A lot of people ask this question and think that to register they need KYC Documents like PAN Card, Voter ID, Passport etc.
This is completely wrong because Your one passport (does not matter which country you are from) will be enough to open a Crypto Exchange account in India. This idea comes up because we see banks applying their KYC regulations on Cryptocurrency Exchanges and asking for full KYC Documents like TAN (Tax deducted at source), Bank Statement and Bank Account details (amount and balances). The problem with requesting all these documents is that it makes it difficult for new traders to open cryptocurrency exchange accounts. Probably the only reason why RBI has issued its circular clarifying that Crypto Exchanges don’t need residents identity/KYC documents is because by doing so the Government do not want unlimited people bashing up these exchanges for providing them bad service or cheating them.
How can i transfer money from my local bank account to binance?
The easiest way is to go through WESTERN UNION Paypal but if you own bitcoins then you can send funds directly and get paid back instantly by submitting your bitcoin address in the Payment Address section during checkout process.
What are altcoin exchanges? Do I have to buy different crypto currrencies every time I want to trade on another exchange?
It’s just like what most cryptocurrency investors think about forex trades – building multiple Forex accounts with numerous fiat currency pairs