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Questions and Answers
What is required when setting up an account with a crypto exchange or brokerage?
What type of exchanges do not require personal identification?
What is a common reason why cryptocurrency traders value their privacy?
What can block traders from using certain crypto exchange platforms?
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What is a standard solution to provide privacy and security for crypto traders?
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What is the primary purpose of using a VPN for crypto traders?
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Which of the following is the best VPN for traders?
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What is the main advantage of NordVPN and ExpressVPN?
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What is the main purpose of connecting automatically upon receiving an internet connection?
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What is the main disadvantage of using a VPN for crypto traders?
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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.
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Description
Test your knowledge about the privacy measures involved in cryptocurrency trading, including the use of VPNs and the requirements for setting up accounts on different types of crypto exchanges.
