Using the instant buy feature is straightforward but typically more expensive than using the spot market.īefore buying ONE, you may want to check the market conditions. The easiest way to buy ONE is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.Īlternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. This will increase the security of your account and help keep your funds safe.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds.So if you are planning on purchasing ONE with your local currency then you will need to pass KYC. Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account.You may also need to prove your address by uploading a copy of a recent bank statement or utility bill. This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone.Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.Īn increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Harmony. To create an account on any cryptocurrency exchange you will need an email address.
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