well-known, many other projects offer unique opportunities and risks. Diversification spreads your risk across different coins and sectors, which can help balance out losses if one asset underperforms. 

It’s also worth considering what allocation to crypto you’re comfortable with when considering your entire portfolio.

Stay informed about market trends

The crypto market is continually influenced by news, regulations, technology updates and global events. Staying informed helps you to make smarter decisions, avoid emotional trading and buy into promising projects before anyone else. 

Consider following reliable crypto news sites, joining community forums and tracking core market indicators to stay ahead of trends. We provide real-time data and alerts that can help guide your strategy.

Make use of educational resources

Education is your best asset as a beginner. Use tutorials, articles, videos and in-app learning features to build up your knowledge. We offer beginner-friendly guides and glossaries to explain key concepts, for free. The more you learn, the more confident and prepared you’ll be.

Practise risk management strategies

Smart trading isn’t just about making profits but also protecting your capital. Set stop-loss orders, avoid chasing hype or panic-selling and try not to invest based on emotion (positive or negative). Define your goals including how much profit you want to make on each trade, decide in advance how much risk you're willing to take and stick to your plan.

Important information: This is informational content sponsored by Crypto.com only and should not be considered as an investment recommendation or advice. Trading cryptocurrencies carries risks, such as price volatility and market risks. Before deciding to trade cryptocurrencies, consider your risk appetite. Services, features and other benefits referenced in this article may be subject to eligibility requirements, token holdings, and may change at the discretion of Crypto.com.