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Questions and Answers
What is required to open an account on a crypto exchange or brokerage?
What is required to open an account on a crypto exchange or brokerage?
- Email address (correct)
- Social Security number
- Bank account information
- Date of birth
What is the main benefit of No KYC DeFi Crypto Exchanges?
What is the main benefit of No KYC DeFi Crypto Exchanges?
- They offer higher trading fees
- They are anonymous (correct)
- They have a user-friendly interface
- They offer more trading pairs
Why do some cryptocurrency traders value their privacy?
Why do some cryptocurrency traders value their privacy?
- To protect their identity
- To keep their transactions private
- To avoid exposing their location (correct)
- To prevent the government from tracking their activities
What is a potential problem for traders in some countries?
What is a potential problem for traders in some countries?
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What is a common solution for providing privacy and security for crypto traders?
What is a common solution for providing privacy and security for crypto traders?
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What is the most important feature of a VPN for traders?
What is the most important feature of a VPN for traders?
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What is the most recommended VPN for traders?
What is the most recommended VPN for traders?
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What does a VPN allow you to do?
What does a VPN allow you to do?
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What is a disadvantage of using a VPN?
What is a disadvantage of using a VPN?
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What is the most secure VPN?
What is the most secure 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 opening an 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, which makes such DEXs very popular with crypto enthusiasts.
- 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.
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