Coinsquare is one of the few cryptocurrency exchanges that allows users to trade with as low as $20. It is an ideal cryptocurrency exchange for anyone who wants to start investing little by little. Using Coinsquare is easy, all you have to do is go to Coinsquare.com, click on create an account, fill in the required details and get the account created. After that, you’ll follow these steps to start trading:
Step One: Account Verification
Coinsquare follows the know your customer policy in verifying users on the site. You must submit a valid ID card, and, proof of residence document that has your full name and address. The document must not be more than four months old. You’ll also need to do a selfie verification that includes your full face with you holding a sheet of paper that has your account number on it. You’ll get instantly verified in most cases as long as the documents are valid. If it doesn’t work, more verification will be required.
Step Two: Fund the Account
To fund your account, you need to deposit some Canadian dollars into it. There are several methods available for doing this including Flexepin, Interac Online, Interac e-Transfer, Money Order, Bank draft, Coinsquare Voucher, Wire Transfer, Cryptocurrency Transfer. The processing fee varies depending on the type of payment you choose.
Step Three: Set Up Two Factor Authentication
To increase security in your account, it is advisable that you enable the 2-factor authentication. It secures your account more than when you simply depend on passwords and usernames. With this method of authentication, you’ll not be able to log in without your mobile device. You can either use the Google 2FA or the Coinsquare 2FA. If you ever lose the device, you can call support to reset the 2FA.
After this, you can start trading on the cryptocurrency exchange. Remember that you can start with as low as $20 and increase your capital as you master the trading process.