Questions and Answers
What information is typically required when setting up a crypto exchange account?
Date of birth
What type of service can be used to mask a user's IP address?
VPNs
What is the purpose of a VPN?
To provide privacy and security for crypto traders
What is the main difference between No KYC DeFi Crypto Exchanges and standard crypto exchanges?
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Which of the following is NOT an example of a VPN?
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What is the first step in trading cryptocurrencies?
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What is the purpose of a firewall?
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What is the best VPN for traders?
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What is the main advantage of using a VPN?
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What is the main disadvantage of using a VPN?
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Study Notes
- To trade cryptocurrencies, you first need to open an account with a crypto exchange or brokerage.
- Some standard information you need to provide when setting up your account includes your email address, date of birth, and Social Security number (in the United States).
- However, no personal identification is required for No KYC DeFi Crypto Exchanges.
- Many cryptocurrency traders value their privacy and opt to keep their public IP addresses private for fear of exposing their location and other pertinent information.
- Moreover, some countries will block the usage of their websites based on a user's location, essentially blocking traders from using their platforms.
- VPNs offer a standard solution providing privacy and security for crypto traders.
- VPNs allow you to mask your IP address and set your location to any desired country.
- NordVPN or ExpressVPN are the best VPNs for traders, as they both support incredibly high speeds and connect automatically upon receiving an internet connection to avoid revealing your IP address.
