Have you heard about cryptocurrencies? Even if you don’t have proper knowledge of what they are, chances are that you have heard of them. These days, there are lots of stories circulating about people making it big in the cryptocurrency market and there are discussions about its future potential. Cryptocurrencies are digital/virtual currencies that were first introduced in 2009 by Satoshi Nakamoto, when he launched Bitcoin. This was the first crypto to be introduced and is the leading cryptocurrency in terms of market capitalization today. The stance of world governments regarding cryptocurrencies has changed gradually in the last decade.
Initially, it had not been accepted and had seen a lot of opposition, but there seems to be a change in perspective now and more and more countries are now opening up to these virtual currencies. The market has also grown rapidly, as there are more than 6,000 crypto coins that you can find in the market. In order to invest in them, you have to seek the services of a cryptocurrency exchange, which is established for this purpose. There has been a huge increase in demand for authentic crypto exchanges and so, you can find a multitude of options in the market.
However, not every exchange is the right fit for people and you need to find one that can be a good option for you. One of the options you will come across is Wynn-Ex, a relatively new exchange. This exchange was founded with the purpose of making the process of buying and selling cryptocurrencies quick, easy and safe for everyone involved. This exchange is regulated by Estonia’s Financial Intelligence Unit for providing a layer of security to its clients. But, you need to find more about it before you sign up with the exchange. Read on to do so.
What crypto does Wynn-Ex offer?
The first question that you need to ask about Wynn-Ex is about which cryptocurrencies can you buy and sell on the exchange. If it doesn’t give you the options you want to buy, there is really no point in signing up. At Wynn-Ex, you have the opportunity to buy and sell Bitcoin and Litecoin, two of the most renowned cryptocurrencies in the market currently. These are available at some of the best prices and the exchange plans on adding more.
Apart from that, Wynn-Ex has also facilitated its clients by adding an Over The Counter (OTC) trading desk on its platform where they can trade Bitcoin and Ethereum. This kind of trading is preferred by those who are seeking higher liquidity and don’t want market prices to fluctuate in case they want to buy a large amount of crypto, something that happens when you use an exchange.
What does the registration process at Wynn-Ex involve?
The next thing you need to know about Wynn-Ex is their registration process because if it is too complicated and time consuming, it is not worth it. Luckily, this is not the case because they only have one form for you to complete and it asks for basic details. The information you have to provide includes:
- First and last name
- Country of residence
- Phone number (No VOIP or prepaid numbers accepted)
- An email address (A verification email will be sent)
- Password you wish to use for account access
- Account currency selection (GBP, USD, South African Rand and EUR)
You should make sure you are 18 years of age or above and also agree to Wynn-Ex’s Terms & Conditions.
How to Get your Account Verified on Wynn-Ex?
When your email address is verified, you will be able to send, receive and exchange cryptocurrencies on Wynn-Ex, but in order to buy and sell, additional verification is needed. As outlined by the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies, clients have to provide proof of ID, residence and payments before they are able to make any purchases or sell cryptocurrencies. This proof is given in the form of documents. What are they? Check them out below:
- A national ID card, passport or driver’s license that don’t expire for another six months. A selfie should also be submitted with your chosen form of ID.
- A utility bill (water, gas or electricity) or a bank statement showing your full name and address. It should be a recent one, not older than three months.
- A front and back picture of a debit or credit card, with the last four digits and CVC hidden.
How do you store crypto on Wynn-Ex?
After you have verified your account Wynn-Ex by submitting the documents, you can buy and sell cryptocurrencies. But, where will you keep them? For that, you require a wallet and the exchange has facilitated its customers in that aspect as well. They have a free wallet that its clients can use for storing their crypto and they have equipped it with some strong security protocols for your peace of mind. The address of the wallet is changed regularly when transactions are made to prevent anyone from tracking it. Wynn-Ex also follows account segregation rules for protecting funds and uses cold storage for keeping the assets offline. Only 8% are kept online and there is a $100 million insurance policy in place as well.
What kind of support does Wynn-Ex offer?
Last, but not the least, you need to know if there is any assistance of support provided by Wynn-Ex, in case you encounter a problem. The exchange has an FAQ section on their website, which is quite detailed and extensive. You can find answers to numerous questions in this section and can resolve your issue. But, if you have a unique problem and cannot find the answer, you can check out their Contact Us page. They have given an online form you can fill out or you can send them an email at the address provided on the page. There is also a phone number given for urgent queries.
Now that you know what Wynn-Ex is capable of, you can register with the exchange to buy and sell cryptocurrencies.